The Washington times., 1927-04-20
UNDERWRITERS
TO MEET
d RTCHARp HATToN

Jointly sponsored by the Life Tn.
derwriters Association Of the Dis
trict Of Columbia and Baltimore the
Congress Of Life Underwriters will
meet in their ninth annual conven.
ton at Wardman Park Hotel on
Thursday. In the afternoon practi-
sal talks by successful life insurance
men Of nationwide prominence win
be Of interest and valus to members.
= banquet has been arranged for
the evening. It Is expected that
more than 1000 life insurance men
ana women will be present at the
afternoon session and the BANQUET.
This gathering is considered the
NE insurance event Of the year in
local life underwater circles and the
afternoon program includes ad.
dresses by James A. Whitmore,
agency manager, Phoenix Mutual
Lite; A. n. Kollenberg, Mutual
Benefit Life, Grand Rapids, Mich;
Charles II. Langmuir, third vice
President. New York Life Insurance
Company; J. Elliott Hall, Penn
Mutual Life, and other features, in.
eluding discussions by statesmen.
Committee chairmen in charge Of
the meeting are: General chairman,
George B. Farquhar and Frank RI.
Strunk, Washington, and Marion 3.
freeman and Fred Al. Mason, Balti.
more. Finance: Russell 3. Free
man. Washington, and Charles w.
Sloan, Baltimore. Registration: John
r. Cremen, washington, and Bern.
ara 3. Cough, Baltimore. Trans.
portation: p, 1. Rogers. washington.
and p. j. Becker, Baltimore. Speak.
ers: II. L. choat. washington. ana
Arch w. Peake. Baltimore. Pub.
ton, and Andrew J. Krug, Baltimore.
BanQuet: a. w. Deffenderfer, Wash.
lngton, and Friend Z. Wells, Balti.
more. Music: N. =. Ellsworth,
washington. George B. FarQuhar
y president Of the Washington asso.
citation.
Following recent action Of the
board Of directors Of the Second
National Bank and the receipt Of
g certificate of approval from the
Comptroller Of the Currency, the
capital Of the bank has been in
creased from 100000 to $3.50, 600.
All new stock issued in conformity
with the increase has already been
sold to stockholders Of the institu.
ton at SITS a share.
The present action adds $751;, 500
20 the surplus of the bank, making
the total surplus now $4S7, 500 and
the present total capital and sur
plus $1,237 900.
The ice industry has been bene-
fitted rather than hurt by the COM
petition of the new household
mechanical refrigerators, according
to a review just issued by g. M. r.
Murphy & Co., of New York city,
with local offices at 1416 II ST.
N. w.
National advertising Of the value
OF refrigeration carried on by the
manufacturers of household mechan-
ical appliances has benefited all
who supply refrigeration for house
hold use. whether in the form Of
ice or machine says the Murphy
review.
'.The net result to date Of the
campaign to distribute mechanical
refrigerators of household size has
been to take from the iceman an
annual volume Of business esti.
mated at 100000 tons, or nearly
about one-quarter Of the average
annual percentage Of increase in
volume. In other words, 1t has
not merely failed to reduce the
annual volume Of the ice business:
Ii has effected moderate reduction
II the average annual rate of
growth.
1.-THE growth in volume OF bust
ness in the manufactured ice in.
|. dustry in recent years has been
striking. According to figures com.
piled by the National Association
of Ice Industries, their output In
1914 was approximately $4,000, 900
tons and in 1925 49,7O0, 900 tons.
This means an average increase of
6.8 per cent per annum.
Ben Talbot. for many years one
Of Wall Streets leading financial
editors, has become associated in
an advisory capacity with the New
York Stock Exchange firm Of Fen.
rer and BeaIle.