Evening star., 1933-08-08
lPTURN BENEFITS
NORTH AMERICAN
yRvd Company Shares, 1855
and 1856, More Than
Double in Value.
BY HAROLD ROGERS.

hA1NOAD NooLANc'
During the II months ended June 80,
1893, the market value of North Amer
ican Trust shares, 1855 to 1856, more
than doubled, according to report on
the supervision of the portfolios, as
submitted to the board of directors OF
Distributors Group. Inc, by Dean
Langmuir, vice president in charge OF
research.
The offering price to the investor rose
from ST 80 per share at June 80, 1882, TO
$3.50 per share June 80, 1893. Among
the widely varied list of stocks in the
portfolios are those of the North Amer
ican Co., which own a majority of the
stock of the Washington street railway
companies Utilities represent 22.4 per
cent of the total investment in North
American Trust shares.
Stocks Appreciate.
The combined market value of the
underlying stocks June 80, 1882, was
S23.253,045, and at June 80, 1888, was
$57,416608 OF this increase, S3l ,056,-
1923 represents appreciation in the mar
ket value of the securities held at June
80. 1892. A decline in stock values
since June 80, 1888. has reduced this
appreciation but the asset value per
share at the lows of July, 1888, was
still more than LOO per cent in excess OF
the June 80, 1882, figure.
The June 30. 1888, market value OF
the securities held in the portfolios eX-
ceeded the cost thereof by S1l,904,795.
These securities were purchased for the
trusts in varying amounts, at various
times. as trust shares were issued, since
the trusts were initially offered.
North American Trust shares. 1855
iv,ya ,ny,S-
the success of which is not to be meas
ured by the performance OF any one
12-month period.
The portfolios of North American
Trust Shares. 1855 and 1856. comprise
more than 100000 shares of common
stock and are held by the trustee, City
Bank Farmers Trust Co. AS trust
property, these stocks are, of course,
segregated from the banks other assets
and the trust accounts are periodically
audited by Price. Waterhouse & Co.
Any owner of North American Trust
Shares is entitled to liquidate his hold
ings through the trustee at any time,
subject to the provisions of the trust
agreements.
The E. S. Brashears Agency, Wash
1ngton branch of the Union Central
Life of Cincinnati, reports an increase
of Ill per cent in net-paid-for business
for July over June. Applications for
new business also showed an increase.
U. S. Subscriptions Heavy.
The latest issue of 91-day Treasury
bills have been more than three times
oversubscribed. Acting Secretary of the
Treasury Acheson announced that the
total amount applied for was $685.
$4,000, of which SIS, 142 900 was &C
cepted.
The accepted bids ranged in price
from SO $40, equivalent to rate OF
about o24 per cent per annum;; to
99917, equivalent to a rate of about
033 per cent per annum, on a bank
discount basis. Only part of the
amount bid for at the latter price was
accepted The average price of Treas |
ury bills to be issued is 99919 and the
average rate is about 0.32 per cent per
annum on a bank discount basis. The
bills are dated August and mature
November s.
The Provident Mutual Life Insurance
Co. of Philadelphia report sharp de-
crease in applications for policy loans
and cash surrenders during the month
of July, despite the recent modification
of restrictions on the payment of cash
and loan values by the insurance COM
missioners of the various States.
The net cash demand through loans
and cash surrender during July amount
ed to only S1,048,000, the lowest figure
since September. 1890, and a decrease
of 80 per cent from the July, 1882, fig
ures Repayment of outstanding loans
totaled $4,000.
Wholesale Prices OFF.
Wholesale commodity prices declined
slightly during the latest week, accord
ing to the index of The National Fer
tilizer Association. During the week
ended August 5, this index declined
three points, receding from CTS to 67;2.
(The three-year average, 1926-28,
equals 1O0) A month ago the index
stood at 65.4 and year ago at 61.3.
The latest index number is therefore
18 points higher than it was a month
ago and is SO points higher than it was
at this time last year.
During the latest week only one OF
the IA major groups in the index ad-
vanced, five declined and eight showed
no change. The advancing group was
metals, but the gain was small. The
declining groups were foods, grains;
feeds and livestock, textiles, fats and
oils and fertilizer materials. The
largest declines were shown in grains,
feeds and livestock and fats and oils.
Thirty-six individual commodities
showed lower prices during the latest
week while only "a showed price gains.
During the preceding week there were
81 price advances and 26 price de-
clines.
Directors Reelected.
Directors of the Potomac Insurance
Co. of the District of Columbia were
reelected yesterday at the 102d annu-
al meeting of stockholders as follows:
A. A. Hoehling. Charles E. Hood, o. H.
p johnson, Thomas C. Moore. F.
Norie- Miller, c. F.. R. Ogilby, Alexander
K Phillips. Frederick Richardson and
George w. White.
The company has grown to paidin
capital of S5OO,O0O and a surplus to
policy holders of s1.855,415, with total
assets of S3622267. The company
operates in AZ States. Its headquarters
are in the Washington Loan and Trust
Co. Building.