Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-26

1O-Snare lOtS Until
the close, at 9SA, a gain of 3A points
over its recent slump to 95.
Potomac Electric Power 5l2 per cent
preferred came out at 1882, the per
cent preferred moved at lib and
Washington Railway & Electric pre-
ferred changed hands at 97A. Six
shares of National Bank of Washington
sold at 311la. Ten shares of Real
Estate Title Insurance Co. moved at
235 and Commercial National Co. pre-
ferred recorded 103 Federal-American
Bank stock moved at 3433s.
Recent prices prevailed in the bond
division, Washington Gas, Railway d
Electric and Capital Traction issues ap-
pearing on the board. An unusually
large number of local stocks are now
being quoted ex dividend, five bank
stocks being among them.
Life Insurance Sales Improve.
Life insurance sales in February, over
the country as a whole, showed
per cent increase over February. 1928,
End 10 per cent gain over Febru-
cry, 1927. In the South Atlantic Sec
Ion sales the increase averaged per
-ent over February, 1928. A gain of
rer cent is shown for the first two
months of the year. compared with the
came period in 1928. Sales Of the IL
month period just ended are equal to
those of the first two months of 1928.
Maryland showed a gain of 20 per
cent. West Virginia, 10 per cent; District
Of Columbia. 8 per cent; Virginia, 9 per
cent. South Carolina had a gain of
rer cent, but North Carolina dropped
II per cent behind the record for
February, 1923.
Nevada led the whole country with a
rain of az per cent and Montana trail
81 all the others with decline OF rs
Fer cent.
North Americans Net Higher
Statement of North American Co. and
subsidiaries as of December 81, 1928,
SLOWS total assets of S841 .227. 1894. COM
r2red with s727, 190,796 at end of 1927,
I'D profit and loss surplus Of S73,874,4l2,
cgainst S51,356,6l2. Current assets
mounted to $50, 492.446, including s22,-
c33, 67s cash and United States Govern
r1ent securities. and current liabilities
we're S29 $50 ,518, against current assets
cf $48,832S62 and current liabilities OF
t27,573, 538 1t the close OF previous year.
Consolidated income account for year
ended December 81. 1923, shows net in
fome Of $24,402,753 after taxes, interest:
Expectation and preferred dividends OF
r'lbsidiaries, the same as shown in pre-
urinary statement. This is equivalent
cfter 6 per cent preferred dividends to
t{68 a share earned on 4,820,476 aver
rye number of no-par common shares
Outstanding during the year and $3.50
: share on SOIL $50 common shares out
'anding at end of year. This compares
Nth S19,524.647, or S4.06 share. on
average number of shares outstanding
turing 1927 and S3.86 a. share on asa
~s3 common shares outstanding at end
cf-that year.
Teagle Seeks Oil Waste Curb.
Pointing out that failure to secure the
cooperation of oil producers in foreign
countries would render ineffective the
Efforts of American operators to curtail
crude overproduction. w. c. Teagle.
resident of Standard Oil Co. of New
Jersey, and one of the leading oil mag
rates in America, states that crude Oil
:, so easily transported that any over
s-ipply in foreign countries has the
anne effect on the world situation as
though obtained in the United States.
Referring to reports that efforts are
being made to control not only the
reduction of crude oil but also prices
IF products the world over. he says the
ole purposes of the discussions which
IRE taking place is to limit waste
through uneconomic production.
Acacia Directors Re elected.
Reelection of seven members of the
hoard of directors to serve for period
Of three years, and presentation OF the
sixtieth annual report by President
William Montgomery. featured the an
nual meeting of the Acacia Mutual Life
t,e1I A AfftrN here
yesterday.
Directors again named to serve on
the board included Harry Blake. c. c.
Combs. j. Harry Cunningham, Thomas
e. FARRELL H. L. Rust, jr., Eugene E.
Thompson, and j. p Yort. Mr. Cum
bingham is vice president. and Mr. Yort
secretary and actuary Of the associa-
ton.
President Montgomery's report to the
Acacia membership showed that insur-
ance in force now totals more than
1900 600 600; membership is above 120,-
COO; assets, more than $4,000, 900, and
new insurance paid for more than
$4,000, 900.
The directors comprise the following
members in addition to those reelected
1T the annual meeting: T. Jeff Adams
w. L. Andrews, Charles E. Baldwin,
William K Cowden, Paul B. Cromelin,
l.. Whiting Estes, E. c. Graham, James
c. Hoyle, j. Claude KEEPER, Arthur D.
Marks, John T. Meany. Joseph H.
Milans, william Montgomery, John B.
Nichols, Charles F. Roberts, l.. P. Steu-
art. E. Lee Trinkle and Francis D. VIM
ston. .--
Reserve Banks Increase Loans.
Federal Reserve Boards condition
statement of weekly reporting member
banks in 101 leading cities on March
90 shows increases for the week OF
1922 600 900 in loans, Of $75,000,0 900 in
investments and of $4,000, 900 in Gov
eminent deposits, and decreases OF
s117,000.000 In net demand deposits, OF
$4,000, 900 in time deposits and OF
55,000.000 in borrowings from Federal
Reserve banks. ,.-..
Loans on securities increased $751;
100000 at all reporting banks, $9l ,000,-
600 in the New York district, SGT ,0O0,-
COO in the Chicago district, Sill 900 000
in the Cleveland district, $7,000,OO0 In
the Philadelphia. district and $6,0OD,-
600 in the Boston district. .-,.--.-.
"All other" loans increased $4,000
900 at reporting banks in the New Yc-R
district, and declined $26,000,000 in the
Chicago district and $8000000 at al
reporting banks.
Commodity Prices Lower.
Prices of commodities during the
week ended March % showed decline
of o.3 per cent, according to the whole
sale price index of the National Ferti'
lizer Association. This followed ar
equal decline for the previous week
The chief declines occurred in leather
rubber and hides in the miscellaneous
group; in butter, lard and tallow in thu
fats group; in eggs and flour in thu
other foods group, and in grains ant
feeds. In contrast sharp advanct
occurred in copper, copper wire ant
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