Evening star., 1938-04-04


than likely. Wash III
ington was among r.,,,r 60. =
the cities in which
the weather was an important factor
last week. Baltimore also reported
that adverse weather retarded business
somewhat. but added that the ap-
proach of Easter had already lifted
the demand for spring goods. Charles
ton, S. c. reported a gain of 10 per
cent over the previous week due to
an influx of tourists and fine weather.
The Commerce report says many
cities elsewhere in the country showed
mild upturn in trade last week. The
tone of host of the reports making
up the summary was less peSSimistlc
than has been the case in recent weeks.
Many cities made no predictions, but
said conditions were distinctly en-
couraging.
Such was the tone of the sum-
maries in this territory. Easter trade
cannot be delayed much longer and
Is not going to be- according to a
study of the trends of the last few
days.
Associates Honor Paul Grove.
Paul F. Cove, jr, who led all sales
representatives of the Home Life In
surance Co. of New York in obtain
ing new business in the first two
months of this year, was paid special
honors by his associates today. Mr..
Grove is member Of tho Vernon w.
Holleman Agency here.
James A. Fulton, president OF the
company. made special trip from
New York to act as host at a testi-
monial luncheon at Hotel washington
this noon. The entire agency staff
and special friends of Mr.. Grove were
invited Mr.. Grove, who has been in
the insurance business IL years, was
formerly connected with the Depart
ment of Justice.
In addressing the life insurance men,
President Fulton urged three-point
program to correct present-day con-
ditions in the insurance field. Emphasis
on the volume Of new business should
be lessened. No policies should be sold
unless there is a definite reason for the
y
high pressure meaning too many
lapses.
Insurance statesmen should have
definite policies for solving real prob
lens for their clients, he said. The
quality of business written is more
important than the quantity. Finally.
said President Fulton, no man should
t>n into nf
life insurance business unless he has
reasonable chances of success and
sufficient training to serve the public
properly.
Loan Students to Celebrate.
Special celebrations to be held in
honor of the 10-year anniversary of
classes graduated from the American
Savings and Loan Institute, which has
chapters all over the country, will
begin this year, giving the Washing
ton chapter, which was formed in 1925,
reason to anticipate the commemora-
ton of its first graduation.
Those in Washington who received
the first diplomas included Scott M.
Rirdsong and julius a. MaeGel, both
from WaShingt ton Permanent Building
Association; F. Wilson Camp, secre-
tary-treasurer for the District Build
ing & Loan Association: R. L. Jones,
Northwestern Savings & Loan Asso-
citation; Thornton w. Owen, Perpetual
Building Association, and Mrs. Cora
L. Vowel, National Permanent Build
ing Association.
The institute is the educational and
research organization for the United
States Building and Loan League of
which E. c. Baltz of Washington is
president.
Bankers Plan Spring Dinner.
Invitations are being sent out by
President Thomas J. Groom of the
District Bankers Association to the
pre-convention dinner to be held at
the Columbia Country Club on We'd
nesday. May II. at 7:30 pm. About
200 bankers, bank directors and guests
are expected at the dinner.
S. William Miller, who has been ap-
pointed chairman of the Transporta-
ton Committee of the District Bank
ers' ASSOCIATE ton, has held several other
important convention committee
chairmanships. He is treasurer of the
Union Trust Co.
T. Stanley Holland, general con-
vention chairman, said today that
much interest is being manifested in
the June meeting, the recent invita-
tions having brought gratifying num-
Der of replies.
Crowds in Brokers' Office.
Monday morning found very large
attendance in the local Offices when
the New York Stock Exchange opened
today. Saturdays sharp rally was one
cause. American Telephone opened
strong. but some other issues were
lower than last weeks close
Hamilton R. Disston, vice presi-
dent of Philadelphia manufacturing
company. will be the guest speaker at
the April luncheon of the District
Life Underwriters Association at the
Willard Hotel tomorrow. He is very
popular as speaker before sales Or
ganizations. President Paul H. Primm
today predicted an exceptionally large
OuGClOlo Will Oe
mated to fill three vacancies next year.
From the six receiving the highest
support three will be elected at the
May meeting.
H. T. Bisselle and R. E. Haycock,
Riggs National Bank, and Ralph Endi-
colt and George NJ Fischer of the
Washington Loan & Trust Co. at
tended the reunion of the 1887 class of
the Graduate School of Banking,
Rutgers University, held at the Man.
haitian Club in New York Saturday
Sixty-seven of the 189 members were
present.
Today's Trading on Exchange.
Riggs National Bank preferred stock
sold at 102 on the Washington Stock
Exchange today. Other issues were
neglected.
Sales in So department stores in the
fifth district in February totaled ST.