Evening star., 1949-10-24
D. e.. Bankers 10 Leave
For San Francisco
ConcIave Of ABA
By EdWord c. Stone

By Edword c. Stone
More Washington bankers will
leave here tomorrow for the an
nual convention of the American
Bankers Association which opens
next Sunday in San Francisco.
closing on Wednesday. In the
delegation are:
c. F.. Burton. president of the
City Bank; William j. Waller,
president, Hamilton National;
Robert v. Fleming. president,
Riggs National; Thomas ]. Groom,
president, Bank of Commerce &
Savings; Robert c. Baker, vice
president, American Security &
Trust; Rutherford ]. Dooley, vice
president, National Bank of WASH
ington, and E. F. Colladay, coun-
sci. Second National.
D. ]. Neednam, general counsel
of the ABA. and j. o. Brott, as
sistant counsel, will also attend.
District bankers already on the
way include F. G.. Addison, jr.,
A. Scott Offutt, Corcoran Thorn,
jr.. Fred A. Lutes and George M.
Fisher, president of the District
Bankers Association.
Mr.. Fleming will address the
State Association Section Monday
on "Bankings Responsibilities in
the National Capitol" and Secre-
tary Snyder will address the gen.
eral session Tuesday.
Rayon Shipments Recover.
The latest Richmond Reserve
Bank review says rayon shipments
in the Fifth District in August
rose % per cent over July and re-
gained three-fourths of the de-
cline from December to May.
The farm credit situation in
this District is satisfactory, with
the banks and other lenders pro-
viding adequate funds. Business
in the district has improved
markedly except for shipbuilding
and the soft coal industry.
Furniture sales in Washington
in the first eight months of this
year were IL per cent ahead of
the like 1948 period. Commercial
failures numbered 269 against 122
a year ago. Dry goods sales have
shown by far the best gains re-
Gently in the wholesale field.
How GIs Will Spend Refunds.
A tip-of on how veterans will
spend $4,000, 900. 900 in G1-insur-
ance refunds is offered by Business
Week, based on what the veterans
did with the 1000, 100000 in ter
minal leave bonds in the first half
year after they became cashable.
If they follow their previous
action. 40 per cent will hold onto
their bonds. Others spent 2S
per cent for clothes, food, etc..
while another % per cent bought
autos. appliances and furniture.
Eleven per cent used their funds
for emergencies and illness, 9
per cent to meet back bills. Six
per cent put their money in bank
accounts, 4 per cent in homes and
3 per cent used the money on
luxuries. .
Any money left was used for
taxes, farm expenses. home re-
pairs and investments.
Defense Controller to Speak.
Wilfred j. Mcneil. Assistant
Secretary and controller of the
Department of Defense, will ad-
dress the Controllers Institute of
America tomorrow night at the
Carlton Hotel.
More than 1850 field repre-
sentatives of the Prudential In
Surance Co. are having a series Of
sales clinics at the Statler Hotel
this week.
Hugh Dunlap Combs of Balti-
more addressed the District As
sociation of Insurance Agents this
noon at the Mayf1ower.
The Washington Rubber Group
will hold its annual banquet to-
morrow night at the Hamilton
Hotel, Roy J. Devereaux presiding.
Installation of a 5,000-pound
capacity travelling crane in the
main plant Of the Fred S. Gichner
Iron Works, Inc, has been COM
pleted. The crane, which will in
crease plant efficiency, has been
built into the roof of the struc-
ture and extends to a depth of
200 feet.
Treasury to Honor Women.
Women volunteers in the last
savings bond drive will be hon.
ored at special ceremonies at the
Mayfower Hotel, Wednesday eve
ming, November 2, the Treasury
has announced.
Pan American World Airways
Will increase European all-cargo
flights from two to three a week
effective November l.
Vice President Barkley will ad-
dress the American Petroleum
Institute in Chicago, on Novem-
ber 7.
Chicago Livestock