Evening star., 1933-01-27


ed clearings Of
$45031,000, COM
pared with $751;
l65O00 in the pre- John p. Lynch.
vious week and
down over % per cent from last year.
Richmond clearings were also lower,
being $40, ,309,0 900, compared with $27,-
742 1000 for the week ended January 18,
and 1876 per cent below the total clear
ings in the corresponding week in 1882.
Norfolk presented some rather star
ting figures. Clearings for the week
under review were $l,758000, against
$2,342,000 for the week ended January
18, and 46 per cent below the same
week in the previous year. Warm
weather slowing up coal shipments Is
Of the slump.
According to Bradstreet's Weekly.
clearings for the whole country were
10.2 per cent below the previous week
and 17.7 less than year ago.
Sales Congress Great Success.
John P. Lynch, president of the Dis
trict of Columbia Life Underwriters
Association, and his fellow members
made brilliant success of the WASH
ington-M Sales Congress, held
yesterday at the Shoreham Hotel. More
than 500 life underwriters in this city,
Maryland and Virginia were present,
double the attendance Of the last SIM
liar conference held here j. Gusts
Handy. acting president of the Balti-
more association. brought more than
100 members with him and presided at
one Of the business sessions.
AS it was a sales conference, all the
speakers stressed the best methods of
selling life insurance. Louis c. Roth
Of Buffalo started his business career
as shoe salesman. switched into life
insurance and sold policies totaling
more than S1000O00 last year The
S five-minute talks by John B. Cleland,
jr., and Paul H. Primm of Washington
and Thomas w. Harrison, jr; Carl E.
Hecht and Abram NJ Seligman of Bal
timore were filled with sound sugges-
tions.
McClelland ]. Donnelly of New
Castle, Pa, another speaker, originated
the widely known insurance advertise
ment entitled "The Ten Widows Street"
In his home town at one time 10
widows lived on the same street, all
being able to live in moderate comfort
on the life insurance left by their huS-
bands. Oliver Thurman was perhaps
the best known speaker. He is in the
$1,000000 producing class and was one
of the organizers of the Life Insurance
Research Bureau, at Hartford, Conn,
which is of such tremendous value to
all agency heads. Holgar j. johnson
of Pittsburgh and Robert B. Coolidge,
president of the Cleveland Underwriters
Association, also made excellent ad-
dresses.
The Shoreham's main dining room
was packed at the luncheon, during
which several musical selections were
rendered and playlet, "Life'S Like
That" was presented by Carl Smith
Dow, George Clendaniel and Frank
Eliot.
Otterback Attends Savings Farley.
Maurice Otterback president of the
Anacostia Bank, is attending the East
ern Regional Savings Conference, now
in session in New York. At yesterdays
meeting, President Francis H. Sisson of
the American Bankers Association,
spoke at length on the Glass bill. He
concluded his address with an attack
on imitation. Imitation, he said, is not
the pathway to business recovery in
the United States and bankers should
oppose such misguided efforts to bet
ter our economic situation"
securities, greater control of public ex-
penditures, and real instead of feigned
economy, were demanded by other
speakers and it was stated that in times
like these the things that touch the
pocketbook are of commanding i'm
portance. Technocracy came in for a
share of the forum discussions yester-
day. Two important addresses today
covered "The Mortgage Situation" and
1.-The Federal Reserve System-Can Its
Services Be Fitted to the Needs Of the
Savings Banks and Savings Depart
u1ents."
Trading on D. C. Exchange.
The transfer of $1,000 Washington
Gas IS, series A, at 1902, started
business on the Washington Stock
Exchange today. Capital Traction
stock next appeared on the board, two
small sales taking place at IL.
Potomac Electric Power 5l2 per cent
preferred came out in three small lot
salss at 1O71a. After call, Washington
$500 sales at 1001a. Capital Traction IS
changed hands in two $500 sales at 561a.
Washington Railway &, Electric pre-
ferred came out on the board today for
the first time in many sessions. It sold
at 887s, q and 81 on 35-share turn
over. The unlisted securities were
; checked up, as usual on Friday. Two
- changes were noted, National Press
Building first 512s advancing from 81
to g and Washington Suburban 512s
moving from IS to CT.
Heard in Financial District.
Charles B. Quarles, who has been
connected with the Washington office
of Mackubin, Goodrich & Co., for the
past three years, has been appointed
an assistant manager He is native
of Virginia and was in the real estate
business for several years before en-
tering the brokerage field.
The board of directors Of Niagara
Share Corporation of Maryland have
declared a full years dividend en- the
class A Sc preferred stock of the COM
pany, payable, $3.50 quarterly, April l,
July l, october and January 2, to
holders of record March Is, June Is,
September Is and December Is.
Byron D. Miller, president of the F.
w. Woolworth Co., was e,ected to the
beard of directors of the Lincoln Life
Insurance Co. at Fort Wayne, Ind, a
lew days ago.
- The recent Treasury offering of $780,
100000 25s per cent notes has been
oversubscribed 81 times, according to
Secretary Mills. The practice of pad
ding offers has now reached such pro-
portions that the department Is
considering measures to deal with 1t
1n, the interest of both the subscribers
and the Treasury, Secretary Mills said.