Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-22
NEW LIFE POLICIES
IND. c. SHOW DROP
OF EIGHT PER CENT
January National Figures Also
Reveal Decline From Same
Month in 1880.
RECEPTION COMMITTEE
FOR BANQUET is NAMED
Past Presidents of Institute Will
Serve as Aides at Annual
Affair.
BY EDWARD c. STONE.

In January in Washington showed a
decline of 8 per cent compared with
January, 1880, according to reports re-
ceived from Hartford, Conn, yesterday.
Sales for the country as a whole were
of II per cent and Wyoming was the
only one of the 48 States to reveal a
gain, 16 per cent.
Aside from Wyoming, Massachusetts,,
Nebraska and California were the only
States making better showing than
the District of Columbia. Maryland lost
10 per cent in new insurance; Virginia,
IL per cent; North Carolina, 16; South
Carolina, l8; Florida, l9; Georgia, 81,
and West Virginia, 80 per cent. Missis-
sippi came at the foot of the list with
1880.
1t will be noted that Maryland and
Virginia were also above the II per
cent slump for the United States.
Maryland, Connecticut and Vermont
mad the exact same loss. Insurance
leaders report that production is usual
ly some months behind broad move
upward in price indices in general busi-
ness. They are most anxious to see an
upturn in New York, New Jersey and
Pennsylvania, since these three States
pay for over one-third of the total in
surance volume of the country.
H.,
York IA and Pennsylvania 81 in Jan
uary. The slump in new Insurance in
the whole country is laid to the indus
trial depression mainly, but also to the
drought so long prevalent in large sec
t1ons OF the United States.
Institute Committee Appointed.
Sixteen past presidents of Washing
ton Chapter, American Institute of
Banking, are included in the reception
committee nam-d by President Frank
M. Perley to serve at the twenty-seventh
annual banquet to be held next Satur-
day night at the Willard. The past
presid; nts include T. Hunton Leith,
chairman; Charles D. Boyer. Harold w.
Burnside. R.. Jesse CLANCY, Victor B.
Deyber, Charles H. Doing. jr.; James c.
Dulin, jr.; Joshua Evans, jr.; w. F. D.
Heron E. j. McQuade, John Poole.
James A. Soper, w. w. Spaid, Wilmer
]. Waller, George w. White and E. P.
Wilson.
The other members of the committee
are Francis G. Addison, jr.: Wade H.
Cooper, Robert v. Fleming, John B.
Larner. Lanier P. McLachlen, Howard
Moran, G. H. Pope, Laurence A. Slaugh-
ter, Corcoran Thorn and George o. Vass.
Trading on d. c. Exchange.
Trading was quiet on the Washington
Stock Exchange yesterday before the
two-day closing
was largely entered during the week
ended the session at 3614. a gain of
nearly 2 points over the low point for
the week and for all time Only two
tiny sales were register d. The market
closed with 1914 bid for the stock and
36l4 asked
Bond trading was confined to George
town and Washington Gas issues. The
unlisted department securiti were
called of, hardly any quotation changes
being noted The days sales:
Georgetown Gas $500 at 1O35s.
Washington Gas IS "A'-SI 900 at lO1 q.
Washington Gas IS "B"-S5OO at lO43A.
81 900 at los. 81 900 at 1O47a.
Capital Traction Col at 36l4, S
at 1914.
Mergenthaler Linotype-5 at 3d..
District National Securities, prefer
redo at 90, 10 at SO.
As Lansburgh Sees Business.
In speaking of business in Washing
ton during the past year, Mark Lans-
burgh. president of the Merchants g.
Manufacturers Association. says:
Washington has occupied a unique
position among the cities of the country
in that IL has not been seriously af-
fected by the countrywide depression.
In fact the Federal Reserve report OF
department store trade for the wear
1880 indicates that the total sales were
but 2 per cent of as compared to from
Is TO 20 per cent in many Of the other
leadings cities, and an average for the
entire country Of 7 per cent below the
previous year When. however allow
ance is made for the decline in the
level Of prices, which has avera ged
more than Is per cent over the previous
year, it is quite apparent that the
volume Of sales really increased and
that the number Of units sold showed
an actual increase Of over 10 per cent
for the year.
Washington is indeed fortunate in
having such a stabilized buying power
as it possesses in the Government en-
ployes. This buying power actually in.
creased during the past year almost
$4,000 900. because Of an increase il
personnel from SO 9O4 TO 68,510 Can in.
crease Of over Z per cent?. and ar
average increase in salary of these en-
ployeS from So DAB TO S2018 which re-
suited in a grand total Of Government
employees salaries Of Sl32,2527l9. a
increase in buying power Of this groul
Of 1924 929."
Trust Coordination Urged.
One OF the best addresses made a. Oh
recent trust conference in New York
attended by local bankers, was gwen b.
NJ F. Smith of the Birmingham Trus
e. Savings Co. on Coordination o
Trust Company Activities" Mr. Smitl
said that coordination is a subject o
no little importance in the successful
operation of a trust department. AS tn
department grows and work is sub
divided it becomes essential that tn
respective activities of each of tn
component divisions be performed wit
a definite relation TO the other activitie
of the department. Without this, eff
ficient administration Of trusts Is i'm
possible. He said the task Of co-ordina
ton is by no means an easy one an
probably gives the trust executive a
much trouble as any single phase {
trust department management.
T. f. Young. Commerce Trust &C
Kansas City, in discussing Trust Al
diting," specified as the three majt
principles of audit control a rigid syi
tenn, co-ordinated responsibility ar
actual check and verification when net
eSSary.
Heard In Financial District.
Reservation requests are coming
steadily for the Central States Bar
MANAGEMENT conference, to be he