Evening star. [volume] (Washington, D.C.) 1854-1972, 1936-02-21

s,,,,,od 49, .rosi Corcoran Thorn
dency of the trust company after Ions
years as the banks trust officer, dur.
ing which time he had made a re.
markedly fine record. He was also
one of the vice presidents. In eight
busy years at head of the banking in.
stitution, he has displayed the same
fiancial ability, already so vel
established.
Mr.. Thorn is one of the most active
men in the banking district. He has
always taken deep interest in civic
affairs and is constantly serving or
important committees where his
financial experience is needed ano
used to splendid advantage. One Of
the directors of the Washington Gas
Light Co., he is also connected with
other corporations.
In addition to his business connec-
lions, he is a member of the Columbia
Historical Society, Washington Board
of Trade. Metropolitan, Riding and
Hunt and Chevy Chase Country Clubs
Fond of the outdoors, he has spent
and the Canadian woods.
S56 Institute Reservations.
Reservations for the American In
stitute of Banking banquet at the
Willard tomorrow evening had reached
856 today and been closed. This
means the thirty-first annual dlnner
will see the largest attendance on
record, the former high mark be-
ing s18.
Frank M. Perley, chairman of the
Entertainment Committee, announced
today that Edwin c. Steffe, formerly
connected with the Federal-AmsrIcan
National Bank and at that time very
enthusiastic institute member, will be
master of ceremonies. He is a bril-
liant singer and is the young man who
is always compelled to sing ''Cld Man
River" at all bankers banquets. The
George Washington University Glee
Club and much other talent have been
provided.
George ]. Seay, governor of the
Federal Reserve Bank of Richmond.
will be among the guests. Others an
nounced today include F. G. Await,
deputy controller of the currency,
and I. I. Chorpening, chief bank ex-
aminer for this district, and Arthur
w. Mann, vice president of the Far
quier National Bank of Warrenton.
Insurance Gains Striking.
The Northwestern Mutual Fire ASso-
citation of Seattle reports through the
Washington Office that during 1885
the company paid total dividends to
policyholders in excess of 81 1000 900.
In the same year assets increased
100000 and surplus increased $685.
600. Since organization IS years ago
the company has paid to policyholders
almost S36.000,00G on fire losses
L. H. Bowen, manager of the local
Office of the United States Fidelity g.
Guaranty Co., Baltimore, reports a
1885 net premium income of $50, 1885,
621, an increase Of $558,338. During
the year surplus was increased by
S2,190,552. The premium reserve in
creased s8l9 500 to total of sl3 27o,-
148. Expenses were reduced.
According to Arthur w. Defenderfer,
Washington agent of the John Han
cock Mutual Life Insurance Co., the
seventy-third annual report showed
the highest gross income in 1885 in
the companys history. Assets rose 7
per cent to over $47,000000; surplus
increased more than per cent and
there was decrease in policies lapsed
and surrendered. Insurance in force
at the end of the year showed an in
crease of s119,181, 1888 over 1884, max
ing total of $3,593,148,522.
Official Addresses Agency.
Kennilworth H Nautilus, advertising
manager of the Connecticut Mutual
Life Insurance Co., addressed the
members of the John L. McElfresh
agency here today. He is touring the
Offices in this territory and spoke to
the insurance men here on the latest
developments in the business.
Mr.. McElfresh says that 1885 was
an excellent year for the Connecticut
Mutual Life insurance sales for the
year were S97, 900 600, and 1875 per cent
increase, and insurance in force in
creased for the first time since 1881,
reaching total of S914,0O0 900. As
sets for the year showed an increase
of over $22,000,000 and now stand at
$26S,000,000. In the six depression
years" since December 81, 1929, as
sets have increased over ST., 100000.
Financial District Gossip.
All the banks. investment houses
and brokerage Offices in Washington
will be quiet tomorrow. Washingtons
birthday anniversary. The Washing
ton Stock Exchange will also be
closed.
William Camp acting secretary of
the District of Columbia Building and
Loan League, looks for a record at
tendance at the annual dinner next
Thursday at the Mayflower Hotel. He
expects more than 400 members and
guests, including many Government
officials from such organizations as
the Home Owners Loan Corp, and
the Federal Home Loan Bank Board,
Sales Of the American Stores Co.
in January totaled $10,193, 697, a drop
of 4 per cent from January, 1885.
Sales for December, 1885, showed an
increase Of So per cent in COMPARE
son with December, 1884.
Exchange Trading Light.
Potomac Electric Power So per cent
preferred stock sold at 1929 on the
Washington Stock Exchange today,
while Washington Railway Electric
preferred moved at no. Other issues
were quiet. pending the approaching
holiday, or double holiday, including
Sunday.
The Federal Deposit Insurance Corp.
reports that 14,206 banks are now car
rying insurance with the system.
Thomas H. McInnerney, president
of the National Dairy Products Corp,
reports that 1885 earnings were around
$l.40 share, against SO cents in 1884.
Public Service Corp. OF New Jersey
Common share aarni,aos - y,.orftae