Evening star., 1936-11-23
INSURANCE SALES
SAME AS IN 1885
Capital Fails to Set New DC.
tober Record, but Tops
u. S. Average.
BY EDWARD C. STONE.

III
Research Bureau at Hartford re-
ported today. The Capital. however,
was ahead of the national average,
which showed per cent less insur-
ance written than a year ago.
Both Maryland and Virginia re-
ported gains of per cent in october
business over last year. South Caro-
lima made the best showing OF any
State in this territory, scoring a Is
per cent advance over October 1885.
West Virginia made l per cent
better record than year ago. North
Carolina was down per cent.
New business in Washington .otaled
$5,123,000 in October Maryland's
policies amounted to $7,51O,0OO, vir-
ginia wrote S6533,0OO, West Virginia
s4,168O00, North Carolina S6,426,00O
and South Carolina s2,765, 900. The
South Atlantic States, which also
takes in Delaware, Georgia and Flor
Ida wrote a total of S44, ,736,000 in
life policies in the month under re-
view.
In the first 10 months of this year
ington were l per cent better than in
1885. Insurance leaders here ascribe
the failure to enter new ground in
October to the conservatism of a
great many prospects who were
awaiting the outcome of the national
election before making any more
financial commitments of any kind.
November is expected to lift the
yearly average gain to considerably
more than / per cent.
Chicago, Detroit and Los Angeles
made better records than this city in
October but Boston, Cleveland, New
York, Philadelphia and st. Louis
failed to make nearly as good show
ing. In the list of States, Mississippi
stood at the top and Delaware at the
bottom, the Hartford report showed.
Building Costs Advancing.
It will cost more to build a home
next year than it did in 1886, but
these costs today are still below those
of the boom high, survey of 26 prin-
cipal cities made by the Mortgage
Bankers Association of America shows.
in these cities reveals that 73 per
cent expect higher general building
costs, II per cent anticipate increased
building material costs and 80 per
cent look for higher labor costs in
1887, according to George H. Patterson,
secretary-treasurer of the association.
Cities surveyed represented a geo.
graphical cross-section of the coun-
try. he said.
Results of the survey showed that
the average cost of building today is
sbout 1871 per cent lower than at
the all-time high. Costs are 16 per
cent lower in the Southern States,
i3 per cent lower in the Middle West,
IL per cent in the Far West and noun
tain States and 125 per cent lower
an the East. During the worst days
OF the depression the construction in
dustry was criticized by some who con-
tended that costs were too high and
hence held up new building. 1t would
seem from our survey that these costs
ere being brought more and more into
line with the other prices, or it may
be just the reverse, that is, that other
prices and income are moving into
line with building costs"
The survey also showed that build
Ing material costs average around 10
per cent lower than they did at the
high and labor costs around 9 per
cent. In both instances the greatest
drop was in the Southern States.
$10,00O,000 Issue Granted,
1t was announced this forenoon
that the Interstate Commerce Com
mission has authorized the Philadel-
phia, Baltimore & Washington Rail-
road Co. to issue S1O,OOO,00O of cap
ttal stock for delivery at par to the
Pennsylvania Railroad Co. in partial
reimbursement for advances made
by the latter carrier for capital pur-
poses.
All the banks in the city, the New
York Stock Exchange houses and
the Washington Stock Exchange will
be closed Thursday, Thanksgiving
day. The bond houses also will join
In the national holiday, making things
tery quiet in the financial district.
The Public Speaking Committee,
etitute of Banking, is sponsoring a
public speaking club for those hold
ing official positions in the chapter
end for past members of the chap
ter's public speaking classes. The
purpose OF the club is to afford an
opportunity for those who have at
tended public speaking classes to
continue their practice and training
In effective speaking.
The first meeting will be on We'd
hesday at 8 pm. in the chapter rooms
In the Bond Building. Wallace
6chreiner, chairman of the commit
tee, will lead the opening meeting and
various members of the club will take
charge on other nights.
Heard in Financial District,
Hllleary G. Hoskinson, one of the
vice presidents of the Riggs National
Bank, attended the Princeton-Dart-
mouth foot ball game Saturday. He
was accompanied by his son, who en-
tiers Dartmouth next Fall.
In addition to the two weeks paw
Tor employees who have been with the
firm longer than six months, Harri-
man d Keech will give a bonus of
one weeks pay to those who have
coined the staff since July 1, this year,
the washington office announces.
The United States Department of
Agriculture is sending an educational
exhibit to the International Live Stock
Exposition in Chicago, November % to
December S, designed to interest not
only stockmen and farmers, but the
other thousands who also attend this
exposition annually.
Transit Stock in Demand.
Capital Transit stock was in better
demand than usual on the Washington
Stock Exchange today, changing
hands at advancing prices
The market opened with 10 shares
selling at 14k. It then advanced to
d4A on a 10-share sale and moved up
to lax on four 10-share sales and q
E-share transfer.