Evening star., 1933-02-21


; co. for many years having made bril-
liant record as trust officer and as
vice president. When he took the reins,
he was thoroughly familiar with every
department of the bank. His record
during the past five years is most
enviable one and the many congratula-
tions received from associates today
were we'll deserved.
Mr.. Thorn is one of the most active
men in the financial district. He has
always taken great interest in civic
affairs and is constantly serving on i'm
portant committees, giving most freely
of his broad experience in finance.
director in the Washington Gas Light
Co, he is also connected with other
CORPORATIONS, as well as being a member
of the Columbia Historical Society,
Washington Board of Trade, Metro
politan, Riding and Hunt and Chevy
Chase Country Clubs.
January Insurance Sales Lower.
or Sales of ordinary life insurance in
the District of Columbia in January
were 40 per cent lower than in the
= same month a year ago, according to
the monthly report received today from
Hartford. The National Capital was no
exception to the rule as sales were
lower in every section of the United
States, the average for the whole coun-
try being down 26 per cent.
Maryland and South Carolina made
the best showings of the States in the
fifth Federal Reserve district, each re-
porting decreases of 90 per cent. New
/. insurance in North Carolina was off
SO per cent, in Virginia, 80 per cent,
and in West Virginia, A per cent. Ne
braska headed the list with a loss in
business of only 6 per cent, while
Arizona stood at the bottom of the list
with a setback of SO per cent.
Maryland wrote S6,281 900 in new
ordinary life insurance during January,
the District of Columbia's business to-
tailed $3,408000 Virginia, $4,630, 900;
West Virginia, S2,831 900; North Caro-
lima, S4,994,000 and South Carolina,
S2,190,000. OF course, New York wrote
the largest amount, sos, ,389, 900. Penn
sylvania wrote $47,000,000 during jan
uary. While the percentage figures are
lower in the first month OF the present
year, yet the total policies written reach
a very large sum.
The New England section recorded
the smallest loss for the month. with
Connecticut and Massachusetts, report
ing an experience much above the av-
1erage.
The figures are issued by the Life
Insurance Sales Research Bureau, at
Hartford, and are based on the expert
ence of 79 companies which have in
force 81 per cent of the total legal
reserve ordinary life insurance out
standing in the United States.
4 New Storage Company Directors.
At the annual stockholders meeting
of, the Fidelity Storage Co. members OF
the board of directors were elected for
the coming year as follows:
= H. H Darneille, Frederick de c. Faust.
David B. Karrick, James l. karrick, jr;;
C., J. Lipp, H. S. PLACER and Eugene B.
Roberts.
= Frederick de C. Faust and Eugene B.
Roberts are both new members of the
board. Mr.. Faust is a member of the
law firm of Sherley, Faust and Wilson
. and Eugene B. Roberts is with Randall
HI Hagner g. Co.
Z Atlantic Coast Line Railroad in pre-
1ininary statement for year ended De-
Zcenber 81, 1882, shows net loss OF So
: 685 ,229 after taxes and charges. This
compares with net income OF $2,O20,-
t855 equivalent after 5 per cent preferred
dividends, to $244 share on 1923, ,427
shares of common stock in 1881.
= December net loss was S781 1868 after
taxes and charges against net income of
>S1,279 760 in December of previous year.
= Balance sheet items of Atlantic Coast
Line Railroad as of December 81, follow:
Current assets sis'iil,a80 Sfl s. s5s3iII,s34
Current liabilities. 6,303,352 s'365'sSS
bonGs. tSs' etc tc S'ocH' ... e,795,ao9 e,s22,eo2
within months. 1.721.30O 1,O64,3oO
tOther than those of affiliated companies.
BANKS Anxious to Make Loans.
Local bankers reported today that the
blanks are ready for applicants in con-
nection with the $500,000 fund which
has been set aside for repairing and
improving property in the District Of
Columbia Several of the banks have
already received inquiries regarding the
loans by residents who are anxious to
improve their property and at the
same time furnish relief to the unem-
ployment situation.
Leading bankers said today that each
bank has been notified by the District
Bankers Association how much it
should loan in order to do its full share
in pushing the campaign. The quota
VISA fixed according to capitalization.
However, several bankers said that
their banks stood ready to loan more
than this amount, provided the appli-
cants show that they are in position
to carry out their part of the contracts.
The liberal offer disproveS the idea
sometimes expressed in the financial
district by uninformed people to the
effect that the banks are not willing to
make loans under present economic
conditions. Statements from officials
indicate that they are both willing and
glad TO make such loans.
The banks are in an excellent posi-
ton to make a great number of loans
which will benefit property owners and
the whole community at the same time,
officials assert.
d. c. Exchange Closes Tomorrow.
The board of governors of the wash
3ngton Stock Exchange voted today to
close the Exchange tomorrow, Wash
ingtons birthday The New York Ex-
change will be closed, as will all the
local banks.
Trading on the Exchange today was
confined to two issues. Several $1,000
sales in Washington Gas Light 6s, series
A. were recorded, all made at 100.
These are the bonds that mature this
year. The other transaction was in
Norfolk e. Washington Steamboat Co.
stock single share changing hands at
s6I2.
....sJanuary was the fourth consecutive
month in which the Chesapeake &,
Chioshas shown increased net operating
lncnne as compared with year ago
The increases are due to an excellent
nlaRement of coal, mines along the road
pstng among the lowest cost producers
inathe country. principally because OF
low wage scale.
sssset Fewer U. S. Bills Requested.
srBids for latest Offering of Treasury
tiliSegere only little more than 2 to
eSecompared with the usual oversub-