Evening star., 1933-04-09
New Club President Succeeds
Primm-0ther Officials
Are Named.
M'ELFRESH TO DIRECT
UNDERWRITERS DRIVE
Rally Is Planned in Connection
With National Celebration
Scheduled April 1922.
BY EDWARD C. STONE.

Herbert L. Barlow was elected preS1-
dent Of the Life Insurance Club of
Washington at the annual meeting
held at the Lafayette Hotel, succeed
ing Paul Primm, whose term expired.
John H. Snyder was chosen vice presi-
dent and r. Clyde Smith was re-
elected secretary-treasurer.
Mr. Barlow has been active in the
life insurance field since 1906, and for
the past 16 years has been connected
with the Prudential Insurance Co. in
the capacity of special agent and as
assistant manager of the Washington
office. He has an enviable record in
the production field, which is evidenced
by the fact that he has never failed
to qualify for the home Office conven-
tions of his company.
John H. Snyder of the Mutual Bene-
At, and R. Clyde Smith of the Mutual
Life also have exceptional production
records. Mr.. Snyder is a past presi-
dent of the District of Columbia Life
Underwriters Association, while Mr..
Smith was such a success as secretary
treasurer last year that the members
felt it great pleasure to re-elect him.
l.. H. Riggles, J. A. Maphis and Paul
Prinm were elected directors of the
club for periods of one, two and three
years.
AS is customary the origin and early
history Of the club was reviewed for
the benefit of the newer members. The
progress the club has made in elimi-
mating many undesirable field and
agency practices was stressed. The
election closed very successful year
under Mr.. Primm as president.
McElfresh Heads Insurance Drive.
John L. McElfresh has been appointed
by John P. Lynch, president Of the
District of Columbia Life Underwriters
Association, to act as chairman OF the
committee cooperating with the ma
tional association in sponsoring Ma
tional Independence Week Through
Life Insurance" which has been set as
the week of April II to %. .ss@4
M McElfresh is general agent OF
the Connecticut Mutual Life Insurance
Co. in Washington, chairman OF the
managers, section and first vice presi- /!
dent of the local underwriters asso-
citation. He is the son-in-law OF V. w.
Kenney of Boston, an authority on life
insurance, who recently addressed the
local association.
The local underwriters will hold a
rally In connection with National Life
Insurance week, on April l8 at the
Washington Hotel, at which. time the
association will be addressed by ma
tionally known speaker on life insur-
ence.
President Lynch announced yesterday
that among the radio speakers secured
for Life Insurance week are Merle
Thorpe, editor of the Nations Busi-
ness: Albert W. Atwood, editorial writer
for the Saturday Evening Post; Gov.
Wilbur L. Cross of Connecticut, Secre-
tary Of Labor Frances Perkins, DR.. S.
Parkes Cadman and Daniel A. Polling,
noted clergyman, and George S. Van
Schaick.
d. C. Bankers watching Capitol.
Local bankers are intensely interested
IN the latest moves in connection with
the famous Glass bank bill. Revival CT
the proposal to guarantee deposits in
Federal Reserve member banks has per-
haps drawn the most comment
Opinion in the financial district is
divided. Some bankers are bitterly op-
posed to the idea, as forcing good
banks to help pay for the mistakes of
bad banks" Other financiers believe
the cost might not be too heavy if it
caused universal confidence in the
banks, with a probable tremendous in
flow of deposits. Assured safety is
factor greatly to be desired; the ex-
pense point that cannot be overlooked.
Bankers said here yesterday that they
did not believe any plan to safeguard
deposits, that might be adopted by
Congress. would have anything to do
with banks now closed. The proposal
to have the Government advance funds
for the liquidating of closed banks is
likely to be more helpful in these in
stances. Where a bank has good, but
frozen assets, the proposal is to have
corporation supply the funds for pay
ing off the depositors. the money to be
returned to the corporation as the assets
thaw out and are converted into cash.
Financial District Comment
Members OF the Washington Stock
Exchange have been very much pleased
with the increase in business during re-
cent sessions. Since the reopening of
the exchange, following the bank holi-
day. interest in local securities has
shown marked improvement. Bonds
have figured in the largest business
volume, but stocks have not been for
gotten.
Efforts are being made to have the
address of Benjamin NJ. Anderson be-
fore the Washington Chapter American
Institute of Banking. broadcast, accord
ing to Chairman Norman T. Towson, as
sistant treasurer of the Washington
Loan & Trust Co. Mr. Anderson is
economist of the Chase National Bank
and will discuss current banking prob
lens in his talk here on the evening of
April 26 at the Hay-Adams House.
The purpose Of the Southern Railway
in seeking to reduce coach fares to / u
cents per mile is to learn whether a
general reduction in fares will stimu-
late traffic to such an extent that a
substantial increase in revenues will
follow The reduced fares. for which
Interstate Commerce Commission per-
mission is sought. would be for test
period of six months.