Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-19
WASHINGTON FIRST
IN NEW INSURANCE
District Records Show In
crease of 13 Per Cent
During August.
BY EDWARD c. STONE.

Washington reached the top Of the
ladder in the amount of insurance writ.
ten in August, showing a gain Of /;
per cent and beating the record o.
every other section Of the United States
Florida reported gain of - per cent
Maine 9 per cent and California per
cent, while every other State in the
Union announced loss in insurance
written in August, compared with Au-
gust, 1929.
Figures Just completed at Hartford
and forwarded TO The Star today show
a#loss of 10 per cent for the country
ash whole the most pronounced fall
ing off in the insurance business of any
month this year Early in the year the
average for the country revealed a gain
over a year in spite of the stock mar
ket crash Of last November.
The gains were maintained through
April In May the months business
showed a slight decrease, which was
also felt in June and July. The August
decrease of 10.4 per cent was not in
huenced by any particular section.
The August figures for Maryland
showed a drop of 16 per cent in bust
ness, insurance business in Virginia fell
of per cent and West Virginia lost
II pei NGIils AilADlAn WAC db VIC wv
tom Of the list with a decline of 30
per cent. Among the Southern States
Alabama was of II per cent, North
Carolina IS, South Carolina %, but
Georgia lost only per cent
When the first eight months of the
year are considered ordinary life in
surance shows an increase. The volume
OF insurance sold in the first eight
months OF this year is larger by per
,1rFr,@ n for fNN
same period last year. The Pacific
States stiH continue to show the largest
gain. but the West, North Central and
Middle and South Atlantic also show
a gain during this period. In contrast
to only three States and the District
of Columbia for the month Of August,
for the eight-month period, % States
are ahead of their 1929 volume and
3 States just equal what they paid for
in the first eight months of 1929.
The research bureau has figures for
the 12-month period which ended Au-
gust 81. 1880 This period shows gain
Of 3 per cent over the preceding year.
Only one section, the West South Cen
trail. failed to equal its production in
the preceding IL months
Paris Death Shocks Bankers.
Deep regret is heard in the financial
Paris a leading financier here for
nearly 40 years While a co-founder OF
the Investing firm of Crane, Paris a.
Co. he had not been active for many
wears. although he still had desk in
the Office and dropped into the office
nearly every day when in the city. He
often recalled the days when he took
a horse and buggy and drove about
the city delivering securities.
L. 4 81 h.
ington Stock Exchange back in 1881
and was one of its most ardent sup
porters. His history of the exchange is
considered the most complete record
of the membership, the securities listed
and the methods of trading in the early
days ever prepared by any member
He was an active trader on the ex-
change in the good old days, when seats
sold for $4,000 each. At one time ne
did a great deal of writing about the
merits, or dement's, of Washington Sc
curities
Genial. enthusiastic, a close student
of finance, Mr.. Paris had host OF
friends. He was one of Georgetown's
most loyal residents and his passing
will be felt far outside the financial
district.
Bonds Lead Local Exchange.
In the final session of the week on
the washington Stock Exchange the
most interest was manifested in bones.
washington Gas SIS, series A, opened
with 81 900 sale at 103, followed by SIX
smaller sales at the same figure. WASH
ington Railway Electric As came out
on the board at SO u and Barber ROSS
6l5s registered 81 900 sale SO.
In the stock division Capital Traction
sold ex-dividend at 603s, this being the
first transaction since the August report
was out showing gain in earnings I'M
der the new street car fare schedule.
Potomac Electric Power 5l2 per cent
preferred moved at 1081s, is shares OF
Columbia National Bank stock at 4l9
and 10 shares of Merchants Transfer
storage common changed hands at 1903.
President George O. Watson appointed
Eugene e. Thompson and Thomas W.
Brahany of Crane, Paris Co. william
q. Hibbs, dean of Washington brokers;
Carroll Glover, a former president OF the
exchange, and Edward N. Hillyer, vice
president of the exchange ana the
Union Trust Co. TO represent the or
canization at the funeral of the late
Albion X. Paris.
Cleaned in Financial District.
George z. Fleming, vice president of
the Union Trust Co, is motoring
through New England on his vacation.
he Is now III VIC hASAAlASJ "a VI NANA4N.'
Me
George L. Starkey, president OF the
National Bank of Washington, is COM
pleting a motor trip through the noun
tains OF New Hampshire and New York.
He viii be back at the bank Monday.
Otis Clazebrook, a partner In the
brokerage firm Of C. NJ. P. Murphy q
Co, has been elected a director OF the
American Hide & Leather Co.
The New York Title g. Mortgage Co,
which recently opened a washington
office has declared the regular quar-
terly dividend of so cents per share
payable September 30 to stock OF rec
ord September 49,
The Baltimore & Ohio Railroad has
declared regular quarterly dividends OF
SITS on common and 81 on the pre-
ferred stock, both payable December l
to shareholders of record December /.
John W. Poole, controller of the cur
rency announces the voluntary liqui-
dalton Of the Droyers & Mechanics
National Bank of Baltimore. The bank
has capital of 81 900 900.
November l is the date set for max
ing the merger of the Federal American
and Merchants Bank 81 Trust Co.,
effective. This is 10 days after the
stockholders Of both banks pass on 1t.
NM TDAnIMH ECCEMC