Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-07-20
INSURANCE JUMPS
10 PER CENT HERE
in MONTH OF JUNE
Delaware Alone Exceeds
Capital in Advance, Re-
ports Reveal.
POLICIES ALSO GAIN
IN FIRST HALF YEAR
Less Competition With Stock Mar.
ket Given as Reason for Nota-
BILE Progress.
BY EDWARD C. STONE.

Insurance sales in Washington In
June showed an increase of 19 pei
cent over the corresponding month &
year ago, according to a report re.
ceived yesterday from Hartford. Tht
District of Columbia was second in the
list covering the whole country i'll the
policies written, Delaware, with q "a
per cent advance, leading the pro.
ceSsion.
In this territory West Virginia re.
corded a gain of 8 per cent, Florida
per cent, Maryland / per cent, while
Georgia did per cent less business
South Carolina reported an 8 per cen,
drop and North Carolina IL per cent
slump compared with last years June
business.
The report states that Virginia wrote
practically the same amount of inSur-
ance as in June a year ago, being
the figure in the gain or loss column
The splendid showing made by Wash
ington is more clearly evident when
it is stated that the average sales for
the whole United States in June re-
vealed loss of per cent compared
with June, 1929.
Six Months Gain Reported.
Next to the District of Columbia in
0eSpect to sales came California with q
gain Of II per cent, followed by Maine
and Vermont with Is per cent each and
Illinois with a 10 per cent boost. New
Mexico agents had the hardest shedding
during June, business taking a "a pei
cent tumble. Business in Montana was
of 26 per cent, down 19 per cent In
Mississippi, and II per cent in Mich
igan, Louisiana and Alabama.
The Hartford bureau also reported or
sales for the first six months Of 1880
noting an average of per cent over @
yea rago, despite the business depreS-
sion. The advance was well distributed
throughout the country. The bureau
considers that this record proves bust
ness is slowly but definitely returning
to normally.
A year ago the insurance salesman
had to compete with the stock broker
for the consumers dollar. The stock
market offered a quicker but less GER
tain means of building an estate. To-
day, the report adds, the public has
lost . little Of its confidence in the
ability of the market to amass for
tune quickly.
In addition to figures for June and
the six months of 1880, the Research
Bureau gives figures showing the trend
for the past year. For the II months
ending June 80, 1890, the United States
as a whole purchased per cent more
insurance than in the 12-month period
o year ago. During this period every
section of the country experienced
gain. Only eight States failed to share
the prosperity that such figures indi-
cate.
Booklet Gives Investment Facts.
A wealth Of information of interest
70 investors in securities Of Washington
corporations is contained in the 1880
edition of Facts and Figures on Wash
ington Securities" just issued by Y. e
Booker e. Co., investment bankers, 150s
H street. Oficials and directors OF
Washington banks will be particularly
interested in that portion of the book
let devoted to bank statistics. In this
section is given in convenient form
comparison Of the items of surplus and
undivided profits on June 30, 1880, and
June 29, 1929. It also gives COM
parison of the total deposits OF each
bank as Of June 80, 1880, and June 80
1929. as well as the high and low quo
tations for the year and DIVIDENDS
paid. ~ .u.
gross and net earnings OF the Var1ou:
public utility companies Tor the pas,
i've wears as well as a comparison Of
the earnings for the first five months
of 1880 with the same period OF 1923.
A substantial increase in earnings
Of the Potomac Electric Power Co. 1or
the first flve months OF iSS0 re-
vealed, the net being $l,877 1886, as
compared with $i,716,203 for 1929.
Utility Earnings Compared.
The washington Gas Light Co
showed a decrease in net for the flve-
month period of $23,576, the figures 1or
1880 being 1859 ,632, as compared with
$593,208 for 1929.
Figures given for the street railway
companies reflected the inroads being
made on their traffic by automobile
competition. The Capital Traction Co
suffered the greatest loss. The net
earnings for the five months ended May
81, 1880, being 1928 POT, which is de-
crease of $50, 1894, as compared with tnS
same period last year. During TIM
same period the Washington Railway
& Electric Co. showed loss IN trans.
portation operations of $9,085. TN
figures for the first five months OF 1881
being $233, ITO, as compared with $242,'
ass for the same period in 1929.
The booklet also gives detailed infor'
nation as to the capital structure OF al
the securities listed on the Washington
Stock Exchange, including DIVIDEND
dates. high and low prices for the year
call prices of preferred stocks and bono
AND nuCn
value to those interested in Washington
securities.
Would Move Reserve Board.
As noted in The Star at the time
the executive council of the American
Bankers Association, at the Sprln
meeting had a very lively two or thre
hour discussion over the proposal !
move the headquarters from New Yor
to washington. The proposal wa
finally voted down. This months Bank
ers' Magazine praises the action an
even goes further, having this TO sa
about the Federal Reserve Board:
I'm refusing to sanction the remoVs
of the headquarters of the America
Bankers Association from New Yor
70 washington, the Administrative Com
mittee of that organization has acte
wisely. AS the financial center Of tn
United States New York is the prope
place for the headquarters OF an OF
ganization representing the bankers {
the country. Even IL a removal to som
other city should ever become desirable
Washington ought to be left out OF con
sideration.
ITO begin with. that city is of littl
Importance from a banking standpoint
1t is a center of legislative and otht
governmental activities. And that
precisely the reason why the America
Bankers Association should never IL
cate it's headquarters there. The heac