Evening star., 1943-08-02
Bankers 10 Discuss
War Problems al
September Session
By EDWARD c, STONE.


w. L. Hemingway, president o
the American Bankers Association
announced today that current as
poets of investment, the outlook fo
loans, position of small banks afteI
the war. competition of Government
credit agencies, small loan legisla
ton, savings for security and tht
encouraging of war savings will b'
among the leading subjects dis
cussed at the War Service Meeting
of the ABA in New York in Sep
tember.
The report of the president, cleo
ton of officers, inter American fisca
policy, and study of domestic
economy will also feature the pro.
gram. today's announcement said
The banks of the country are beins
asked to send but one delegate un-
less other officers are members OF
ABA national committees or the
executive council. Washington
bankers are already making thell
plans to attend the two-and-a-h half
dav session, according to A. Scott
Offutt, president of the District
Bankers Association.
Among the speakers announced
today are DR.. Marcus Nader. New
York University: DR.. o. M. w
Sprague, professor of banking at
Harvard; Luis G. Legoretta. presi-
dent, Mexican Bankers Association
who will return Mr.. Hemingway S
visit to the convention in Mexico
some months ago; Joseph c. Roven-
sky, Chase National official who was
in Washington for many months
engaged in war finance; and DR..
Henry M. Wriston, president OF
Brown University.
Virginia Bankers HOnOred.
w. A. Roper, president of the
Virginia Bankers Association. has
appointed H. H. Cooley of Round
Hill chairman of the association S
committee on agriculture, and G. l..
Robey. Purcellville, chairman of the
Federal legislation committee.
Other chairmen just named in
clude G.. c. McColl of Norton, who
was president of the association last
wear. War bonds committee. Charles
T, ONeill, Charlottesville, will have
charge of the bankers conference,
while Homer S. Peck, Roanoke, Will
look after safe deposit activity.
The name of the War savings
committee was changed by the coun-
Gil to War bond committee, Presl-
dent Roper announced, and the
purpose of the committee was en-
lsrged to include the promotion OF
the sale of all issues of War bonds
rather than to conflne it to War
savings bonds only
Mutual Bank Deposits Soar.
Record deposits and the t1rst bll-
lion dollars of War savings bonds
scld and delivered by mutual saw
ings banks are reported for the first
half year of 1943.
Deposits in the six months gained
by S483,748,579. This was top flg-
ure for all time and largely reflect
ed increased savings in war indus
trial areas. The increase brought
total deposits held by mutual insti-
tutions to S11 1,104, ,706,532.
New York lee with an increase OF
s255, ,3O7 $50, Massachusetts,, second,
had a gain of S81 ,439 ,286; Connecti-
cut. third. $40 .600,066.
Installment Loans Level Off.
The Federal Reserve Board re-
ports consumer loans of commercial
banks, industrial banks, small loan
companies and credit unions were
seas, 900 900 at the end of June, re-
flecting a decline of only Sl,000,00
during the month, the smallest de-
crease that has occurred in any
month since September, l94l. How
ever, installment loans at the end
of June were 36 per cent below the
level of June, 1912.
Each of the four groups reported
nn increase in loans in June, mainly
due to income tax borrowing and
for the usual vacation requirements,
the report said.
Wiley Named Sales Manager.
Robert F. Wiley has been ap-
pointed manager Of sales of the
Bethlehem Steel Co.'S Washington
office, succeeding the late Emeric R.
Leonard. He has been with the
company since 1927.
Clifford E. Binsted, connected with
the International Business Ma
chimes Washington Office for 25
years, has been made member of
the Quarter Century Club. A native
of the Capital, he has never worked
for any other concern. One of his
four brothers is Episcopal Bishop
Norman N. BinSted, who is now in
termed in the Philippines.
NJ. w Clement, president of the
Pennsylvania Railroad, estimates
June net at S6,008,0l6, against s10,-
023 ,485 in June last year.
Gas Stock at New l943 Peak.
Washington Gas Light $3.50 pre-
ferred stock sold at 1921 on the
Washington Stock Exchange, up
from l0l to a new 1912 high mark.
The stock sold ex-dividend. SO
shares changing hands. The
stock opened l943 at 81, making a
gain or more than ii points in seven
months.
Net earnings of the Virginian
Railway in the first six months of
l943 amounted to s127 on the COM
mon stock against sl48 a year ago.
Peoples Drug Stores common is
selling on the New York Exchange
very close to the high for the year
OF 24aa.
New York Exchange services to-
day suggested the purchase Of
stocks which should not be affected
by either a long or short war. dairy
issues being among many others
mentioned.