Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-07-20

and only with a clear understanding
of the effect of the transfer Of rights.
The companies engaged in insur1ng
lives have regular forms for assign
mentS and these must be used.
Forms give the right to the assignee
to turn in the policy. at surrender
value, at any time when the condi-
lions of the policy give this right.
The owner of the policy also has
the right If he so desires, to make
further assignment of rights in the
policy, but the additional assignment
will not operate in any way against
the rights of the first assignment.
Companies record assignments that
are absolute and unconditional on their
face, signatures and executed by the
insured and the beneficiary. Only by
an order of court can minors in
terest in a policy be assigned.
The possession Of policy Is an
evidence that it Is free from any
obligation, while inability to produce
the policy is an evidence of debt.
There are so many other ifs and andS
connected with policies assigned as col
lateral for loans that 1t would seem
that the local banks are wise in their
decision to pass them up, save under
valued customer.
Another Protest.
Another protest has been filed, this
time by the economist Of Fen1er q
Beane, main ONCE in New York, with
a branch in Washington, in which
exception Is taken to recent quotations
from the July letter Of the National
City Bank, referring to the continued
dizziness in business conditions. To
quote from the protest: "Only now has
the world settled down from the strife
Of war and its feverish energy used
up in an effort to rehabilitate the
postwar world on the pre-war basis
of things.
"Many changes have taken place.
Reaction on the present depression will
be on o changed world. New stimuli
are being developed. Within the past
month reports have been received from
100 countries and from every State in
signs already pointing to an early get
ting underway of business improvement.
''There are many great enterprises,
backed by Government millions, that
will be under way very soon, and these
will surely be reflected in business re-
covery."
Market Caution Advised.
All of the above may be true or 1t
of optimism with which one views the
situation.
1t is fact that in the last few days
the market, referring to the New York
stock market, has shown better tone,
that some gains have been made, gen.
orally fractional, but with several more
important advances. But as rule
commission houses put the brakes on
bullish tendencies and sought to keep
traders from extending their long lines.
Follow the market IL you will, but
go slow and be ready to turn quickly
Is more often given than any other
advice"
Reports Of earnings for the second
quarter of the year are not encourag-
ing, although the automotive trade
seems to be improving somewhat.
Building operations have fallen of
seriously, 40 per cent, as given by
Straus & Co.; mail order houses report
large decreases and money is still
drug on the market-call loans u and
2 per cent.
Enthusiastically there is some buying
for accumulation by those who are
satisfied that present prices will not 60
much lower and that they can count
on improvement some time during the
year.
The Curb Market the past week has
shown q better tone than the big
market.
Street Railways Win.
The street railways of Washington !
have won their long-sought higher |
fares. 10 cents cash, four tokens for 80 |
cents.
1t is an open question just what effect !
the increase will have on the earnings |
Of the companies.
Traction companies have long felt
that they were entitled to the increase,