Evening star., 1937-03-20
D. c. INSURANCE
MOUNTS SHARPLY
February New Business
Shows 81 Per Cent Gain
Over 1886 Month.
BY EDWARD C. STONE.

BY EDW AhD L. STONE.
Distuct of Columbia life insurance
agents hung up a brilliant record in
February, writing 81 per cent more
new business than in February, 1886,
at the same time beating the mark set
by every State in the Union but Flor
Ida, which did 33 per cent more busi-
ness than a year ago.
Virginia did almost as we'll as Wash
ington, reporting gain of 81 per cent
In new insurance, according to the
monthly survey of the Life Insurance
Sales Research Bureau, Hartford,
Conn. New insurance in West Vir-
ginia was Is per cent better than a
year ago South Carolina boosted
business IL per cent and Maryland
wrote l per cent more policies than
last year in the same Llonth, The
national average was up 6 per cent
North Carolina dropped per cent.
In the national figures the South
Atlantic States made a particularly
good showing with an aggregate gain
of is per cent. New England also
did we'll During February Washing
ton agents wrote S5875,000 in new
business Maryland reported total of
S6,794,0 ,000 Virginia, S6,047 900; West
Virginia, S4l69,000; North Carolina,
S5,703 900, and South Carolina, 50,
$4,000 Including Delaware. Geor-
gia and Florida, the total for the group
was S44038,000. In the Capital IS
per cent of the Old Line offices did
more business than in February, 1886.
Business in Washington during the
first two months of this year was up
7 per cent Virginia's was IA per cent
higher and Maryland per cent.
This city's February gain was far
ahead of Boston, New York, Philadel-
phia, Chicago and all the other big
cities in the country, the report re-
Veals.
Store Payments Show Gains.
Payments on open-credit accounts
receivable of department stores were
made at slightly higher rate during
January, 1887, than during January,
1896, and December, 1886, according
to an announcement today by the
Bureau of Foreign and Domestic Com
merce.
The installment collection rate was
lower in January, 1887, than in both
January and December, 1886. The in
stallment collection percentages we're
164 for January this year and 1877
for January and 17.3 for December
last year.
Six of the Federal Reserve districts
reported higher collection perc 1tages
on open accounts for January, 1887,
as compared with January, 1885. with
the Philadelphia district registering
the greatest relative increase. On in
stallment accounts, the Boston, Rich
mond and Chicago districts showed in
creaSeS, while the other nine districts
showed decreases.
Cochran Author of Tax Book.
Howe P. Cochran, an attorney and
accountant, who is a member of the
District of Columbia bar, has just
written a most exhaustive book on
Scientific Tax Reduction" pub
lished by Funk & Wagnalls, New
York. This Washington man, whose
into the intricacies of the Federal
tax laws at great length, his aim
being to give a comprehensive treat
ment of Federal income, gift and
estate taxes. dealing with both gal
and accounting tax problems.
The author is enrolled to practice
before the Treasury Department,
Board of Tax Appeals and other
courts including the Supreme Court,
and has had large tax experience.
In his new book he includes many
short schedules by which may be
determined the gain or loss on any
property sale. His book is certain to
be widely read by large taxpayers, tax
practitioners and accountants, as one
of the most comprehensive tax guides
yet written.
Market Interest Maintained.
Boardroonls in Washington broker
age houses have been unusually
crowded during the past week. On
the outlook for the stock market there
are as mapy different opinions as
customers. The action of United
States bonds, ,s1aayes in stocks, the
Supreme CnnrsHsit- strikes and
host of easr topics figure promi-
nently in ths.eaily gossip.
Probably the sit-doWn stikes have
caused the most lively arguments. Two
traders brought bacl. memories of An
drew Carnegie during one of these dis
cussions.
Which is the most important, capi-
tai, labor or management" asked one
trader, to which the reply was that
Carnegie had given the best answer
to that question; when he once asked:
Which is the most important leg
Of three-legged stool?
Heard in Financial District.
j. A. Sisto & Co. announces heavy
oversubscription f the issue of 100000
shares Of common stock of Air De-
vices Corp, which was placed on the
market yesterday at S375 per share.
The books have been closed.
President Floyd E. Davis of the Lin
coin Memorial National Bank has been
on visit to Atlantic City. His bank
will celebrate its 47th anniversary
next Thursday, March Is.
The A. B. A. Regional Conference
at Atlanta on March 25 and 26 will
be largely attended, advance registra-
tions indicate. Robert -. Fleming
and some other bankers will attend
from here although most of the Wash
ington financiers attended the Pitts
burgh conference.
The Bank of Commerce, Seventh
and E streets, is making changes in
the lobby to furnish additional coun-
ter space.
futures market for frozen eggs
and facilities for spot transactions in
this commodity will be established on
the Chicago Mercantile Exchange with
the Inauguration of trading on April
], Lloyd S. Tenny, business manager
OF the Chicago mart, reported today
Lower Rates Planned.
The Virginia Public Service Co., a
subsidiary of Associated Gas & Elec-