Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-07-11
COUNTER AT HEAD
| OF |NSURANCEF|RM
American Underwriters, Inc,
Chartered in Maryland,
Opens Offices.
BY EDWARD C. STONE.

by EDN AtD u. SIONE.
Capitalized at 100000. the Ameri-
can Underwriters Inc, has been char
tered under the laws of Maryland and
will open offices at once at No. 1
Thomas Circle, this city, and carry on
fire insurance business. William S.
Quinter of Washington heads the prof.
ect He has been engaged in this line
Of business for IS years. is president
of the District Building & Loan Asso-
ciatior. and the Building Association
Council.
Among the other officers and direc-
tors are: Maj. Gen. Anton Stephan,
president Merchants and Manufac-
turers' Association. treasurer Real
Estate Mortgage & Guarantee Co.
managing director of Dulin & Martin;
w. Spencer Armstrong, counselor at
law, vice president Columbia Title
Insurance Co.. also Real Estate Title
Insurance Co: John T. Meany. presi-
dent Stone & Fairfax, real estate
and insurance; director Acasia Mu-
tual Life Insurance Co; Stanley
II. Horner, president Washington
Automotive Trade Association and
Stanley II. Horner, Inc; Edward
q,
&c Loan Association, director Security
Savings & Commercial Bank; Hubert
r. Quinter. secretary Wardman Con-
struction Co., secretary Wardman
Mortgage & Investment Co., Ward
man Park Hotel Co, manager Ward
man insurance agency; RI. V. Speel-
man, formerly register of Treasury.
The officers of the new firm expect
to take in several smaller companies,
and believe that Washington and
Maryland offer a fine field. The In
crease in the insurance business in
the past six years has been very
rapid, equal one report says, to the
preceding IS years.
Bankers Meet Tomorrow.
A special meeting Of the District
of Columbia Bankers Association
will he held at headquarters at 400
tomorrow afternoon. w. w. Spaid
presiding. 1t promises to be a very
interesting session.
The recommendation made by
Francis G. Addison, jr.. at the con-
vention at Hot Springs regarding real
estate notes will come up for discus
sion and action. The substance of
Mr. Addisons conclusions were that
"all real estate notes other than first
liens should be identified and certified
to by the title companies, or at least
by a notary public, and complete
papers, including title certificates, in
surance policy and recorders receipt
for the deed Of trust, should be fur
nished in every instance where loans
are requested against said notes as
collateral"
Some of the local bankers were so
CT ctfr a mr.
ton that thdy wanted to adopt it at
once. However. it was voted to have
Mr.. Addison's address printed in full
and copies furnished each member
and every point in it considered at a
special meeting. It's Importance as
sures a large turnout at today's
session.
A. b. A. Convention Plans Ready.
Details as to reduced railroad fares,
hotel reservations and other arrange
ments for the American Bankers AS
ISOLATION convention, to be held at
Houston, Tex, October "a to 27. are
announced by Secretary w. G. Fitz-
wilson.
Round-trip tickets on the identified.
ton certificate plan will be sold at
one and one-half fare to delegates to
the American Bankers Association
convention and immediate members Of
their families. Tickets will be good
only via the same route in both direc-
tons. Stop-over privileges will be al
lowed going and returning, or both.
The name of the person to whom the
certificate is issued, also the names
of the dependent members of inn
mediate family. If more than one
ticket is purchased. should be filled
in before the identification certificate
is presented and surrendered to the
ticket agent. Non-members of the
association will not be entitled to the
privilege Of these reduced fares.
Insurance Men Meet This Week.
The July meeting of the District
Life Underwriters Association takes
place Thursday at 1915 at the
Raleigh Hotel. Norman r. Hill of
Williamsport, Pa, will be the speaker.
Mr.. Hill is a special agent of the
Northwestern Mutual, and is said to
have tripled his business in the past
seven years. He is expected to tell
the Washington agents just how he
did it.
The following membership appli-
cations are to be voted upon: Ralph
X. Benner, Union Central: w. r.
Wills, Travellers; w. c. Daniel, Acacia.
and L. II. Riggles, Phoenix Mutual.
At the last meeting of the association
President Cremen named these COM
mittee chairmen:
Educational, George B. Farquhar;
field practices, G. Lea Stabler; general
agents, Edward S. Brashears; leglsla'
ton, II. l.. Choate; membership, Leo
Lloyd; sales congress and conventions,
F. r. Strunk: publicity, J. A. Maloney'
and cooperative civic agencies, wal
lace Hatch.
Broad Trading on Exchange.
Two hundred and eighty-six shares
of Potomac Electric Power 51a per
cent preferred stock changed hands
on the local exchange today, the price
remaining at 1915. There were SIX
transactions in Riggs National Bank
stock at AIS, 476 and 475h. Two
sales in Liberty National took place
at 207.
Lanston opened at 9sh and ad-
vanced to 991a, sales totaling SO
shares. Federal American Co. COM
mon sold at "a. later advancing to
34I2. Capital Traction remained at
los. Bonds were steady at recent
prevailing prices.
Financial District Notes.
The local institute delegates were
due in Detroit this morning. 1t was
expected that 5000 delegates, repre-
senting 1872 chapters, would be pres
ent at the opening of the five-day
convention.
The National City Co. and other
bankers today announced an Offering
at 95 and interest to yield over 6.36
$50, 900 900 Central Bank for Agricul-
ture, Germany, farm loan gold bonds,
due July Is, 1860.
Robert Garrett & Sons today Of
f1cially announced the new. issue of
$780, 900 first mortcace bonds of the