Evening star., 1932-06-09

tuesday afternoon ~
at W Which Gov. 4l
George j. Sfay of IS ,f#4l
the Richmond Re .s# y
serve Bank presid- s# IL ~
ed, the iirSt steps % z &
were taken to per- &# #H&Ss
feet an organization lzsSz-lzss szssas
in the fifth district HILLARY r. uoslinson
such has been
started in the New York Federal Re
serve district and in the Chicago dis
trict and will be launched at once in
all the other Federal Reserve districts.
Mr.. Hoskinson was appointed secre-
tary at that meeting. AT the same
time Robert V. Fleming was asked 10
represent the banking interests OF
Washington and Edwin c. Graham +he
business intertsG. Two members of
the commi.tse were also named -
represent each CT tie Stats in the
fifth reserve district, Maryland, Viz
sinia, West Virginia, North Carolina
and South Carolina.
The committee is to'be further eX-
panded and complete its organization
In short time.
Huebner Addresses Underwriters.
DR.. Solomon S. Huebner, dean of the
'Sity of Pennsylvania, in addressing the
District of Columbia Life Underwriters
Association at luncheon yesterday at
the Washington Hotel, declared that
never before had property values seemed
rs small or life values loomed as large
as at this time. Hedging of life values
he said, would guarantee the time neces-
sary to rebuild property values to nor
NAL levels. The speaker said the he
underwater could lead in the return
to prosperity If he IS properly equipped
to render professional service. Dr.
Huebner. Who is also dean of the Amer
lean College of Life Underwriters. out
lined the growth cf the college and the
work being Gcre 10 develop the life
underwriters of the country. He indi-
Gated how the college is fostering
program of general business education
to enable the life underwriters 70 Coun-
sci business and professional men on
insurance problems. Under changed
business conditions. he said the college
was playing leading part in educating
qualified life Insurance men % meet
the new needs and problems Of today.
He congratulated the life underwriters
OF Washington on the work they are
doing in the National Capital on rem
dering professional insurance service.
Regional Conference.
DR. Huebner, educational adviser Of
the Massachusetts Mutual Life Insurance
Co. held his annual regional educa-
tional conference today in the local CT
fee Of that company in the Evans
Building. In addition to the members
of the local agency, there were present
representatives from the Richmond.
Va, and Charleston, w. Va. Offices
He discussed steps That Count in
Selling and Maintaining Life instr
ance."
Forty Years Service.
William M. Hoffman. president Of
the Firemen's Insurance Co. of Wash
1Dgton and Georgetown, will complete
40 years service next Sunday. with the
company, having entered the employ
OF the organization of which he is now
the head on June y, 1892
During Mr.. Hoffman's career the
company has prcspe-ed, and has paid
substantial dividends to stockholders.
Business Defaults Fewer.
The smallest number of business de-
faultS, as reported to Bradstreet's, since
early December of last year, was reg
3stered during the week ending June ..
The number fell sharply from 596 to
489, decrease of 18 per cent, which
was accompanied by decline of 654
per cent in liabilities involved A drop
OF 1O.8 per cent is normally expected
at this time, due to the business week
being shortened by the holiday. but
the greater actual decrease brings
BradStreet's adjusted index Of weekly
failures 1928-3O 1000 down to 1922,
the lowest it has been since mtd-Jan-
the preceding week. 1879 two weeks
ago and 1149 for the same week CT
1881. The past weeks total of 489
compares with 425 failures for the same
week last year.
All trade groups shared in the de-
cline in number. except the banking
group which remained the same. Brad
streets finds. The decrease was largest
In the retail group, which dropped from
406 to 343. Liabilities involved fell off
IN all groups except the manufacturing.
the increase in this group being due to
the failure OF Sizeable. PENNSYLVANIA
publishing company and large south
ern cotton mill Liabilities declined
most heavily in the commercial service
ana banking groups
The South Atlantic and South Cen
tral were the only geographical divi-
.oAOiio W SllOA ulCIGdSPS III numDor OF
failures, while the Middle Atlantic and
Central showed the most marked de-
creases. AS to liabilities involved, how
ever, the districts were evenly divided.
the New England and Mountain Sec
tlonS gaming, as we'll as the South At
lantlc and South Central. The drop in
the Central region alone equalled the
decline in total liabilities. The increase
IN liabilities was greatest in the New
England section.
In the South Atlantic section failures
increased from 36 for the week ended
May .26 to IS for the week ended June
2, as compared to Al for the week of
May 10 a year ago.
committee of the board of directors
OF the District National Bank will at
tend the funeral tomorrow of William
P. Lipscomb, vice president of the bank,
at the residence in the Ontario Apart
mentS at 2:30. He had been a vice
president of the bank many years.