Evening star., 1935-02-18
BUILDING GROUP
TO HEAR BULKLEY
Senator Will Address Loan
Experts Meeting Here
Next Week.
BY EDWARD C. STONE.

Senator Robert ]. Bulkley of Ohio,
will be one of the principal speakers
at the fifth annual Southeastern
Group Building and Loan Conference
of thirteen States at the Mayfiower
Hotel here, February 26 and 27, it
was announced today.
The conference will draw attend
ance from building and loan associa-
tion executives and directors in Ala
bama, Delaware, District of Columbia,
Florida, Georgia, Kentucky, Mary
land, Mississippi, North Carolina,
South Carolina, Tennessee, Virginia
and West Virginia.
Besides the Ohio Senator, who is
o member Of the important Banking
and Currency Committee, and chair
man of the Senate Subcommittee on
Federal Home Loan Banks and re-
lated matters. other prominent speak
ers will discuss matters of direct con-
Germ to the communities, which have
home lending agencies supported by
private capital
The annual stockholders meeting
of the Federal Home Loan Bank of
Winston Salem, which serves the ma
jority of the States in the district,
will be held the day before the con-
ference.
Home taxation and recent State
constitutional exemptions from such
taxes, repair and modernization loans
on homes, operations of titles 2 and
8 Of the National housing act, feder-
alization of building and loan asso-
Citations, and the status and prospects
OF real estate will be among the sub
jectS Of address and discussion.
Other speakers before the building
and loan meeting will include the
president and all Of the vice presi-
dents of the United States Building
and Loan League, I. Friedlander,
Houston, Tex; Morton Bodf1sh. Chi
cago; L. w. Pellet, Newburgh, N. Y,
and H. T. Donaldson, Lansing, Mich;
John R. B. Byers, director of mort
gage insurance of the Federal Hous-
ing Administration Alex Salvatore,
Wheeling, secretary of the West Vir-
ginia Building and Loan League; Fred
T. Greene, New York City, executive
secretary of the New York State
League of Savings and Loan Asso-
Citations, and Edwin M Einstein,
Fresno, Calf, director of the Pacific
Coast district in the United States
League.
TOoney Insurance Head.
Vincent L. Toomey has been re-
elected president of the Mutual In
vestment Fire Insurance Co. of the
District of Columbia, it was an
nounced today
Other officers reelected were NJ.
Frank Rupert, vice president;
Franklin P. Nash, treasurer, and H.
H. Carter, secretary. The company
reported very substantial progress
during the year of 1884 both in in
crease of new business written and
a declaration of SO per cent dividend
savings to its policy holders.
The company contemplates an ex-
pansion of their charter so as to
include tornado. plate glass. burglary,
automobile, personal liability and
property insurance.
Mr. Toomey who is serving his
tenth term as president of the COM
pany, is a member of the Washington
Bar Association. a member of the
State Council of the American Bar
Association for the District of Co.
lumbia, and lecturer in the law school
of Catholic University.
Bank Stocks Advance.
New York City bank stocks ad-
vanced to a new 1885 high at the
close of the past week, according to
figures compiled by Holt, Rose &
TroSter. The total value of 16 lead
ing issues aggregated 81 l,439,692, 900
on February Is, against 81 ,399 987 900
on February 8, an increase of S39, 9,705,-
900, or 2.84 per cent.
The current average yield of the
is issues of SAP per cent compares
with a yield of 5.57 per cent on Feb
ruary 8. The current market value
is now 118 times the known book
value, against lis times at the close
Of the previous week. Based upon
current figures, the 16 issues are now
quoted at an average of 1872 times
their known earnings, against 11.9
times on February 8.
Insurance Up "a Per Cent.
Sales in January of new paid-for
life insurance by AZ companies, hav-
ing 83 per cent of the total life in
surance outstanding in all United
States legal reserve companies,
amounted to S824,903, 900, compared
with S665, ,457, 900 in January, 1884,
gain of about "a per cent, according
to the Association of Life Insurance
Presidents. Sales of ordinary life in
surance increased 38 per cent, indus
trial insurance decreased 0.4 per cent
and group insurance declined 1853 per
cent from year ago.
Passenger revenues of the Atlantic
Coast Line Railroad totaled $5,035, ,918
in 1884, against $4,223,524 in 1888,
w. H. Howard, general passenger agent
for the line told the Interstate Com
merce Commission at the resumption
of hearings in the l. C. C.'s investiga-
tion of passenger rates Mr. Howard
declared that the coast line felt that
even if the rate had been 212 cents a
mile, instead of the present rate of p
cents, revenue of 1884 would have