Evening star., 1932-02-09

The fact that
Washington gained the :Sophy in COM
petition with great many other
agencies 4. 2s.d by the company Off
cials to indicate that business in the
Nations capital is far better than in
most other parts of the country. They
think it should offset good deal of the
depression talk, because of the amount
of new business written and because
life insurance is sold to people in so
many different lines of business.
1t is announced that in the Wash
policy sold exceeded $4,000 per policy,
proof that many people are finding
money enough to meet large life insur-
ance premiums.
Practically all the big insurance COM
panies are reporting more interest in
insurance, both for protection and in
vestment, the monty reports from
Hartford. covering all the leading COM
panies, showing Washington in the front
rank.
Steffe to Entertain Bankers.
Edwin C. Steffe, who made such hit
at the District of Columbia Bankers
convention at Hot Springs last June,
will apepar on the program of Wash
ington Chapter, American Institute of
Banking, at the annual banquet next
Saturday night at the willard He is
graduate OF the institute and has al
ready appeared to splendid advantage
at these annual events. He is BARI
tone soloiSt at the National Cathedral
and a student of Myron Whitney. It
will be recalled that he was the District
OF Columbia winner of the AtWater
Kent Foundation addition in 1881 and
has often appeared as a radio Soloist
In spite of his brilliant musical talent,
the young man sticks to banking, hav-
ing been with the Federal American
about seven years.
c. & p. Directors Reelected.
The annual meeting of the Chesa-
peake & Potomac Telephone Co. was
held in New York yesterday. The fol-
lowing directors were reelected: Will
liam w. Everett. Robert v Fleming,
Edwin c. Graham, Gilbert Grosvenor,
john Poole, Merle Thorpe, Lloyd B.
Wilson Marshal D. Sedan, Philip o.
Coffin, Washington. and Walter S. Gif-
ford and Eugene S. Wilson, New York
Because OF reduced volume of work,
the long lines department OF the
American Telephone &, Telegraph Co.,
is placing all employees On part time
so that by March l these workers will
work in general the equivalent of five
days a week.
For some time past operators and
construction crews have been working
part time, and the extension Of this
practice to others is to divide the work
available and avoid lay oils. This plan
also assures an experienced force ade-
qudte 10 meet an increase in work re-
qulrementS as business picks UP. and is
in line with the action ALREADY taken
IN other parts Of the Bell system, where
the work available was not sufficient to
provide full employment for the regular
force.
This affects in all about $4,000 work
ers. considerable number of whom
mad already been put on a fve-day
basis.
d. c. Exchange More Active.
Trading on the Washington Stock
Exchange was more active today than
1t has been for some time
The market opened with $500 Wash
1ngton Gas IS, series A, changing hands
at 1905 Later a small bond of the
same denomination sold at 1OO14.
Lanston Monotype was the most
active stock on the board today. The
trading was all in 10-share lots. the
stock opening at 64 dropping as low
as 81 and closing at g.
Mergenthaler Linotype opened at
81 and closed higher at SO, on a To-
snare turnover.
Capital Traction was strong. a small
lot selling at 60
Edward L. Hillyer. president of the
Exchange, has returned from a business
trip to the West Coast.
Financial District Jottings.
The majority Of local bankers feel
sure that the Reconstruction Finance
Corporation will prove of much benefit
to the country as a whole The money
VIII prevent many defaults in railroad
bonds, stop host Of unnecessary bank
failures, release funds for trade uses
which are now tied up in frozen assets
and help out the present business situa-
ton in many other ways.
Theodore M. Knappen, Washington
correspondent Of the Magazine of Wall
Street, will attend luncheon of cap
ltalists at Philadelphia, Thursday L.
D. Edie will be the chief speaker.
Columbia Pictures Corporation has
declared the regular quarterly dividend
of rs cents on the preferred stock, pay
able March 2 to stock of record Feb
ruary 10.
Metro-GoldWyn Pictures Corporation
declared the regular quarterly dividend
OF Ala cents on the preferred stock
payable March Is to stock of record