Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-01-23
BOSTON COMPANY
ASSUMES POLICIES
Takes Over Local Business OF
Franklin Insurance Company
/. Chartered in 1918.
OUT-OF-TOWN BUSINESS
REINSURED LAST AUGUST
Committee of Directors to Decide on
Future of Company Within
Few Days.

The Franklin Insurance Company of
this city, has reinsured all of its local
business with the Boston. Insurance Com
pany of Boston,. according to an an
nouncement made by officials Of the COM
pany today. Last August the company
reinsured all Of its out-of-town business.
so that at present the company has no
business of any description on its books.
A committee of directors is to meet
within the next day or so to decide upon
the future Of the company.
All Of the local policyholders are fully
protected by negotiations which have
been completed with the Boston Insur-
ance Company whereby that organiza-
ton takes over all Of the business Of
the Franklin Insurance Company. The
Boston Insurance Company is q strong
concern. having a capital of $l.OOO.OOO.
assets of nearly 100000 and surplus
Of more than 100000.
The Franklin Insurance Company was
chartered by an act of Congress April
8, 1918. Its omcers are John A. Kelly.
president; Scott E. Welker. vice presi-
dent, and William D. Elicit secretary
and treasurer.
Elicit secretary of the company. has
been appointed assistant secretary Of
the Arlington Fire Insurance Company.
There was marked Improvement in
the amount of business transacted on
the local stock exchange today. The
demand for bonds was unusually strong.
Washington Gas IS sold It 1o7sal0S
and Capital Traction SIS brought 10SH.
Metropolitan Railroad SIS brought los
and Railway and Electric As S0aS2.
Potomac Consolidated SIS sold $4,000 at
par. The Potomac first SIS brought 1917.
%1A e,tr Hct oil Nd IT.
preferred sold odd and quotation lots at
80. Washington Gas stock brought "a.
Bankers to Dine.
Everything is in readiness for the an
nual banquet Of the District Bankers
Association which is to be held tomorrow
night at the New Willard Hotel. VIII
liam A. Mearns will be POSTMASTER.
The committee having arrangements for
the dinner in charge has adopted a new
plan concerning the order in which the
addresses are to be delivered. Instead
of calling upon the speakers iE accord
will determine the order in which they
are to speak after the banquet has
started.
Among those who probably will make
addresses will be Carter B. keene, d.
rector Of the postal savings system:
Senator Hollis OF New Hampshire. MEM
Der Of the Senate banking and currency
committee; Representative Glass of Vir-
gtnia, chairman of the House banking
and currency committee: Senator John
sharp Williams and former Senator Jo-
seph Bailey. Among the distinguished
guests will be Secretary Bryan and Jus
tice Mahlon H. Pitney, both Of whom
may make addresses. B. F. Saul. presi-
dent of the association, will deliver the
address Of welcome.
The Home Plate Glass Insurance Com
pany has reelected officers as follows:
John B. Larner. president: A. L. Taylor,
vice president: Philip F. Larner. secre-
tary treasurer: Thomas Somerville.
George Spransy. Byron S. Adams and
n H Bergman, directors.
Bank Officers Elected.
At the annual election Of officers of the
District National Bank yesterday after
noon, Gerson Nordlinger was elected a
vice president of the institution.
officers were reelected. as follows: Rob-
ert N. Harper. president; w. S. Hoge,
w. p. L!pscomb and B. r. Walters, vice
presidents; E. 8. Wolf. cashier: w G.
Dnolo and T 8 Mason assistant cash.