Evening star., 1943-09-24


closed that the August gain in the
Capital of 80 percent over the same
month last year was ahead oi
Boston, Cleveland, Detroit and st
Louis, but not up to advances in
Chicago, Los Angeles, New York
and Philadelphia. New York led all
the other cities with Sc per cent
August sales upturn.
Only Washington, Los Angeles
and Chicago are ahead of last year
In their eight months business, the
report showed.
Bankers Score u. s. Lending.
Indiana bankers, calling in person
on Representative Louis Ludlow
urged that Congress eliminate SUBJ
sidized farm loans by Government
agencies and also called for less Fed
eral agency propaganda.
They declared that 10 Department
OF Agriculture agencies are now
making farm loans in competition
with rural banks and are charging
lower rates simply because they are
supported by public funds; that in
many cases they are attempting to
dissuade farmers from borrowing
from banks and are spending more
for publicity purposes than banks
can afford.
AS the agencies are not self sup
porting, their deficits are made up
through public money partially pro-
vided by the banks themselves
through taxes and the purchase of
Government securities, it was
pointed out.
The bankers demanded that Con-
gress withdraw financial support to
these agencies which are in direct
competition with private enterprise,
except in times of emergencies.
Investment Bankers to Meet.
L. Clark Brown, vice chairman of
the Southeastern Group of the In
vestment Bankers Association, today
announced the oath annual meeting
of the group, which has been called
for Friday, october l, at the Mer-
chants Club in Baltimore
The committee named to nominate
officers and members of the Ex-
ecutive Committee includes John
Redwood, jr., Baltimore; T. Baker
Robinson, Washington, and F. w.
Craigie, Richmond. The committee
has made the following nominations:
Robert C. Kirchofer, Raleigh,
N. c., chairman; L. Clark Brown,
Washington, vice chairman; j. c.
Reipe, Baltimore, vice chairman, and
George G. Shriver, Baltimore, Sec
retary- treasurer.
Nominated for the Executive Com
mittee are Joseph w. Sener, Balti-
more; Edwin B. Horner, Lynchburg,
and R. S. Dickson, Charlotte, N. C.
Friends Mourn w. ID. Hoover.
The death today at Blue Ridge
Summit of William D. Hoover, chair
man of the board of the National
Savings & Trust Co., caused deep
regret among his associates.
Mr.. Hoover had been i'll for a long
time and recently had been failing
rapidly. He was II years old, having
been born in the Capital on October
6, 1864.
va 80 SCdlo d
record as head of the trust COM
pany and had an exceptional num-
Der OF friends both in and outside of
financial circles. He will be greatly
missed.
Today's Trading on Exchange.
One hundred shares of Garfinckel
common sold on the Washington
Stock Exchange today at 1919, ex-
dividend, close to the high for the
year.
Potomac Electric Power 6 per cent
preferred stock was strong at 118.
Washington Gas Light $3.50. pre-
ferred appeared on the board in two
email sales at 1857.
1t was announced that yesterdays
sale Of so shares of Capital Transit
had been Cancelled.
An unusually large number of
dividends are to be paid in the next
few days. Now being quoted ex-
dividend are American Telephone,
Capital Traction, Prince Georges
Bank, Bank of Commerce e. Saw
ings, Garflnckel issues. Peoples Drug
common and the Woodward g.
,Lothrop issues.