Evening star., 1934-08-21
INSURANCE SALES
WELL ABOVE 1883
D. c. Life Policies Exceed
Year Ago II Per Cent
During July.
BY EDWARD c. STONE.


ington during July scored an increase
of IL per cent over the mark set in
July, 1888 according to the monthly
statement of insurance comparisons
received from Hartford. The Nation
as a whole revealed a gain of per
cent.
West Virginia excelled every other
State in the Union with a startling
gain of SO per cent over the business
done in July, 1888. Maryland also
made a brilliant record with a 80 per
cent increase Virginia attained a
rise of 16 per cent. North and South
Carolina were both behind the Wash
ington record, each reporting pick-ups
Of per cent.
Washington agents wrote S3,746,0 900
In new business in July; Maryland
business totaled $7,789 900, new pol
icies in Virginia amounted to $5,871,-
600, West Virginia to SIS, ,o84 900, North
Carolina, S5,979, 900, and South Caro-
line, S2,431,000 In Washington 40
per cent of the companies doing
business here reported gains during
the month
The close of the first seven months
of 1884 finds ordinary life insurance
sales in the United States IS per
cent ahead of those for the same
period last year. The gain in sales
was generally experienced, for in
every section Of the country the vol
ume Of new business exceeded that
of last year. Only one State, South
Dakota, fell below the 1888 figure.
The largest gains for the year were
made in the mountain section, which
showed a 80 per cent increase. The
West South Central States were 26
per cent ahead of last year and the
South Atlantic group, which includes
Washington, 25 per cent larger than
last year.
For the month of July SIS per cent
Of the reporting companies showed
increased sales. For the country as
whole the July total was 6 per
cent larger than for last July. All
sections of the country, except the
New EnglarS States and the East
South Central section, showed gains
In July over July, 1888.
BUSINESS Advancing Here.
A resume of the figures on Wash
1ngton'S leading business barometers
In July, which has recently been COM
pleted, makes most interesting read
ing and is strongly suggestive of ex-
cellent business conditions in the Ma
tional Capital during the rest of the
year.
Following steady monthly gain for
the first six months of this year, COM
pared with the corresponding months
last year, July scored 22.9 per cent
gain in bank clearings over July.
1888, total clearings of S63, ,082, 1928
comparing with $51, ,328,169, a Jump
OF more than $11, 100000.
The Potomac Electric Power Co. re-
ported an output Of 42,865, 1896 kilo-
watt-hours in July against the much
lower figure of 30,289,953 in July a
year ago. Covering the same period,
the Chesapeake & Potomac Telephone
Co. noted a slight falling-off in the
number of phones in use in July COM
pared with June of this year, but a
substantial gain over year ago,
1882 instruments against 172,675.
The number of calls also revealed a
fine gain over the record for July,
1888.
There always is seasonal let-down
In retail trade from June to July.
That Was true this year. However,
there was an increase of 22.4 per cent
in department store business in Wash
1ngton in July as compared with the
some month last year. The improve
ment has been sufficiently steady
month by month this year as to make
percentage gains practically certain
during the remainder of 1884
Postal receipts tell the same story
Of business progress. Receipts re-
ported by the City Post Office in July
totaled S424,733 in comparison with
$372,818 in July, 1888. This was more
than $50, 900 ahead of the same month
last year and but little behind the
June postal receipts this year. If the
expected advance in August over July
works out, the postal receipts for this
month will also be higher than last
August. There would be notable in
crease even if they should be prac-
tically the same as in July, August
receipts a year ago amounting to
e397,364.
Industrial Bank Opens Doors.
Today was the second day of op-
erations of the former Industrial Saw
ings Bank, located at Eleventh and
u streets, under the new name of
Industrial Bank of Washington AS
noted in yesterdays Star the bank is
now paying 35 per cent in dividends
to depositors in the old institution
and receiving deposits at the same
time. This dividend will amount to
about 100000
w. H. c. Brown, who is conservator
of the remaining assets of the old
bank, said today that much Of the
money being paid to former depositors
is being redeposited in the new insti-
tuition. Jesse H Mitchell is president
of the new bank and Isaac S. Mason,
vice president.
The Industrial Bank of Washington
is the only bank in the city being op-
Grated by colored people. During the
two days since it was reopened, the
lobby has been a very lively place.
The bank has membership in the
Federal Insurance Deposit Corp.
which means that all deposits up to
$4,000 are protected fully.
ID. c. Bankers on Vacations.
Albert S. Galley, vice president OF
the Lincoln National Bank, is passing
his vacation at Old Orchard Beach, on
the Maine coast.
John NJ. Riordon, vice president of
the Bank of Commerce g. Savings, is
taking his annual vacation and is now
at Madison the Sound in Con-