Evening star., 1951-09-14

B. Sharer of United States Rub
ber Co. and Millard Bennett, sales
consultant.
Directors of the clubs parent
organization, the National Sales
Executives will wind up a three
day meeting at the Statler tonight.
Bank Debts Turn Down.
Debts or Withdrawals from de-
mand deposits of Washington
banks declined another 14.5 per
cent in the week ended Septem-
Der S. after volume for August
and eight months of this year had
set new records for those periods.
1t was the third week-to-week
decline in a row, but the weeks
total of $176.582.000 for the IA
Reserve member banks remained
l0.1 per cent above the like 1850
week, the Richmond Reserve Bank
reported.
A summary of Washington bank
debts from the Federal Reserve
Board reporting an August total of
$1,039, ,157, 900 was 0.2 per cent
above $1,036, ,625, 900 in the pre-
vious month, and 20 per cent above
August, 1850. The eight months
volume of $8,461, ,592 900 was 81
per cent above $6.663, 100000 a
year earlier.
The Richmond bank reported
that loans Of the IA Washington
reserve member banks stood at
$304, SAC. 900 on September S, a
drop of $1.942 900 from a week
earlier. but they were still $685.
851, ZOO above year earlier.
The banks classification of
''other loans" mostly consumer
loans. was down $1.310,000 in the
week and $8,611 900 above year
earlier with total Of $73,338, 900.
Commercial loans of $128,237, 900
were down $764, 900 for the week.
but $13.688.0 900 above year
earlier.
Copeland Scores ETC Report.
A Federal Trade Commission re-
port to Congress on "interlocking
directorates." which may be used
as a basis for proposed legisla-
ton. is lacking in intellectual
honesty and is essentially de-
structive." stated Melvin T. Cope
land in the current Harvard Busi-
ness Review.
Mr.. Copeland. who is professor
OF marketing and director of
business research at Harvard, de-
clared that if legislation is
enacted which forbids all or most
OF the types of 'interlocking
directorates" which the commits
sion finds to be subject to sus-
picion, the. net effect will be to
discourage the election of out
side directors to corporate boards
He stated that many companies
benefit from outside directors
who provide wide cross-section
OF opinion and experience" and
contribute independent checks on
performance and a broad perspec-
tive, valuable to stockholders
employees and customers. !
Cost Accountants to Meet.
Washington Chapter, National
Association of Cost Accountants.
will be addressed by David p. Fry,
Jr., vice president of the Pioneer
Suspender Co.. at its first regular
meeting of the season at the Will
lard Hotel next Wednesday eve
ming. Dinner will be served at
6:45 o'clock.
A joint annual three-day meet
ing of the American Society of
Women Accountants with its af-
f1liate, the American Women's So
ciety of Certified Public Account
ants, will be held October ST at
the Washington Hotel. Washing
ton and Richmond chapters will
be co-hostesses.
The National Institute of Gov.
ernmental Purchasing will hold
its sixth annual conference ano
products exhibit at the Shorehan
Hotel October 21-24.
Proxies were mailed today tc
all, National Airlines stockholder:
by an independent stockholders
group seeking to elect five direc.
tors opposed to the management
slate.