Evening star., 1935-08-15
INSURANCE SALES
ABOVE YEAR AGO
New Life Policies in July
Reveal Increase, of 30.2
Per Cent.
BY EDWARD c. STONE.

spending month year ago. totalirg
S9O4 $4,000, an increase of $780,
900, or 302 per cent.
The report is announced by the
Association of Life Insurance Presi-
dents and comes from AZ companies
having SO per cent of the total life
insurance outstanding in all United
States legal reserve companies.
For the first seven months of this
year total new business written by
these AZ companies announced to S.
380, $40 900, compared with S5, ,l43, ,94e,-
900 in the corresponding period last
year, an increase of as per cent.
The figures for Washington alone
will be ready shortly. They will be
better than the national average gain,
as increases have been recorded in
practically all the previous months so
far in 1885. July will be no excep-
tion, forecasters say.
Middle West Farmers Happy.
Three weeks vacation touring and
visiting in the Middle West, especially
In the corn belt of Illinois and in In
diana. reveals the farmers in the most
prosperous condition in many years.
They are again able to pay their taxes,
meet interest due on mortgages and
have a little money left over to show
for their hard work While far from
being out of the woods financially, they
are going ahead instead. OF losing
ground.
High prices, of course. have brought
about the new day on the farms. The
price of hogs is big factor, although
the present soaring prices find many
farmers with few hogs to sell. or else
not ready for the market. Two years
ago every hog sold meant loss to
the owner as the prevailing low prices
did not pay for the feed. How dif-
ferent today!
Rust has been hurting the wheat
crop severely in some sections. but the
yield has been good and the price IA
vorable. Farmers are looking for
bumper corn crop and will get it pro-
vided there are no severe early frosts.
Wet weather made planting two or
three weeks late, but remarkable
progress has been scored during the
recent hot weather. which has been
accompanied with plenty of moisture.
In some sections of Illinois, Indiana
and Iowa the oat crop is dlsappolnt-
ing, the yield considerably lower than
expected. But the smaller crop may
boost the price enough to make up the
difference. At any rate no complaints
are heard among the farmers. After
years of uncertainty and financial
losses they can again see daylight.
incidentally this new prosperity on
the farms has national significance
as it is general economic axiom that
national good times are very depend
ent on good times in agriculture.
Bankers in the Middle West are
again making loans on farms. They
report constant improvement in their
business and expect it to continue.
Auto Financing Exceeds 1884.
Wholesale auto financing in June
amounted to s121673,704 compared
with Sl35,510,277 in May and S104.-
422,74l in June, 1884, as reported to
the Department of Commerce by ass
organizations.
Wholesale financing for the first six
months of 1885 was 744,192895, COM
pared with S556,646 006 in the CORE
spending period of 1884.
Retail financing of new cars in June
was s69,309,317. compared with s70,-
1855 in May and S70,900,335 in
June, 1884. Retail financing of used
cars in June amounted to S40.397,316,
compared with Sal, ,462,893 in May and
S3o,679 003 in June, 1884.
Mortgage Bankers to Meet.
Government VS.. Private Lending"
Is to be the theme of the convention
of the Mortgage Bankers Association
at French Lick, Ind, next October ga.
Not only leaders in the mortgage in
vestment and mortgage banking field
will be present to discuss this problem.
Leaders in public life, members of the
present administration and educators
OF renown will give their opinions.
- John L. McElfresh, general agent Of
the Connecticut Mutual Life Insurance
Co, has received word from the head
Office that a lost insurance benefi-
ciary has recently been found, policy
of long standing being paid to girl
in an institute for the blind. A search
to locate policy holder had been 60
ing on for some time. Extensive let
ter writing, personal investigation and
advertising finally disclosed the policy
holder had died. It was then found
that the beneficiary was the blind girl
who was called to the Chicago Office
and paid the money on the policy
which she had never known existed.
Business Trend Upward Here.
Washington is listed among 78
cities in the country experiencing an
upward business in the Alexander
Hamilton Institutes monthly review.
out today. The analysis fixes Wash
tngton's present trade volume index
at 1880, compared with year ago.
The report for the Capital is in
line with the recent gains in bank
clearings, department store trade,
POoldA ACbCipOSB C1CIIli ~ pOWCl
and building operations.
The analysis reported a downward
trend for the country in general, stat
ing. the current trade volume index
showed decline to 1927 from Ills
previously and the 1888 high of 1149
The number of cities experiencing ar
upward trend were also fewer than in
the previous month, 78 against 1922
Busy Day on d. c. Exchange.
Trading on the Washington STOCK
Exchange today was featured by q
turnover of 265 shares Of Capita
Transit stock. on 13 consecutive sales
all made at Is, off a full point from
yesterdays close Sales ranged from
6-share lots to 100 shares. The sell.
ing was said to be due to the recent
wage award which means further
drain on the company's income o.
from s55o,ooo to possibly 100000 {
year.
Washington Gas SIS, 1860, sold a
118, Potomac Electric Consolidated 81
came out at 103s4 in the bond division
Among other sales in the stock divi