Evening star., 1931-05-04

.
Penn Mutual Life Insurance Co.; Ralph
G. Englesman, general agent Of the
Penn Mutual Life Insurance Co.; Roger
B. Hull of the National Life Under
writers Association, A. r. Jaqua. aSSo-
ciate editor Diamond Life Bulletin, and
Valiant w. Kenney, general agent OF
the Connecticut Mutual Life Insurance
Co. Of Boston. President Joshua Evans,
jr., of the District National Bank is
scheduled to make an address at one
Of the sessions.
The conference opens at 10 o'clock
and viii bring together between 400 and
500 life underwriters of the District of
Columbia and Maryland A number of
fiduciary officers of Washington and
Baltimore banks will attend and the
fiduciary section Of the District of CO.
lumbia Bankers Association is cooper
atins in arrangements for the congress.
President Snyder Of the local aSsocia-
ton VIII preside at the morning ses-
sion and President George A. Myers Of
the Baltimore association will preside
in the afternoon.
CortelyOu Heads Trust Group.
Announcement Is made by Knapp &
Co. Inc, investment security house,
with headquarters in Washington, that
George B. Cortelyou, jr., was elected
president Of Distributors Group, Inc,
sponsor of North American Trust
Shares, at the quarterly meeting of the
board Of directors. He succeeds w. w.
Watson, jr, a member Of the firm of
West & Co.. recently suspended from
the New York Stock Exchange.
Mr.. Cortelyou Is the eldest son of
George B. Cortelyou, president Of the
Consolidated Gas Co. Of New. York and
Secretary OF the Treasury, under Presi-
dent Roosevelt. Before his election he
served as vice president OF Distributors
Group.
Election is announced to the board
of directors Of Distributors Group, Inc,
OF ]. Henry Knapp, jr, head OF this
flrm, whose washington ofI1ce now is
headquarters for a number of branches
in other cities. Other new members
added TO the board were Allen Hubbard,
partner OF the law firm of Hughes,
Schurman Sz Dwight, and Thomas Nc
Gowan. president Of MCGOWAN, Cassidy
& White, investment bankers OF
Chicago.
Sales Of North American Trust Shares
for the FIRST quarter Of 1891 showed a
substantial increase In dollar sales
volume over the last quarter of 1880,
and 80 per cent increase over the
first quarter Of 1880, reports presented
at the meeting revealed.
Barker Institute Leader.
willard c. Barker, vice president Of
the Morris Plan Bank, Is just finishing
a most successful years work as chair
man of the Entertainment Committee
of Washington Chapter, American In
stitute of Banking He is in charge of
the annual Spring party, which will
be held at the Columbia Country Club
next Friday evening. which viii be
attended by between 800 and 400 en-
fhfcfaetiH hankifO cfttAanfc
The final exc limitations for the year
are taxing place tonight, tomorrow and
wednesday evenings. The election Of
ofncers for next year will take place on
May IA and the big national convention
Is booked for June in Pittsburgh.
TOday's Trading on Exchange.
Capital Traction retained It's strength
Of the past few days and sold above
"a again today when the weeks trading
opened on the Washington Stock Elk
change.
Three bank stocks appeared on the
board-Liberty National selling at 1SO,
Riggs National at 405 and National
Metropolitan at 230.
Washington Railway g. Electric pre-
ferred came out at 98l4, Federal -Ameri-
can Co. common sold at Fl and Potomac
Electric Power 6 per cent preferred at
ll3. Norfolk e. Washington Steamboat
10. moved at lSJ ana 9OO SDoIco VI VA
tional Mortgage & Investment preferred
sold at AS. Bonds were quiet.
Cleaned In Financial District.
Leonard Marbury Of the Washington
Loan q Trust Co, who Is secretary OF
the fduciaYies section Of the District
Bankers Association, is getting a very
generous number Of reservation requests
for the dinner meeting set for tomor-
row evening at the willard. 1t Is ex-
pected TO be one of the best section
meetings Of the year.
w. w. Sp2id has notified the District
Bankers Association Sports Committee
that a new w. b. HibbsO Golf Cup will
be supplied for the coming convention
at Hot Springs. The old cup, which
caused so many interesting contests, was
won three times by Clyde 3. Asher and
Is now his personal property.
Strickland Gillian, who made such q
hit at the Columbia Country Club din
ner, showed unusual knawledge OF the
banking business. Perhaps that Is be-
cause he has a son employed In the
National Metropolitan Bank.
Mr.. Gillian gave an unfailing rule
for successful forecasting. He Ssid al
ways predict the inevitable but be sure
not TO give any dates In the forecast.
Such information, coming from for
mer president of the International over
draft Association" ought 70 carry con-
"a l~Wa 1zIA fSvlaN