Evening star., 1932-10-13
BIGGEST Insurance.
HOLDERS REVEALED
Du Pont Heads List of 400
With Policies TotaIing
$7,0O0,000.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Local insurance men are much in
terested in list just published by the
Spectator Co., which contains more than
400 names of the largest life insurance
holders in the country. The list re-
veals that Pierre S. du Pont stands at
the top among millionaire life insurance
policy holders with total of $1,000, 600.
John C. Martin of Philadelphia ranks
second to Mr.. du Pont with total in
surance of S654O00O, while William Fox,
the theater man, comes third with insur-
ance totaling S6,5OO,O00. Herbert l..
Dillons name appears on the list with
more than $6,00O,000. Marshall Fled,
3d. appears first in the group of those
having insurance of more than S5,0O0,-
900. Walter P. Chrysler, president and
chairman of the board of Chrysler Mo-
tors, has life insurance policies totaling
about SIS 100000.
Percy A. Rockefeller has insurance to-
falling So ,000 000 while Floyd L. Car
dated Gas Co., has more than $4,000 900
of insurance. Belin du PCnt, another
member of the Du Pont family, has more
than 100000 of insurance. Two CT
the Fisher brothers, Charles Fisher and
William Fisher, the automobile manu-
facturers, each have insurance totaling
more than S2,000,000.
The stage and screen are we'll repre-
sented. John Barrymore has $4,000 900.
Buster Keaton is in the group of holders
of insurance totaling ST ,250, 900. Norma
Talmadge and Otis Skinner have an
equal amount. Gov. James Rolph, jr.,
of San Francisco, has insurance aggre-
eating 81 ,084 900. David A. Schultz, the
tobacco chain store executive, has more
than $l,000000
Fewer Leans Held Gvod Sign.
Fortunately demands upon the Re-
construction Finance Corporation are
diminishing, says the National City
Bank, with the subsistence of the panic
and of demands on the banks. The
advance in bonds has increased the as
sets of the banks, and the advance in
commodities has improved their loans.
The demand for policy leans from in
surance companies has also declined.
Repayments to the corporation are In
good volume, and the allotment of
Treasury funds to it, which in June
was 100000, in July S150,000 900,
ard in August S115,000,00G. was in Sep
tember up to the 23d, only $4,000 900.
Beyond doubt the greatest service
that government, both Federal and local,
can render in the present situation, the
National City Bank adds. is to enforce
economies that will balance their bud
gets and preserve their credit without
resort to further taxation, and will per-
nit tax relief at the earliest possible
date. In truth the burden of taxation
greater than was borne when the ma
tional income was around 80 billions Of
dollars annually, is more than doubled
when 1t must be paid out of an income
diminished by more than half.
Business Failures Again Decline.
Aided by the strong seasonal tend
denotes effective during the early part
of October, failures for the week ended
October declined to 438, as compared
with 467 in the preceding period, states
Brsdstreets Weekly. This compares
with 514 during the corresponding week
of last year and is the lowest total re-
ported since November S, 1881. The
decline, however, was not as much as
usually takes place at this time OF the
year.
There we're 328 retail establishments
which failed during the week ended
October 6. at against 3l2 in the pre-
ceding week. an increase of 81 per cent.
All of the other groups were consider
ably smaller, with banking and financial
registering IL, as compared with l9 last
week and Sc last year. The South
Atlantic and Central divisions were
responsible for all banking and financial
failures.
Although the total number of failures
was smaller this week, the liabilities
involved were 172 per cent larger than
in the previous week, Bradstreet's finds,
showing that larger concerns were in
volved. Wholesaling and jobbing fall
ures marked an exception both num-
ber and liabilities being much smaller.
Today's Trading on Exchange.
Business opened quietly on the Wash
ingtcn Stock Exchange following the
Columbus day closing.
The first trading was in Potomac
Electric Power per cent preferred.
which moved in 10-share lot at ITO
and a 5-share lot at 1922.
Potomac Electric Power 51a per cent
preferred also appeared on the board,
five shares selling at 105 and two more
at 10434
Bond sales opened with $500 Wash
ington Gas Light 5s changing hands at
100A., same as the last recent sale.
Two sales in Capital Traction IS ap-
peared on the board, $1,000 and $1,000
moving at 50l2.
Eiggs National, Union Trust and
American Telephone are being quoted
eX dividend.
The Washington Stock Exchange
seat, recently purchased by Kenneth
S. Wales, vas the seat held for many
years by Edward B. Mclean Of the
Washington Post.
Heard in Financial District.
Conditions in Europe continue to
Chow signs of improvement. As their
greatest difficulties began with the
troubles of the Credit Anstalt, in Vienna,
it is perhaps not too much to hope that
real improvement will date from. the
Stresa Conference which dealt authori-
tatively with Central European eco
nomic problems" says Norman E. Tow
son of the Washington Loan & Trust
Co., in his weekly foreign review.
Receivers of the Georgia & Florida
Railroad have been authorized by the
Interstate Commerce Commission TO
issue 100000 of receivers certificates
of series B in exchange for a like
amount of series A certificates.
Henry Herrick Bond. former Assistant
Secretary of the Treasury. told the
New England Conference on Taxation
a few days ago that the tax burden
can be reduced only by one method
reducing public expenditures.
The Arundel Corporation has been
awarded two contracts by the United
mately $1,000, 0,000-waterway dredging
in Florida and the other for the Craig
hill cutoff in Baltimore.
Since the close of the American
Bankers Association convention in Los
Angeles, Robert " Fleming, president
of the Riggs National Bank has been
touring the West Coast, visiting San
Francisco and other important places.
New York City banks report further
gains in deposits. The week ending
october showed an increase CT $45,-
100000, one institution alone gaining
S1O mn 0O0