Evening star., 1935-06-26

agency takes in the Shenandoah VAL
ley, Northern Virginia and Southern
Maryland.
John A. Marshall, superintendent of
insurance in the District of Columbia,
will address the insurance gathering
at the opening business session on
Friday morning. The second session
will be held Saturday morning in the
Chamber of Commerce Building.
The committee chairmen include
Thoma P. Morgan, jr., general chair
man; Paul H. Primm, chairman, Din
ner Committee; Russell Shelk. chair
man. Program Committee; Allan Mop.
Handy. chairman, Reception Commit
tee: w. A. Willis, chairman, Attend
ance Committee; Edgar r. Baturin.
chairman. Transportation Committee,
and W. Thomas Amole, chairman, Pic
mic Supper Committee.
David F. Houston, formerly Secre-
tary of the United States Treasury,
Is president of the Mutual Life In
surance Co. of New York. The COM
pany's first policy was issued on Feb
ruary /, 1843.
Banks Declare Dividends.
The directors of the National Bank
of Washington, at their regular
monthly meeting held today, declared
a sen1i-annual dividend of 50 per share
on the capital stock of the bank. pay
able July 2 to shareholders Of record
June 26. Transfer books will be
Y,,.a . ay7l T1I1V
Directors of the Liberty National
Bank have also declared the regular
semi-annual dividend Of $l50 per
share on the outstanding stock, pay
able July IS to stockholders of record
July 5. President Rolfe E Boiling an
nounced today.
At the monthly meeting OF the di-
rectors of the Security Storage Co.,
114o Fifteenth street, neld recently,
the regular quarterly dividend of $l.25
a share or the capital stock of the
company was declared, payable July
10 to stockholders of record at the
close of business July ).
Other dividends, which have been
declared and will be paid in a few
days. include disbursements by the
Lincoln National Bank, Bank of Com
merce & Savings. Bank of Bethesda,
National Union Fire Insurance Co.,
Real Estate Mortgage & Guaranty
Corp. preferred stock and woodward
& Lothrop common and preferred
issues.
Bond Exchange Time Extended.
Virginia Electric & Power Co. is
notifying holders of secured converti-
BILE 10-year 512 per cent bonds due
July 1, 1914, who have not yet con-
verted their holdings, that the COM
pany has extended to and including
July %. 1885, the period in which all
such unconverted called convertible
bonds may be converted into series A
bonds, upon terms and conditions
similar TO those contained in the
trust indenture, except that interest
on called convertible bonds converted
since June 81 shall be allowed only to
that date rather than to the actual
conversion date.
Paul A. Walker. chairman of the
Telephone Division of the Federal
Communications Commission, reports
that the $750,000 investigation of the
American Telephone &, Telegraph
Co. is now under way. and he hopes
1t will be completed by July 1886.
The ultimate aim of the investiga-
ton, Commissioner Walker said. Is to
get reasonable rates" Questioned as
to whether he believed rates were rea-
sonable now, Mr. Walker declined to
answer directly, but said that a rate
of $3.50 on the Pacific Coast for 1000
miles, compared with So rate else
where for a call of the same length
indicated that something is wrong"
Evidently the investigation to date
has had little or no effect on the price
of the stock which has recently ad-
vanced nearly 30 points. 1t crossed
130 and is now selling around 1875.
Attends Insurance Conference.
Roger M. Stuart of the j. L. Nc
Elfresh agency. Washington represent
atives for the Connecticut Mutual Life
Insurance Co., is at the Cavalier Hotel.
Virginia Beach, attending the national
educational conference of leading pro-
ducers and home office officials of the
company. Mr. Stuart qualified for
the conference as a member of the
Quarter Million Dollar Corps He has
been with the Connecticut Mutual
since 1914 and has met the qualifca-
ton requirements for every sales con-
ference held by the company since
that time, with the exception of one.
Three hundred and sixty-nine lead
ing producers of the Connecticut
Mutual from all over the United States
are attending this conference, the
largest ever held by the company. The
company announced that during the
1S months period open for writing
business toward qualification for the
conference, total of S190, ,036,002 was
paid for, as contrasted with S137, ,468.-
334 during the previous qualification
period.
Today's Trading on Exchange.
Capital Traction SIS again sold at
81 on the Washington Stock Exchange
today on a light turnover. Washing
ton Gas SIS. 1860. recorded a $1,000
at 10 Ill JtlS SbJOh AAN AcAOlA
Potomac Electric Power 5l2 per cent
preferred moved at ia.
Dividends have been declared by
the Columbia Title Insurance Co. and
by the Real Estate Title Insurance
Co., both stocks being quoted ex-
dividend today. Bid and asked prices
on other issues were practically un-
changed today.
Washington bankers expressed salts
faction today over the Senate's action
favoring extension of the temporary
plan of bank deposit insurance for
another year. The present plan In
sures all deposits up to $4,000 in banks
which are members of the Federal
Deposit Insurance Corp.
In II weeks there has been an in
creas of 100 per cent in the amount OF
money home ownere have obtained
through the modernization credit plan
of the national housing act for the
&,,,ovovepney1t or n1oderniZatiOr of their