Evening star., 1938-05-03

Cummings, presi-
dent of the National Association Of
Life Underwriters. whose subject will
be Our Opportunities and Obliga-
tions AS Life Underwriters. G.. Hoyle
Wright. superintendent of agencies,
Metropolitan Life Insurance Co. and
Best c. Nelson, Northwestern Mutual
Life Ins. Co.. will also address the
morning session.
Following luncheon. Paul H. Primm,
president of the District Underwriters
Association, will call the afternoon
session to order and entrust the pro-
gram to Chairman Vernon w. Holle-
man. DR.. Neil Carothers. Lehigh
University, will discuss The Present
Economic Situation" Earle W. Bailey,
Cleveland general agent New England
Mutual will speak on Simplicity in
Complex Business" the program con-
cluding with motion picture bearing
on insurance salesmanship.
Washington agents going by train
will leave the Union Station on special
coaches at 8:45 am Four officers Of
the Washington aSSociation-PreSiden
Primm, Charles W. O'Donnell. Lau-
renee H. Riggles and J. E. McCombs-
will be the guests at breakfast Of Mr.
Cummings, the national president.
Next Monday, three days after
the joint congress, the District Life
Underwriters Association will elect
directors for the coming year. The
directors, in turn, will elect new
president, the death of Vice President
w. G. Batchelder making this task
more difficult than usual.
Record Attendance Forecast.
More than 200 bankers and their
guests will attend the annual spring
dinner at the Columbia Country Club
on Wednesday, May II. President
Thomas J. Groom of the District
Bankers Association. announced today
The number of bank officers directors
and guests will be around 225. in other
words, the capacity of the club
No speeches will be the order of the
evening President Groom will call
upon T. Stanley Holland. chairman
of the General Committee for the
annual convention, to outline plans
for the gathering at Hot Sping5. Va,
in June. Mr.. Holland will aim to make
every banker want to attend the con-
clave and rush in his reservation
The short program will also include
special entertainment. James A. Soper,
vice president and cashier of the Lin
coin National Bank, is chairman of
the Dinner Committee. In the after
noon the financiers will engage in a
golf tournament, prizes to be awarded
at the dinner.
Real Estate Bonds Steady.
Real estate bonds based on proper
ties in Washington were off Is per
cent in the first four months of this
year. according to a review by Burr &
Co., received here today. This decrease
was fractionally less than the ma
tional average.
Real estate bond prices held COM
paratively steady during the month of
April. according to the Burr Index of
$50 Eastern realty bond issues. The
average bid price for these $50 issues
declined during the month from 3s9
on April /, 1888, to 37.9 on April 80,
an average loss of one point.
For the four months ended April 80
the total decline has amounted to 1.6
points from the average bid of 395 on
January 8. The percentage decline in
these $50 issues for the four months
equaled Al per cent.
OF the major types of properties cov-
cred by the index, hotel issues have
shown the smallest decline for 1888
to date, going off only one-tenth of
one point and three-tenths of per
cent. Apartment house issues regis
tered the next smallest loss.
Bond Club Outing Pushed.
Myles H. Quail of Y E. Booker g.
Co.. general chairman of the annual
outing Of the Washington Bond Club
reported today that plans are progress
ing most favorably for the big event
which takes place this year on Friday.
May %, at the Manor Club. Working
with him on the committee are Harold
Patterson, Edison B. Olds. T. Baker
Robinson, Fenton Cramer, Austin
Rohrbaugh and Munford Ellis. Both
Chairman Quail and J. Clarke Brown.
president of the club admitted today
that the outing will be the best in
many years
Real Estate Tops Program.
The final session FRIDAY of the Ma
tlonal Association of Mutual Savings
Banks, in New York, will be turned
over to consideration of the outlook
for real estate. Stewart Mcdonald.
Federal Housing Administration. will
speak, as will Chairman John H.
Fahey of the Federal Home Loan Bank
System, his subject being Better and
Safer Home Ownership"
About Is members of the Safe De-
posit Section of the District Bankers
Association will attend the annual con-
ventlon OF the national association. in
Philadelphia on May IL, 13 and IA. it
was reported in the financial district
today.
Today's Trading on Exchange.
Washington Railway g. Electric pre-.
ferred stock sold at 1927 on the
Washington Exchange today. Two
sales were recorded Other stock and
bond quotations were practically un-
changed.
The common dividend of Is cents
share on General Motors Stock, de-
clared yesterday, maintained the COM
pany's record of paying common divi-
dends in every quarter since 1923.
President Clement of the Pennsyl-
vania Railroad received a salary of
100000 in 1887, report to the Sc
curity and Exchange Commission
shows. With the recent resignation
OF L. F. Loree Of the Delaware g. Hud-
son, Mr.. Clement becomes the highest
paid railroad executive in the country.