Evening star., 1936-08-13

''''''' '''''> - trust" during
"m' "oh'k''' dedication The
per capita average in this country, he
said was about $500; in Canada,
$500; in the United Kingdom, about
$3.50, and the rest of the world, $40.
The building was dedicated by J.
Balch Moor. superintendent Of in
surance of the District, who traced
the development of life insur-
ance, and praised Acacia as lone
of the foremost institutions IN the
land" standing with "the leading life
insurance companies of this country"
Paying tribute to President Mont
gomery, Moor said "the people of
Washington are indeed proud Of you
and your leadership"
500, ,OOO, 100000 in Force.
Stressing the extent of insurance
Moor said there is more than $780,
900 100000 worth of insurance in
force, with $26 5000 000,00 cash value,
more than twice the amount OF all
deposits in savings banks, and ex-
ceeding the value of all the railroads
and steamship lines in the country.
He estimated 63,OOO,000 Americans
owned life insurance, while the other
half of the population depended
largely on its protection.
President Montgomery defended
government of laws, not of men,"
and stressed the soundness of life
insurance, which, he said, had stood
like rock" during depression. when
other institutions were cracking"
all around it. He drew applause with
the declaration that wider diStri-
button of capital" might have pre-
vented the depression and kept our
factories and mills going" Life in
surance. he said, sis not an accumu-
1ator of wealth-it is a distributor.
1t Is the greatest cooperative system
in the world
Describing the building as located
facing the Capitol grounds air condi-
toned and sound-proof throughout,
with 12-feet-high ceilings, large WIN
dows and adequate parking facilities,
Montgomery said: The big thing is
the erection of the building" He said
. the land had been purchased many
years ago when values were much
lower, and that the company owned
an entire block to allow for future
expansion.
Fluctuations Are Paid.
Felicitations were paid to President
Montgomery and to the company by
many distinguished guests, including
President Melvin C. Hazen of the
District of Columbia Board of Com
missioners; Major Ernest w. Brown,
superintendent of police, whose Boys
Club Band serenaded the company;
Superintendent of Insurance Moor;
visiting insurance officials and
others. President Montgomery intro
duced many guests, including the
architects and builders Of the new
home office. Among those introduced
was William Pirie, SO years of age, of
this city, who is the Oldest policy
holder. He is actively engaged with
his sons in the Washington Granite
Monumental Co., 448 New York
avenue.
President Montgomery was presented
with a scroll signed by employees,
pledging earnest and faithful work,
all our energy. all our capacity, all
our loyalty" In response, Montgom-
cry expressed appreciation, saying:
you've stirred the depths of my
heart"
The ceremonies were colorful, taking
place on the front steps of the build
Sy,r rryif1 1,o
Louisiana avenue, which had been
closed for the occasion. j. Claude
KEEPER, member of the Board of
Directors, presided. Invocation was
by DR.. Bernard Braskamp, of Gunton
Temple Memorial Presbyterian Church;
the dedicatory prayer by DR.. Thomas
e. Green of the American Red Cross.
The Acacia Employees Glee Club, under
direction of Harlan Randall, sang, and
there were selections by Phil Lampkin
and his concert orchestra. After the
dedication, the building was inspected
by invited guests. The exterior flood
lighting was turned on during the
dedication, drawing eXclamations of
surprise from the audience.
President Montgomery has been the
companys directing head for more
than AZ years, during which time the
greater part of Acacia's remarkable
progress has been made.
Vast Growth Disclosed.
When President Montgomery en-
tered Acacia's employ, in 1893, the
company's home Office consisted of
two tiny rooms over hat store on
Eleventh street. It's activities were
those of a purely local insurance
society. Acacia today is an old-line
company with assets of more than
$63,500,000; and its insurance in force
is more than $3.50, 900.
The board of directors is composed
of the following well-known executives:
Charles E. Baldwin. Harry Blake,
Charles Cyrus Coombs, William K.
Cowden, Paul B. Cromelin, j. Harry
Cunningham, L. whiting Estes. Robert
v. Fleming, E. c, Graham, Joseph H.
Hines, Thomas E. FARRELL, Howard w.
Kacy, J. Claude KEEPER, Arthur D.
Marks, John T. Meany, Joseph H.
Milans, william Montgomery, Edward |
J. Murphy, DR.. John B. Nichols, H. L.
Rust. jr, L. P. Steuart, Frank J.
Stryker, Eugene E. Thompson, E. Lee |
Trinkle and Lloyd B. Wilson.
Fifty-one employees of the National |
Metropolitan Bank rendered a testi-
monial dinner to Charles E. Bright, |
who has retired as assistant cashier of |
the bank and manager of the Wash
ington Clearing House Association, at
the Mayflower Hotel Tuesday night.
Mr.. Bright was praised by President
George w. White of the bank, his
brother. George Bright of the bank,
who presided, and many others.
NEW YORK BAR SILVER.
NEW YORK, August 13 R.-Bar |