Evening star., 1937-05-24
INSURANCE SALES
. BEST IN SIX YEARS
April Gain of is Per Cent
/ Over Same Period in
1886 Reported.
BY EDWARDC STONE,


United States during April were the
largest for that month since April,
1881, according to figures made public
today by the Life Insurance Sales Re-
search Bureau. April sales were 16 per
cent ahead of those of the same month
year ago and totaled $692 ,o62 900,
Hartford dispatches said.
In the first four months OF this year
new life insurance sales in the Nation
were per cent above those of the
same 1895 period.
Every section of the country was
represented in the increase in life
insurance business during April. with
the East South Central States leading
the Nation with their gain of q per
cent over April, 1886.
Delaware headed the long list of
States recording increases in April
new business over that of April, 1896,
with its gain of SO per cent.
Maine outdistanced other States in
point of gain in new life insurance
business in the first four months of
1887 over the like period of year ago,
its Jump being "a per cent.
Forty-five States and the District
OF Columbia reported increased life
insurance sales in April, gains ranging
from to 38 per cent over April, 1896.
West Virginia reported decline of
2 per cent, and Nevada per cent,
from the new ordinary life insurance
sales of April, 1886.
Forty States and the District of
Columbia registered gains in life in
surance sales in the first four months
OF 1887 over the same months of 1886
from to "a per cent.
Kacy New Hamilton Director.
Howard w. Kacy, vice president and
General counsel of the Acacia Mutual
Life Insurance Co., has been elected q
director in the Hamilton National
Bank. President E. c. Graham an
nounced today. Mr.. Kacy is widely
Known in the insurance world. In
The National Capital he is active in
Masonic circles, member of the Con-
gressional Country Club and the
American Legion, as well as of two
college fraternities.
He is member of the Indiana State
Bar, the American Bar Association
and the Association of Life Insurance
Counsel He has been admitted to
practice before the Indiana Supreme
Court, the District of Columbia Su-
oreme Court and the Supreme Court
OF the United States.
He has been an active member of
the Washington Board of Trade and
is trustee of Group Hospitaliza-
ton, Inc. A native of HUNTINGTON.
Ind, he graduated from Indiana
University in the class of 1921. He
first engaged in the general practice
OF law, later entering the employ of
the insurance company here as as
sistant counsel. In addition to his
other duties, he is a director of the
company.
U. S. Competition Not Serious.
The question OF competition with
banks from Federally- sponsored lend
ing agencies is local matter and
banks generally are not greatly
alarmed by it, the Committee on
Banking Studies of the American
Bankers Association declares in the
conclusions of its just published re-
port covering this question.
The report presents factual ma
terial on all Government lending
agencies and the results of State-by-
State QUESTIONABLE distributed through
State bankers associations. It finds
iv, {h~
production credit field is strong
enough in many rural areas to war
rant efforts on the part of local banks
to meet it.
Certain types of production loans.
because Of their long maturities or
risky collateral, have not been uni
versally acceptable as bank assets par
ticularly during the uncertainty Of
the past few years." the committee
says. Here production credit asso-
Citations have filled gap in the credit
structure.
"This does not obscure the fact,
however, that many commercial banks
IN agricultural areas have not been
fully alive to their opportunities in de-
ternining and meeting the credit re-
Quirements of farmers in their COM
munities."
The committee announces that it
has no further program to follow in
studying Government lending agencies,
but will assist in advising State or
county associations which desire to
pursue the subject further and request
Its cooperation.
w. j. Waller, vice president and
cashier OF the Hamilton National
Bank, is member of the National
committee making the report.
Institute Holds Outing.
William H. Laughlin. newly elected
president of Washington CHAPTER,
American Institute of Banking, as
sumed his new duties informally at
the annual outing of the chapter held
Saturday afternoon and evening at
commonwealth Farms. The officers,
Board OF Governors and committee
chairmen were present, a dinner
always being a feature of the yearly
event.
1SooenC feterS, regional sales man.
ager OF Servel, Inc, with headquarters
IN Washington, has been in Evans
vile. Ind, participating in the cele-
nration Of the making by his company
Of its millionth refrigerator. He was
among $50 field representatives pres
ent from all parts of the country.
New York reports state that Ernest
Angel. regional administrator of the
New York Office of the Securities and
Exchange Commission, is slated for
appointment to the commission. He
Is called likely timber" for any va
cancy that might occur.
Residents of the District of Colum-
bia received cash life insurance pay
ments in 1886 equivalent to s24.27 per
capita, according to an estimate made
nv the lincoln Nofioro1 Iifa