Evening star., 1937-12-03
INSURANCE AID
IN SLUMP CITED
Fine Record Is Reviewed
. by Speaker Before D. C.
Underwriters.
BY EDWARD C. STONE.

made by life insurance companies
after the economic crash of 1929,
James Elton Bragg, manager of the
New York agency of the Guardian
Life Insurance Co., told more than
400 members of the District Life I'm
derwriters' Association, at the Willard
Hotel this noon, that payments of
American life insurance companies to
policyholders and benef1ciaries in the
six-year period from 1929 through
1885 totaled $l8,000,000 0000. During
the first three years of this period.
due to needs for relief, the national
debt increased $4,000. 900 900, he said.
Mr.. Bragg said that the life insur-
ance companies had about Sl8,OO0,-
100000 in accumulated investment
funds of policyholders, which were
not used for the six-year payments.
At the end of the period these assets
had increased more than $1,000 O0O,-
900.
The great majority of polcyholders
kept up their premiums Those who
we're able to pay their premiums sup
piled current income to those who
had to call upon the companies for
payments, Mr.. Bragg calling this rec
ord one of the fundamental elements
of strength in life insurance
Speaking on Our Product" he pre-
sented many other facts and figures
and added many personal experiences
after more than 20 years in the busi-
ness. Paul H. Primm presided at
the monthly luncheon. and marked
progress was reported in the associa-
tion's membership drive
T. Bedford Jones, Mckinley High
School student, was presented with a
check for S25, awarded to him by the
Judges of the National Association of
Life Underwriters for his letter en-
tered in the national high school let
ter-writing contest.
New Cotton Exchange Member
j. Henry Fellers, who is associated
with the New York Stock Exchange
firm of E. A. Pierce e. Co. and fire.
ouent visitor to Washington. was elect
ed to membership in the New York
Cotton Exchange yesterday Formerly
from North Carolina he now lives in
New York. He comes to the Capital to
keep in touch with the latest cotton
records in the Department of Com
merce and to keep up with develop
ments in the industry
Employees of the Liberty National
Bank have been voted a half months
salary as a Christmas bonus, Presi-
dent M. F. Calnan announced today.
The directors voted the extra compen-
sstion at a recent meeting and the
disbursement has already been made.
The Liberty National and the City
Bank are the first banks in the Cap
ital to announce holiday bonuses.
There were many such announcements
year ago.
The Seventh Street Savings Bank
will begin payment Monday of slo5 800
to ISIS depositors, the dividend to
be distributed at the Seventh street
branch of the Hamilton National Bank.
Management Experts to Meet.
Five prominent residents of WASH
hgton have accepted committee
memberships in organizing the
Seventh International MANAGEMENT
Congress to be held here September
l9 to %, 1888.
The congress. under the pres
idency Of Viscount Leverhulme of
Great Britain, will bring together
from 40 countries approximately
2,500 authorities on management as
applied to industry, commerce
finance, the farm and the home.
Washingtonians aiding in this or
eanization are:
Miss Helen W. Atwater, editor of
Journal of Home Economics, Ameri-
can Home Economics Association:
Frederick NJ. Feiker, secretary of
Americ lean Engineering Council:
Thomas w. Howard of the Chamber
OF Commerce of the United States:
Ben H. Lambe, manager of publicity
department, Chamber of Commerce
of the United States, and Miss
Earlene White. president of the Ma
tional Federation of Business g. Pro-
fessional Women's Clubs, Inc.
Miss Atwater is a technical expert
for the Committee on Home Man
agement, of which Miss White is a
member. Mr. Feiker is secretary of
the Social and Tours Committee, of
which Mr.. Howard is member. Mr..
Lambe is member of the Committee
on Public Relation
Ex-Riggs Employe Promoted.
L. H. Diffenderfer, who began his
banking career with the Riggs Ma
tional Bank, in Washington, has been
appointed manager of the La Jolla
Branch of the Bank of America, at
La Jolla, Calf, according to an
nouncement by President L. M. Gian-
mini. native of Cornwell, NJ Y,
he came to Washington and after his
afhllation with Riggs, went to Cali
fornia in 1928. He has held many re-
sponsible positions with the Bank of
America, recently being in charge of
the Federal housing loan department
at the banks Southern headquarters.
He will live at La Jolla, according to
word received here
Foreclosures Make New Low.
Farm foreclosures in August were
the smallest for any month during
the last four years, according to an
announcement made today by A. S.
Goss, Land Bank commissioner of
the Farm Credit Administration.
During the month foreclosures
throughout the United States by all
lenders numbered only 1881. For
the third quarter of 1887 foreclosures
totaled 9,719, compared with 1850
for the corresponding period in 1896
"A decline of % per cent. The cur
rent estimate. Mr. Goss said, is the
smallest for any three month period
since data were first compiled in
1898.
With the exception of loans by the
Land Bank commissioner, foreclosures
have shown a decline on all types of
loans during the third quarter of 1897,
compared with year ago.