Evening star., 1928-09-22


vailed in Richmond, clearings being
we'll above the previous week, but below
the same week year ago.
In the country as a whole bank clear
ings were larger than in the previous
week or year ago.
Insurance Underwriters Meet.
The event of the month in local in
surance circles was the first Fall meet
ing and dinner of the District Life
Underwriters Association at the Burl-
tngton Hotel Wednesday evening, with
A. L. Baldwin presiding. John c. Nc
Namara of New York delighted his
audience with his practical SuggeS-
tions on Insurance prospecting" He
has been brilliantly successful as an
agent and gave his hearers the full
benefit of his experience.
Wide interest was manifested in the
report of the annual national convention
held at Detroit. That a great service re-
mains to be rendered the American
public through the cooperative efforts
of the trust companies With the lie
insurance companies was the outStand-
ing thought developed at this conven-
ton. Speakers representing the great
trust companies of the country, together
with the leading life insurance men,
declared that through the cooperation
of life insurance men with trust COM
panieS it is possible to handle estates In
such way that the needs OF the family
are met in detail and at the same time
the estate is made to yield the maxi
mum income.
Judge Thomas c. Hennings, chair
man of the insurance trust COMMITTEES
of the American Bankers Association,
cited instance after instance in his own
u, I1y11fn fnla
ton of life insurance man, a trust
officer and a client had worked out
estate programs which rendered a
service of tremendous value to the
clients value.
History was written at the great De-
troit meeting when the American Col
lege of Life Underwriters presented
diplomas to the first graduating class
and granted to each one the degree
of chartered life underwater. The
American College of Life Underwriters
is chartered incorporated institution,
which lays out courses of study on
economic and financial subjects for
life insurance men and conducts eX-
aminationS in those subjects.
At the national convention, Edward
r. Brashears of Washington, was elect
ed third vice president of the aSSocia-
ton The officers of the local aSSocia-
top are A. L. Baldwin, president; H.
Cochran Fisher, first vice president;
H Lawrence Choate, second vice presi-
dent, and Harold Kraft, secretary and
treasurer.
American Ice Considers Merger.
The Wall Street Journal today says
that the consolidation of the American
Ice Co. with the Atlantic Ice & Coal
Co. of Atlanta, Ga, is forecast with the
return of c. C. Small, president of
American Ice, from Atlanta, where he
conferred with officials and leading
stockholders of Atlantic Ice. It has
been mutually agreed that some form
of consolidation would be constructive.
Engineers Of the two companies have
inspected the respective properties,
while auditors have reported favorablX
on financial conditions of the two or
CARNATIONS involved. Final consider
alton of the merger. as well as terms
on which it might be arranged, must
however, await the return of several di-
rectorS of American Ice Co. to New
York.
The Atlantic Ice & Coal Co. has
capacity of 100000 tons of ice and does
annual gross business of between $5,-
100000 and $6000,000
Taxation Committee in Session.
The taxation committee of the Dis
trict Bankers Association, Howard
Moran, chairman, met yesterday after
noon While the members have little
to say at this time yet the work so far
accomplished is highly gratifying. The
committees efforts rewarded by virtu-
ally every bank in Washington, concur
ring in the tax protest, through the
medium of forms supplied by Mr.. Moran.
The group now awaits the decision Of
the Court of Appeals, to which was
referred the test case brought in the
District Supreme Court by the Riggs
National Bank, and decided by Justice
Stafford in their favor
Serving with Mr.. Moran on the COM
mittee are Henry H. Mckee. National
Capital Bank, F. G. Addison, jr..
Security Savings g. Commercial Bank;
Joshua Evans, jr., District National;
Harry V. Haynes. Farmers & Mechanics
National, and w. w. Spaid of w. B.
Hibbs g. Co.
Heard in Financial District.
Eugene E. Thompson, president of
the Associated Stock Exchange, after
meeting of the board of governors in
Detroit, reported that the annual meet
the largest yet held
James A. Soper, president of Wash
tngton Chapter. A. I. B., states that
the chapter will offer a new course in
business English and letter writing in
the near future. 1t is believed this will
be an unusually useful course.
Bankers in the financial district were
greatly pleased to see the work started
on tearing down the old Shoreham
Hotel. Renewal Of business activity on
that corner will mean much to the
financial houses in that vicinity.
Edward j. Carver has been made
Washington representative of the Cen
tury Trust Co. of Baltimore. He for
merly represented G. E. Barrett & Co.,
investment bankers, here.
The Security Club of the American
Security & Trust Co last night opened
seasonal activities with a card party
and dance at the Columbia Country
Club
Bank Dividend; Other Notes.
At the recent regular monthly meet
ing of the directors of the United States
Savings Bank Fourteenth and u streets
northwest, the regular quarterly divi-
dend of 7h per cent was ordered pay
able to stockholders of record Septem-
Der 90.
The Life Insurance Sales Research
Bureau records August sales of ordinary
life insurance totaling $702,275, 900
about S21 900 900 better than produc-
tion a year ago. For the first eight
months of this year, sales are per cent
above the 1927 record.
The annual Halloween dance 10 o(
given by the women's committee o.
Washington Chapter, American Insti
t',te of Banking, will be held at tht
beaver Dam Country Club on the eve
! ming of october 81, according to an
nofncement by Miss Mabel V. Royce
chairman of the committee. .--.
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