Evening star., 1937-10-04

VI Ollc VI lIlS ulItClOlS VI
the Life Insurance Sales Research Bu-
reau. of Hartford, and was one of the
outstanding speakers at the recent
underwriters national convention in
Denver. He was asked to speak here
on Social Security Through Life In
surance"
New Leader PreSides.
Paul H. Primm. who was elevated
TO the p esidency at the annual cleo
tion. presided for the first time today
The other new officers also took their
places at the head table.
The guest speaker, Mr. Arnold
made his address more or less his
torical. tracing the hope for social
security from the beginning of civ
ilization. He said the 50-year period
from 1879 to 1929 in the United
States saw the greatest accomplish
ment of social security obiectives in
the world history. He added:
Science, in the field of medicine.
IN industry. in agriculture. in inven-
tions and new ways of doing things.
has given our generation a better
grasp of social security than any
people have previously had. All these
advantages have now become a part
Of our iucational system Through
out this 50-year period the life in
surance institutions built up a system
of financing the future needs of men
and families 10 overcome the threat
of poverty
In conclusion. he stressed the value
Of life insurance savings as reser-
voir of purchasing power available
for use when most needed.
Bankers Form Speakers Unit.
President Thomas J. Groom of the
District Bankers Association has Or
ganized a speakers unit to represent
the association before schools. trade
boards. civic bodies and other groups.
announcing the following appoint
ments today.
Frederick P H. Siddons. secretary
American Security g. Trust Co., and
past president of the association
chairman; Hileary G. Hoskinson.
vice president of Riggs National and
first vice president of the bankers
association: Ord Preston, president,
Union Trust Co, and the associations
second vice president: A. NJ McLach-
len, treasurer. McLachlen Bank and
third vice president of the association;
Donald w. Larson. assistant secretary:
Robert V. Fleming, president. Riggs
National. Wilmer J. Waller. vice presi-
dent Hamilton National: Francis G.
Addison, jr president. Security Saw
ings g. Commercial; Sidney F. Talia-
ferro, vice president, Riggs National.
Norman E. Towson. assistant treas
urer. Washington Loan & Trust Co.:
w. T. Vandoren, vice president. Lib
erty National; Ralph Endicott. assist
ant treasurer. Washington Loan &
Trust Co.; John A. Reilly, president,
Second National, and l. J. Roberts,
assistant cashier, Riggs National.
The new unit will hold meeting at
the Chevy Chase Club this evening.
when complete plans for the year, in
cluding the subjects to be treated. will
be outlined. The new unit. through
Chairman Siddons will fill tn grow
ing demand for speakers on vital bank
Ing problems. Similar units organized
in other banking associations have
met with marked success.
Sales and Collections Rise.
Manufacturers sales showed a.
marked gain during August as COM
pared with August 1896, while the
rate OF collections on accounts receiv-
able decreased slightly according to
reports from manufacturers co-operat-
ing in the monthly joint study of the
National Association of Credit Men
and the Bureau of Foreign and Do
mestlc Commerce. The total net sales
OF 525 manufacturers throughout the
country registered an increase of al
most IA per cent from August, 1886.
Total sales increased in August.
1887, over the same month last wear
for all of the l3 industry groups shown
In the report except chemicals and
allied products, which recorded a de-
cline of about per cent. The in
creaSes ranged from 90 per cent for
machinery, not including transporta-
tion equipment, to about one-half of
one per cent for food and kindred
products.
Percentages of collections on ac-
counts receivable submitted bv $40
manufacturers for August, 1887, av-
eraged slightly less than for August
year ago and almost the same as for
July OF this year. During August this
year the manufacturers reporting COL
lected 1870 per cent of their accounts
rerp1Na h1n Y,ii,,n
the month as compared with 80 per
cent collected during August of last
year and 1875 per cent during July,
1897.
Business Volume Up Sharply.
Charles Delmar, president of Lin
coin Service Corp, Industrial Bankers,
Washington, with operating subsidia-
ries in the States of Maryland, Penn
sylvania, Virginia and West Virginia,
announces that the volume of business
done for the quarter ended September
80 increased 38 per cent over the
volume of business for the correspond
Ing period in 1886.
Washington Chapter, American In
etitute of Banking, will hold an oyster
roast and dance at Brooke Johns
Farm, Norbeck, Md, week from
Saturday George M. Rowzee, jr.,
Lincoln National, is chairman of the
committee, the other members includ-
Ing Donald Hollingsworth, James
Brun, Stephen o. Porter, William Of
futt, Ralph Mittendorf, George Gal
leher and Frederick A. Daum.
State chartered building and loan
association members of the Federal
Home Loan Bank Board increased new
mortgage loans 20 per cent in August
over the same month last year. Fed
eral savings and loan associations
show an increase of rs per cent in new
loans for the same perao5.