Evening star., 1933-03-20
DROP IN INSURANCE
BUSINESS IS SHOWN
February Total for New Poll.
cjes Is 20 Per Cent Under
1882 Figures.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
New insurance written in the District
of Columbia in February was 23 per
cent lower than the total for February,
1882, according to the monthly report
received today from Hartford, Conn.
This was a much better showing than
the January figures revealed. The
average drop for the whole United
states was exactly the same as that
for WASHINGTON the report stated
Virginia made a slightly better record
than Washington, new business being
hut q per cent behind the same month
last wear. Among other States IN the
fifth Federal Reserve district new IN
surance in South Carolina was Gown
"a per cent, in Maryland, Is per cent;
in North Carolina, 80 per cent, and IN
west Virginia. 35 per cent.
Although there was genera oe.
crease in this territory and all over the
limited States, compared with the corle.
spending month year ago, tne t0Ial
new ordinary life insurance SOLD duang our '
the month averaged over $2O,Ooo,ooo IN
every working day.
The best record made by any State
was produced by Alabama which was
only S per cent below business done IN
FEBRUARY, 1882. Arizona and Idaho nao
the hardest shedding during the montn.
business in both these States Delng 70
per cent under the like period year
ago. c.,,,,,,,;.
agents wrote S3,8l6.000 new business.
MARYLAND reported new business total
ing Sc oe6, 900 Virginia turned in new
business amounting to. s5,253 900, Wnlle
West Virpinias total was s3,O78,0O0.
North Cardinals business totaled $4,-
1s7 nm and South Carolina sales
amounted to s2242 900. Delaware.
Georgia and Florida are lnciuoeo M the
South Atlantic group. This group aS
a whole wrote s34,888,000 during the
month.
Joins National Building League.
The Northwestern Savings d. Loan
Association. Takoma Park, has been
admitted to membership in the United
States Building and Loan League, &C
cording to Secretary H. F. Cellarlus
of Cincinnati Ohio. In qualifying for
membership the association supmltteo
financial statements, bylaws and otner
details.
The Northwestern Savings 81 Loan
Association becomes member OF ma
tional organization in this HELD tnat
has over $500 members. Its business
is administered in Chicago. Tne league
was organized 80 years ago to AID the
work of the local associations III tne
home financing field -,
The Northwestern Association will
be entitled to send delegate to the
leagues conventions. 1t will also partl-
cipate in the national programs for tax
relief home owning encouragement and
other work undertaken by the league.
According to E. V. Crittenden, presi-
dent of the association, the assets were
s1.856,964 at the time Of the last
annual report. Besides Mr.. Crittenden
the officers and directors OF the as
sociation are w. S. Dewhirst, vice
president; Howard S. Gott, secretary;
Alfred B. Baker, attorney, and Arthur
C. Keefer. Dr.. j. W. Chappen, DR.. G.
F.. Coulen, Frederick Lewton, r. E. L.
Jones, W. R. Tuckerman, DR.. w. w.
Stockberger, Jesse H. Powell, directors,
Treasury Regulation 10 Passes.
One of the most important regula-
tions issued by the Treasury as an
emergency bank ruling has been can
celed. This regulation related to the
payment Of money for food and the
transportation OF food. other emer-
gencies and for pay rolls. 1t was the
Regulation under which all distress
money was permitted to be paid.
The Treasury considers that the
regulation is no longer needed and its
withdrawal will conserve the assets IN
banks which do not have Licenses to
operate on full schedules The aim OF
the latest ruling is to help conservators
conserve bank funds.
At the time the regulation was issued
It was interpreted in detail by the
washington Clearing House Association
for the benefit of the local banks. all OF
which were then under the honoay
proclamation order from the President.
1t greatly relieved the situation IN
Washington as money was at once
made available for dire needs"
The Treasury takes the view that
sufficient banks are now open to take
care of all needs for necessities as well
as for pay roll demands.
Stocks Added to d. c. List.
The governors of the Washington
Stock Exchange added three more
stocks to the list today, trading 70 pegln
tomorrow The issues are Mergen-
thaler Linotype, Woodward & Lothrop
common and woodward & Lothrop pre-
ferred.
Today's market opened with two
shares of Potomac Electric Power 5l2
per cent preferred stock selling at los.
Lanston Monotype figured IN four 10
share and one six-share sales at 40.
The rest of the trading was confined
to bonds Washington Gas Light 5s,
1860, came out in $500 transaction
at 1O3 Potomac Electric Power Con-
solidated SIS figured in two $1,000 sales
at 1O3. The market closed with 81 900
Washington Railway & Electric As
changing hands at 80.
Heard in Financial District.
Depositors in the Franklin National
Bank we're greatly pleased to learn
that Vice President Thomas P. Hick-
man had been made conservator of the
bank, relieving F. C. Ochershausen,
temporarily assigned to this work. Mr..
Hickman's desk was covered with dow-
ers today.
Vice President Wilbur H. zepp OF
the United States Savings Bank also
assumed his duties as conServator to-
day, following the Treasury announce
ment made Saturday evening. He re-
lieved j. l. Bailey, who had been acting
as conservator temporarily. Mr.. Zepp
also received many congratulations from
the banks customers.
The interest in the New York Stock
Market is being we'll maintained judg-
ing by the attendance in the local
brokerage houses Today's opening OF
the week was considered favorable by
market followers.
incorporated Investors has declared
the regular semi annual dividend OF
21a per cent in stock, payable April 20
to stock of record March %.
Gold Dust Corporation has declared
the regular quarterly dividend Of SO
cents on the common stock, payable
May ! to stock of record April 10.
cTYuCD OIIOTATY0Nc