Evening star. [volume] (Washington, D.C.) 1854-1972, 1935-06-23
Addison Retained as Head
of important Law and
Legislative Group.
INSURANCE SALES LEAD
. NATION BY BIG MARGIN
80 Per Cent Gain Here in May
Contrasts With Declines of
Other Large Cities.
BY EDWARD C. STONE.

ACTIVITIES OF Cne new duHlllISI htlVC
year of the District of Columbia
Bankers Association were inaugurated
yesterday with the announcement of
important committees by the recently
elected president, Charles. H. Doing,
vice president of the Washington Loan
& Trust Co.
Possibly first, IN Importance in view
of pending changes in bank legislation
is the Law and Legislative Committee.
Frank G.. Addison, jr., president, Sc
curity Savings g. Commercial Bank,
has been reappointed chairman and
George o. VaSS, vice president and
cashier, Riggs National Bank, will be
vice chairman. Other members OF the
committee are Clarence F. Burton,
president, City Bank; Victor B, Deyber,
president, Second National Bank: Rob-
ert v. Fleming, president, Riggs Ma
ticnal Bank; H. Prescott Galley, presi-
dent, National Savings & Trust Co.;
George E. Hamilton, jr., assistant
counsel, Union Trust Co.. and Howard
Moran, vice president, American Sc
curity & Trust Co.
The important Budget Committee
will be composed of the ranking Off
GERS of the association, Karl w. Corby
of w. B. Hibbs & Co. and Thomas j.
Groom, vice president, Bank Of Com
merce and Savings, both vice presi-
dents of the association, and Albert S.
Galley, vice president, Lincoln Ma
tional Bank, who has been its treas
urer for about IS years. Other COM
rsittees will be announced as soon as
laf. Doing completes the slate for the
besy year anticipated by the local
organization.
Insurance Record Stands Out.
analysis of the monthly survey of
life insurance sales shows that Wash
inTton was far ahead of eight other
of the largest cities in the country in
new business during May. The 80 per
cent gain here compares with falling
of Of 10 per cent in Boston. IS per
cent in Chicago, 6 in Cleveland, Is in
Detroit, 3 in Los Angeles, 81 in New
York, 16 in Philadelphia and 16 per
cent In st. Louis.
The 81 per cent gain here in the
first five months of this year is also
a far better showing than that re-
ported In the eight other cities, the
review shows. The best five-month
gain by any Of these other cities was
in Los Angeles, where sales advanced
IS per cent. In St. Louis sales low
cred per cent.
IN HoYNIfoI
the IL months ended May 81 were "a
re- cent above the total amount OF
new business in the corresponding pc
Rod a year ago. During the same pc
Rod Maryland life insurance sales
moved up per cent, in Virginia IL
per cent, and in West Virginia Is per
cent. The average for the South At
lantic States revealed 10 per cent
upturn.
The report states that 10 per cent
of the companies doing business In
Washington during May did more
business than they did in May, 1884.
1t was this city's splendid gain that
kept the average for nearby territory
from making more unfavoraole rec
ord, With one or two exceptions the
life underwriters here have rarely
made as good showing. Hard work,
rapid business recovery and growing
interest in life insurance were the
chief reasons ascribed by agents to-
day for the surprising results.
Hardware Tops Wholesale Trade.
The wholesale demand for hard
ware in Washington and the rest
of the fifth Federal reserve district
led sales in groceries, dry goods, shoes
and drugs in May and the first five
months OF the present year, the Re-
serve Bank of Richmond reports in
o statement covering So firms. Hard
ware sales in May were up II per
cent over May, 1884; IL per cent
in May over April and los per cent
better in the first five months of
1885 than in 1884.
Grocery sales gained per cent in
May over last year, were 3.3 per cent
better than in April and SO per cent
in the first five months of 1885.
Drugs showed 2 per cent improve
ment In May over last year, gained
al per cent over April of this year
and were about / per cent better in
the five months.
The wholesale demand for dry
goods was not so favorable, sales
being 16 per cent lower than in May,
1884; ia per cent under the April
total sales and 1863 per cent of in
the five months. Shoes also made
poor showing, May sales being 26.8
per cent under last year, % per cent
below April and down "a per cent
so far this year, compared with the
first five months a year ago.
Stocks of groceries and hardware
were turned faster this year in May
and dry goods and shoes did not move
so fast. Stocks on hand were lower
than at the end of April. Collections
in May were fine, S4.5 per cent of
receivables due on groceries being
paid during the month, 40.1 per cent
on dry goods, TIC per cent on shoes,
48.6 per cent on hardware, and 68.3
per cent on drugs, the Richmond
bank reports. It is one of the best
collection records in many months.
Heard i'm Financial District.
City & Suburban SIS got all the at
tention In Saturday trading on the
Washington Stock Exchange. five con-
secutive 81 900 sales being recorded
at 81. These bonds have recently been
unusually active. The low for 1895
is 78% and the high 80. They closed
yesterday with s61a bid and SO asked.
Declaration of total of Sc in semi
annual dividends on issues OF the
Richmond, Fredericksburg & Potomac
r. r. was welcomed by the share
holders in this city. The three divi-
bends viii be paid on June 20 to
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