The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1928-07-21
REPORT
SHOWS Good
GAINS
b. RICHARD HATTON


Continued business gains are re-
ported for the Acacia Mutual Life
Association by William Montgomery.
president. According to figures in
Montgomery's hands. the volume OF
Acacia's business is well above the
corresponding period last year, and
they presage record breaking level
OF activity for the full year 1928.
New business for the first six
months OF the year amounted to
approximately $4,000, 900. The assoc
citation now has $4,000 policies in
force to a total amount Of $3.50, OOO.-
900. Total death benefits paid thus
tar this year reach $4,000
It is pointed out by Montgomery,
In emphasizing the Importance Of
the Acacia Mutual Life Association
as a factor in the economic life of
the National Capital, that the organ
ization has $4,000, 900 of insurance
in force in Washington and vicinity.
Furthermore. a very large volume
OF mortgage loans are placed in and
around the National Capital.
Club Popular
That the Acacia Club, OF which
policy holders are members, and
which has been set up in the mag
nificent new Acacia Building at 101
Indiana Ave. N. W., is proving a
highly popular and valuable service,
Is stated by Montgomery.
Housed in a series of spacious
and splendidly equipped rooms on
the first floor of the imposing
10-story Acacia home office build
Ing. recently completed, the Acacia
Club has been visited and utilized
by scores OF Acacia policyholders
visiting the Capital this summer.
Holders OF the Acacia Club mem.
bership card are free to use the
club and its privileges to the
fullest extent. These privileges IN.
ciude all Of the services found
in any well-appointed club. In
addition. visiting Acacians find a
complete information service at
their disposal.
announcement was made at Aca.
cia headquarters yesterday that
Leo r. Stamm, Chicago supervisor
Of the association. has been elected
to the board of directors of the
Chicago Association OF Life Unuer-
writer's in recognition OF his ability
and knowledge and efforts to pro-
mote higher standards within the
profession.
Check Volume Big
Measured by the volume OF checks
passing through the banks for pay-
ment. trade during the week ended
July IL was greater than q wear
ago but somewhat smaller than in
the previous week. according to the
weekly statement or the Depart.
m1ent Of Commerce. Operating ac.
tfyity of steel plants, although
showing a decline from the preced-
ing week, was greater than year
ago. The value OF new building
contracts awarded during the week
was greater than in the previous
week but showed a decline from the
same week of last year. Whole
sale prices. as reflected by the gen
eral index. showed a further gain
over both the previous week and
the corresponding period OF a year
ago. Prices for cotton and iron and
steel, however, showed declines
from the preceding week while iron
and steel prices declined also from
last year. Copper prices showed
practically no change from the pre-.
vious week but were still sub
stantially higher than year ago
Loans and Discounts
Loans and discounts of Federal
Reserve member banks were higher
than year ago but showed a re-
cessi0u from the preceding week
Loans to brokers and dealers by
member banks in New York city
showed a decline from the preced-
ing week but were still consider
ably higher than year ago Stock
prices averaged higher than in
either the preceding week or the
corresponding period of last year.
Interest rates on time money again
showed no change from the pre-
vious week but averaged higher
than in the same week of year
ago. Bond prices averaged lower
than In either the preceding week
or the same week of last year.
Interest rates on call loans aver
aged higher than in either prior
period. Business failures were more
numerous than in either the Dre-
ceding week or the same week Of
1927.
The council of administration of
the District of Columbia Bankers
Association has appointed j. I.
ExniciOs, president of the Depart
mental Bank, as the vice president
to represent the State bank d1.
vision OF the American Bankers
Association for the District of Co
lumbia.