Evening star., 1945-08-19
Big Growth Expected
Here by Most D. {.
Financial Leaders
BY HAROLD B. ROGERS.

YOi Jlllk pltliby VI lHuliCy dfdhdDlt
to back progress of Washington il
peace, foresee problems ahead. Bu
the majority of those interviewed
yesterday by The Star expressed
confidence that the National Capita
will make steady progress towards
still greater future.
Some were cautious, one was pes
slmiStic, but several characterized
Washington as the world capital.
Loans under CT legislation to vet
Grams now are complicated under
present law. they said, but pending
bills are designed to simplify proce-
dures. Bankers said Informally
they look sympathetically towards
loans to veterans, but they stressed
that qualifications for such credit
have to be met under legislation for
guaranteed loans.
The question: What will victory
mean to Washington" was sub
mitted by The Star to several finan-
rial leaders
Here are the answers received:
Expects ID. c. to Grow.
Bruce Baird, president of the Ma
iional Savings and Trust Co., who is
president of the District Bankers
Association: Washington is at the
inception of its greatest period OF
national Importance and usefulness
IN the postwar world it will be the
,enter of political and economic ac-
;lvlty. Its progress over the years
las been as the Nations Capital
It's future will be as the capital of
.he world"
Wilmer J. Waller, president of
Hamilton National Bank. who is
treasurer of the American Bankers
Association: 1T is only natural that
here will be quite a reduction in
personnel of government depart
nents. On the other hand certain
bureaus which were taken away.
rlll be brought back. I'm Just as
optimistic as I can be about condi-
lions in Washington after this is
pver. 1t is a world capital"
FOresees Return of Agencies.
S. William Miller, president of
Union Trust Co., and vice president
pf the District Bankers Association:
The unemployment situation will
probably not develop to be a serious
me here. The return of Govern
nent agencies which moved to other
:lties and the necessity of relieving
he manpoWer shortage which is
lcute in non-GoVernment activities,
will offset to a great extent the ex-
oected exodus of those engaged in
,he war effort
John A Reilly, president of Sec
>nd National Bank: I expect Wash
ngton to have very colorful fu-
,ure. She will truly be the capital
If the world, but the coming OF
peace poses for the bankers some
erlous and perplexing problems.
Y. E. Booker of Alexander Brown
Sons, who has participated large
Y in financing of Washington utili-
les, said: Washington has less toI
ear from cessation of hostilities
han any other city in the coun-
ry. 1t still will be the political CEN
er OF the Nation, and is increasingly
! financial center. Washington will
ontinue to grow. I am very bull
sh on the outlook for this city.
Utilities are looking ahead to a big
Ter Washington in 1850"
Thomas j. Groom, president of
he Bank of Commerce and Savings:
There will be a tapering off up to
! six months period, with a down.
vard trend in population. but the
Hect will not be felt Immediately.
lot of people who have moved
lere will stay. That has been the
history OF Washington. At the end
If six months we'll get a better pic
ure Of what the situation will be.
Government agencies returning will
eplace many civilian war workers
moving away
Cites Building Problems.
F. Wilson Camp, secretarv-treas-
lrer of the District Building and
Loan Association and secretary Of
he District Building and Loan
League: I'VE are not going to see a
Dig population change in five years.
since this is the world capital, con-
iltlonS will continue very much as in
he war period. When we get into
new construction, it will ease the
housing situation, but as to how
IoC.l-au We can do is to hope.
There are very serious problems
II the construction industry, occa-
stoned principally by materials
mortgages. Manpower problems have
sased. There is plenty of money
iVallable on sound credit. We will
lot have to tap reserves. There is
ictual cash for construction.
G. Bowie Chapman, resident man
,ger Of Laidlaw & Co.. stock ex
:hange house: There will be very
ierious situation. I am not a Polly
lnna. The first thing will be a re-
luction of Government employees.
This city is overstaffed, especially
With the military 1t will be a very
trying and hard period"
Carl H. Ellingson, president of the
First Federal Savings and Loan AS
'ociation: Washington will con-
;inue to go ahead despite changes
brought about by war
Store Sales Top Year Ago.
Department store sales in Wash
lngton for the week ended August
IL were II per cent above sales in
The week ended August u last year.
The Federal Reserve Bank of Rich
mond reported. This compared to
IA per cent increase for the fifth
district in the same period.
Clarence E. Kefauver, president of
the District Building and Loan
League has called a meeting of the
leagues executive council for 1890
pm. Tuesday at the Mayfiower Ho-
tel. Regular meetings will be re-
sun1ed in September.
Frank M. Perley, assistant vice
president and trust investment of
f1cer of the American Security g.
Trust Co.. who was released from
service as a major in the Army Air
Forces Yesterday, returns to his post
at the company tomorrow. He is
past president of Washington Chap
ter, American Institute of Banking
E.