Evening star., 1933-01-15
New Gas Issue Starts Sharp
Gain in Investments So
Far in 1888.
INSURANCE CLUB LEADERS
STUDY RISK PROBLEMS
Stoniar Tells Washington Institute
Members CT Three Chief Factors
ii Banking Success.
BY EDWARD C. STONE.


In the first two weeks trading in 1888
on the Washington Stock Exchange, 10.
cal bonds received far more attention
than stocks. In fact, bonds have beer
considerably more active than in the
final sessions of 1892
Interest has centered largely in the
washington Gas Light Co.'S new $8,-
100000 issue of per cent refunding
mortgage bonds, dated January l tC
mature in 1858. At the end of the week
LEGAL trading in these bonds had
reached 5000, 800 turnover on the
local Exchange.
The demand has been the largest wit
messed in any local bond issue in years.
94A, the price at which the issue was
placed on the market, and which means
a yield Of $40 per cent.
Washington Railway & Electric As
have taken next place in the limelight
SO far this year These bonds have fig
uTed in $4,000 turnover, opening 1888
at 3o1a and closing last Friday at 901a
At that figure they yield 4.8o per cent
Washington Gas 6s, Series A, and
Capital Traction first SIS have been in
about equal demand. The Series A gas
bonds mature during 1888 and selling
at 1909 yield $50 per cent. Traction
- OPC4lSQ lltS yCG1 al 0zT p anu IIdFS
advanced to 55l4. Other bonds which
have appeared in this years trading
are Anacostia & Potomac first SIS, Po-
tomac Electric Power Consolidated SIS
and Washington Gas 6S, Series B.
In the stock division the largest share
trading has been in Capital Traction,
which opened 1888 at IL and is now
selling at 1015 Potomac Electric Power
512 per cent preferred has been in good
demand Washington Railway & Elec-
trio preferred has advanced from 873a
to 80 in the past two weeks.
Insurance Men Study Problems.
At a recent meeting of the Life In
surance Club Of Washington, Frank
Halliday. actuary CT the Acacia Mutual
Life Insurance Co, gave most inter-
esting talk On the subject of Quality
Of Life Insurance Risks in the Future" !"
Mr.. Halliday pointed out that the trend
Is toward specialized examiners, stand
erdization Of occupational risks, better
trained inspectors, and q much closer
bond between the home office and the
field forces After his talk, Mr.. Haln-
day answered numerous questions re-
lative to financial statements, chronic
1apsers, and a more rigid selection of
agents, with special emphasis on
''iicatsrs''
John Lynch, president of the District
OF Columbia Life Underwriters Associa-
ticn, gave a brief resume Of the Joint
sjale5 Congress to be held in this city
on January 26. He stated that num-
b. IF distinguished speakers will be
On the program. He also requested
each member to assist Mr.. McCombs,
chairman Of the Membership Com
rnittce CT the Underwriters Association.
in his efforts to assure the maximum
attendance at the Congress.
George B. Farquhar told what was
being done relative to the incorpora-
ticn Of the club, it is expected to be
completed at the next meeting.
All members Of the club are looking
forward with enthusiasm to 1888 and
expect to hang up better production
records
Factors in Banking Success.
ORE Of the high spcts in local bank
ing circles during the week was the
address Of Harold Stonier, national
educational director Of the American
Institute Of Banking Dr.. Steiner told
members Of Washington Chapter that
there are three factors affecting the
American banking system, which in a
large way will determine its strength
end effectiveness during the next
decade.
The first factor is that which has to
TO with legislation, he said. The second
has to do with clearing house activities
and how they improve banking prac-
tees and policies by cooperative action.
The third important factor concerns
development of the banking personnel
through education.
fo !, - 10
with the improvement of banking in
this country is the effort now being
made to improve the personnel of the
banking staffs. Up to comparatively
recent time. there had not been much
thought given to the education and
training of the banker There have
been but few career men in banking.
In recent American history, Dr.
Stonier added, there has been too much
opportunity for man to enter the
banking business by simply putting up
a few dollars and with some associates
securing a charter. In but rare cases
have these ventures been successful,
and many of the fatalities in Ameri-
can banking have come from this
source For the most part such bank
ers have paid no attention to banking
standards. banking education or better
bought their way into the banking bust
ness in order to raise their social
status.
Heard in Financial District.
Washington bankers will gather In
large numbers at the Willard tomorrow
evening to attend the District Bank
ers' Association Midwinter meeting
Albert w. Atwood, economist and flnan-
eial writer, will be the guest speaker
and reports on legislative matters VIII
add greatly to the importance OF the
occasion. President c. H. Pope Will
preside, the arrangements having beer
in the hands of a committee headed
by Karl w Corby.
The Capital Traction Co. IS annual re-
port contained fine tribute to the late
Edward j. Stellwagen, who was elected
director on March II, 1896, and served
the company continuously until his
death, longer than any other director
In the history Of the company or either
af its predecessors"
Mr.. Stellwagen was president Of the
Union Trust Co. when he died.