Evening star., 1933-05-19
INSURANCE SALES
. SHOW DROP IN D c.
April Business Is Reported
l.. 23 Per Cent Below.
! Year Ago. 80.
BY EDWARD C. STONE.


written in the District of Columbia in
April was % per cent below the new
business done in the same month a
year ago. The average for the whole
country was 20 per cent under the like
1882 period.
Maryland made the best showing in
new insurance of any section in the
Fifth Federal Reserve District. Agents
came within 9 per cent of writing as
much insurance as they did in
April, 1882.
North Carolina showed a substantial
advance, new life insurance being only
IL per cent off from last year. Florida
was down 16 per cent, while Virginia
was above the average for the whole
country, drop of 10 per cent being
reported.
Georgia was down 81 per cent, South
Carolina, "a per cent, and West Virginia,
SO per cent. Utah took an amazing
upturn during the month reporting a
gain of 81 per cent over April, 1882.
New Mexico was the only other State
in the Union to increase business with
a gain of 2 per cent. Wyoming stood
at the bottom of the list, off 40 per
cent.
There was general Improvement all
over the country in April, in comparison
W.
Financial independence week, in which
the value of life insurance was especially
stressed. During that week more than
S1.30O,0O0 in new life insurance was
subscribed for in Washington alone.
While business was behind last year
in April, yet substantial amounts OF
new business were written in this terri
tory. New policies in the District OF
Columbia totaled $3,975.000. Maryland
wrote S6,329,000 Virginia S5,266,O0O,
West Virginia s2,752,000, North Caro-
lima S5.67O,O00 and South Carolina S2,-
$4,000.
C. & o. Share Net 78 Cents.
Report of Chesapeake & Ohio Rail-
way for four months ended April 80,
1888, shows net income of $5,9O3 1896
after taxes, charges and sinking fund
appropriations. equivalent after allow
ing for dividend requirements on 6H2
per cent preferred stock, to 78 cents
Share (par S25) on 7,652,8l3 shares of
common stock. This compares with
S6,164, 749, or 80 cents common share
in first four months of 1882.
April net income was 81 ,4l6,425 after
taxes, charges, etc, against net income
of s1,414,403 in April last year.
Statement for April and four months
compares as follows:
933 1899.
Net operating income 2,122546 2,l99'?56
.surpius after charges d4I6d25 I'4Id'do3 d
Net t"cnt operating income. s,7a5347 a,266.7?1
sSurpius after charges 5,903,S96 6,164.749
after sinking fund appropriations.
The c. & o. was the first big railroad
in the country to make public its April
figures.
Eleven Offices in Bank Merger.
The prospectus of the new central
national bank to be formed by the
merger of at least five of the 13 closed
local banks points to the fine locations
the merged bank will have. The banks
named in the merger at present have
IL different banking offices, five main
Offices and six branches in widely scat
tered sections of the Capital.
The Federal-American National Bank
& Trust Co. has its main Office at Four
teenth and G. streets northwest, large
branch at Fifteenth and H streets
northwest, another at Dupont Circle,
one at Twentieth street and Pennsyl-
vania avenue northwest and the other
one at Twelfth and Newton streets
northeast, in Brookland.
The District National Bank has its
main Office at 1406 G street northwest,
only a few steps from the Federal
American; branch at Connecticut
avenue and K street and another at
939 Ninth street northwest, at the in
terSection of New York avenue.
The three other banks SO far identi-
fed with the merger plan have only
their main banking rooms. The Po-
tomac Savings Bank is located at Wis
consin avenue and M street in George
town, Washington Savings Bank at
Tenth street and Grant place and the
Northeast Savings Bank at 800 H street
northeast. This set-up covers a terri
tory from Georgetown to Brookland and
takes in some unusually good down.
town locations.
Chapter to Hear Years Reports.
The regular monthly meeting of the
board of governors of Washington
Chapter, American Institute of Bank
ing, will be held tomorrow afternoon
at Collingwood Tea House on the
Mount Vernon boulevard. Invitations to
attend have been extended to newly
elected officers of the chapter and
newly elected members of the board
Annual reports will be submitted at
the business meeting by Robert H.
Lacey, who will cover in detail the
educational work of the chapter
Other reports to be submitted will
be those of Robert E. Lee, chairman
of the Membership Committee; Paul
j. Seltzer chief consul; James A. Soper,
chairman Banquet Committee; Aubrey
o. Dooley, chairman Public Speaking
Committee; Walter j. Anderson, chair
man Entertainment Committee; Frank
M. Perley, chairman Budget Commit
tee, and Mabel v. Royce, chairman
Publicity Committee.
Three Maryland Banks Reopen.
John J. Ghingher, Maryland State
Bank commissioner, stated that the
Hartford Bank of Bel Air, in Hartford
County; the Bank OF Delmar, in Wicom-
leo County, and the Hampstead Bank of
Hampstead, in Carroll County, have
been authorized to open on 100 per
cent basis. The reorganization plans
of the three institutions call for the
raising of a guarantee fund to meet all
losses and depreciation
What is believed to be the largest
single cotton sale ever transacted in
Norfolk was completed when Rodgers &
Co. bought 1876 bales from the Amer
lean Red Cross at an approximate cost
of 1925 900.
The Rodgers company was high bid
der over approximately II cotton firms
throughout the South, according to in
formation received by the Norfolk Cot
ton Exchange Bids were opened last
week in New Orleans and the price has
Just been confirmed in Washington.
Today's Trading on Exchange.
Trading on the Washington Stock
Exchange today opened with 10 shares
of Ianstcn Monotype selling at as,
price unchanged from the last previous
sale
Mergenthaler Linotype opened at
2434. off half point from yesterday S
close, for a 10-share lot. Two 100
share blocks of the stock then appeared
on the beard at the same price. The
market closed with a 15-share sale
made at 25. The stock is holding very
we'll in face Of the recent dividend ac-
ton
After call, Washington Gas Light
SIS. 1858. came out at G634 on a $1,000