The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1928-07-12
INSURANCE Or
.VET to- Be
GUARDED
BY RICHARD HATToN


''The action Of Congress in amend
tnE the world war veterans act dur
ING the closing hours OF the last ses
sion, win permit any veteran hold
ing A converted Government insur
ang policy to protect 1t by Il trust
agraernent walter S. McLucas
president trust company division
American Bankers Association, and
chairman OF the board. Commerce
Trust Connpany, Kansas City. No.,
said.
This means that it will be possible
for anyone carrying such Govern.
ment insurance to have the proceeds
Of his policy made payable to trust
company or bank as trustee. which
will invest the money safely for the
benefit Of his heirs and pay the in
come from Il. or part OF the pri1-
cipal il desired, in accordance with
his wishes.
On last April there were CSC, $50
holders OF Government insurance
policies, having a total value of
$S,226, 100000. Thus it il proba BILE
that a considerable part of this
large sum ultimately will be invested
FOR the benefit of many veterans
families by institutions skilled and
experienced & this matter.
Employees Get Stock
The packers of Bee Brand and Ban
aust Brand products, in Baltimore,
have just ANNOUNCED through Pres
ident Willoughhy "A. Mccormick
that they have given q share Of com
mon stock to every empIoye who has
been on the payroll for two years or
longer. Hundreds of employees par
ticipate in TIL bonus and the stock
has a market value Of about $l1O
per share. The company has given
its employees stock bonuses on three
former occasions.
Joseph Schiavone, formerly pres
ident of the International Ex-
change Bank and now head Of
the Schiavone Government Depart
mental Service in this city, is
giving much of his time to the
political campaign. being especially
active in his home State Of New
Jersey, but lending hand wher..
ever necessary in the interest OF
Governor Smith. The former Wash
irgton banker has large influence
In Ita1io-Anerfcan circles which
he Is now exerting for the Demo-
cratic candidates.
New Directors Named
Nine new directors have been
elected ~ the washington Assoc
citation 81 cfedit Men. They are
Il. j. CLANCY, r. w. White. II. r.
III. Siddons, ". c. Hanson. NJ.
M. Watson. r. C. Dyer, r. H.
Simpson, r. e. l.. Hall and e.
L. Mcintosh. Lister T. Watts,
Of the Standard Oil Company Of
New Jersey, was unanimously re.
elected president and w. 8.
Simpson was elected vice pres
ident. John A. Reilly was re-
elected secretary and William G.
Buchanan was reelected treasurer.
The regular monthly meeting
of the District of Columbia I'm
darwriters. Associa ton viii be held
at the Gordon Hotel at noon toda !.
Assistant Cashiers e, NJ. Amick
and n. b. O'Eeal, Of the Riggs
National Bank, are on vacation
ard are ut present motoring
through Canada.
Harry w. F1nney, of r. e.
Booker and Company. is spending
his vacation at Fayetteville, Md.
Mortgage Study
A nationwide study OF real
estate mortgage Investments has
eliminated in the publication of
a Program of Procedure" by the
board Of governors Of the Mort.
gage Bankers Association of Amer.
lea. The procedure recommended
by this body is based upon the
published findings Of the associa-
ticn's research committee after
year Of investigation and confer
encss, and will be applicable to 400
member hanks and investment
houses located in 30 States. B. r.
saul, Of Washington, is a mem.
Der Of the committee.