Evening star., 1950-08-16
West Virginia Bankers
Urge Curb on Credit
As Brake on Initiation
By Edward c. Stone

West Virginia bankers pledged
about support to the Korean war
effort and urged restraint of credit
that might lift prices and add to
imitation, in resolutions passed al
the annual meeting just ended al
White Sulphur Springs, r. Lewis
Bentz, the new association preSi-
dent announced.
Other resolutions endorsed legiS-
lation favoring reduction of Fed
eral Deposit Insurance Corp
assessments, opposed branch and
chain banking and registered
strong opposition to the proposed
issue of $50 million West Virginia
veterans bonds. The bankers are
opposed to any change in the
present $4,000 insurance of indi-
vidual bank accounts.
One of the important reports
stated that the States bituminous
coal income has definitely turned
downward.
Penney Opens New Store.
The j. C. Penney Co. opened
new department store today at
Colesville road and Georgia ave-
nue., Silver Spring, giving the firm
six stores in Maryland in the
Nationwide chain of 1000.
L. E. Martin, with the concern
Is years, is the manager, coming
here from a similar position at
Fayetteville, N. C. He was man
ager there for three years and at
one time was connected with the
Penney store in Alexandria.
The new store has the latest
developments in department store
design, fixtures and equipment.
In addition to the main floor,
there is a downstairs store and a
balcony. The store is air condi-
toned, has f1uorescent lighting,
and two 30-foot show windows on
either side of the entrance.
Shoppers visited the store in
very large numbers today to get
first look at the merchandise and
interior.
Committee Work Assigned.
Many bankers in nearby Vir-
ginia are included on the COM
mittees just appointed by the
president Of the Virginia Bankers
Association for the year.
Roy Potts. president Bank of
Clarke County, Berryville, and
William H. Kriete, Bank of Essex,
Tappahanock, are on the Agri-
culture Committee; R. c. Powell,
Peoples National, Manassas, Clear
ing-houSe Committee: 2. D.
jackson, First National, Harrison
burg, Bank Insurance; Glen
Robertson, Citizens National, Front
Royal, Federal Legislation.
John c. Blackburn, Shenandoah
Valley National, Winchester, Con-
sumner Credit; George E. Warf1eld,
First National, Alexandria, Re-
solutions; H. A. Holland, Shenan-
doah Valley National, Winchester,
and Ara w. Smith, Second Ma
tional, Culpeper, Trustees; P. w.
Anderson, Marshall National,
Marshall, Memorials, and H. E.
Wall, First National, Quantico,
Attendance.
Bankers Take Vacation.
H. T. BiSSelle, senior vice preSi-
dent of the Riggs National Bank
and president of the District /
Bankers Association, is taking a
at Myrtle Beach, S. c.,
and Sea Island, Ga.
w. L. SanderSon, Hamilton Ma
fional Bank cashier and first vice
president Of the District Bankers
has been passing his
at Myrtle Beach, S. c.
John M. Christie, an assistant
vice president of the Riggs Ma
tional Bank, is another banker
who has been a Myrtle Beach
vacationiSt.
Robert H. Lacey, vice president
of the National Metropolitan
Bank, is taking a vacation in the
White Mountains.
SeaDoard Bonds Awarded.
Seaboard Air Line Railroads.
offering of $3,57o.0O0 in 1-to-15
year equipment trust certificates
went to Halsey, Stuart & Co., Inc,
and associates. Their winning
bid, naming a price of 99.205 on
a 23s per cent coupon, produced
a net interest cost for the road