Evening star., 1937-01-08
Bankers Discuss Auto Loans.

postal revenues in the past IL months
Of $6l8,553.
Bankers Discuss Auto Loans.
Washington bankers. at their week.
ly luncheon at the willard this noon,
paid special attention to the subject of
financing the purchase of automobiles.
For some time several banks in the
Capital have been discounting notes
secured by liens on automobiles. Sew
eral problems have arisen as to the
best methods of handling this type of
loans and the best ways of procedure
were talked over at the meeting today.
Some time ago letter on the sub
Ject was sent to all members of the
District Bankers Association. and later
committee was appointed to give the
matter careful study. The special
committee consisted of C. F. Burton,
president, City Bank, chairman; John
A. Reilly, president Second National,
and Hilleary G. Hoskinson, vice presi-
dent, Riggs National, and also second
vice president of the association.
The committee has already made a
complete and thorough report, which
formed the basis of today's discussions.
It Is understood that the subject is be-
ing given attention more from a pro-
tective viewpoint than the launching
OF drive for more new business.
First Vice President Thomas ].
Groom presided. He reported that
President Karl w. Corby is making
very favorable improvement.
Acacia Reports Record Year.
A new, all-time record of progress
was written during 1886 by the Acacia
Mutual Life Insurance Co., it was an
nounced today by William Montgom-
cry, president.
The volume Of insurance in force
passed the previous peak and today
exceeds $365,o00,000, a net increase
Of more than l2,700,0 for the
year" he stated.
New paid-for insurance amounted
to more than s38,000,00O, while the
assets advanced by s6 100000 to more
than $66,000,000. the latter figure an
increase of 95 per cent since the year
1929"
The District Of Columbia branch
registered 81 per cent increase in
patd-for insurance during the year
as compared with 1885, and the vol
ume OF insurance in force in Wash
tngton advanced to $25,000,0O0.
U. S. Competition Data Sought.
Just how much Government lending
agencies are competing with banks
all over the country is to be learned
by the Committee on Banking Studies
Of the American Bankers Association,
which has just sent out a question:
naire to member banks and also to
State bankers associations. Wilmer
j. Waller. vice president of the Ham
ilton National Bank, this city, is a
member Of the committee.
The QUESTIONABLE refers specifically
to the Federal Land Banks, the
land bank commissioner, Production
Credit Associations, Banks for CO.
operatives and Federal Savings and
Loan Associations. 1t asks whether
these agencies are in competition with
the. bank addressed and whether the
subject is Of sufficient importance to
the bank to warrant a detailed study
Of their operations in its county.
1t also asks whether any other
Government lending agencies are con-
sidered as being in competition with
the bank, what these agencies are
and what specific counter measures
1t has been taking. Washington banks
Will furnish their share of the de-
sired data.
Today's Trading on Exchange.
Security Storage led trading on the
washington Stock Exchange today
With so shares moving at 1875.
Capital Transit was strong, opening
at 15A and closing at 1512, a new
high mark for several weeks.
Riggs National Bank common was
IN demand again tday, 3301a. Eighty
shares OF Real Estate Mortgage g.
Guaranty preferred came out at Ga
and Capital Traction IS were particu-
larly strong, changing hands at 95.
Liberty National, American Secur-
ity. Norfolk & Washington Steamboat
Co. and Security Storage stocks are
being quoted ex-dividend.
Heard in Financial District.
The Maryland Casualty Co. in 1896
showed . gain Of $2,108, 900 in net
premiums, 1t was announced by
Silliman Evans, president. The net
premiums for the year were 80 per
cent more than the figure for 1888
and within II per cent of the COM
pany's 1929 high.
Cosmopolitan Once Building h
Theater first per cent bonds of 1898,
which were called for redemption as
Of January l at 103 and accrued In.
terest, were issued by a Chicago firm
on the Earle Building here. They were
widely bought in the Capital.
The Union Bank d Trust Go. and
Port Royal Bank have been merged
under the name of the Union Bank &
Trust Co., Of Bowling Green. Va.
Thomas H. Blanton Of Bowling Green