Evening star., 1938-07-22
INSURANCE SALES
DROP IN DISTRICT
Maryland Sets Best Mark
in This Territory in
June Survey.
By EDWARD C. STONE.

national average, according to the
Life Insurance Sales Research Bureau.
In the first six months of this year
the amount Of new insurance written
in the Capital was off 26 per cent
from the 1887 half-year record.
Today's Hartford report says that
Washington underwriters reported an
aggregate of $4,933, 1000 new policies in
June and total of $29, 1861 600 in new
business in the first half year. In
spite Of the June slump 36 per cent
OF the companies having offices here
did more business than they did in
June, 1887, the report says.
Virginia agents reported business
was off "a per cent in June, as COM
pared with last year, the volume to-
tailed $6,415, 900. In the six months,
$40,305, 900 in new business was writ
ten in the Old Dominion State.
Maryland made the best showing in
this territory in June. New business
amounting to S7,775,OO0 was only IA
per cent below the June, 1887, mark.
Volume was also down IA per cent in
the first half year. totaling $46,053 900.
Business in North Carolina was IT
per cent lower in June and 18 per cent
in the six months, compared with the
like periods in 1887. In South Caro-
lima life insurance sales were % per
cent lower than last year in June and
26 per cent in the six-month period
In spite of "a per cent decrease
In the whole United States, June sales
amounted to $500, ,588 900, and reached
the huge sum of So 3,O43, 1893 900 in the
half year.
Washington made the same June
sales record as Philadelphia and was
ahead of Boston, Chicago, Cleveland,
Detroit and st. Louis. Los Angeles
and New York did better.
Sherwood Heads Loan Group.
j. L. Sherwood was reelected presi-
dent of the Northeast Building As
sociation at the annual election of
officers held last night at association
headquarters, 2OlO Rhode Island ave-
nue. NE. At the same time all other
officers were re-appointed by the board
w. S. Torbert continues as vice presi-
dent and general counsel, H. C.
.. =.
secretary; A. E. Cowles, assistant secre-
tary; ]. E. Payne, treasurer. and H. r.
Engelbrecht, assistant treasurer
According to the annual report pre-
sented by Mr.. Symons, secretary, the
past year saw resources reach a new
high being in excess of $1,200,000
Organized in 1916 the association has
assisted property owners, particularly
in the Northeast section of the city,
although loans are made anywhere in
the District. Dividends have always
been at the rate of per cent, the
secretary said
Directors elected for the coming
year are the officers and j. F. Belfield
r. ]. Boehs, N. T. Chaconas, A. L..
Foster, ]. A. Openshaw, j. B. Rubino
and r. L. Swenson.
Lyme Joins Jones Staff.
Richard G. Lyme, former manager
OF the Washington Office of the First
Boston Corp, has become associated
with Robert c. Jones & Co., invest
ment dealers, with offices in the Shore
ham Building, it was announced to-
day. Mr.. Lyme has been in the in
vestment business 20 years and for
nine years handled institutional ac-
counts for the First Boston Corp
His territory included Washington,
Virginia, North and South Carolina
30 that he has many financial con-
facts in the fifth Reserve district.
Morris Plan Officers Moved.
Three changes in the staff of the
Morris Plan Bank of Virginia, effective
August l, have been announced by
Thomas c. Boushall of Richmond
president. Eugene B. Brewer, who
has been vice president in charge of
the banks Roanoke Office for the
past six years, is resigning to accept
the executive vice presidency of the
Morris Plan Bank of Oakland, Calf.
Thomas P. Parsley, now assistant vice
president and cashier of the banks
Petersburg branch, will succeed Mr..
Brewer. Linwood P. Harrell, now as
sistant vice president at Norfolk, will
replace Mr.. Parsley in charge of the
Petersburg branch.
Building Industry Cheerful.
The building industry is in a cheer
ful mood after looking at the I'LL
million-dollar pictures of the owner-to-
occupy residential activities during
the first six months of this year. It
has seen five substantial monthly in
creases in the number of families who
have decided to build their own homes
May and June finally broke through
the levels which were established in
those months of last year, the F. w.
Dodge Corp. reports. In the past,
observers have found that an i'm
proved private home building picture
usually has been followed by upturns
in buildings for sale and rent.
Today's Trading on Exchange.
Washington Railway & Electric pre-
ferred was out in front on the Wash
ington Stock Exchange today It
opened with three sales at 1927, fol-
lowed by two more at 1925, and
closed with 40-share lot going at
112 fiat.
Mergenthaler Linotype was strong
again today, two 10-Share lots chang
ing ownership at 26. Real Estate
Mortgage g. Investment preferred ap-
peared on the board at Az, off "a
from the last sale.
The bid on the newly listed Ter
minal Refrigerating & Warehousing
Corp 4K4 bonds was advanced from
101 to 10112 No sale.
Daily average sales of chain grocery
stores for June were about 1870 be-
low the dollar volume for June, 1887,
the Department of Commerce has an
nounced.
Heard in Financial District.
The Washington Loan & Trust Co.
lost a most respected and valued di-
rector in the death of George Ander-
son King, aged 83 years. He was the
oldest member of the board in point
Of years.
Roderic Peters of Washington, re-