Evening star., 1936-02-19

"a
Is a temporary
edition, Chair 81
man Batchelder Nv = R.t.hs,S.r
reports, a more
complete 1886 membership list to
appear in April. In the meantime
there may be few more new mem
bers added, although the campaign
has oficially ended. The Washington
association now has total OF 263
members, made up of the leading
life insurance men in the Capital.
Chairman Batchelder, who is man
eger of the Washington office of the
Connecticut General Life Insurance
Co., and his associates were surprised
by their success during the member
ship drive. 1t was thought the
territory already had been combed
so thoroughly for new members that
no striking results would be obtain
able. The older members were con-
siderably shocked by the addition OF
l06 new names.
The association is affiliated with
the national association, which was
founded 46 years ago. in 1890. Ihe
president this year is j. E. McCombs,
with Lawrence H. Riggles, first vice
president; Earle W. Sapp, second vice
president; Joseph A. Barbeau, secre-
tary, and Charles w. O'Donnell,
treasurer.
Life insurance men here were sur
prised by the January report on new
business for the whole Nation, in
which a drop of II per cent under
January. 1885 was revealed. They
believe the Washington report, due
shortly, will show up to much better
advantage. It has overshadowed the
rest of the country in other recent
months.
Utility Earnings Doing Well.
In commenting on the T. v. A. deci-
sion, Rhoades & Co. makes these oo-
servations:
LAS far as the public utility picture
as a whole is concerned there appears
little cause for apprehension. Elec-
trio power output is currently run
nins at record proportions with the
prospect of an acceleration IN the pace
as the heavy industries get into VOL
1,ne production. Despite higher costs
and reduced rates, earnings Tor 1850
indicate that income available Tor nxeo
charges increased, on average, signify
more than 3 per cent over 1884 t1g-
ures. However, since most companies
only began to record improvement in
earnings during the latter half OF
1885. the full-year performance does
not present an accurate picture OF the
betterment that actually has taken
place, and 1886 for this industry prom
tses to surpass substantially lS35s
record.
THE court carefully excluded every
thing from the scope of its decision
that had no direct bearing on the
power contracts between the Govern
ment and the complainant, Alabama
Power Co. In so doing it excluded
wholly from its consideration any and
all matters bearing upon the legality
of direct Government competition
with private enterprise in the pro-
duction and sale of power, the nub
of the controversy between the T. V. A.
and the companies.
"Its ruling upheld the right of
government to sell surplus power aris-
ing from undertakings which had not
as their primary purpose the genera
ton of power for sale. In the case
at issue it was noted that the Wilson
Dam was tremendous wartime prof.
,ryhn
develop new sources for materials es-
sential to the manufacture of explo-
sives; that electric energy was pre-
requisite to the operation of the plant;
that the presence of surplus of pow
er over the needs of the project is in
cidental to the purpose OF the under
taking, and that therefore it were un-
reasonable not to permit the sale Of
this excess"
National Life Reports Gains.
Theodore w. Cook, general agent
In Washington, reports an increase in
new insurance paid for in 1885 of over
20 per cent of that in 1884 by the
National Life Insurance Co. of Mont
pelier, VT. Insurance premiums paid
are S1,031 ,820 in excess of the 1884
figure. The gain in assets was s20,-
194,098
The lowest mortality rate since
1929 was experienced by the company
in 1885, being 56.37 per cent of the
expected. This low mortality has
permitted an increase of dividends to
policyholders. Dividends assigned for
1886 distribution are in excess of $3,-
100000.
Banquet Attendance Over 500.
1t was announced today that the
attendance at the annual banquet of
Washington Chapter, American Insti-
tute of Banking, at the Willard Satur-
day night, will pass the 800 mark.
This means the largest turnout the
chapter ever had and includes many
special guests.
The special guests of honor will be
Robert v. Fleming, president of the
American Bankers Association, and
Maynard w. E. Park, national presi-
dent of the American Institute of
Banking. Chapter President j. Earle
&ANoCdAy WALL PACo4NC, O ASNSP1AoAA WAL
precede the dinner, the entertainment
will be In charge Of Frank NJ Perley
and the program will end with dane
ing.
Today's Trading on Exchange.
Capital Transit sold up to IA on
the Washington Stock Exchange to-
day, Potomac Power per cent pre-
ferred moved at 100 and 1091a Capt.
tai Traction bonds figured in four
$1,000 sales at s0A.
American Security g. Trust Co. stock,
which has been one Of the most in
teresting bank stocks on the board SO
far this year, selling recently as high
as 248, was quiet today. 1t closed with
245 bid and 255 asked. The final bid
on Mergenthaler Linotype was Al, with
40 asked.
The Fiduciaries Section of the Dis
tricf RankerS' Association will hold its