Evening star. [volume] (Washington, D.C.) 1854-1972, 1934-05-14


fication from Mitchell A. Skinner
100000 to ST. 100000 there are 2,148
banks. with deposits insured to the
extent of 425 per cent. In the clas-
sification of Sl,000,000 to 100000
there arc l,468 banks, with deposits
insured to the extent of 81 90 per
cent; from 100000 to S5000,000
there are $50 banks, with deposits in
sured to extent of Sc per cent: from
S5,OO0,0OO to $4,000 900 there are 683
banks, with deposits insured to eX-
tent of 46.9 per cent, and in the clas-
sification of S5O.0000 900 and over
there are 119 banks with deposits in
"sured to extent of 299 per cent.
Mr.. Crowley stated that 1898
banks, representing so per cent of all
banks in the fund, have deposits in
sured to the extent of 10 per cent.
These figures were cited by Mr..
Crowley to support the corporations
claim that $4,000 insurance for each
depositor is adequate.
Associates Honor Skinner
Retiring after As years af con-
tinuous service. Mitchell A Skinner
long manager Of the Washington dis
trict Of the Equitable Life Insurance
Co of Washington, was rendered
testimonial luncheon at the Willard
Hotel Saturday by the company in
recognition of faithful and efficient
service" approximately 100 business
associates and various other friends
paid tribute to the veteran insurance
man and witnessed the presentation
to him of a complete fishing outfit
and a gold watch.
Mr.. Skinner heard high praise
voiced by Henry P. Blair. president of
the company; Allen C. Clark, secre-
tary; Maurice D. Rosenberg, general
counsel w. Gwynn Gardiner. attor-
ney and close friends. and several
visiting district managers of the firm.
The fishing tackle was presented by
Paul Coleman, representing the Wash
ington district, and the watch by
Mrs. G. A. Clark, representing the
home Office force. L. H Hannah,
manager of agencies, was POSTMASTER.
Mr.. Skinner saw the business of
his firm in the District of Columbia
grow from a few thousands to over
Sl6,000,000 of life insurance in force.
He joined the concern as an agent in
1888, the first year of its existence
He was promoted to assistant man
eyer in 1889 and manager of the local
district in 1921. He is elder of the
Sixth Presbyterian Church and for
81 years served as superintendent of
the Sunday school there.
William G. Davis, deputy district
manager. succeeds Mr.. Skinner as
manager. He entered the employ of
the company in 1906, was promoted to
assistant manager in 1907 and be-
came deputy district manager in 1927.
McGeary Wins Fifth Place.
J. Earle McGeary of w. B. Hibbs &
Co., represented Washington Chapter,
American Institute of Banking, at the
regional debate held at the Chamber
lain Hotel, Old Point Comfort, Satur-
day night. Twelve chapters, covering
the district from New Jersey to North
Carolina, took part and Mr.. McGeary
won fifth place.
The debaters from the southeastern
division debated in the semi-finalS.
the winner to take part in the coming
institute national convention to be
held in Washington in June. In the
public speaking contest to be held
here several valuable prizes are the
stakes. The contest is always one of
the notable events of the national
gatherings.
The Old Point Comfort prehmi-
naries drew a very large and enthus-
iastic audience, the meeting being in
charge of Norfolk Chapter. The win
rer was H c. Weaheim of Pittsburgh
Chapter, while second place went to
Harold V. Semling of Baltimore
Chapter.
Capital Like War Times.
The depression must be somewhere
else; it is certainly not in Washington.
the magazine Sphere asserts. The
city appears to be as gay and pros
porous as in war times, with hotels
and stores crowded, theaters playing
to capacity audiences and restaurants
finding it difficult to meet the de-
mands made on them.
The Capital is always the favored
city for. no matter what happens to
business. the tax collectors still OPP
crate and the Government pays its
bills Moreover, business men have
to spend so much of their time in
Washington. making codes and other
things. that lots of money Is flowing
in which, in normal circumstances,
would have been spent elsewhere.
Various State capitals are reported
also to be in a comparatively happy
condition. 1t all goes to show that
government, just now, is far more
prosperous than industry, the maya
zine adds.
Lively Session on Exchange.
Business was good on the Washing
ton Stock Exchange as the weeks
trading opened today. Capital Trac-
ton stock was again sought at Is,
same as last weeks close.
Potomac Electric Power 6l2 per
cent preferred was strong at 10934
while the 5la per cent preferred sold
in small lots at 1925 and ITO.
Mergenthaler Linotype recorded sale
at 25, unchanged.
Washington Railway g. Electric
preferred opened at $685. and closed
WIFI ~ anu 10 SlldIe lUIS StllllIS az
e91s. The Potomac Power stock sales
were made eX-dividend.
Bonds were somewhat neglected.
Capital Traction SIS furnishing all the
days business. with $1,000 and ST 900
transfers taking place at 80. The
bonds closed with 8l1a bid and 80
asked.
Gossip in Financial District.
The State of Maryland has decided
upon August as the date of sale
of $2,350,000 4 per cent bonds. The
sale will include $2,000,000 as the bal
ance of a S12,00o,00O issue for I'M
employment in Baltimore.
T. Hunton Leith, general chairman
of the American Institute of Bank
ing Convention, said today that more
than 800 reservations already have
been received. 1t is believed certain
that about 1000 bankers and friends
will attend the June meeting here.
Baltimore bank clearings were up
-