Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-10

y e T 1879 - 1881 rs
they saved $44,-
70902. The same
statistics show that "a
students in the t. Hunton Leith.
Maryland schools
saved $S1 ,054.83 last year and Virginia
pupils saved $40, 751.87. This was a
marked falling off in Virginia, as well
over $137 900 had been laid aside in
the previous year.
West Virginia schools made net saw
ings in the school year of 1929-1930 of
$22,581.17, against $28, 72O.6o in the
previous year. North Carolina stu
dents saved over $4,000 last year
The summary for the country as a
whole reveals net savings last year
amounting to $7790,52 So, while in the
previous year the total was over SILL
100000
Doubles Income During Year.
The Union Cooperative Insurance
Association of Washington, 1900 Fiji
tenth street northwest, reports a pre-
MUM income on its life insurance buSi-
ness for the year 1880 of 81 ,434, 900,
compared with premium income for
1929 of $714,000.
During the year this company in
creased its capital stock from 100000
to total of 5000, 900 and increased its
Charles P. Ford is president, G.. NJ
Bugniazet, secretary treasurer; DR.. j.
Rozier Biggs, medical director; E. r.
Crowson, actuary; G. F. Nesbit, insur-
ance counselor; G. L. Noyes, assistant
manager, and Ivan N. Fuqua, super
tntendent of agencies.
Pennsy Opens Pier Development.
Local holders of Pennsylvania Rail-
r1lr 49,.
report that the company has opened
two of four proposed piers in Jersey
City which can accommodate ocean
going vessels drawing up to 35 feet. The
piers, sos to 913 feet in length and
approximately ITO feet wide, are
equipped with devices for the loading
and unloading Of freight from freight
car to ship. They will be operated in
conjunction with an elaborate system
Of warehouse and cold storage facilities
The total cost of the development
will amount to around $1,000, 900. The
company figures that the new piers will
expedite its shipments to such an extent
that its traffic will be increased and
that this should more than pay for its
huge part of the outlay. The big
saving is expected to be in the fact
that no lghterage viii be necessary on
delivering shipments from these piers
to ocean-going vessels.
Insurance Day Plans.
The observance of National Thrift
week this year, says President John H.
Snyder of the District Life Underwrit-
ers' Association, will call the attention
of the Nation to life insurance on We'd
nesday, January 81, designed as Life
Insurance day. Many activities will
feature life insurance as promoting
thrift, including radio talks, thousands
of newspaper articles, magazine write
ups and speeches before business or
CARNATIONS. The real benefits may be
obtained by the individual life insurance
men cooperating on this day in en-
phasizing life insurance as thrift
agency. BY such cooperation it has
been calculated that the value and
varied uses of life insurance will be
brought before one million persons.
Stephenson on Bankers Code.
President Rome C. Stephenson Of the
American Bankers Association, says:
Present laws adequately enforced
contain ample provision for Govern
ment supervision. Bankers universally
believe IN strong, capable banking de-
partmentS manned by officials with the
discretion and courage to enforce these
laws and act under them as the COM
mon welfare demands. They believe
that these public officials should be
paid sufficient salaries to command the
services of men of character, ability and
a resolute spirit Of public service. They
believe also that the banking depart
ments should be kept free from all
political or other improper influence in
order TO be able to act at all times with
slngle-minded independence solely for
the oeneht OF the public interest"
Heard in Financial District
T. Hunton Leith, member of the
national executive council of the Ameri-
can Institute of Banking leaves here
Monday TO attend the Midwinter meet
ing Of the council at Shreveport, La
Mr.. Leith, who is assistant cashier of
the Security Savings g. Commercial
Bank, has visited large number of
Institute chapters recently, and will
have most interesting report to pre-
sent on the progress being made in the
territory % which he has charge
The Federal Reserve Board announces
that the Atlanta Bank has reduced the
rediscount rate from 3l2 to per cent,
effective today. The Chicago Federal
Reserve Bank has taken the same
action. Atlanta now has the same rate
at St. Louis and Cleveland, adjoining
districts.
Word has been received that I. A.
Fleming, financial writer. is now COM
fortably located at Hotel Indialantic,
Melbourne. Fla. He left here about 10
days ago to pass several weeks in a
little more congenial Winter atmos-
phere.
Eugene Meyer, jr., governor of the
Federal Reserve System, has been in
Chicago where he attended meeting
OF the directors of the Chicago Federal
Reserve Board.
The annual meetings of the national
and several other local banks take place
next Tuesday.