Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-22
MARYLAND LEADS
/ IN NEW INSURANCE
District Stands Second in
! Amount of Business for
June.
EY EDWARD c. STONE.

NdINldUu OlSJA Nv Va SOAbiAA
bia shared honors in the amount of
new insurance written during June,
Maryland leading every one Of the 40
States in new business, compared with
a year ago, and Washington coming
second in the list.
According to reports from Hartford,
Conn. today, Maryland made gain OF
per cent over last year, and Washing
ton scored 4 per cent increase. The
average for the country, as whole, re-
yealed loss of IL per cent.
Maine came just after the District OF
Columbia in the list, Rhode Island was
fourth and Georgia fifth with a gain of
per cent over June, 1880. MaSSa-
chusetts and New YORK made gains OF
per cent for the month; New Hamp-
shire and Vermont did Just the same
amount of business they did year ago,
and all the other States reported de-
cline in new insurance written during
the month.
North Carolina was off per cent,
Florida per cent. South Carolina 10
per cent and Virginia Ii per cent. west
Virginia was down 80 per cent from
wear ago--.his situation being partially
due to the distressing conditions exist
ing in the rlining districts. Business
was the worst in North Dakota OF any
State in the Union. being 43 per cent
under what it was in June, 1881
June insurance sales in washington
amounted to $6.189,00o, and in Mary
land amounted to Sll ,546,OOO.
Half Years Business Reviewed.
Reviewing the first half of 1881, lie
insurance as almost every otper IN
dustry. shows a loss in sales when COM
pared to year ago. This comparison,
however, is somewhat different tnan ior
other industries At the close OF the
g eiy he q
most commodities showed STEADY
downward trend. Life insurance, on the
other hand, gained 3 per cent In the
first half of 1880.
The economic depression, which was
quickly felt in most industries, was not
reflected in life insurance sales untll
May, 1880. When the volume OF ne
insurance sold in the first half OF 1881
Is compared to 1880 the comparison Is
being made to inflated sales, While IN
other industries a year ago the depres-
sion was already strongly felt.
Sales showed a steady increase 1or
the first six months in the past ~
wears with the peak reached IN 1881.
In the first six months of 1880 the vol
une purchased was over $2,50O. OO0,O Oo
more than in the same period IN 1871.
Although the incomes of all classes
have been greatly reduced, the volume
of insurance purchased by the people OF
the United States in the flrst SIX
months of 1881 is greater than the
average sales during the same period
Of the last 10 years.
In the first six months OF 1881 the
volume of insurance paid for in the
United States was half again as large
as in the same period OF 1921. Also
the volume paid for in the past six
months was considerably greater than
the total sales for the year 1918.
A study of the United States for the
first half of 1881 indicates that the
portion of the country now showing the
largest percentage loss in life insurance
is the West. The Eastern States show
the greatest improvement The New
England States show the greatest I'M
provement when compared to June 1880.
The three Middle Atlantic States,
which pay for over a third of the total
new business sold in the country, came
next with loss of only 3 per cent for
the section as a whole. while the State
of New York showed l per cent in
cree5e. The East and West South
Central States show losses of % per cent
and 10 per cent respectively. Arkansas,
with a gain of l per cent. was the only
State in the West South Central to
show gain.
Capital Traction Still at AZ.
Capital Traction sold at 43 on the
Washington Stock Exchange again to-
day maintaining its advance to that
figure yesterday. There was turn
over of nearly 100 shares, all small lot
transactions. Trading was moderate in
other stocks and there was a pretty
good demand for bonds, which changed
hands around recent levels.
Federal Reserve Banks Net.
Net profits of Federal Reserve system,
member banks decreased, in amount
by As per cent from 1929 to 1880, &C
Cording to figures that have recently
become available. and the rate of re-
turn on the banks invested capital de-
creased from 875 per cent in 1929 to
ass per cent in 1880.
The net profits per S100 of the banks
aggregate loans and investments de-
creased for the year by SO cents-frOm
$l.56 in 1929 to 81 cents in 1890
rejecting chiefly a decrease of 81 cents
in gross earnings that was largely the
result of a lower level of interest rates
in 1880. Other factors were a sub
Stantial increase in net losses on loans
and investments.
Expenses we're reduced for the year
by 18 cents per 500 of earning assets.
Heard in Financial District.
G. Bowie Chapman, resident partner
Sn Hartman s. Co.. was at his office
today after business trip to New York.
Frederick G.. Cox. cashier of the Com
mercial National Bank has nearly COM
pleted his vacation most of which ne is
spending in and near Washington.
Hilleary G. Hoskinson, vice president
OF the Riggs National Bank, is another
member of the banks big staff now en-
his vacation.
Waggaman, Brawner & Co. are dis
tributing an analysis of the Public Ma
tional Bank & Trust Co.. New York.
showing its steady growth and long
dividend record and bringing other in
teresting facts about the, institution.
The bank has never participated in