Evening star., 1923-02-24
0VER5)O T0ENJOY .
| BANKERS DINNER
Fess Chief Speaker-lnvest.
orS Here May Not Lose in
FaiIure-NoteS.

Five hundred and sixty-three ac-
ceptances to the annual dinner of the
washington Chapter American In
stltute of Banking, at the New Will
iard tonight had been received up to
noon today by James C. Dulin, jr,
chairman Of the entertainment COM
mittee.
Many out-of-town guests will at
tend the affair. which is the out
standing social event among the on
coming generation of banke and as
ladies will accompany the members
or the organization a most enjoyable
evening is anticipated.
There will be but one listed speak
er' Representative Simeon d. Fess of
oh1o. John j. Boobar will preside as
postmaster and the music will be
supplied by Myer Goldman. Dancing
gram.
Local Onices to Close.
Announcement was made yesterday
mat the local offices of the Cleveland
iScount Company. suite 723, Munsey
building, will be indefinitely closed
Wlthln the next few days. pending
Inc outcome of the receivership pro-
ceed1ngS instituted by w III. Hopple,
chairman Of the parent company's di-
rectorat" -%hich occurred in Cleve-
land Thursday.
George A. Harris. local representa-
tive or the company. while reluctant
70 discuss the companys affairs, on
the ground that he is not familiar
with them. authorized a statement
last night that in his opinion local
holders or the collateral trust bonds
said, are secured by mortgages de-
posited with the Hartman National
Bank Of New York. are perfectly well
secured in their investments.
$1,0OO,OOO in Bonds Held Here.
These bonds. according to Mr.. Har-
ris' statement, are practically the
only placements made by the officers
part, are liens upon the Biltmore-
Westchester Hotel of New York and
the Wade Park Manor Hotel of Cleve-
land
All bonds secured by mortgages
placed with the Hartman Bank. Mr..
Harris believes. are amply secured.
because. according to him. the bank
exercised careful supervision over the
mortgage collateral deposits with it.
Mr.. Harris said probably more than
Sl:oo0,000 Of the bonds arc held in
this territory.
Mr.. Harris has only been represent
ing the company in Washington up
until about ten days ago. when he
was promoted to vice presidency
and member of the board, having had
no say in the concerns management.
and has not attended d board meeting
since his elevation.
District National ENpunds.
At directors meeting Of the Dis
trict National Bank yesterday, Whar-
ton Z. Lester was named trust officer
10 serve for the ensuing year. MIR.
Lester is also general counsel for the
institution.
Harper. president, announced that
work will be started at once on
mezzaninc floor in the rear of the
bank. Mr. Harper said that owing TO
cramped conditions of some of the
clerical force, due to the growth of
the institution in the past few years.
it had been found necessary TO supply
more room.
The sixty-third annual statement of
the Equitable Life Assurance Society OF
the United States gives evidence OF the
company's continued progress. The new
insurance written in 1929 totaled s49o.-
100000. excluding over s4S.000,o0O OF
group insurance. The outstanding IN
surance on December 81 exceeded S3,-
oUe 900. 600. Upward OF Sill l,oOO.OOO
was disbursed to policy-holders and BEN
rfic:aries during the year IN death
claims. matured endowments dividends,
a total return of $l.596 $4,000 TO policy
holders since organization. Nearly S3o,-
900. 900 has been Set aside for dividends
to olcy-holders in 1928.
A large increase was made in the is
sue of policies payable on the monthly
income plan, as well as those taken to
protect business interests and to pro-
vide for inheritance taxes. over SO per
cent OF the domestic death claims were
paid within tWentyfour hours after re-
ceipt of due proofs of death. The state
ment calls attention to the broad scope
of Equita BILE service and to many insur-
ance needs covered by the company's
wide range of policies.