Evening star., 1935-01-26
INSURANCE SCARS
22PER CENT HERE
December Scores Sharp
Rise-Report for Year
Also Shows Gain.
BY EDWARD c. STONE.

Gne corresponding uSuTc III AcCculpc4, T,
1888, while new life policies written
during the full year 1884 were IA per
cent higher than 1888. The December
gain is far ahead of the II per cent
advance for the whole country and
the yearly increase here was well
above the 10 per cent improvement
recorded in the United States aver
age.
Virginia did even better than
Washington in December, a 26 per
cent gain being reported. North Caro-
lima and South Carolina both an
nounced IA per cent increases in new
business. Two other States in this
territory, Maryland and West Vir-
ginia. fell behind the average for the
country, but added 7 per cent more
life insurance sales than in December,
1893.
For the full year. however, Mary
land agents wrote 20 per cent more
new business than in 1888 and West
Virginia boosted business by 25 per
cent. Virginia sales were up 13 per
cent, North Carolina. II per cent, and
South Carolina. IL per cent. accord
ing to the report received here today
from the Life Insurance Sales Re-
search Bureau, Hartford, Conn.
New December business in Wash
ington totaled $4.478, 900, Maryland
wrote, $7,s58 900, Virginia, $7,441 600;
West Virginia, s4,233,Oo0; North
Carolina, $8, 787 900, and South Caro-
line, $3,O52 ,00O Other States in the
South Atlantic group, Delaware,
Georgia and Florida, also had excel
lent increases both for the month and
the whole year.
It is interesting to note that Wash
ington's % per cent insurance gain
in December compares with a 81 per
slmost seem to be a relationship be-
tween the amount of money spent on
insurance and that spent in the re-
tail stores. For the full year, how
ever, retail trade made a considerably
larger gain than life insurance
chalked up. In the final month of
1884 better business was reported by
81 per cent of the life insurance firms
writing insurance here.
Little Plans Trust Farley.
Leon M. Little, president of the
trust division of the A. B. A., has
announced a most interesting pro-
gram for the sixteenth annual Mid
winter conference to be held in New
York February 1914, when present
problems in the administration of
estates and trusts will be threShed
out.
Among the speakers will be J. w.
wiz Of 2y
Merchants National Bank, Richmond,
Va: Harold Stonier, educational di-
rector. A. B. A: and Robertson Girls
void. vice president. Maryland Trust
Co., Baltimore.
L. E. Birdzell of Washington, gen.
eral counsel, Federal Deposit Insur-
ance Corp, will discuss Federal In
surance of Trust Deposits" and Rudolf
S. Hecht, president of the American
Bankers Association, will extend or
ganiZation greetings.
Reactions to present-day examina-
tion methods may precipitate lively
forum discussion. Trust Invest
ments" will be handled by J. Harvie
Wilkinson, jr. vice president, State
Planters Bank &, Trust Co., Rich
mond.
Pending Legislation-State and
Federal" will be reviewed by D. j.
Needham, general counsel, A. B. A.
Many other prominent speakers are
on the program, at least one coming
from as far as San Francisco. The
program appears to be unusually we'll
balanced. Several Washington bank
ers are planning to attend.
Fewer Pennsy Stockholders.
There was a decrease of 5,S78 in
the number of stockholders of the
Pennsylvania Railroad during the
year 1884, the total on January l,
1885, standing at 232,998, as COM
pared with 238,876 at the beginning
Of 1884.
The total on aJnuary also COM
pared with 233,253 on December /, a
decrease of 255 for December This
followed decrease of 22O during No.
vember and decrease of 234 during
October. September showed an in
crease of 80 and August an increase
OF 13l, the latter gain following 16
consecutive months of decreases.
Average holdings on January /, 1885,
were $3.50 shares, as compared with
56.45 on December l and with 5512
on January /, 1884. Number of shares
outstanding was unchanged at 49,
167,696.
Accountant Lauds Rules.
Praise of the regulations governing
the issuance of new securities which
have just been issued by the Securi-
ties and Exchange Commission was
voiced by Walter A. Staub president
OF the New York State Society of
Certified Public Accountants. Rep
reSentatives of the society have CO.
operated in the drafting of these and
other regulations issued since the
original Federal securities legislation
was passed in 1888
Mr.. Staub stated that form Az,
embodying the new regulations, has
been carefully prepared. gives every
evidence Of endeavoring to dis
tinguish between the essential and
the non-essential. AS in the case of
form 10 (for listing on exchanges),
1t was drafted and promulgated after
the commission had sought advice
and help from as many sources as
possible. which could contribute to
the solution of the commissions
problem"
Speaking of the effect of the regu-
lations, Mr.. Staub said that "the pub
1ication Of form Az marks the cul-
f1ination Of long period of work
on the part of that commission to
eliminate the occasion for the con-
siderable criticism heretofore ex-
pressed with respect to the great
volume of data required to be gath
cred and filed by corporations regis
tering securities under the 1888 Sc
curities act.