Evening star., 1943-08-30
Washington Bankers
To Attend Wartime
ParIey Of ABA
BY HAROLD b. ROGERS,

Plans are being made by Wash
ington bankers to attend the war.
time conference of the American
Bankers Association at the Waldorf
Astoria Hotel New York City, Sep
tember IL to Is.
Headed by A. Scott Offutt, presi-
dent of the District Bankers AS
sociation, and vice president of the
City Bank, the group will include
at least IA others. Other bankers
may join the group later.
Already on the list to attend are
Mr.. Offutt, Robert V. Fleming,
president of Riggs National Bank,
who is former president of the
ABA; Wilmer j. Waller, vice presi-
dent and cashier of Hamilton Ma
tional Bank; John A. Reilly, presi-
dent of Second National Bank, who
was president of the District of
Columbia Bankers last year; T
Stanley Holland, vice president and
trust officer of the American Secu-
rity & Trust Co.; Frederick P. H
Siddons, vice president of Ameri-
can Security & Trust Co.; and
Charles H. Doing, first vice presi-
dent of Washington Loan & Trust
Co.
F, G. Addison, jr., president of
Security Savings & Trust Co.; M. F
Calnan, president of Liberty Ma
tional Bank; Rutherford J. Dooley
vice president and cashier of the
National Bank of Washington;
George M. Fisher of Washington
Loan & Trust Co.; Thomas j.
Groom, president of the Bank of
Commerce & Savings; Linwood ?.
Harren, executive vice president OF
the Morris Plan Bank of Washing
ton; S. William Miller, vice presi-
dent of the Union Trust Co., and
Richard A. Norris, vice president
and cashier of Lincoln National
Bank.
From the Washington Office of the
ABA will go D. J. Needham, gen.
eral counsel of the ABA, and j. O
War Loans Mount.
The ABA today announced that
nearly $7,000,00 900 of war produc-
ton loans and commitments by 428
of the Nations larger banks were
outstanding on June 80, and ac-
cording to a semiannual report on
war lending.
The survey shows that the total
of bank loans and commitments for
financing the manufacture of arma-
ments and war supplies increased
1922, 100000 during the first half of
1943.
Of the s6,e14,618,00O of war loans
and commitments outstanding on
June 80, $678, COO 900 were for con-
struction of war plants and fac
tories, and S6236, 100000 were for
the purchase of raw materials and
for other production expenses.
The $6,236 100000 of outstanding
loans and commitments for pur-
chase of raw materials and for other
production expenses, is an increase
of 81 ,228, 100000 over the total of
such loans outstanding at the end
of 1912. This increase in loans par
allels an increase in physical pro-
duction of nearly all categories of
war supplies and equipment during
the first half of this year over the
preceding six-month period.
Construction Loans Down.
On the other hand, the S678 000,-
600 of loans for construction of war
plants and factories outstanding on
June 80 is a decrease Of S235, 900 900
in such loans as compared with the
total outstanding at the end of 1912.
A downward trend in war factory
construction and equipment leans
began during the second half of
1912, by which time the conversion,
construction, and equipping of war
plants was nearly completed, and
actual production of increasing
amounts of war goods from these
factories was begun. The decline in
the outstanding total of these loans
may be expected to continue be-
cause the plants and capital equip
ment of most war industries are now
completed.
The future trend of bank loans
to war industries for purchase of
raw material and for other pro-
duction expenses will be in direct
relation to the trend of the output
of the war plants.
woodward & Lothrop common
stock sold today on the Washington
Stock Exchange at 40. Potomac
Electric 517 preferred went at 116.
and Washington Gas Al preferred
at 105A.