Evening star., 1936-07-23
S13,6DQ,0OO IS PAID
HERE IN INSURANCE
City Ranks High in Life
Benefits Distributed in
1885, Survey Reveals.
Ry EDWARD C. STONE.

f1CldrleS IN 1890 VOIdicu S1o,ooo,Voo,
or $4,000 a day, according to spe-
cial compilation by the National Un-
derwriter, insurance weekly. This
large sum represents an average pay
ment of s27.35 for each citizen and is
more than half the w. P. A. expend-
itures in the District during the same
year. The payments were so cents
per capita smaller than in 1884.
Washington ranked fifteenth among
all the cities in the United States and
thirty-seventh in life insurance pay
ments in list comparing the differ
ent States. The largest individual life
insurance death payment in the Capt.
tai last year was S70,500. Another was
for $4,000, while several others were
for $50 900 or more, the survey states.
Policyholders and beneficiaries in
the United States and Canada were
paid 08,653,202 in life insurance
in 1885. Because of the decided i'm
provement in business and general
economic conditions there was less
demand for cash surrender values on
policies in 1885, the review says.
Cities Leading in Payments.
There were lat cities that received
life insurance payments amounting to
81 600 600 or more in 1885. Twenty
one cities were over the Sl0,000,OUO
mark. The cities were led in payment
bv New York with S146,070,0o0, a
gain of half million. Chicago
ranked second with $97,890,000, which
is $4,000 more than the previous
wear Brooklyn was third with $32.-
645 1000, followed by Philadelphia with
s31 ,5e5 ,0c0.
pittsburgh was in fifth place with
s2so53, 900. Los Angeles went ahead
of Detroit with $26,388,00O, while the
latter had s24,716, 900. st. Louis with
s23156. 900 and Cleveland with $2O,-
a84 1000 were the others in the 0,OO0,-
600 class.
Boston payments totaled sl7.5s7 ,ooo'
baltimore s15,4O6, 900, Cincinnati
s15.3s4 900, San Francisco s15,3o4,ooo'
the report adds. .
First place among the States in life
payments in 1885 went to New YORK
which had a total of S5l7 900, 600.
PENNSYLVANIA was second with S297.-
600 900. followed by Illinois with $685.
100000.
Rhode Island Tops List.
Rhode Island had highest per cap
ita pavment, with $4,000. New York
was second. with $3.50, followed by
Connecticut, with 1855. and New
Jersey with $3.50. Massachusetts,
with S32.3O ranked fifth. Pennsyl-
yania came next with 5000. Illinois,
s2e.e5. Oregon, 5000; District OF
Columbia, S27.35, and Delaware was
tenth with S2725.
New Mexico had the lowest per cap
ita payment with S640, followed by
Mississippi with S6.65.
The largest individual life nsur-
ance payment in 1885 was on the life
of Benjamin Bensinger. Chicago, who
had policies totaling s2,500,o00. Mr..
Bensinger was formerly president OF
the Brunswick Bake -Collender Co.
Calvert B. Cottrell of Westerly. r. L.,
had the second largest amount with
s1,020,O00. He was the president OF
the C. B. Cottrell Sons Co., printing
press manufacturers.
Will Rogers, noted actor and hum
orist, who died in tragic plane
crash, had s582, 500 in life insurance.
Large Payments TO Women.
There were several large payments
10 women in 1885, the s500,000 left
by Mrs. Annie G. Phillips being the
largest. She was the widow of Isaac
L. Phillips, mems wear manufacturer
in New York.
1t was estimated in survey by the
Life Advertisers Association that $685.
100000 was paid out by life companies
in death claims directly attributable
to automobile accidents in 1885. This
figure covers death losses only and
does not include millions paid for dis
ability and under automobile liability
contracts.
It is estimated that approximately
$80000,000 on $4,000 lives was paid
out last year by insurance companies
for deaths under group life contracts.
In addition several million was paid
to retired employees under the group
insurance pension plans, the survey
concludes.
Heard in Financial District.
6. Bowie Chapman, manager of the
Washington Office of Laidlaw & Co.,
left Washington yesterday for New
York, where he sailed today on the
Europa for a two-month visit in
Europe. He will pass the first part
of his visit in Germany.
The ruling of the commissioner of
internal revenue that national banks
are exempt from the tax provisions
of the Federal social security act has
caused much rejoicing among ma
tional bank officials here.
The Securities and Exchange Com
mission has announced the filing of
IL additional registration statements
under the securities act The total
involved is 1,773, ,583.94, of which
$16,862,8 1890 represents new issues.
Bank Women Plan Outing.
The regular monthly meeting of the
Bank Women's Club of Washington
will be held next Saturday afternoon
Severn, Nd. at the Summer home
of Mrs. Constance Fogle Jones,
Riggs National Bank, who is prAident
of the club. Included in the after
noon program will be swimming, boat
ing and grabbing. A picnic supper
will be served and about 80 members
are expected to be present.
Capital Transit at New Top.
Capital Transit reached new high
mark for 1896 and longer on the WASH
ington Stock Exchange today when it
sold at TN. Only one sale was re-
corded, f1ve-share lot The market
closed with II bid and 17A asked.
Business was quiet on the exchange
today, shares of Potomac Electric
Power per cent preferred moving at
1111a and 10 shares of the same cor
poration's 512 per cent preferred
changing hands at the exact same
price.
Bank CIearings Climb.
l. =.