Evening star., 1932-09-20
DECREASE IN LIFE
POLICY SALE NOTED
New Insurance in D. c. for
August Shows Drop Of
19 Per Cent.
BY EDWARD C. STONE.


lngton in August was 19 per cent lower
than the total reported in August,
1881, and per cent lower than the
average new business for the whole
United States, according to the monthly
report received here today from Hart
ford.
Maryland made the best showing of
any State in this territory, sales being
off II per cent, compared with the cor
responding month a year ago. The
average for the country was down II
per cent Rhode Island was the only
State in the Union to reveal gain
! per cent. Delaware, which comes in
the South Atlantic group, was off but
per cent.
west Virginia reported loss in new
business OF "a per cent compared with
August, 1881; Georgia, 26 per cent;
Florida, % per cent; South Carolina.
80; North Carolina, "a, and Virginia,
36. The Old Dominion was near the
bottom Of the list, Arizona standing at
the foot with a 51-per cent drop.
Sales for the eight months of 1882
were 19 per cent below the same period
last year. The somewhat smaller de-
crease for the month indicates an up
ward trend Figures for July showed
ID
this continued through August. The
improvement during the month was
evidenced particularly in the Northeast
and Central sections of the country.
During August Washington agents
wrote $3,475,000 in new insurance;
Maryland, S7154,000; Virginia, S4 ,304,-
900, and West Virginia, s3,5o2,o0o.
Trade Reports Show Progress.
nc ho
Reserve districts note better retail and
Richmond bank state that conditions
are now better than in some time, al
though trade conditions are very un-
even in the districts, five States. The
slow recovery in building is still dis
appointing feature
The Atlanta area reports improve
ment in employment conditions and in
trade. Philadelphia notes a general
move to higher levels and New England
business continues to be more active.
Chicago reports particularly good ad-
vances in wholesale trade. In Cleveland
conditions have changed but little in
the past few days.
The st. Louis Reserve Bank reports a
pickup in railroad traffic, Kansas City
is encouraged over Fall trade and Dali
las, Tex, expects some upturn soon in
the price of cotton which took such a
tumble after the last Government re-
port. Retail sales in Texas have re-
Gently gained 10 per cent.
IN the Minneapolis district farmers
cash income in August was only per
cent smaller than year ago, in spite
OF delayed marketing Of crops. This
was the smallest decrease in SO months.
Income from wheat and rye was twice
as large as last year, but was Offset by
losses in dairy products, hogs, flax and
potatoes. The flour trade increased on
the break in wheat prices and ship
ments were moderately better.
Wells to Address Underwriters.
Fred L. Wells, Aetna general agent in
Baltimore, will address the District of
Columbia Life Underwriters Association
Thursday noon at Hotel Washington.
when the local organization will open
its years wcrk with flying start. Mr..
Wells was formerly general agent in
Syracuse and was for some time super
1ntendent of agencies for the whole
company. He has been SO successful as
a personal producer that local insur-
ance men are anxious to hear him
speak here.
The local associations president this
year is John P. Lynch, who succeeded
David S. Bethune. The other officers
are John L. McElfresh and Horace Win
ter, vice presidents: George T Black,
secretary, and George B. Farquhar
treasurer Directors include David S.
,Bethune, Paul D, Sleeper, Thomas P.
Morgan, jr.; A. G. Grinnell, Daniel j.
Harrison and Carl S. Dow
For this years activities President
Lynch appointed the following commit
tee chairmen: Bulletin, Howard j. Jack
son; Program, Philip L. Baldwin: Edu-
cational, H. Lawrence Choate; Fled
Practice, Earl D. Krewson; Managers
Section, J. L. McElfresh; Membership,
J: E. McCombs: Civic Agencies, H.
Cochran Fisher; Bank and Trust Com
pany Cooperation, Joseph A. Marr, and
Legislative, David S. Bethune
At the opening meeting Mr.. Bethune
will give talk on the convention in
San Francisco. He is National Com
mitteeman this year. 1t is an
nounced that the Washington Baltimore
sales conference will be held in jan
uary this year instead of May, with
the Washington association entertain.
ing.
Increase in Brokers' Offices.
The expansion of trading ON the
Stock Exchange in August caused the
first increase in the number of branch
offices maintained by brokers in more
than a year, according to the monthly
bulletin of the exchange.
On September l there were 1,160
branch Offices of Stock Exchange firms,
an increase Of 18 from the number on
August 1. This increase was contrary
to the usual seasonal trend since bro
kerS begin to close offices at the Sum-
mer resorts at the end of August
The last increase in the number of
branch Offices occurred in July, 1881.
In that month the number increased
frcm l,460 to 1,483. On January /,
1890, the number of branch Offices was
1853, tie high record.
There are now IA New York Stock
Exchange Offices in Washington, all of
which have recently enjoyed very
substantial increase in business. Some
Of the recent openings have reSembled
the good old 1929 days." when even
Standing room was at premium.
Today's d. C. Exchange Trading.
Trading on the Washington Stock
Exchange today was confined to Wash
ington Gas Light IS, Series A. Three
1000, two $4,000 sales and one $4,000
transfer were recorded at 991a. These
Gas bonds mature in 1888 and good
many local investors have been making
switches recently into longer term Sc
curities
Directors of Woodward & Lothrop
have declared the regular quarterly
dividend due at this time. The quar-
terly dividend on the common stock is
80 cents per share and on the pre-
ferred S175 share. Both are payable
September 80 to shareholders of record
September 23 Both issues are listed
on the local exchange.
American Telephone & Telegraph
stock opened ex-dividend today. Checks
for the regular s2.25 per share will
soon be mailed to stockholders.
Arundel Corporation of Baltimore has
declared the regular quarterly dividend
of rs cents. payable October | to stock
OF record September %
The first Is days of September showed
an Improvement in retail business, ac-