Evening star., 1937-02-18
VOLUME CLIMBS
OND. c. EXCHANGE
Dollar Total for Stock Deal
ings Advances to ST.
588,732 in 1886.
BY EDWARD C. STONE.

OF transactions IN 1889, according TO
a report issued by the Securities and
Exchange Commission covering all
registered securities exchanges in the
country.
The sales value of stocks in dollars
on the Washington Stock Exchange
amounted to 81, ,588,732 during the year
1886 in comparison with $999,651 for
the IL months in 1885, the report
states. There was a turnover of 4,749
shares in 1886, against only 1887 in
the previous year.
The dollar value of bond transac-
tions in 1886, however, was not as
large as in 1885. In 1886 total bond
sales were valued at $801, ,34l, COM
pared with 81 1,o79,867 in 1885. The
drop in bond sales was more than
Offset by the gain in stock turnover,
leaving the total dollar value of both
stocks and bonds at S2,390, ,073, against
the lower figure of $2,079,518 for 1885.
The dollar value of transactions on
all registered exchanges during 1886
amounted to $27,284, 1886, an in
crease of 42.7 per cent over the total
for 1885. The Baltimore Stock Ex-
change reported the dollar value of
both stocks and bonds in 1886 as
e18,648,50l, against $11,373,6l8 in
1895. Richmond also reported a
marked upturn during the year.
Insurance Organization Grows.
Twenty new members were intro
duced by President Laurance H. Rig
giles Of the District of Columbia Life
Underwriters Association at the Feb
ruary luncheon at the Willard Hotel
yesterday. The organization is enjoy
ing remarkable growth. A report on
the recent sales congress showed that
Baltimore sent the largest delegation
here since these annual meetings were
started. The fact that all expenses
were paid and a balance left on hand
brought forth appaluse.
National life insurance week" will
be held this year during the week of
May II, it was announced. j. E.
McCombs is chairman for Washington,
Virginia, Maryland and Delaware and
Harold D. Kraft for this city alone.
More attention is to be paid to in
surance education this year than to
new records in selling efforts, Chair
man McCombS announced.
Winthrop G. Batchelder stressed the
second semester of the Life Insur-
ance Institute and James A. De Force,
president c. L. u. Chapter, called at
tention to the tenth anniversary din
ner. set for March % at the Shore
ham Hotel The guest speaker was
Irwin Bendiner, Philadelphia, who dis
eussed What Lies Ahead in Life In
surance," his remarks being among
che most entertaining in many moons.
Noted Banquet Guests Listed.
Among the distinguished guests who
will attend the annual banquet of
Washington Chapter, American In
stitute Of Banking, Saturday at the
willard Hotel, will be:
James B. Alley, general counsel
r. F. c.; Daniel w. Bell acting di-
rector budget; L. E. Birdzell, general
counsel, F. D. I. C.; E. H. Cough,
deputy controller of the currency;
Chester Morrill,, secretary, Federal
Reserve Board; Henry A. Milligan
treasurer, R. F. c.; M. S. Szymczak
member, Federal Reserve Board; Hugh
Leach, president, Federal Reserve
Bank of Richmond; Leon H. Johns
ton, vice president, Chase National
Bank; William Prentiss, jr., deputy
controller of the currency, and
Thomas B. McAdams, president, Union
Trust Co, Baltimore
The Seating Committee, Robert H.
lacey, chairman, is now struggling
with the difficult task of seating be-
tween 900 and 1000 members and
their guests.
Agency Wins National Honors.
The District of Columbia Office of
the Mutual Benefit Life of New Jersey
led the entire United States in the
percentage of its agents qualifying
for the company convention to be held
IN Atlantic City in April, according
70 Herbert G. Kenagy, superintendent
of agencies. Convention qualification
Is based on production.
Ten out of the thirteen members of
the agency qualified, as follows: Ray
mond L. Bland, George c. Campbell,
James A. De Force, Joseph w. Gibson,
George T. Howard, Francis F. Miller.
Edwin P. Parker, Frank D. Roach,
Charles M. Schwab and Dwight T.
Scott.
Convention Dates Announced.
The twenty-sixth annual conven-
kion of the Investment Bankers As
sociation of America will be held at
the Greenbrier Hotel, White Sulphur
Springs, w. Va, November to Z.
The location and date, fixed by the
Board of Governors, were announced
today by Edward w. Hall, president
Of the association. A good sized dele
cation from Washington will attend
the sessions.
Sales of American Stores Co. for
January in IS business days totaled
S9.440,019, against $10,193,697 in q
business days in January. 1886, a de-
crease of 7 per cent. Sales for De-
eember, 1886, showed an increase of
e.8 per cent over December, 1895, to-
days report said.
Ruling on Maryland Banks.
State banks organized under the
general laws of the State of Mary
land are not instrumentalities of the
State within the meaning of the social
security act, the Bureau of Internal
Revenue decided
II, however, such banks are mem
bers of the Federal Reserve System
they are instrumentalities of the
United States within the meaning of
the act, the bureau stated.
"Free Riding" Ends March l.
The machinery by which the New
York Stock Exchange will see that
members observe its new ruling
against "free-riding' in stocks through
taking advantage of the three-day
margin rule will become effective on
March l, the Committee on Business
Conduct of the Exchange has decided
Reports on the way customers respond
10 calls for margin will be compiled