Evening star., 1935-11-25

titled public ac-
countant in New York. His first busi-
ness connection was with the Phenix
Insurance Co. in Brooklyn, and he has
since been employed by the Mutual
Lite Insurance Co. of New York. and
Realty Associates of Brooklyn. With
the Dime Savings Bank of Brooklyn
Mr.. Benson has been assistant secre-
tary, secretary, treasurer and, finally,
president.
Mr.. Benson is trustee of the Title
Guarantee & Trust Co., member
Advisory Board Chemical Bank &
Trust Co.. director Commonwealth
Insurance Co. of New York, and di-
rector and member of Finance Com
mittee Guardian Life Insurance Co.
of America. He is chairman Of the
Banking and Investment Division OF
the American Red Cross and MEM
ber of the Executive and Budget Com
mittees Of that organization. He Is a
vice president of the Brooklyn Cham
Der of Commerce, and also of the
Downtown Brooklyn Association. He
Is a member of the Mayors Airport
Committee and the Committee for the
World Fair in New York State.
Besides his activities in the Ameri-
can Bankers Association, wherein he
has been vice president of the Savings
Division during the past year. Mr..
Benson has been active in other or
ganizations. He has served as presl-
! dent of the Railroad Security Owners
Association; member OF the Executive
Committee. National Association OF
Mutual Savings Banks; member COM
mission to study banking structure of
New York State Bankers Association;
director, Savings Banks Trust Co.. and
of Institutional Securities Corp. and
a member of the Savings Banks Asso-
ciation of the State of New York
Mr., Benson is married and has four
children, is a Republican, belongs to
the Bankers, Montauk, Sea Cliff
Yacht and Economic Clubs, all OF
New York. He is also trustee OF the
Citizens Budget Commission, and OF
the Long Island College of Medicine,
director of Adelphi Academy, Stony
Brook Assembly and Brooklyn Insti-
tute of Arts and Sciences, member
BROOKLYN Better Housing Committee
and Advisory Committee of the State
of New York Insurance Department.
Analysis of Investments.
The Treasury today made public an
ANALYSIS of the assets and liabilities OF
corporations submitting balance sheets
in 1888, in connection with their in
come tax returns.
Investments were 31.3 per cent OF
total assets in 1888. exactly the same
proportion as in 1882. But tax-exempt
investments constituted l6.l per cent
of total investments in 1888, compared
with 1875 per cent in 1882. Cash n
relation to total assets, like invest
nents, showed no change over the
1882 figure, remaining at ST. per cent.
Balance sheets. as of December 81,
1888. or at the close of the fiscal year
nearest that date, were submitted by
3sS,564 corporations. Total assets OF
these corporaticus amounted to $685.
206,000,000. The number OF corpora
tions showing net income was l00,94l.
Their total assets amounted 10
$9O,12s, 100000. In 1882, balance
sheets were submitted by 392,021 cor
porations with total assets of $780,
OS3 3.O00,0 900. OF these corporations,
1921. with total assets Of sS4,073,-
o00,000 showed net income.
Fewer Statements Filed.
A decline in the filing Of new Sc
curity issues by power companies has
accompanied the approach Of the De-
cember ] deadline for registration OF
holding units under the utilities act,
the Associated Press says.
The lull follows the biggest rush OF
utility refunding on record, resulting
in the registration of about Sl,000,-
100000 from that quarter alone this
year.
The corporate refnancing move
nent which started early in the year
has been led by utilities. Fourteen
power issues, ranging from 10000, 900
to 10000, 900, ran up total of more
than s6oo,0o0,o0O.
In October, according to records OF
the Securities Commission, utility
issues released for sale totaled $163,-
100000, about 40 per cent Of the total.
The rush continued into this month,
then subsidized.
Rapid Transit Net Higher.
Washington Rapid Transit Co.
showed an increase in net income
for both the month of october and
for the year to date, as compared
with the same periods last year, ac-
70 Nf he
company filed with the Public Utili-
ties Commission.
Net income jumped from $1.346 90
in October 1884 to s3.e47 in October
1895, gain of $4,000 10. Net income
increased from $6,4S6.69 for the 1884
year to date, to $33,543.57 for the
1888 year to date, an increase of
s27.o56.ss.
Operating revenues showed a cor
responding increase, from $36,283.96
in October 1884, to SAL, ,071.84 in
october 1895; and from $336,065.35
IN the 1884 year to date, to $375,131.97
for the 1885 year to date.
Operating income showed a gain
In October, from $3,391.31 to $5,704.65,
while operating expenses and taxes
also increased in October, from $32,-
es2.65 to $35,367.19.
Insurance Officials Here.
The John L. McElfresh Agency,
Washington representative for the
Connecticut Mutual Life Insurance
Co., was visited today by Vincent 3.
Coffin, superintendent of agencies, and
Fred o. Lyter, assistant superintend-
ent of agencies. They reported that
the company is 13 per cent ahead in
life insurance sales for the year and
48 per cent in annuity sales.
Among group of seven agencies
which are in contest extending over
the last six months of the year, the
Washington agency is receiving con-
gratulations for having won the trophy
In october.
Congratulations are being extended
: to Roger M. Stuart for ranking fourth