Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-24

months almost 100000 tons, a gall
of IL per cent over the corresponding
period of 1928, and record figure 70
all time.
Automobile production, which fur
nishes a valuable indicator of the gen
eral buying power of the community
was more than so per cent greater thar
during the first four months of las
wear. over 1000, 900 cars and trucks be
ing turned out.
"A still broader measure in the eX
panSion of industry is furnished by TIT
fact that the number of employees II
factories was per cent greater during
the first four months of 1929 than ir
the same period of the year before
while the increase in the amount Of
nay rolls, by reason Of more continuou;
employment, and perhaps also Of higher
wage rates, was much greater still
amounting to 9 per cent.
"The only important field in which
decline in activity has thus far been
reported is that of residential construc-
tinn. by reason of which the total value
of new building contracts of all classes
was II per cent less than last year.
"On the other hand. new contracts
for commercial and industrial buildings
and for public works and utilities were
considerably larger than last year"
white Heads New Corporation.
Frank White. formerly treasurer OF
the United States, who recently re-
signed that post after seven years OF
service. to enter business, has been
elected president of the National Assets
CORPORATION of Delaware, an investing
company of the general management
type. which will devote particular at
tention to the stocks of banks and OF
trust, insurance, title and surety COM
panies.
CORPORATION will consist of 900 shares
of I per cent cumulative preferred stock
of SIS par value and 100000 shares
of no par. value common stock. The
CORPORATION Is empowered to purchase,
sell hold and trade in stocks and Sc
curities of any kind, either foreign or
domestic; to participate in underwrit-
inrs and syndicates, and to engage in
such other investment activities as its
board of directors may determine.
Mr.. White has host OF friends IN
Washington, who will be interested 10
know Of his latest move in the business
world.
Maryland Leads in New Insurance.
Sales of ordinary life insurance dur
ing April show IL per cent increase
over the same month of last year. Sew
enty-one per cent of the reporting COM
panies show increased sales in this
month and all sections Of the country
report gains Of at least 4 per cent over
April, 1928.
For the first four months of 1929 the
volume Of ordinary life insurance sold
in the United States was 9 per cent
greater than sales in the same period In
during
this period.
The 12-month period ending April 80,
1929, shows that the country has pur-
chased per cent more insurance in
the past year than in the preceding IL
month period. These figures are issued
by the Life Insurance Sales Research
Bureau and are made possible through
the cooperation of companies having
in force SO per cent Of the total ordi-
nary life insurance outstanding in the
United States.
The South Atlantic section gained
per cent in April over April, 1928. For
the first four months of 1929 these
States gained 2 per cent. Maryland
shows the largest gain in this section
for both the month and the year to
date. For the 12-month pertiod just
ended this section fell slightly below
the volume sold in the preceding H.
month period.
The East South Central States
gained 4 per cent in April over April
last year. All but Alabama share this
monthly increase. During the first -four
months of 1929 this section increased
its production over / per cent over the
same period in 1928. For the 12-montf
period just ended the section increased
2 per cent over the preceding IL months
Compared with April of last year, the
District of Columbia reported a gair
Of per cent, Maryland. 81 per cent
West Virginia. Is per cent; Pennsyl.
vania, IS; Kentucky, z; Tennessee, 6
Georgia, 8; Florida, 8; Virginia. 2
South Carolina, l. Alabama, per cen
loss, and North Carolina, 10 per cen
loss OF all the States Utah led. with
81 per cent gain, while Delawar,
trailed all others, with 81 per cen
DECLINE
Capital Traction at New Low.
Capital Traction featured the Wash
ington Stock Market today by selling a
a new low mark for many many years
During the session it reached 947s, bu
closed at 95. The stock figured only II
odd-lot trading in several separat
transactions totaling SO shares. /
opened at 9515.
There was a good sized turnover IL
Mergenthaler Linotype at 1063s ant
1861 Eighty shares changed hand
during the day. Norfolk g. Washington
Steamboat registered a 40-share trans
fer at 300, Potomac Electric Power pc
cent preferred recorded a tiny sale q
113 and the 51a per cent preferred sol
at l06 and 10534, both stocks being e
dividend. Four hundred shares of Res
Estate Mortgage & Guaranty preferre
moved at III.
In the bond department City & Sub
urban SIS sold at 81 Y, Potomac Electri
Power consolidated SIS at 102 and Wash
ington Gas IS, series B, were popular
104. The A gas bonds moved at 1927
The bond market closed with Capt.;
Traction SIS selling at 97l2.
Observers of the local market sta
that some of the recent selling in ceI
tain issues has been by investors WI
wished to protect securities which the
are carrying on the New York StoC
Exchange.
Cleaned in Financial District.
M Meehan g. Co., members of Il
New York Stock Exchange, will opt
an ONCE tomorrow in the Washingtt
Hotel The local manager will be Frau
j. Thiel, for % years with the Urea
ury Department. Robert F. Cahill
to be associated with the Washingt'
Office. He is son of the James
Cahill, at one time vice president
tn. Commercial National Bank.
NJ A. McAnallen of Washington, wi
has been prospecting for natural g
in Pennsylvania for several years, +
ports the finding of an excellent NJ
Of gas in the Specify field in Clari
County in the western part OF the Sta
Mr. McAnallen has been connected WI
the United States Treasury fQw 10
TINA. y. --..A.