Evening star., 1937-02-24
BUSINESS HOLDS
TO UPWARD TREND
U. S. Chamber Finds Trade
Momentum Has Offset
Many Obstacles.
BY EDWARD c. STONE.

records covering the first seven weeks
of this year demonstrate, according
to report made today by the United
States Chamber of Commerce, Harper
Sibley, president. The forecast that
this momentum would run well into
1887 has now proven correct, the
chamber states. The review adds:
The strength which was garnered
gradually from May, 1885, to Decem-
ber, 1886, has maintained national
indices in the face Of adverse influ-
ences in strikes, floods, and weather
conditions of destructive effect in
some sections. 1t is these reserves of
strength that have brought about
rapid resumption, not only in public
services but in industry and distribu-
ton, in areas of great floods and
speedy return to operation after un-
usual strikes have caused interrupt
tionS.
During the seven weeks the volume
of movement of goods of all kinds, as
reflected in the carloadings of the
railroads, kept we'll above the level of
last Winter; by the end of the month
they may have reached point better
than at this time of year since 1880.
The output of electric power nationally
has remained at an unprecedented
high level
Retail trade, too, is making good
showing for the Winter months; it is
obvious that, if volume continues in
its current relation to volume year
ago, the physical volume of retail
trade this year will be well over any
earlier year.
When the main regions of the
country are considered, each is found
to have as whole more activity in
January, 1887, than in January. 1886,
whatever the differences in experience
among the communities in the dis
tricts. The advances shown by such
comparisons are highest in portions
of the South and Southwest, the
resume concludes.
Everett Joins Bank Board.
George N. Everett, second vice pres
ident and secretary of woodward &
Lothrop. was elected member of
the Board of Directors of the Ma
tional Bank of Washington at the
Frank White announced. He has
been one of the city's leading busi-
ness men for many years.
Capital Traction SIS sold up to 81 on
the Washington Stock Exchange to-
day for the first time in many months.
Woodward & Lothrop preferred sold
at l25, Capitol Transit at 15l2 and
Potomac Electric Power 314s at 104.
Low Interest Here to Stay.
Addressing the American Life Con-
vention in Chicago, Don F. Roberts,
treasurer of the Acacia Life Insurance
Co. of this city, said it was not prob
able that gross interest earnings of life
insurance companies could even ap-
proach the 1929 level for many years.
He told the insurance executives that
substantial portion of seasoned in
vestments have been and still are be-
ing refunded at lower interest rates.
New money invested is bringing
lower rate of return than the average
received from the investment account
as WnOle, ne addeo.
Another speaker, E. C. wilkinson,
Standard Statistics Co., said that bond
investors could be counseled to sit
tight" because he believed there would
be a good market for some time.
Security Exchanges Lauded.
Fenner & Beane, New York Stock
Exchange firm. has published a 28-
page illustrated booklet entitled Why
10000 Miles of Private Wires?" which
discusses the projections afforded to
investors by organized securities mar
kets. The booklet is believed by the
firms officials to represent the first t1-
stance in which a financial house has
discussed the question of securities eX-
changes purely from the viewpoint Of
investors.
Among the benefits to investors that
are discussed are the financial respon-
sibility of member firms, speed of exc
cution, the concentration of buying
and selling orders from all over the
world, strict rules of trading that pro-
tect the investors interests. proof Of
prices, publicity requirements for listed
companies, the liquidity of listed Sc
curities and the accounting procedure
specified for corporations whose securi-
ties are listed
Assets Show Large Increase.
The Massachusetts, Mutual Life In
surance Co., John F. Cremen, Wash
ington general agent, reported today
that new life insurance in 1886
amounted to S141 ,410, lis. an increase
of per cent over 1885, and more in
surance was sold in every month Of
1886 than in the same month of 1885.
Fewer policies were lapsed or sur
rendered, and the mortality expert
ence, which was 563 per cent of the
expected, was also an Improvement
over 1885. Total insurance in force
on December 81, 1886, was $l,874,-
06O,61s, a gain of 22,615,000.
In its financial operations also the
company was most successful. Earn
ings on invested assets after deduc-
ton of expenses were at the rate Of
4.06 per cent in 1886, as against $40
percent in 1885. The assets increased
by $3S, ,888,015 to a total of $572,112,-
957.60 on December 81, 1886. Close
control over operating expenses was
indicated by the reduction in the ex-
pense ratio.
Stone to Address Auditors.
The auditors section Of the District
of Columbia Bankers Association has
announced dinner meeting to be held
tomorrow evening at o'clock at Wes-
ley Hall, Seventeenth and K streets.
The guest speaker will be Edward
Stone, chief of the project analysis.
Resettlement Division; a member OF
the faculty of the American Institute
of Banking as well as the Graduate
School of Banking at Rutgers Univer-
Gty.
His subject will be World Peace
and Our Economic System" An un-
usually large attendance is expected
of bank officials in addition to the