Evening star., 1937-12-17
INSURANCE SALES
CLIMB IN YEAR
Gain of 700 Millions Over
1886 Total Forecast by
Roger B. Hull.
By EDWARD C. STONE.

$700,000,000 over last years total, ac-
cording to Roger B. Hull, general
counsel of the National Association of
Life Underwriters.
At the close of December this year
64000,0o0 Americans will own life
insurance aggregating $110, 900, 900, 900,
the largest amount ever held in United
States legal reserve companies.
And the accumulation of policy
holder payments, represented by the
assets of all the United States old
line companies. will amount to $685.
350,000,000, which is $780, 100000
more than was reported last December.
In an address in Boston, the ma
tional official said that the average
size of the 120000,0o0 policies out
standing is about S825 and the aver
age coverage per policyholder is just
above Sl,700
Life insurance has developed more
rapidly in the United States than
In any other country in the world,
Mr.. Hull asserted. With less than Z
per cent of the worlds population,
people in the United States own more
than 70 per cent of the worlds life
Insurance Canada comes next in per
capita ownership Great Britain third,
he said.
Merger Now Four Years Old.
The Capital Transit Co. recently
noted the fact the Capital Traction
and Washington Railway e. Electric
Cos. we're merged just four years ago
on December l, 1888. Washington
Rapid Transit's bus lines were alb
sorbed in 1886. During the four years
marked progress has been made by the
unified system, Transit officials claim
Ing that the major objects of the
merger have already been attained.
Their statement says:
I'm December, 1888, Capital Transit
and w. r. T. together paid S308,742
In wages to 2,728 employees; carried
12,739,742 passengers, earned S687,286
passenger revenue, average fare, in
Guiding transfer users, was 5.4 cents
q ride. In October, 1887, Capital
Transit paid s5O9.5lo in wages to
1851 employees; carried 18,5O9,128 pas
sengers. earned s9o4,254 passenger
revenue; average fare, including trans
fer users, was 40 cents a ride.
From December l, 1898, to Octo-
Der /, 1887, gross additions and I'M
provements to the unified system cost
ses36,oO0.
Our customers have got more and
better service at lower average fare
Our employees have got higher pay.
Washington's business and property
values, dependent on good car-bus
service. have been substantially en-
hanced and safeguarded by Capital
Transts growth.
"Our stockholders, who have put
Into new cars, buses. trackage and
other betterments nearly all We had
IN our treasury, plus nearly all the
lines earned above running costs and
interest on debt, plus a million of
borrowed capital, are still waiting for
the fair return which public policy
declares, and company credit requires.
that they should receive"
Lynham Heads Trade Group.
G. B. Lynham of the Office Machines
Co. has been elected president of the
Washington Typewriter Dealers Asso-
clation for the coming year, it was
learned today. c. H. Davidson. Dis
trict Typewriter Exchange, was elected
vice president and Frederick Kehew,
Central Typewriter Co., secretary
treasurer
The association is made up of the
typewriter and Office appliance dealers
OF Washington, including the local
representatives of typewriter manu-
facturers, the purpose being to main
tain high standards and fair practices
IN the trade and to cooperate in the
prevention of abuses in extending time
payment credit.
The association was formed in 1882
and now includes 80 per cent of the
typewriter and Office machine dealers
IN the city. The annual dinner and
election were held at the Ambassador
Hotel.
Accounting Changes Stressed.
John L. Carey national secretary of
the American Institute of Account
ants, told the Washington group last
night that new responsibilities are
being placed on the profession. Pres
ent-day readJustments between the
Government and the people have as
sumed newer and greater importance.
he said. To meet these new needs.
accountants are now better organized
than ever, the national association
having nearly 5000 members. The
national association is also keeping in
closer touch with all the State Or
ganizations.
Harold S. Roberts, president of
washington Chapter, presided at last
nights meeting held at the Hay
Adams House.
Banks Declare Dividends,
Directors of the Lincoln National
Bank have declared the regular semi
annual dividend of 212 per cent and
an extra dividend of ll2 per cent,
payable January to stockholders of
record December 90.
Bank of Bethesda directors have
declared the regular semi-annual
dividend of Ia per cent on the out
standing stock, payable December ~
to shareholders of record December
is.
The Carpet Corps dividend of Is
cents a share will be paid December
20 to stock of record December II.
Today's Tradirg on Exchange.
Bonds came to life on the Wash
ington Stock Exchange today when
two $1,000 transfers took place in
Potomac Electric Power 3l4s at 1O4.
The last previous sale was recorded
at 1925. Washington Gas Light
preferred stock appeared on the board
in small-lot sale at 98ia, unchanged.
Bank clearings in Washington for
the week ended Wednesday totaled
$23,161 ,68r39, against s24,5O5, 1902 so
in the corresponding week last year,
q decrease of 5.4 per cent Clearings
Of $24,s64, ,833.49 in the previous week
were about 7 per cent better than
the last returns. The showing here
was better than in Baltimore or
Richmond.
The ,,ooir, of5on at rJortford ae A..