Evening star., 1938-03-23
D. c. INSURANCE
AVERAGE IN LEAD
Size of Policies Sold Here
Larger Than in Any
State During 1887.
By EDWARD C. STONE.

CQdH CIle average IOT all TIE states,
the Life Insurance Sales Research
Bureau at Hartford reported today.
Delaware took second place with
policies averaging s3,022, at the same
time being the only one of the 4S
States with an average above $4,000.
The average for the whole United
States for policies written in 1887 was
e2,423.
The average policy written in Mary
land was s2,74l, in Virginia, s2,3l3,
and in West Virginia, S2.338. North
Carolina had an average of $2,212 for
new policies and South Carolina,
sl.857. New York ran S2,97O and
Pennsylvania, s2,368. The Massachu-
sets average was s2,515 and Illinois.
s2372, far below the sums involved
In the policies of Washingtonians.
February Sales in Tumble.
However. new insurance sales in
February, 1898, in the Capital took a
sharp tumble in comparison with
February year ago. Policies written
in the District totaled SASH 900, a
drop OF 33 per cent from the same
month last year and making a slump
Of ID per cent for the first two months
OF this year. The national average
showed business down II per cent
In February and Is per cent in the
two months as compared with the same
periods year ago.
Eleven States showed gain but
the others wiped it out. While the
Washington average took a sharp drop,
yet in January and February of this
year agents wrote S9.431 600 in new
business. February business in the
whole country totaled s4sS, ,703 900 and
1882 $4,000 in the two months.
In Maryland business was off only
per cent in February and per cent
for the two months. February sales
amounted to s7308,0Oo and in the
two months to $14,7ae,Ooo. In Feb
ruary so per cent of the companies did
more business than a year ago. Vlr-
elnla reported decrease of - per cent
but agents wrote s6,606, 900 and Sl3,-
0l4000 in the two months.
Stock Has Fine Record.
Sale of seven shares of WASHINGTON
Railway & Electric common stock on
the Washington Stock Exchange YES
terday at S6l6.50 share calls atten-
tion to the highest-priced stock on the
board. The days market closed with
$500 bid and none offered at any
price.
Holders of this stock almost never
sell it. Last year there was a turn
over of only 10 or 20 shares in the
whole II months. Yesterdays sale was
the first in 1888. In 1887 the stock
paid $50 share, which included a
Sl4 extra IN November. In 1887 the
stock sold at S725 share to yield 495.
With the stock moving at s6l6.50 a
share. the yield, of course, is higher
now.
Washington Railway & Electric pre-
ferred stock is also listed on the WASH
ington exchange. 1t is one of the
more active and popular issues, is now
selling around $11050 a share and
yielding asa per cent. Already about
200 shares have changed hands this
year.
Railway & Electric common is not
only the highest-priced stock in WASH
ington. but one of the highest in the
United States. In these times very few
stocks are selling over $500 a share.
The majority of it is held by the North
American Co 1t has held up particu-
larly well considering the action of
many other utility stocks during the
past year or two.
Associates to Honor Grove.
James A. Fulton. president of the
Home Life Insurance Co., New York.
will give luncheon at the WASHINGTON
Hotel on Monday. April 4, in honor
OF Paul F. Grove. jr, who has led all
other insurance statesmen in this terri
tory in the first two months of this
year. He is the leader in a group of
agencies representing approximately
one-seventh of the companys territory.
In addition to President Fulton and his
business associates in the Washington
ofhce, a small group of friends and
clients have been asked to the lunch
con.
1927 Profits Held Favorable.
Mackubin, Legg g. Co. is distributing
q report on the 1887 earnings of mu-
tual investment companies, prepared
by Donald j. Smith. The two sources
OF income are the dividends and in.
terest paid and the profits realized
when the securities are sold. The
statement says that combined net
earnings from all sources of 20 larger
and better known open-end invest
ment companies during 1887 amounted
to s25,072,320 as compared to SAL
$4,000 in 1896. This net income from
all sources represented a satisfactory
return. being 612 per cent on the
average market value of the assets of
the 20 companies under supervision
during the year.
Insured Loans Reported.
During the year 1887 in the District
Of Columbia 214 home mortgages were
accepted for insurance by the Federal
Housing Administration, involving
$1,466, 100.
Insured home mortgages in Mary
land accepted for insurance numbered
1882 and amounted to s8,09O,SS5,
In Virginia insured home mortgages
numbered 1,617 and amounted to S.
958, 700, the Federal Housing Admins
tration reports.
: West Virginia took an interest in
these loans to the number of 745 and
amounting to an aggregate sum of
$5,s6o,soo, the report says.
Mergenthaler Is Active.
Mergenthaler Linotype stock was
active on the Washington Exchange
today, five l0-share lots selling at 1874
and SO more shares moving at 1894.
Capital Transit moved at Z; Wash
ington Railway g. Electric preferred
at 11o%.
Thirty shares of American Security
d Trust Co. stock changed hands at
240 and Is shares of Potomac Electric
Power 512 per cent preferred were in
demand at 112M.
Heard in Financial District.