Evening star., 1938-05-21
INSURANCE FIRM
HAS RECORD YEAR
Mutual Fires 1887 Income.
Assets and Surplus Are
Largest in History.
By EDWARD c. STONE.

released to policyholders yesterday,
gives in detail the operations of 1887
and the financial standing of the COM
pany last December 81.
An accompanying letter OF Secre-
tary L. Pierce Boteler. now in his
43d year with the company and re-
Gently reelected to Office for his 41st
term, states the amount of insurance
in force, the 1887 income and the as
sets and surplus, as the largest in the
company's history.
Mr.. Boteler attributed the progress
of the last three years to the modern
ization of the companys charter by
Congress in 1884. permitting the
issuing of non-aSsessable policies. The
company has been writing windStorm
and additional lines of insurance by
an extended coverage or supplemental
contract attached to policies.
Other officers of the company are
Charles Kattelmann, president; H. E.
Bittinger, treasurer and William Reed
Macgill. assistant secretary. Directors
are Messrs. Kattelmann, Boteler Bit
finger, Charles NJ Boteler, Charles F..
Crane, William K Hill and Robert
E. Buckley.
April Life Insurance Drops.
New life insurance policies written
In Washington in April totaled $4,947,-
900, a decrease of "a per cent over
April year ago, according to the Life
Insurance Research Bureau at Hart
ford. During the first four months OF
this year new insurance written in
the Capital totaled $l9,598,000, this
substantial sum being % per cent
lower than last year.
Both the April and four months fig
ures compare favorably with other
leading cities. The June figures are
ahead of Cleveland and Detroit. but
are under the marks set by Boston,
Chicago, Los Angeles. Philadelphia
and ST. Louis and just the same as
New York. In the year to date Wash
ington and Philadelphia have the same
percentage records. The Capital IS
ahead of Cleveland, Detroit and New
York, but now quite up with Boston,
Chicago, Los Angeles and st. Louis.
The percetange average for the
whole country in April was off q per
cent, but new business amounted to
s499, ,656 00O For the four months
business was down only 81 per cent,
the sales volume reaching S2050,647.-
600. The South Atlantic section is
now within 18 per cent of last years
record.
Maryland agents wrote S7,7l6,000
new business in April off Is per cent
from last year. and in the four months,
s3l, 10000, down IL per cent from
1887 April business in Virginia to-
tailed $6,7530O0, within 20 per cent
of a year ago. while in the longer
period policies totaled S27,149,000 and
only 13 per cent under the 1887 mark.
West Virginia and the Carolinas also
did less business in April and the four
months than a year ago, the COM
parsons running about the same as
the other States.
Spaid's Death Shocks Friends.
Friends in the financial district were
shocked beyond expression over the
death of w. w. Spaid, senior partner
in the brokerage firm of w. B. HibbS &
Co., which occurred in New York last
night.
He was one of the leading brokers
in the District, former president of the
District Bankers Association, former
president of the Association OF Stock
Exchange Firms, organizer and former
president of the Association of Out-of-
Pown Stock Exchange Firms, firms
which have their head offices outside
of New York; had served on many
New York Stock Exchange committees
and on many Washington civic COM
mitteeS.
He was one of the first presidents
of Washington Chapter, American In
stitute of Banking, and never lost
his interest in banking education. He
was always student of finance.
While he was known to have high
blood pressure. he took excellent care
of himself and his condition was not
considered serious by his friends. He
leaves four partners in the HibbS frm.
Associates Honor Bradfield.
George K. Bradfield. who has been
connected with the Washington Office
of the ohns-Manville Co. for many
years, was made member OF the
company's Quarter Century Club at
a dinner at the Lafayette Hotel Thurs
day evening" Many officials from the
New York and Philadelphia offices |
were present.
On behalf of Louis H. Brown. presi-
dent of the company, Robert c. Sim
mons presented Mr.. Bradfleld with a
gold watch. The club was organized
in 1929 and now has 295 members who
or longer. During his long service
with the company in Washington Mr..
Bradfield has become member of
many clubs and scientific societies, in
cluding the Army and Navy Club.
Rural Sales Of in April.
Daily average sales of general mer-
chandise in small towns and rural
areas for April were about tx per
cent below April, 1887, according to
estimates of the Bureau of Foreign
and Domestic Commerce, Department
of Commerce, based on rural chain
store and mail order sales. Sales for
the first four months of the year were
per cent below the same period of
1897.
New life insurance sold by the
Washington, D. c., agency Of North
western National Life Insurance Co.
in the first four months of 1898 was "a
per cent greater than the volume for
the corresponding period Of 1887, R.
M Plake, general agent, reported at
a home office conference in Mime
apolis of the company's general agents
and managers from all over the coun-
try.