Evening star., 1938-02-14
0'Connor Reports Marked
Progress Made During
Last Fiscal Year.
BY EDWARD C. STONE.

VcStHcHLS VI Sf5,S fl,olo,UUu, WHICH
amount exceeded by .273623, 900.
or 262 per cent. the figures reported
as of June 80, 1886, when there were
15,so3 banks.
Cash, balances with other banks,
and reserve with reserve agents of
$15,62s,614,000 increased in the year
S506 .233,000. or 3.35 per cent, and
the total assets amounting to s6s,-
941 ,06s,0oo increased $l,742, ,48S, 900,
or 2.59 per cent.
The total deposits in 1887 were
$59,822.3 10000 and showed a rise of
$1,482,555. 900, or 254 per cent in the
year Although the total of capital
stock, capital notes and debentures
Of $3,250. .650.000 showed reduction
of 1881 ,109 900, or 499 per cent, due
primarily to decrease of 223 in the
number of banks and the retirement
OF preferred stock and capital notes
and debentures, the combined total of
surplus, profits and reserves of $4,-
985, ,78l 900 had increased $435,9l4, 900,
or 9.58 per cent.
The ratio of loans and discounts, in
cluding overdrafts, to total deposits on
June 80. 1887. was 1894 per cent, CON-
pared to 3572 per cent on June 30,
1896, Controller OConnor stated.
Insurance Records Broken.
At the ninety-fourth annual meet
ing Of the New England Mutual Life
Insurance Co.. President George Will
lard Smith reported that during 1887
the new membership and the new in
surance, amounting to Sl56, ,642 000
were greater than in any other year;
that the insurance in force climbed
close to 1l2 billions, sl,47l ,806 900, a
record total, and that there was a
large increase, s26671 900, in the
asset structure, which is now s4O2,-
$4,000.
President Smith stated that the
principal income was, as always. from
premiums on insurance and annuities,
amounting to S56,929 ,0O0 Second
was the amount received in interest
dividends and real estate rentals,
$15,922, 900, an increase of over half
a million. Payments to policyholders,
beneflciaries and annuitants were s35,-
273,000, which is $4,000 greater
than in 1886.
From the earnings OF the year of
$10,996, 900, the directors voted s1O,-
100000 for dividend distribution dur
ing 1888, compared with s9,5OO,OOO
voted for 1887.
Earle w. Sapp, Washington general
agent, reported very fine business in
this territory during the year.
Today's Trading on Exchange.
Capital Transit stock opened the
week selling at 80. on the Washing
ton Stock Exchange Later 143 shares
and IS shares sold at 8l,, the largest
turnover in long time
Potomac Electric Power 51s per cent
preferred came out at 11O12, Wash
tngton Gas preferred sold at &c. SO
shares of Railway g. Electric preferred
at 10 and one sale in City g. SUBJ
urban IS was recorded at 81, up from
the last sale at 55.
Attend Richmond Banquet
Among Washington bankers attend
ing the annual banquet of Richmond
Chapter. American Institute of Bank
ing. Saturday night, were George O.
Vass, I. ]. Roberts. J. R. Mcmillan,
Riggs National James A. Roper.
George M. Rowzee, George Galleher
Lincoln National; Wilmer J. Waller,
Walton L. Sanderson, Hamilton Ma
tional; James E. Dulin, jr., American
Security & Trust Co.; Erward M.
Blaiklock, Washington Loan & Trust
Co.; Joseph r. Fitzpatrick, Second
No NEre
Liberty National, and Francis E. Robey.
Bank Of Commerce & Savings. The
dinner drew a capacity crowd to the
John Marshall Hotel, in fact, almost
more than capacity.
Agency Supervisor Named.
John L. McElfresh, general agent
for the Connecticut Mutual Life In
surance Co. in Washington, announc-
ed appointment of Edward H. Won
Deck as agency supervisor at a
luncheon held today at the Hay-Adams
House. Guests included Fred o. Lyter,
assistant superintendent of agencies;
Leon r. Case, who spoke on Quality
Production" both of Hartford;
Andrew West of the Federal Housing
associates of the local agency
Mr.. Won Deck has been associated
with the agency for nine years, dur
ing which time he has served as
agency cashier. district agent for Vir-
ginia and special representative in the
Washington office.
Thirty Statesmen H0nored.
Recognition will be accorded 80 elec-
trio appliance salespeople by the Gen.
eral Electric Supply Corp. this eve
ming, when they will be presented with
gold pins nd made members of the
General Electric's national club, COM
posed of employees who have made
remarkably good sales records during
the past year. Those due for awards
are:
j. G. Brooks, J. Donnelly, Hyman
Goodbinder, E. r. Hodges. c. E. Kel-
ley, w. T. Adkins Mrs, G. NJ Bruins,
e. Bryan, G. w. Cabell, j. c. A. Cam
eron, S. Carroll, ST.; j. Clayton, H. c.
Diamond, D. H. Donaldson, v. D. East
wood, D. j. Hill. M. Miles, Mrs E. T.
Modett, Jack Morton, L. B. Perkins,
Abe Rice, G. c Shikle, A. P. Shanklin,
K. Smith, E. Reasoner. M. Thorington,
j. Tribe. B. NJ Warner, Mrs. E. l..
Wrenn and H. E. Marschalk.
Financial District Notes.
Election of Arnold P. Jorgensen,
partner in the accounting firm of
Horwath g. Horwath, 1919 F. street
NV, as q member of the American
Institute Of Accountants has been
VI
tary of the institute.
Election of Vinton E. Lee, partner
In the accounting firm of Lee. White
& Co., 724 Investment Building, to be
an associate in the institute also was
announced.
Since May, 1888, when the joint
stock land banks went into liquidation
as required by law, they have dis
posed Of about so per cent OF their
assets, and so far have retired 66