Evening star., 1932-11-18

[.
For the country E m
as a whole sales Il
averaged 20 per
cent lower than in
the same month - ss issszs&
of last year. In John A. Reilly.
the Capital insur-
ance sales were 35 per cent under the
record made in the corresponding
month of last year. Three States, Ari-
nona, wyoming and North Dakota, were
farther down the list than the District,
North Dakota standing at the bottom
with a decrease of 81 per cent.
Maryland made the best showing in
nearby territory, with decrease of only
IL per cent. North Carolina sales were
off II per cent; Georgia, 18 per cent;
South Carolina, 10 per cent, and Vir-
ginia, 10 per cent. West Virginia sales
were down "a per cent.
The amount of insurance written,
however, was large. Maryland agents
wrote $7,oS9 900, washington totaled
$S,S2s, 900; Virginia, s5,o21 900; West
S5, ,727, 900; South Carolina, $2,356,-
300; Georgia, $5,5540Oo, and Florida,
S2,959, 600.
Although sales were below the cor
responding month a year ago, the re-
port points out that the volume Of in
surance being sold is an indication OF
the importance being placed on life in
surance protection. With unemployment
and decreased incomes experienced by
all classes, October sales of new in
surance over the country averaged more
than S20,000,000 during every working
day.
ID. c. Bank CIearings Hold Up.
: Bank clearings at AT leading cities Of
the United States for the week ending
November 16, totaled $4,282, ,934, 900.
This is 1872 per cent higher than the
preceding week, but 31.5 per cent less
than a year previous. Excluding New
York City, a less favorable showing is
made. The gain for the week was only
l4.1 per cent and the decrease from a
year ago was $50 per cent
Bank clearings in Washington totaled
Sic, ,625, 900, against $16,876,000 In the
previous week and 90 per cent below
last year. Baltimore reported a sharp
gain, $50, ,291 900, against $43, TAB 600 In
the previous week and % per cent under
last year. Richmond also had a good
increase, clearings reaching $29, 600,
.compared with S25, ATS, 900 last week,
but 81 per cent behind last year.
: AS the Christmas holiday season ap-
nroaches. these figures are expected to
show marked gains. The coming dis
tribution Of Christmas savings funds In
Washington will be factor OF vital
Importance in boosting Yuletide trade
here.
Reilly Addresses Accountants.
;. John A. Reilly, a vice president OF
the Federal-National Bank 6E Trust Co,
addressed the District of Columbia In
stitute of Certified Public Accountants
at the Ambassador last night. Presl-
dent Oscar Berstein was in the chair.
REPORTS were submitted by Chairman |
william G. Buchanan of the Education
al Standards Committee and Chairman |
Boris BaievSzy of the Committee on
Cooperation With Investors.
:. In reviewing the relation OF bank
credit to the balance sheet as prepared
.by certified public accountants, Mr.. |
Reilly suggested that greater attention |
should be given to the building up OF a |
sound credit system by the use OF the |
best available tools. adding that the
balance sheet could render very use |
ful service in developing profitable busi- |
ness opportunities in the future.
"a more thorough understanding Of
credit will contribute as much to human |
welfare and happiness as any other |
single factor" he declared.
He indicated that, while it would be |
difficult to determine accurately the |
annual credit loss in America, the best |
authorities on the subject have esti-
mated this sum to be approximately
81 ,000, 900, 900, and continued:
"If a substantial part of this could
be saved by the application Of sound
credit principles and policies, many OF
our present difficulties would be solved"
Parker Joins Barney STAFF.
Myron M. Parker, jr., who has been
connected with the local financial dis
trict for nearly 20 years has severed
to Join the staff in the Washington
Office Of Charles D. Barney & Co., &C.
cording to announcement today by
Frank P. Morse. He will assume his
new duties Monday when that New
York Stock Exchange firm opens its
new Offices on the ground floor Of the
Woodward Building.
Mr.. Parker is a son of the late Col.
Myron M. Parker, former Commissioner
of the District of Columbia. Following
preliminary course at Hill School and
his graduation from Princeton Uni
versity, he was associated with his
Ac%SAASA AAA IAAC 4CcA 4AOuoC VA IVA. GSAs
Parker & Son. After Col. Parker's death,
he headed his own firm until his
entrance in the brokerage business.
He is a member of the Metropolitan,
Chevy Chase and other Washington
and out-of-town clubs.
Cleaned in Financial District.
Directors Of the Lanston Monotype
Machine Co. have declared the regular
quarterly dividend of $3.50 a share, pay
able December 81 to stockholders Of
record December IS.
Today's session of the Washington
Stock Exchange was the most active OF
the week. The largest sale in the bond
division was 81 900 transfer in Potomac
Electric Power IS at 108. Washington
Gas issues and Chesapeake & Potomac
Telephone of Virginia IS also appeared
on the board.
In the stock division sales were made
in Washington Railway & Electric pre-
ferred and in Potomac Electric Power
6 and 512 per cent preferred issues.
Prices were steady.
Following recent dividend declara-
lions, Potomac Power issues, both Wash
ington Railway & Electric stocks and
Lanston Monotype are now being quoted
ex-dividend on the local Exchange.
-e-
INVESTMENT TRIISTc