Evening star., 1943-03-24
Immediate PLANNING
For Postwar Problems,
Urged by Reilly
Bankers Association
Chief Stresses Need
Before Controllers
BY EDWARD c. STONE.


Immediate economic planning tc
meet postwar problems was de-
clared necessity by John A. Reilly
president of the District Bankers
Association and of the Second Ma
tional Bank. in an address before
District of Columbia Chapter, Con-
trollers Institute OF America, last
night at the Carlton Hotel. only
those who believe in the future OF
America can plan it. Today IS
dreams have always been tomor-
rows realities" he said.
The speaker traced the economic
history of the Nation following
every major war since the Dec
laration Of Independence He point
ed out that history always has re-
corded a period Of business heSi-
fancy for the first few months fol-
lowing the cessation OF hostilities,
When the demand for consumer
goods is subsequently created the
country always has enjoyed year
or more of active business. This was
usually followed by a relatively
short period OF trade and financial
adjustment and then succeeding
period of prosperity extending over
a period of several years.
When victory is achieved we shall
have the broadest and deepest base
for an economy Of abundance we
ever have had. Retail establish
ments that survive the difficulties
Of controlled economy necessitsted
by war should enjoy unusual pros
perity during the period Of recon-
struction, Mr.. Reilly asserted.
Referring specifically to the prob
able future of the Metropolitan Area
of Washington following this war,
Mr.. Reilly pointed out that the city
has heretofore retained about one
half of the net increase in popula-
tion it has gained as a result of ex-
panding war activities. L look for
an increase in the percentage after
this conflict he concluded.
Harold Hayden, president of the
control and controller of the Po-
tomac Electric Power Co, presided.
There was very large attendance
of members and an extra large num-
ber of guests.
Bill Hits Federal Credit
The bill calling for immediate
liquidation" of the Regional Agricul-
tural Credit Corp was introduced in
the Senate yesterday. The measure
was signed by Senators Wherry,
George, McKellar, Byrd and Nye
The bill is designed to effectuate
the recommendations of the Joint
Committee on Non-essential Gov
eminent Expenditures, recently
placed before the Senate.
Bankers in the farming districts
are especially interested in this bill
as they claim to have ample credit
to meet all present agricultural
needs and are strongly opposed TO
further Government competition.
Exchange Listing Planned.
The coming additional issue of
Al ,024 shares of Washington Gas
Light SIS cumulative preferred stock
will be listed on the Washington
Stock Exchange as soon as the
stock is sold, it was announced to-
day The original portion of this
stock is already on the exchange
The stock will 90 on the market
the latter part of this month, first
being offered to the present own
ers of Washington Gas common
stock.
Thomas S, Blanton, president of
the Union Bank g. Trust Co, Bowl
ing Green, Va, and past president of
the Virginia Bankers Association,
has announced his candidacy for the
State Senate, to succeed the late
H. T. Wickham.
Bank Abandons Late Hours.
Officers OF the Union Trust Co
have decided to abandon late bank
ing hours on the 9Th and 23d day of
each month as there appears to be
no real demand for continuance of
the extra service. Ord Preston. presi-
dent, announced today. The late
hours on the 18th and last days OF
each month will be continued.
The change from four to 20 pay
days a month in the Government
which was inaugurated several
months ago, has done away with the
rush that formerly existed IN all the
banking institutions IN the city. this
letdown being especially true on the
9Th and go
M. F Calnan, president of the
Liberty National Bank, was the
first official to shorten late banking
hours on the days when little or
no demand was found for the extra
service.
Many officials see no need for late
hours except on DAYS when Federal
departments close to their Offices are
having off