Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-02-24
GAIN IN INSURANCE
SALES IS REPORTED
January Figures 5 Per Cent
Above Same Month
a Year Ago.
BIZ EDWARD c. STONE.

day at Hartford, Conn. The increase
was well distributed over the country
and shared by 81 per cent of the con-
tributing companies. The largest sec
ttonal increase was made by the East
South Central States, which made a
gain of 16 per cent.
The South Atlantic section, which
includes Maryland, District of Column
bia, Virginia and West Virginia, as well
as five other States, registered an in
crease of II per cent. West Virginia
made brilliant showing, having a gain
of 38 per cent standing second in the
list of all the States in the Union. New
Mexico was at the top of the list with
a II per cent gain.
South Carolina had a gain of 19 per
cent and Georgia IA per cent. The Dis
trict of Columbia sales were up 10 per
cent over the January, 1929, figures
Florida was up 6 per cent, Maryland 3
per cent and Virginia 3 per cent. North
Carolina was well up the list with
gain of 16 per cent. Nine States had
a loss, Navadas business falling off 33
per cent. Massachusetts,, Ohio and
Idaho reported s, z and 9 per cent
losses respectively.
Essay Contest Subjects Announced.
President Wilmer j. Waller of the
District Bankers Association made
very important announcement at the
institute banquet when he read the
subjects selected for the annual essay
contest. The bankers council decided
to give the institute members a choice
of two topics to write on this year.
The subjects are: MY job My duties.
What are the requisite qualifications
and how may be of the greatest ser
vice to my bank in helping to increase
earnings and reduce expenses" The
second topic: How may the clearing OF
checks on nearby points be expedited?"
The three institute members winning
the first three places in the contest are
rewarded with trips to the bankers an
rual convention, which will be at Ash
Vile. N c. this year. The topics were
announced much earlier than usual to
give the contestants more time in which
to write their papers. For some reason
there were only seven contestants last
year Judging by the interest already
manifested there will be many more
this year.
Very live subjects have been chosen.
Bankers are free to state that earnings
this year will not equal those of 1929.
For that reason they want all the sug-
gestions possible to increase profits
without in any way hurting the service.
Some excellent ideas along this line are
expected from the junior bankers.
The other topic is of equal interest
and much Importance. If local bank
gets a check on RoSslyn bank, al
though the two banks may be but 10
minutes apart. the check has to be
cleared through Richmond. If a check
is given out on Hyattsville bank, to
Washington bank, it has to be cleared
through Baltimore. This serious loss
of time has often been discussed by the
local clearing house officers and will
furnish plenty of good material for
essays.
Echoes From Institute Party.
The national president. j. w. Evans,
made an unusually able speech on
keeping Step With the Times" The
keynote was the demand for better
bank man power to meet the sweeping
changes taking place in the banking
world. And in producing this man
power he believes education is the most
important factor.
He gave a vivid picture of the diff
ficultieS in keeping up with the times
because of consultations, branch
banking and chain banking. Years
ago, he said, lone could miss a stage
coach, wait three days and take the
next one. Today your little grandson
kicks if you miss the first section of
a revolving door,"
The Amos m Andy skit was one Of
the hits of the evening. 1t was writ
ten by Thomas w. Brahany of Crane,
Paris g. Co., and broadcast by two
institute members, H. Tudor Morsell
and Arthur B. Pierce. Every line in
the sketch caused roarS of laughter
Amos and Andy we're pictured as
being in Washington seeking a loan.
They almost got 1t after seeing about
all the bankers in the city and many
Government officials. Their discussion
Of bank tellers was particularly anus
f1ac Nv oil IL
teller tells the bookkeeper, the book
keeper tells the vice president, the vice
president tells the president and the
president says, 1--WE are very sorry, but
we can't make you that loan"
Financial District Notes.
Rolfe E. Boiling. president of the
Merchants Bank & Trust Co., who has
been confined to his home with a severe
cold, Is expected back at his desk We'd
nesday.
Harry G. Meem. first vice president
of the Washington Loan g. Trust Co.,
was back at his desk today having re-
covered from q severe cold
The February number of Dollars and
Sense has made its appearance and
covers the work of the junior bankers
most fully An article by Howard
Moran on the study of banking is one
The Louisville & Nashville Railroad
has been authorized by Interstate Com
merce Commission to issue 5000 900
OF flfst and refunding mortgage 40 per
cent bonds, series G, and SIS 600 600 of
unified 50-year 4 per cent bonds which
viii be sold at not less than 92.5 Der
cent OF par and accrued interest and
proceeds used to reimburse its treas
ury 10 meet maturing indebtedness and
provide funds for additions apd battar
nentS.
Today's Trading on Exchange.
The Washington Stock Exchange re-
sumed business today after the double
holiday with dull trading. Bond trad
ing was confined to Barber & Ross 615s,
which sold at 1894 and Washington
Gas IS, selling at 1902 and series A IS
at 103
Twenty-eight shares of Mergenthaler
Linotype sold at 10834, 20 shares of
Washington Railway & Electric pre-
ferred changed hands ex-dividend at
96l2 and a single share of Federal
American Co. common registered 80.
SeabOard Air Lines Net.
The Seaboard Air Line Railway gross
revenues in January were approximately
100000 less than the S522O692 re-
ported for January, last year. Net oper-
ating income also was lower than in
January, 1929, but the decline was not
as large as the approximately 100000
decline in gross. Net railway operat-
ing income in January, last year, was
1899 800.
EARNINGS REPORTED.
NEW YORK, February "a (Ao.-The
chesapeake Corporation, holding COM