Evening star., 1934-02-26
INSURANCE GAIN
DISCLOSED HERE
January Business Advances
Eight Per Cent Above
Total Year Ago.
BY EDWARD c, STONE,

WaShington's alert insurance agents
bestirred themselves in January and
boosted sales 8 per cent higher than
in January a year ago and also
pushed the city way up in the list in
comparison with business done by the
48 States In November and Decem-
Der the Capital stood at the bottom
of the whole list in its total new
policy percentages
IN this territory North Carolina
made the best showing, with 33 per
cent more new insurance than was
written in January, 1888. This State
was fourth from the top in the ma
tional list South Carolina also hit
wonderful mark turning in a gain
of 81 per cent.
West Virginia came along with an
advance of 10 per cent in new bust
ness, while Virginia did 10 per cent
more business than in the first month
of the preceding year. All these
States and the District we're ahead
of the average for the Nation. which
was | per cent better than the record
Of year ago.
HAZy LIE insurance IN JANUARY IN Me
United States showed an increase
over January. 1893 During 1888 the
monthly comparisons showed a steady
improvement, but January, 1884, rep
resents the first increase recorded in
"a months. Seven sections of the
country showed the gain; only two,
the New England and Middle Allan
tic, failed to equal the production of
last January OF the companies re-
porting figures. ca per cent reported
gains in sales during January.
District Writes S3,555,0OO.
New insurance written in the Dis
trict of Columbia in January totaled
s3555,C00 While Maryland gained
but l per cent and was the same as
the national average, new business
during the month totaled S635l 900,
a very substantial figure.
Virginia'S new business totaled
$5040,OOO, while West Virginia put
S3,377,o0o into new life insurance
policies. North Car0lina'S record
total was s6,49o,O0O, while South
Cardinals new business in this field
amounted to $2,2ll,O0O
For January 46 per cent of the
companies doing business in Wash
ington reported gains over the like
period of 1888. Insurance men are
especially pleased that the national
average at least reveals an advance
over a long series of previous month
ly reports.
Today'S report comes from Hart
ford Nevada was at the top of the
list with a A per cent improvement
and South Dakota stood at the bot
tom, off 16 per cent.
Bank Code Meeting.
Investment bankers throughout the
United States will vote on the fair
practice rules for the investment
banking code at a meeting to be held
here March 5. Notice of the meeting
was sent by the Investment Bankers
Code Committee to all investment
bankers eligible to vote on the rules,
following extended meetings of the
committee in Washington. With the
announcement the committee also
submitted to investment bankers its
revised draft of the fair practice rules.
The preliminary draft of the rules
was previously submitted on Febru-
1Ty ~ IO IeSIOlldI lHttJlIISo VI III
vestment bankers in 26 cities. All of
these 26 meetings reported their de-
1iberations to the Code Committee in
Washington and changes that the
committee has made in the rules are
said to be mainly based upon the
reports from the regional meetings
Excepting certain changes relating
to municipal securities, the committee
revisions are said to be mainly of a
technical nature.
Investment bankers eligible to vote
ON the fair practice rules are those
who have assented to the basic in
vestment banking code, which was
approved by President Roosevelt No
vember 81. More than 1.100 invest
ment banking organizations have as
sented. These may vote by proxy, by
mail ballot or in person The Code
Committee has sent proxy blanks and
ballots to those eligible to vote and
in its letter to the aSsent0rS to the
code the committee has advised that
in voting for the rules voter valves
no right to object later to any specific
provisions.
Code Declared HpInful