Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-22
DROP IN INSURANCE
TOTAL is REPORTED.
Policies Written in November
Show Decline of 9
Per Cent.
By EDWARD 9. STONE.

per cent under the amount sold in No
vember, 1929, according to the monthly
report received today from Hartford
Conn.
The United States as a whole did not
record as good showing, sales being
II per cent below the corresponding
month last year. Delaware was the only
State in the Union that made gain
4 per cent over November, 1929
Among the Southern States North
Carolina made the best showing. sales
being off but per cent from last year.
Florida was the same as Washington,
while life insurance sales in Maryland
were of IA per cent, South Carolina
and Georgia II per cent, West Virginia
19 per cent and Virginia % per cent.
Alabama and Tennessee were off 81
per cent and Mississippi was at the bot
tom of the list with a drop of AZ per
cent in November insurance. Kentucky
made @ / per cent better mark than
the District Of Columbia and Idaho,
Nebraska, New Jersey and wyoming
also stood above the District in the list.
The report adds that the volume of
ordinary life insurance written in the
firSt IL months of 1880 was larger than
In any previous year except 1929. Max
ing conservative estimate for Deem
the single exception of 1929, make a
new record for all years.
Sales this year will be over $1,000
1000 greater than in 1925 an in
crease which practically equals the
amount the entire country paid for in
1900. If 1880 sales of ordinary life in
Gurance are compared with 1920 the
volume is over half again as large;
compared to is years ago, the insurance
q eyafF nf oil
cent, todayS report concludes.
Bethesda Bank Votes Dividends.
Directors of the Bank of Bethesda
have declared the regular seni-annual
dividend of per cent and also an eX-
ira disbursement of l per cent. Both
are payable December 81 to Stockhold-
erS Of record December 20. Bank of
Bethesda stock is Lifted on the Wash
ington Stock Exchange, the last sale be-
ing recorded at So.
The average yield of all common
stocks on the New York Stock Ex-
change, which is computed monthly by
Moodyis Investors Service, exceeded
$50 per cent at recent market lows.
This compares with 3.35 per cent at the
beginning of the month, sos per cent
ON November Is, 1929, and 9.92 per cent
on August "a, 1921. The peak average
yield In the current bear market there
fore closely approaches the 1921 peak,
when money rates were more than
twice rs high as at present.
$10.5O a Share for A. T. & T.
It is probable that American Tele-
phone & Telegraph Co. for 1880 will
show net income of about $168, 100000,
or $1,000 a share, on about 10000 900
average shares outstanding, says the
Wall Street Journal That would COM
pare with $166, 1879 ,758, or $1267 a
share ON an average of only 13,113,746
shares, in 1929. Thus the company
viii have earned the SO dividend re-
quirement on its stock, with $3.50 to
spare, despite the large increase in
shares and the adverse effects Of the
depression.
Telephone business this year has
been decidedly fat, and while the re-
suits are considered satisfactory in view
Of general conditions, the increase in
earnings is well below what telephone
officials regard as a normal increase"
Both dividends received from associated
companies and actual telephone rev.
enues will show a gain for the year.
During the year, the Journal adds, a
severe shrinkage in the rate Of gain in
new stations was suffered by the Bell
System, and 1t Is probable that the
net increase viii be the smallest IN 20
years.
TOday's Trading on Exchange.
Moderate trading was recorded on
the Washington Stock Exchange today
ct the opening session of the week.
The nrst sale was a five-share lot of
Capital Traction, which moved ex-
dividend at 43L4.
Potomac Electric Power 6 per cent
preferred came out at 1117s, followed
by later small sale at 110Ia. The
81 per cent issue sold at 1879.
Five shares Of Continental Trust Co.
stock appeared on the board at 100
and small sale Of Woodward & 10th
rop preferred was recorded ex-dividend
1T lot.
Lanston Monotype figure in four 10
share lot sales at 103 The bond mar
ket was wholly neglected.
Local issues now being quoted ex-
dividend, payments being due in a few
days, include Commercial National,
District National. Lincoln National,
National Metropolitan, Bank Of Bethes-
da, Commerce e. Savings, Potomac
Savings, United States Savings, Nation
al Union Insurance Co., Columbia
Medical Building, Emerson Bromo-Sel-
ger A, Federal-American Co. common
and preferred, Merchants Transfer g.
Storage common and preferred, Mer-
genthaler Linotype, National Mortgage
g. Investment preferred, Real Estate
Mortgage & Guaranty preferred, Carpet
Corporation, Woodward & Lothrop
Capital Traction and Norfolk & Wash
ington Steamboat Co.
Members of the exchange consider
this notable list of local securities
TO be paying dividends at so nearly
the same time, The list even contains
some extras.
Heard in Financial District.
So far as can be learned, every bank
in Washington that voted a Christmas
bonus last year has or will take the
same action again this year The
many banks that have already followed
their usual policy have brought keen
delight TO their employees in year in
which extra money is so much needed.
I. A. Fleming is planning to pass
Christmas IN Washington and leave here
soon afterward for his Winter home at
Melbourne, Fla.
T. Hunton Leith, member Of the ex-
ecutiye council of the American Insti-
tute of Banking, has returned from a
trip to Delaware where he visited
chapters In his jurisdiction.
Chesapeake 81 Ohio (including Hook
ing Valley Ry) eleven months net S4.14
q common share, against $4.37 share
IN like 1929 period.
The annual meetings Of all the ma
tional banks In Washington and of sew
eral others will take place on January
10. Several new directors are always
elected at this time, although a number
of banks have filleo vacancies during
the year.