Evening star., 1935-09-21
INSURANCE TOTAL
EST|LL SCARS HERE
Volume of Life Policies Goes
! 81 Per Cent Above Mark
T of Year Ago.
By EDWARD C. STONE.


Another astonishing advance-S7
Der cent-in new life insurance writ
ten In Washington in August, COM
pared with the same month last year,
was reported today from Hartford.
Conn.
This was O better record, with two
exceptions, than scored by any Of the
4S States. The national average was
down per cent in August compared
with August q year ago, or 43 per
cent under the Washington figure.
Only North Dakota and Arizona
were above Washington in the list.
In the adjacent territory in the fifth
Federal Reserve District, South Caro-
lima reported an increase in business
of 19 per cent. Maryland experienced
o decrease of s per cent, Virginia Is
per cent, West Virginia, Is per cent,
while North Carolina was down 16
per cent.
The same survey from Hartford
compares business for the first eight
months Of 1895 with 1894, new insur-
ance in the Capital being up 80 per
cent. In this period Virginia is 2
per cent ahead Of last year, West
Virginia / per cent. South Carolina
2 per cent. Business was just the
same as last year in North Carolina
and 5 per cent lower in Maryland.
Sales Here Total $5,O42,OOo.
Washington agents wrote $5,042,O00
new policies in August, Maryland
totaled $6,731 900; Virginia, $685.
600: West Virginia. $5,741,0O0; North
Carolina, $5.153, 600, and South Caro-
lima, $2,609,000I In the Capital, SO
per cent of the companies reported
better business than q year ago.
The District of Columbia also made
o notable record compared with the
largest cities in the country. The
percentage gain here was far ahead
of Boston, Chicago, Cleveland, De-
troit, Los Angeles, New York, Phila-
delphia and st. Louis. Among these
eight cities, Los Angeles made the
best showing, 10 per cent above
August, 1894.
The per cent drop in August for
the United States average brought
the record down to per cent lower
than last year in the first eight
months. It appears that sales in the
full IL months OF 1885 will run about
the same as in 1894. Sales here, how
ever, are likely to run 30 per cent
ahead of 1884 when the old year
rings out.
Few Banks Drop Insurance.
Records regarding Withdrawals
from membership in the Federal
Deposit Insurance Corp. are of spe-
cial interest at this time.
The Deposit Insurance Corp. orig
finally set at per cent the extent
of State non-bank Withdrawals from
the insurance system under authority
granted In the banking act of 1895
which permits a State non-membel
bank to withdraw by September %
Originally, 1t was believed that such
Withdrawals would not exceed rs out
Of a total Of 1900 banks. Now the
officials state that the total will not
exceed so. Up to date the F. D. I. G.
has received 81 applications from
State non-member banks wishing tx
withdraw.
Comparing the number Of with.
drawals with applications for mem.
bership the r. D. I. c. finds that the
latter are running well ahead. Since
the first Of June, so new banks have
been admitted to the insurance fund
while the total Of Withdrawals is 81
In addition, applications for men,
bership which have not been acted
upon total 25.
How Steel Stock Is Owned.
OF the nearly half million men and
women who own the steel industry of
this country, 64 per cent own less than
20 shares each, while nearly SO per
cent hold less than 100 shares each,
The American Iron and Steel Insti-
tute reports.
Thtrty-three companies with &c.
100000 shares outstanding are owned
by total of 470, ,464 stockholders, OF
whom LOOP are individual share
holders who own from / to 20 shares
OF stock apiece. In the group owning
more than 100 shares are included
many blocks of shares held by in
surance companies, investment trusts,
stock brokers and such other large
purchasers of corporate securities for
the benefit of their own individual
EuStomers or stockholders.
Men outnumber women as steel
stockholders, the survey disclosing
that SOS per cent Of the stockholders
. Rre men, while 40.5 per cent are
women. Approximately one out of
every three employees of the steel in
duStry shares in the ownership of the
eompany for which he works.
Capital Market More Active.
Since Labor day business on the
Washington Stock Exchange has
shown good Fall volume with most
prices remaining firm.
More interest has been manifested
In Capital Transit stock than for some
weeks. In moving up to 1914 the
stock has also shown more strength.
The August financial report will be
cut around September Is and is ex-
pected TO reveal further excellent
earnings.
Both Mergenthaler Linotype and
Ianston Monotype figured In the trad
ing during the week. Potomac Elec-
Eric Power preferred stocks continue
20 be leaders on the list Bank stocks
have recently appeared much more
frequently on the board.
Bonds have remained firm and held
onto their high prices in the Septem-
ber sessions. Members of the exchange
say they still have more orders than
they can I'LL at the prices offered, at
least for certain issues.