Evening star., 1930-06-21
INSURANCE SALES
INCREASE IN D. c.
May Figures Show Advance
of Ia Per Cent Over Same
1929 Period.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Sales of ordinary life insurance il
May in Washington were IA per csn
ahead OF the same month a year age
according to reports received today from
Hartford, Conn. The District of Colum
bla stands fourth in q tabulation which
includes all the States in the Union.
During May, Delaware reported gail
OF 81 per cent, Iowa 26 per cent ant
Nebraska 18 per cent, these being tht
only sections to pass Washington. Mex
to this city came Minnesota with a i:
per cent advance, followed by FlorIds
with 9 per cent and West Virginia with
per cent advances.
The other States on the South Allan
tic seaboard did not fare so well. Vir.
ginia was l per cent under the recore
for May, 1929; while the average fol
the whole United States was 2 per cent
below last years figures. Maryland anc
Georgia were both bshind last years
business by per cent, while North
Carolina was 9 per cent off. South Caro-
lima made the poorest showing, agents
writing "a per cent less insurance in
May than in May, 1929. Arizona, with
drop of 81 per cent was the only State
to fail below the South Carolina record
Five-Month Record Better.
The falling off in new insurance in
more than half of the States in the
Union is laid to the fact that business
recovery in the United States has been
slower than forecasts for the year. 1890
indicated. However. the record for the
first five months is better than for May
The country as whole is 4 per cent
ahead of last year in insurance sales
The average for the Middle and South
Atlantic States is also per cent better
than last year.
In May, life insurance experienced its
first monthly decrease since September
1928. This loss of per cent was gener-
ally distributed throughout the country
Only two sections recorded increased
volume. The Middle Atlantic States
which pay for the largest volume of in
Surance of any section showed gain of
] per cent for the month. The West
North Central recorded a sectional in
crease of IL per cent, all other sections
share the decrease.
When the 12-month period, which
ended May 81, 1880, is considered, the
general increase of insurance is very
evident. Every section of the country
showed a gain and all but seven States
recorded increased sales. The United
States as whole averaged per cent
gain in insurance over the preceding II
months.
Officers and Trustees Elected.
All officers and trustees of the Amer
lean Fire Insurance Co. of the District
of Columbia have been reelected as
follows: Charles Schafer, president;
Francis A Blundon, vice president; H.
H. Bergman, treasurer: G. M. Emme-
rich, secretary: F. j. EhlerS. assistant
secretary. Directors, Charles Schafer,
Victor B. Deyber, Max Walten, Harry
M. Packard, Francis A. Blundon, Carl
j. Bergmann, A. F. Jorss, H. H. Berg
mann and G. NJ. Emmerich.
Liberty National Votes Dividend.
At meeting of the board of direc-
tors of the Liberty National Bank held
today the semi-annual dividend of
$3.50 per share was declared payable
June 80 to stockholders of record
June 25.
The Federal Reserve Bank in Chi
cago has reduced its rediScount rate
from to 3!2 per cent, effective today.
the Federal Reserve Board announces.
The New York member bank has
dropped its rate to 212 per cent-the
lowest since the board was organized
and the Cleveland and Boston banks are
on a 3l2 per cent basis with the others
still keeping the 4 per cent rate.
A Treasury surplus of approximately
Sl40 200, 600 was forecast yesterday for
the close of the fiscal year June 80.
Poole Of to Rotary Conclave.
John Poole, president of the Federal
American National Bank, and Mrs. Poole
left Washington today for Chicago to
attend the Rotary convention, the or
ganizations silver anniversary. Mr..
Poole has been prominent in Rotary for
q number of years. serving as president
Of Washington Club in 1918: elected
af Nfo Jy1fn T,ys
1918, at Kansas City, presiding at the
convention in Salt Lake City in June,
1919.
DOOIey Wins A. I. B. HOnorS.
Frank NJ. Perley, president of Wash
ington Chapter, American Institute Of
Banking, telegraphs from the Denver
convention that Aubrey o. Dooley, as
sistant trust officer of the Federal-Am-
erican National Bank, has been ap-
pointed chairman of the national pub
licity committee of the institute.
Dollars and Sense, the Official publi-
cation OF Washington Chapter, was ad-
judged the best publication of the kind.
The institute also awarded a prize to
the chapter publicity chairman who OBJ
tanned the most news during the year
and Mr.. Dooley was awarded this prize.
Other Financial Notes.
Thomas J. Mangan, jr., manager of
the Washington Office of Hemphill,
Noyes g. Co, and Robert J. Carpenter
of that Office have returned from a
business visit in New York
The Chesapeake & Ohio Railway, in
Guiding Hooking Valley Railway, May
surplus after charges S3,260, ,093, against
$2,97l ,211 in May, 1929; for five months
$12238,805, against $I2,337, ,504.
May automobile production in United
49, A-A~ IL : -
442.635 in April and 604,691 in May,
1929; for five months 1888, ,616, against
2,679,511 in 1929 period and 1,804,725
in 1923 period
There were 500 names on the petition
for holiday on the New York Stock
Exchange on July up to yesterday
Local brokers expect the holiday will
he granted