Evening star., 1935-10-19
INSURANCE SALES
CLIMB IN CAPITAL
Nine-Month Tota! Rises 2S
Per Cent Above Mark
for Year Ago.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Life insurance sales in Washing
ton in September bounded upward
81 per cent over the corresponding
month last year, bringing the total for
the first nine months of this year 20
per cent above the same period a
year ago, reports from Hartford,
Conn, stated today.
The energetic Washington agents
made better record than their CO.
workers in any of the nearby States.
North Carolina business was up Is
per cent over Septembre, 1884; Vir-
ginia gained 8 per cent, Maryland
added per cent in new insurance,
the same as the national average
pickup, while South Carolina re-
ported an advance of 3 per cent.
West Virginia, however was of per
cent on total sales.
New business in the Capital in Sep
tember totaled $4,439 900. in Mary
land $5,880,000, in Virginia $685.
900. in West Virginia $3,777,000, North
Carolina S6,425,00O and South Caro-
lima S2,302 900. In Washington So per
cent of the leading companies re-
ported improvement over last year.
Only four States stood higher tnan
this city in the national list, which
was headed by South Dakota with a
46 per cent gain, improved farm in
come being the reason ascribed for
the upturn. North Dakota came next
with a IS per cent rise
In the September report covering
large cities, Los Angeles came the
nearest to Washington, noting a 20
per cent gain. With the exception
OF Clevelands l3 per cent advance,
all the other big cities were under
10 per cent in their gains. The same
is true of their business for the first
nine months. The figures for WASH
ington for September and for the first
nine months of the year supply fur
ther evidence that so far as the Capt.
tai is concerned the depression is
over and has been for some time.
A. B. A. to Discuss Laws.
Discussions of the effects of new
Government laws and policies on vari-
Gus classes of banking institutions
will play a prominent part in the di-
vision and section meetings at the
American Bankers Association con-
Vention in New Orleans, it is shown
in the programs of these sessions A
series of special meetings under the
title of Constructive Customer Re-
lations Clinic" in which a number of
present-day bank operating prob
lens will be taken up, will also be
feature of the convention
At the savings division meetings one
of the speakers will be Dr. A. H. Gian-
mini of Los Angeles. Philip A. Ben
son, president Dime Savings Bank,
Brooklyn, and w. Espey Albig, deputy
manager of the A. B. A., also will
speak.
The State bank division will hear,
among others, ]. Harvie Wilkinson, jr,
vice president State-Planters State
Bank g. Trust Co. OF Richmond. Be-
fore the trust section Donald RAN
som, chairman of the A. B. A. Com
mittee on Federal Legislation. of At
lanta, will speak on Federal Legis-
1ation as It Affects Trusts"
Senator Carter Glass will speak on
Banking legislation" Maj. Angas
is to discuss Crucial Economic Prob
lems," while Chairman Jesse H. Jones
Of the r. F. c. will talk on Rail
roads"
The banking situation has improved
so much during the last year that a
very large attendance is already as
sured. On accountof the Mardi Gras,
New Orleans is accustomed to taking
care Of big gatherings in most hos
pitable manner. Residents call New
Orleans the most interesting city in
America. At any rate, it is the Sec
ond largest port, its water front be-
ing only one of host of points of
special interest.
Why Gold Pours Into U. S.
Why does gold continue to pour
into the United States when the
Treasury already holds nearly half of
all the monetary gold in the world?
The magazine Sphere gives this an
swer:
"One answer is that the dollar is
greatly undervalued in the exchanges,
which means that it is good bargain
to acquire dollars with sterling, or lire,
or marks, or almost any other cur
rency. Another is that Mussolini
directly, and Hitler indirectly, took
control of all good paper assets of their
nationals, which has frightened cap
ital. What happens in one country
people fear may happen in another.
Europe, correctly or incorrectly,
feels that the greatest extravagances
of the New Deal are behind it, and
that the credit imitation which has
already occurred provides a good op-
portunity for speculation in American
commodities and equities
Two other important reasons, Of
course, are the facts that foreign
capital Is being invested here in large
amounts and that a good deal of this
gold is used in the payment of goods
bought in this country.
Heard in Financial District.
Charles K. West, manager Of the K
Street Branch of the Security Savings
g. Commercial Bank, rarely misses
q meeting Of the District Bankers
Association. Late last week he was
informed by an official in the Security
Savings g. Commercial main office
that the associations Fall meeting
would be Monday night. On Mon
day evening Mr.. West arrived at the
Willard Hotel and went to the asso-
cations usual meeting place wnere
he found a record attendance of
bankers. It developed, however, that
1t was the Riggs Bank educational
rally. Cordially urged to remain. ne
decided that he would await the
Bankers Association meeting, which
is next Monday night
The Federal Reserve Bank Of Rich
mond announces the recent appoint
ment Of John s. Walden, jr., as
deputy governor of the bank, succeed
ing Charles A. Peple. who has held the