Evening star., 1933-02-16

him during his
residence in the
city. S#s
What outline he
will present as the David r. Houston.
best means toward
Business recovery remains to be SEEN
One point he will no doubt stress will
be the gold standard, as he has always
been noted for his sound money views"
Few men have more pronounced ideas
on this subject than the former Treas
ury Secretary. His opportunities for
business observation have been un-
usually broad.
His company, which was 90 years old
on February /, has just issued its an
nual report Total income in 1882 was
1928. .798,139, and total disbursements,
5000, ,048,867. New business was $277,-
692.031, compared with 1899 ,234, ,979 in
1881. To policy holders and benef1-
ciaries the company in 1882 paid over
5l,O00,O00 in death claims, surrender
values of S69,062,3 and dividends of
S43,014,524.
Mr.. Houston is enthusiastic over the
insurance outlook. He declares that
faith in insurance is justified. when
business sets up, as it will, business will
be greatly increased" he declares.
N0tables to Attend Banquet.
Henry T. Rainey, majority leader Of
the House of Representatives, will be
the guest Of honor of Washington
Chapter, American Institute of Bank
ing, at its twenty-ninth annual BAN
quet, to be held at the Willard Hotel
next Saturday evening, according to
James A. Soper, chairman Of the Ban
ouet Committee.
Other distinguished guests will in
clude D. c. Roper, former commissioner
of Internal Revenue; w. o. Woods,
treasurer of the United States; william
M. Mooney, city postmaster; Edgar E.
Mountjoy, deputy manager American
Bankers Association; Carter E. Tai
man, vice president Of the American
Bank & Trust Co. of Richmond and
past president of the national organi-
cation; George H. Keesee, cashier of the
Federal Reserve. Bank of Richmond;
j. Ross Burhouse, Institute National
Executive Councilmen of Philadelphia;
George Brown, manager of the Phila-
delphia Branch of the Reconstruction
Finance Corporation, and the presi-
dents of institute chapters from Phila-
delphia, Baltimore, Richmond, Norfolk
and Newark, N. j. As previously an
nounced, Frank N. Hail. president of
the institute, will speak.
Chairman Soper stated today that in
terest in the annual banquet had in
creased so rapidly during the past few
days that the attendance will pass the
800 mark.
National Life Honors Officers.
Karl S. Hoffman. general agent of
the National Life Insurance Co., Ver-
mont, and his local associates feted
Vice President John M. Thomas and
Actuary Henry Jackson. at a luncheon
at the Hamilton Hotel yesterday. Judge
Robert E. Healy of the Federal Trade
Commission, director in the COM
pany, was present and other local
guests included Robert E. Brown, Ver-
non E. Brown, jr.; Clifford T Day,
William H. P. Mckinley, Joseph F.
Newhall, Carl S. Engel Arthur w.
Greer, w. John Basehore, William H.
Harmon and r. Lee Kennedy.
Vice President Thomas lauded the
strength which life insurance companies
have displayed during the depression,
noted the special interest now being
taken in annuities, and emphasized the
part character plays in the business
The National, he said, is large pur-
chaser of municipal bonds, nearly 13
per cent of our assets being in Govern
ment, State and municipal bonds. In
judging municipal bond the character
OF the people making up the community
is an important factor. A city well
known for the high character and flnan-
cial integrity Of its citizens can provide
for necessary Improvements at lower
cost than is possible to a town which
does not bear so good name. He
added:
Character is an important factor in
the selection of insurance lists. The
public thinks of the life insurance agent
as on his knees before any one who can
pay premium. This is far from the
case. We do not want people of shady
financial reputation, nor those engaged
In illegal business, nor people whose
moral character will not bear investiga-
tion.'
Mr.. Jackson, the actuary Of the COM
pany, discussed the peculiar safeguards
OF life insurance as an institution which
MAKE it so impregnably sound.
Firm Praises Bank Stocks.
The Bank and Insurance Stock Guide,
issued monthly by Ferris, Woodroof &
Lewis, Inc. of this city, presents an
analysis of the 10 largest New York
banks which shows them to be In ex-
cellent position
1ilt COiilUllleU OepOSlIS Oh tlllS group
amount to S6,914,476,000 and one days
quick assets, cash and United States
Government bonds, amount to S3908,-
100000, which shows them to be ap-
proximately So per cent liquid. This
does not take into account the addi-
tional billions in State, municipal and
other high-grade, easily liquidated
bonds" the review says.
The analysis states that these banks
are in a particularly good position to
take advantage Of the revival in trade
that must inevitably come.
Potomac Electric Power 511 per cent
preferred sold ex dividend at 1868 on
the Washington Stock Exchange today.
In the bond division, 81 900 Washington
Railway g. Electric As came out at go.
Washington Railway & Electric COM
mon and preferred stocks are now
quoted ex dividend. following the recent
dividend declarations.
Secretary of the Navy Charles Francis
Adams has been elected a director in
the American Telephone & Telegraph
Co, which yesterday declared its regu-
lar quarterly dividend Of s2-25 a share.
American Tobacco Co. has declared
the regular quarterly dividend of sl,50
on the preferred stock, payable April