Evening star., 1937-09-30

VI bdTDer & ROSS
Tor many years, after he had obtained
broad experience as a salesman. He
will assume his new duties tomorrow
1t was announced today.
Mr.. Hardell has long been a member
OF the board of directors of the Y. M
c. A.. is past master of Cathedral
Masonic Lodge, graduate of Tech
High School and Georgetown Univer-
sity, and is member of Delta Theta
Phi legal fraternity; also of the Wash
tngton Board of Trade.
Underwriters to Hear Arnold.
The District of Columbia Life Un-
derwriters Association will hold its first
Fall luncheon meeting, next Monday
at the Willard Hotel, with the new
president, Paul Prinm, presiding and
a noted guest speaker on the program.
The programs for the series of
monthly meetings are planned to
cover important questions that the
public is asking of life insurance COM
panies and life insurance men and
women in the field For Mondays
meeting the association will hear o. j.
Arnold, president of Northwestern
National Life Insurance Company, of
Minneapolis, discuss the subject, so
cial Security Through Life Insurance. 4"
Mr.. Arnold, director of the United
States Chamber of Commerce and
chairman of its Insurance Committee,
is also chairman of the board of di-
rectors of the Life Insurance Sales
Research Bureau of Hartford, and a
director of the American College of
Life Underwriters, Philadelphia.
One of the outstanding speakers at
the National Convention of Under
writer's in Denver within the month,
Mr.. Arnold's address here is antici-
pated with unusual interest.
Farm Income Boosts Recovery.
One of the outstanding business de-
velopments of the year, says the
Guaranty Trust Co.'S latest survey, is
the marked increase that has occurred
In the actual and prospective purchas-
ing power of the farm population.
This increase is the result of a COM
bination of good crops and a favorable
price situation-a combination that
has already been witnessed in recent
years. 1t promises to be one of the
most important influences tending to
sustain the level of general business
activity over the next several months.
A prospective farm income with
purchasing power within / per cent
OF the 1929 figure and per cent above
the average for the few years i'm
mediately preceding the depression, to-
gether with sharp reductions in debt,
interest charges and taxes, would seem
10 indicate that agricultural recovery
mas progressed to the point where
the farm population can once more
demand and consume it's normal share
OF the country's industrial output.
Heard In Financial District.
w. w. Spaid, senior partner in W. B.
dibbs & Co., who has Just retired as
president of the Associated Stock Ex-
changes, has been president of the
national organization for the last three
years and rendered valuable service to
the association. Eugene E. Thomson.
retlrlng executive secretary, was one of
the organizers of the association and
president OF it for eight years.
George H. Bright, head teller at the
National Metropolitan Bank and man.
ager OF the Washington Clearing House
Association, is on his annual vaca-
tlon. Silas E. Moore, assistant man.
ager, is looking after the affairs of the
Clearing House.
Nearly all the investment houses in
Washington will be represented at the
Fall meeting of the Southeastern
Group, Investment Bankers Associa-
ton, IN Baltimore tomorrow. Wallace
H. Fulton, director, Investment Bank
ers' Conference, Inc, of Washington
will be the guest speaker.
Many Capital bankers agree with
Gen. Charles G. Dawes, former Vice
President, that the present stock mar.
ket situation does not portend any
serious slackening in generally pros.
porous business conditions.
Residential construction in all cities
OF 10000 population or over during the
first eight months of 1897 totaled 49,.
S91 units, an increase of 1851 owe,
the same period in 1886, according te
the Federal Home Loan Bank Board.
Today's Trading on Exchange.
Three $1,000 transactions were
recorded in Potomac Electric Power
3As on the Washington Exchange to-
day. Capital Transit stock sold at
10, Potomac Electric Power 515 per
cent preferred at 11134 and the per
cent preferred at 1875. Washington
Railway & Electric preferred brought
ITO on several sales. Capital Trac-