Evening star., 1934-05-21
D. c. INSURANCE
ABOVE YEAR AGO
New Life Policies in April
6 Per Cent Ahead of
1888 Mark.
BY EDWARD C. STONE.

WaShlngtOnS lie insurance agenIS
wrote per cent more new insurance
in April, this year, than last, accord
ing to reports received today from the
Life Insurance Sales Research Bureau,
Hartford, Conn. New insurance writ
ten in the District of Columbia in
the first four months of 1884 was 9
per cent better than in the like pc
riod a year ago.
Every section of the United States
did more business in April, this year,
than a year ago. The average for
the country showed a 20 per cent
gain and IA per cent advance Tor
the year up to May l. The District
of Columbia stood third from the bot
tom of the list covering the 48 States,
Utah with 5 per cent gain and Ar
kansas, with an improvement of only
3 per cent, standing at the bottom.
Nearby States made a fine record.
South Carolina reported a SO per
cent advance, while West Virginia
wrote 54 per cent more new business
than in April, 1898. Maryland en-
joyed an insurance boom, announcing
a AZ per cent pickup. North Caro-
lima was % per cent ahead of last
year, and Virginia stepped up new
policies by l3 per cent.
In the first four months Maryland
was % per cent ahead of last year,
Virginia 10 per cent, West Virginia
and North Carolina both "a per cent,
while South Carolina was 43 per cent
above last years four-month mark
of the list in April, the highest place
being grabbed by Wyoming, with a
jump of l43 per cent.
Agents in this city wrote S4.047 900
new business in April; Maryland.
S8,962 900; Virginia, SIS ,904 900; West
Virginia, $4170000; North Carolina,
S6,960000, and South Carolina, So
$4,000.
Address on Banking Act.
The principal address on the last
day Of the coming convention of local
bankers at White Sulphur Springs will
be made by Frederick P. H. Siddons,
secretary of the American Security &
Trust Co. Mr.. Siddons, who is also
first vice president of the District of
Columbia Bankers Association, will
speak on The Effects of the Banking
Act of 1888"
His address on this topic at the
recent regional conference of bank au-
ditors and controllers in Philadelphia
created such widespread interest that
the Program Committee of the local
association has requested him to re-
peat it for the benefit of the Wash
1npt0n financial 70
their convention next week. It is un-
derstood that Mr.. Siddons will in
clude matters that have developed
since his recent talk.
Other speakers on the program were
completing their addresses today, pre-
paratory to departure for White Sui
phur next Saturday night Arrange
mentS have now been completed to
the finest detail.
Banks Helping hevival.
The return of banking to an operat-
ing condition constitutes the best
reason I know for expecting gradual
return to prosperity" Randolph Bur-
CESS, deputy governor of the Federal
Reserve Bank of New York, declared
at the recent convention of the New
Jersey Bankers Association.
Prosperity does not have to be i'm
posed on the American people," he
said. They make it themselves if
given a chance. 1t is millions of in
dividuals, all seeking to make a living,
to resume normal activities, to create
something, that constitutes an almost
irresistible army fighting its way
toward prosperity They can only be
prevented from reaching their objec-
tive by most powerful impediments.
"a bad banking system which tends
to destroy the means by which eco
nomic life is conducted is such an i'm
pediment. Today it has been largely
removed"
DR. Burgess pointed out that the
country's banks owed the Federal
Reserve system ST. 1000 900 at the
end of the 1888 crisis. They have cut
the debt to less than $40,0N0,000, the
smallest figure since before the war, he
said Licensed banks owed the Re-
construction Finance Corporation
$675, 100000 a year ago. Now they
have reduced it to $3.50, 100000
Women Lead A. T. & T. List.
Almost one-third of all holders Of
stock of the American Telephone &
Telegraph Co. are housewives, accord
ing to an analysis of the list of hold
ers prepared by c. S. Van Cise, as
sistant treasurer of the company,
while 56 per cent of the total num-
ber are women.
Divided by occupational categories,
1t appears that 100000 of the 681 900
stockholders at the end of 1888 were
housewives, or 30.84 per cent of the
total number, followed by Bell System
employees, numbering $4,000, or 1888
per cent of the total stockholders of
the company. Clerks and sales people
are third, 10000 in number, or 1921
per cent of the total. Individuals
constitute 96.33 per cent of the list,
and trustees, corporations and private
firms only 3.67 per cent.
Some 10000 trustees, executors
and similar fiduciaries are regis
tered stockholders.
Today's Trading on Exchange.
The Summer heat, Summer lull,
lack of orders or some other retard-
ing factor hit the Washington Stock
Exchange a hard wallop today Busi-
ness was practically at a standstill,
only one sale being recorded during
the session. That sale was in Wash
ington Railway & Electric As. ST 1000
changing hands at 95. up Is from the
last previous transaction.
Perhaps the Washington Exchange
caught the spirit of the New York
Exchange where the weeks business
started off with exceptional dullness.
Five issues on the local board are now
being quoted ex-dividend, the two Po-
tomac Electric Power issues, Wash
ington Railway & Electric common
and preferred and Lanston Monotype.
The Virginia Electric & Power Co.
has declared the regular quarterly
dividend of S150 on the St preferred
stock, payable June 20 to stock of
record May 81
More than 100000 in new busi-
ness, a steadily mounting volume of
traffic. and material economies in
rail operation have resulted from the
recent introduction of collection and