Evening star., 1943-05-25

pleted program DI'.d T. s.mms.
received here today. David E. Simms
president of the institute, an.
nounced the convention features.
The bank manpoWer shortage, g
chapter leadership conference. re-
ports on the years activities, the
annual public speaking contest ano
the election of officers will high
light the program, President Simm.
stated.
The public speaking contest viii
be of intense interest to members Of
Washington Chapter as Stephen o
Porter of the Riggs National Bank
is one Of the eight contestants. An
other Eastern contestant will bt
G.. B. Spence. Durham Bank & Trust
Co, Mebane, N. c.
Other speakers will include Davic
L, Colby, vice president of the in
stitute: J. L. Dart, former president
and Helen Jackson. Wachovia BanE
& Trust Co., winston Salem, who
will take part in forum discussion
on Training Women in Banks" Tht
usual program, covering the bes
part Of a week, has been condensed
to less than two days on account o1
war conditions.
In the Washington delegation viii
be George M. Rowzee, jr.. retiring
president of Washington Chapter
George Earnshaw. incoming presi'
dent, w. l.. Sanderson, member
National Executive Council: Stepher
O. Porter. Miss Leona Draeger ane
Miss Sophie Karydakis.
Survey Aids Investors.
Merrill Lynch. Pierce, Fenner &
Beane was distributing in the flnan'
cial district today 52-page Sc
curity and Industry Survey aimee
to give investors an accurate view
of present market conditions.
The survey, most comprehensive
the firm has ever published, cover:
investment policy. general business
fixed income securities such as bond:
and preferred stocks, and planned
portfolios for various sized accounts
Safety. long-range prices, capita
growth and income returns are alsC
considered
Thirty major industries are ap,
praised in the booklet The marke
recovery in the past II years re-
fleets favorable developments of {
basic character. vet investors mus
guard against "uncritical optimism
as the bull market progresses the
review says.
Shaw Returns to Rutgers.
Edwin B. Shaw, assistant trus,
officer of the Riggs National Bank
will return to Rutgers University or
June IL and complete his studies a,
the Graduate School of Banking
He is in the senior class and vii
graduate at the end OF the summe,
session. On account. Of the war
enrolment this year will be reduced
from 600 to 400.
Loans Pass Billion Mark.
The Federal Home Loan Bank
System has leaned more thar
$1,000 100000 to the u Federal Home
Loan Banks fer the use of their
member associations, Gov. James
Twohy announced today. Loans
had reached $1,000, ,5O4 900 on May
II, of which s917,135 039 had been
paid back, leaving outstanding ad-
vances at $87 1859 900
With a cumulative figure of S141,-
472ooo, the Federal Home Loan
Bank of Winston Salem reported
the largest volume of advances by
a regional bank. The Winston
Salem bank serves member institu-
tions in seven Southeastern States
and the District of Columbia. The
Federal Home Loan Bank of Chi
Cago was second with $l27 ,581 900.
The 3,781 members of the system
have made total of approximately
$500 100000 in home loans since
they became affiliated with their
regional Home Loan Banks. includ-
ing S2,l35 100000 loaned on homes
in war industry areas since the sum-
mer Of 1910
The report says building aSsocia-
tions are now making more loans to
finance the sale of existing homes
than for new construction limited
by the war.
Auto Insurance Holding Up.
In spite of the gasoline and tire
situations very few car owners have
dropped their automobile insurance
policies, j. Maxwell Smith, president
of the Keystone Automobile Club
said today. Virtually all motorists
have continued all types of auto
insurance. This is true among mem.
bers who now have their cars ir
storage.
Washington. Philadelphia ane
Baltimore are the three largest cite.
in which keystone operates. Phila
delphla and Baltimore produce tn,
most new members, he said, while
Washington leads in renewals from
old members.
Washington Gas Stock Climbs.
Washington Gas Light IS prefer.
red reached a new 1943 high mari
On the washington Stock Exchang'
today. Opening on a small scale a
1G2",. the stock closed at l03ia
AGAINST the last previous sale a
1oG. The final bid was 1929, with
nono offered
Retail Trade Up IL Per Cent.
The Federal Reserve Board re
ports that department store trad
il the Richmond district from Jan
usry through May Is was II pc
cent ahead of the like 1912 period
compared with On average nationa
sain of IL per cent. Kansas Cit.
area had the best trade advance
SO per cent, while New York report
ed the smallest upturn, per cent
Sales in Atlanta were up % pc
cent. and in Philadelphia S pc
cent.