Evening star., 1938-04-25
INSURANCE SALES
DROP IN DISTRICT
Slump of 38 Per Cent for
March and rs Per Cent in
Quarter Reported.
BY EDWARD C. STONE.

Dy LDNVAA y.
Washington life insurance agents
hustled around in March and wrote
1920, 900 in new business, but this was
80 per cent less than the total for
March. 1887, the Sales Research Bu-
reau at Hartford reported today For
the first quarter of 1888 business in the
Capital totaled $l4,65l 900, 26 per
cent drop from the 1887 record for
the corresponding three months.
The March average for the whole
country was off "a per cent from
March, 1887, but the average for the
first three months of this year was
down only l8 per cent from last year
Business in the United States in
March totaled S568,473 900 and in the
first quarter $3.50, ,s9l 900
Maryland wrote S8,63l 900 in March,
business being off 10 per cent from
March year ago. In the first quar-
ter Maryland business was down only
6 per cent. Virginia reported $7.046.-
600 in new policies in March which
was l3 per cent less than the volume
for March, 1887. For the three
months sales we're off only 10 per
cent.
In West Virginia agents wrote
S5,l 5000 in March, within 6 per cent
of the record a year ago, while busi-
ness for the quarter amounted to
Sl3.093,o 900. within Is per cent of last
years mark. North Carolina and
South Carolina were also under their
March and quarterly records of last
year.
Comparisons by Cities.
In city comparisons Washington
made a poorer showing in March
percentages than Boston, Chicago,
Cleveland, Los Angeles, New York,
Philadelphia and St. Louis and
just the same as Detroit. In the first
quarter Washington was ahead of
Cleveland, Detroit, New York and
Philadelphia. Detroit made the poor
est record with drop of 35 per cent.
While the general trend in the first
quarter was downward, the report
shows six States are still ahead Of
last year. They are Kentucky, Ne
vada, North Dakota South Dakota,
Texas and Utah. The States making
up the South Atlantic section fell
behind by Is per cent in the three
months, the review reveals.
The Hartford report includes
summary of ordinary life insurance
in force by States as of December 81,
1887. exclusive Of group Washington
volume being estimated at S634 642 900,
gain Of per cent over 1886: Mary
land 81 89,O37,o 900. up 3 per cent
Virginia s977,O62 900, up per cent
Banks Study Installment Rules.
Approximately SO Virginia bankers
attended the first annual meeting of
the Bankers Discount Conference of
Virginia in Richmond in the board
room of the Morris Plan Bank of
Virginia. NJ E. Bristow. commits
sioner. and w. R. Gardner, examiner
in-chief, of the Virginia State Bank
ing Department were also present
Mr.. Bristow said that the State
Banking Department had never off,
cred any suggestion that met such
widespread approval as the formation
of the conference, whose purpose it
is to set up standards for the dis
counting of installment paper
Auditors Laud Conference.
Members of the Auditors Section of
the District Bankers Association we're
back today from the Philadelphia
regional conference of bank auditors
and controllers. All we're enthusiastic
over the many practical ideas pre-
sented at the tWo-day session. The
Washington delegation was COM
posed of:
Harry L. Downey. Arthur c. Marx,
Arthur ]. Linn. James D. Barrett,
w F. Orrison, jr.; Harold w. Denni-
son, John E. Monk, William B.
Mehler. jr.: j. S. Lingebach. Millard
S. Yeatman, James c. Elgin. w. M.
Harris, Lawrence G. Grimes, Louis K
Lynne. Audley A. P Savage. Gerald
E. Keene, Walter M McCurdy, j.
Arthur Cromwell. w M Offutt and
Louis E. Thomas. J. Forbes Campbell
and A. J. Walden also attended
Hot Springs Trip Success.
Thomas j. Groom, president of the
District Bankers Association; other
association officers and chairmen of
all the convention committees for the
June meeting returned early today
from Hot Springs, Va, where they
passed the week end making plans
for the annual conclave at the Home
stead. They reported every detail
settled, the hotel and surroundings
more attractive than ever and the
outlook bright for an unusually large
attendance.
Members of the District Life Under
writers Association are planning to
turn out in force tomorrow noon for
the testimonial luncheon for Morton
H. Wilmer at the Mayfower Hotel.
Mr. Wilmer leaves here shortly to be-
come general agent in Philadelphia of
the State Mutual Life Assurance Co.
Howard With Bank so Years.
William E. Howard, one of the as
slstant cashiers of the National Bank
of Washington. is just rounding out
so years service with the bank. In
honor of this long and valuable service,
President ]. Frank White, all the
other officers and all the clerks are
giving him a testimonial dinner to-
morrow night at the Continental
Hotel. He was born and educated in
Washington, although he now resides
in Hyattsville, and has made a most
enviable record in banking
The Federal Reserve Board reports
that department store sales in the
District for the week ended April 16
were % per cent ahead of the cor
responding week last year This is
far ahead of the national average
gain of per cent. Only the Atlanta
district made better showing among
the IL districts. Much of the gain
was due to the late Easter.
Y. E. Booker. member of the Board
OF Governors of the Investment
Bankers Association, will attend the