Evening star., 1936-08-12
ACACIA BUILDING
TO Be DEDICATED
Outstanding D. c. Institution
Has 1858, 500, 900 of In.
Surance in Force.
BY HAROLD b. ROGERS.

With total assets of $63, 500 900 and
with 1888, 500 900 insurance in force,
Acacia Mutual Life Insurance Co., an
outstanding financial institution OF
the National Capital, will dedicate its
new home tonight at 81 Louisiana
avenue, facing the Capitol grounds.
Acacia, on whose Board of Direc-
tors are several financial figures Of
this city, was chartered by act OF
Congress 1869 and has enjoyed a
steady growth since.
Rejecting not only its own substan-
tial business. but general improve
ment in the economic position of the
country, the company's figures show
that during the first six months OF
this year there was 81 per cent re-
duction in the number of leans on
life insurance policies and a 16 per
cent decrease in the amount of such
policy loans. Also there was 27
per cent increase in what the COM
pany calls its conservation rate" in
dicating fewer lapsed policies.
Indicating the scope of this COM
pany's participation in local affairs,
the mortgage loans Of Acacia as OF
June 80. in the District of Columbia
and environs had increased to 1000
IN number and more than $l5,000,000
IN amount.
Old Building Sold.
The company built its beautiful new
home because its old one at 1Ol In
diana avenue was bought by the
Home Owners Loan Corp. Since
this purchase about two years ago.
the Acacia has been scattered tenn
porarily throughout four buildings in
the city, with headquarters at 1437 K
street. Now the 400 officers and en-
ployes are established in their new
home, ready for the dedication
tonight. About 400 selected rep
resentatives of the company'S field
force of 1000, including $50 members
of the William Montgomery Quality
Club, the honor organization of the
company, are in the city for the
ceremonies. Functions continue
through three or four days.
The building will be dedicated by
J. Balch Moor, District insurance su-
perintendent, and will be accepted on
behalf of Acacia by President William
Montgomery of the company. Other
officials of the company include Vice
President Howard W. Kacy, Secretary
S. E. Mooers, Treasurer D. F. Roberts,
Medical Director DR.. J. B. Nichols
and Actuary L. K. Crippen.
Store Sales Jump.
Eight department stores in Wash
tngton showed gain Of 17.3 per cent
in July sales over July, 1885. it was
announced today by the Federal Re-
serve Bank of Richmond. July, 1885,
had been a gain of 269 over July,
1894.
The Washington showing was ahead
of the average July sales gain OF Is
per cent for the fifth Federal Reserve
District. and ahead also of the IA
per cent gain for the country as a
whole.
For the seven months period, jan
uary to July 81, 1886. the eight
washington stores showed gain OF
l3.1 per cent over the similar period
of 1885, while the 1885 seven months
had been 1877 per cent ahead OF the
similar period of 1884. This places
washington ahead also of the fifth
district gain of 10 per cent for the
seven months this year as compared
to the seven months of 1885 and ahead
of the IL per cent gain OF SIG report
ing stores throughout the United
States for 1885.
The State of Virginia, with 13 stores
reporting, showed d gain of 15.7 per
cent in July as compared to July,
1885, which in turn was lis per cent
ahead of July, 1884. For the first
seven months of 1886 Virginia stores
were 81 per cent ahead of the SINH
lar period in 1885, which in turn was
81 per cent ahead of 1884.
Watson Hits Tariffs.
Thomas j. Watson, president Of
International Business Machines Corp,
which has Offices here, has just re-
turned to the United States from
Europe with the statement that the
rapid increase in Europe's utilization
of machines of all kinds is playing
an important part in improving con-
ditions and living standards.
ITO safeguard the prosperity and
welfare of Europe and the whole
world" he said, 1T is vitality neces-
sary that the peoples of the world
cooperate to adjust barriers against
the free exchange of goods across
national borders so that the sur
pluses of commodities which exist in
come areas can flow to points of
consumption where there are no
shortages"
Phillips Packing Co., Inc, of Cam
bridge, Md, which now has 16
plants, is referred to as one of the
examples of what newspaper adver-
tising will do in building product
prestige, in an advertisement in cur
rent Editor and Publisher prepared
by Is national advertising organiza-
tions, representing hundreds of metro
politan newspapers.
Joseph r. Fitzpatrick, assistant
cashier Of Second National Bank, Is
~, varation in Connecticut