Evening star., 1952-01-25

Gov ern ment
agencies and
the heavy con- Mr.. Mccormack.
centration of Federal employment
in the District were cited as major
factors by John c. Mccormack,
vice president and cashier of the
Riggs National Bank. who is
chairman of the District Bankers
Association Committee on Person
mel ard Operations.
Washington bankers have tried
to take full advantage Of any OPP
portunities to increase wages un-
der present wage stabilization
regulations and a number Of them
have filed applications for in
creases with the Wage Stabiliza-
tion Board. but 1t takes time to
get action. he pointed out.
Turnover Rose i'm 1851.
Turnover in Washington banks
amounted to nearly SO per cent
of total employees in 1851 and may
have even exceeded this figure, it
was learned. Turnover in 1850
was ~ per cent to 80 per cent.
Each individual bank is working
on its own problem as the asso-
citation has not mapped any joint
action. Close attention has been
paid to employe relations and
working conditions.
Washington Chapter. American
Institute of Banking. which has
the full support of the association
this year inaugurated a special re7
orientation course for new bank
employees, You and Banking. This
is making real contribution to-
ward training new employees and
acquainting them with the prob
lens and opportunities in banking.
Store Sales Rising.
Washington department store
sales recovered further from their
post holiday slump in the week
ended January 10, but remained
4 per cent behind the like 1851
week, the Federal Reserve Bank
of Richmond reported today.
Sales were 8 per cent above the
volume for the week ended Janu-
ary IL. which in turn, had been
81 per cent above the week ended
January 9. In the weeks ended
December 20 and January 2, sales
showed week-to-week declines Of
SO per cent and 13 per cent. re-
spectively.
The Richmond bank reported
that sales in four weeks ended
January 19 were 4 per cent be-
hind a year earlier.
Peoples Drug Votes Dividend.
Directors of Peoples Drug Stores.
Inc, today declared a. regular.
quarterly dividend of so cents al
common share, payable April toI
stockholders of record at the close
March 8, President George B..
Burrus announced.
March 3 will be the n ord date
for names of stockholders en-
titled to notice of and to vote
at the annual stockholders meet
ing on March 26. Mr.. Burrus said.
Promoted by Transit.
Directors of Capital Transit Co.
yesterday promoted Doran s.
weinstein to executive vice presi-
dent and secretary. He was vice
president and secretary.
At the same time Ralph s.
Powell was promoted to secretary
and claims attorney. He formerly
was assistant secretary and claims
attorney.
Robert E. Harvey was elected
to the board to fill the vacancy
created by the recent resignation
of John J. Manning, New York
attorney. Mr.. Harvey is vice pres
ident and comptroller of Capital
Transit Co.
Demand Deposits Expand.
Demand deposits Of IA Wash
ington member banks totaled
$685., ,141 900 on January is. a gain
OF SIS ,426, 600 from week carrier
and $43, ,853 900 above the Like 1851
date, the Richmond Reserve Bank
reported. The latest weekly gain
followed an increase Of $12 ,362. 900
in the previous week.
Total loans of $317.595. 600 were
about unchanged from the pre-
vious week. Business loans OF
$139, ,673. 900 were up 1892 900 and
real estate loans increased $319,-I
600, but brokers' loans decreased
$4,000 and other loans were
down $423. 900.
League Dinner Tomorrow.
Many distinguished guests from
the Government and Washington
business organizations will attend
A.