Evening star., 1933-09-22
INSURANCE TOTAL
GAINS IN CAPITAL
New Business in August Is
3 Per Cent Ahead of
; Year Ago.
BY EDWARD c. STONE.

BY EDWARD c. STONE.
New life insurance written in August
in Washington showed a gain of per
cent compared with the corresponding
month a year ago, according to an
nouncement received here today from
Hartford Conn Sharp advances were
recorded in many parts of the country
the average gain being the best in 19
months. or since January. 1882.
!, Washington's per cent advance was
5 per cent ahead of the average for
the whole United States, which was
2 below the total for August. 1882.
The five States in the Fifth Federal
Reserve District also reported marked
improvement during the month. their
position in the national list being much
tetter than in most of the other months
this year.
South Carolina made the best show
trg of any State in the Fifth District,
reporting an advance of II per cent
over August, 1882. West Virginia came
next with a Jump of 8 per cent. while
North Carolina did 6 per cent more
business than year ago.
Virginia also had much better
month than year ago, 5 per cent more
business being written than in the like
period last year. Maryland was the
only nearby State that was below tf,e
national average, new life insurance be-
ing per cent lower than in
August. 1882.
S3,863 600 Policies Written Here.
New insurance written in Washing
Ton during August totaled S3,863 900,
according to todays report. Maryland
wrote S7.O33O O00 Virginia S5,372, 900.
West Virginia s3,870,000, North Carolina
S6.254,OOO, and South Carolina ST.
755,000.
Georgia wrote per cent more life
insurance this year in August than
year ago and Florida wrote just the
same amount Nebraska stood at the
top of the national list in August with
a 46 per cent increase, while Nevada
landed at the bottom with a drop OF
SO per cent compared with the ike
ever came Texas with decrease OF
only IA per cent.
AS shown above. sales for the whole
country in August were SO per cent
of the sales of August 1882. During
1898 the trend in sales has been gen.
orally upward. At the close Of the first
quarter, sales were only "a per cent OF
the volume of the same period last
wear: at the end of six months this had
Increased to 79 per cent. Figures just
compiled show that by the END OF
August the ratio of 1888 business COM
pared to 1882 had reached 83 per cent
Four of the nine sections OF the
country showed gains during the month;
two exactly equally last years produc-
tion; and only three fell below. In
every section there were states show
Ing gains, indicating that the increase
in business was generally distributed.
Over half the states during the past
month exceeded their volume OF last
August.
Agency SO Years Old.
: Celebrating the 88th anniversary of
IT'S founding the Washington agency
of the Mutual Benefit Life of New
Jersey is holding an all-day meeting
today at the Hamilton Hotel and at
the Kenwood Golf and Country Club
with so persons attending.
. In September. l845, Joseph C. Lewis
was appointed general agent of the
Mutual Benefit for the District of Co.
lumbia and in that month wrote in
surance on ANGUS M. Hoffar, dentist.
and William j. Anderson, merchant OF
Georgetown; and the following Wash
ingtonians: Thomas B. Griffin, mer-
chant: Samuel Kirby. cabinet maker;
Charles F. Wood, builder; John Fergu-
son, clerk; Sylvanus Holmes, grocer,
and Robert Clarke. carpenter. Sub
sequently, the company has done busi-
ness in Washington without interrupt
ton to date and now has 25 millions of
insurance in force on $500 local people.
The speakers at the morning session
included Jay Ream, general agent at
Pittsburgh; Miss Mildred F. Stone,
Newark, editor of publications; DR..
Earl " Sweet. Newark, medical director,
and Walter E. Barton, local attorney.
The evening meeting will be addressed
by Leo c. Rover, United States attorney
for the District of Columbia
H Lawrence Choate, who is the
seventh general agent to represent the
company in Washington, will preside.
Burdette Goes With New Bank.
Elmore T. Burdette. who was one of
the officials of the Potomac Savings
Bank for many years. will be associated
with the Georgetown branch of the
Hamilton National Bank when the con-
Solidated institution opens next Mon
day. He will be aSsiStat to C. Wendell
Shoemaker, who was selected some time
ago to be manager of the branch.
The Potomac Savings Bank staff has
been working every night recently in
VI Gllc SOlll1IIS OpClI1llS LII
the merger The savings banks assets
have been listed and checked and re-
checked and a host of other final de-
tails attended to by large stall OF
employees.
George w. Offutt remains with the
old bank as cOnSerVator and it is an
nounced that he will be assisted in
carrying on this work by B. Agee
Bowles, who has been connected with
the savings institution about 25 years
and knows practically all the patrons
personally.
Georgetown business men are look
ing forward with high hopes to the
opening of the new branch and the
freeing of a large amount OF money
tied up since last March. 1t may be
the beginning of a substantial business
upturn, they say.
d. c. Exchange Trading Quiet.
Business was rather slow on the
Washington Stock Exchange today,
only three issues changing hands. Po-
torac Electric Power IS, 1858, figured
in a 81 900 turnover at LOG. Washing
ton Railway G. Electric preferred stock
was the days leader, a single block OF
rs shares moving at 81 The final sale
was a single share of Potomac Electric
Power 6 per cent preferred at 1lO12.
Joseph B. Eastman, Federal co-ordl-
nator of railroads. says that reports in
dicated every major railroad executive
who has been receiving a salary of more
than 100000 a year has been reduced
to that figure in accordance with his
economy suggestion.
Harold L. Bache of j. S. Bache &
Co, which maintains a Washington
Office, has been elected member of
the Chicago Mercantile Exchange.
The first National Bank of Baltimore
has declared the regular quarterly
to stock of record September %.
Arundel Corporation has declared the
regular quarterly dividend of SO cents,
payable October 2 to stock of record
September 25.
! Metropoli.an Votes Dividend