Evening star., 1938-08-27
INSURANCE MEN
TO Be HON0RED
Gilmore and Sugar Pass
Examinations for c. |. U.
Degree at Houston.
By DONALD b. HADLEY.


Robert C. Gilmore of the Bankers
Life Insurance Co. and Samuel j..
Sugar of the Penn Mutual Life In
surance Co., will be among lis candi-
dates from over the entire Nation to
receive chartered life underwater
&C. L. W certificates at the confer
ment exercises of the American College
Of Life Underwriters in Houston Sep
tember %
d Announcement of the honor for the
Capital agents was received by Bernard
L. Wilmer. member of Chartered Under
writer's group here, from the college
at Philadelphia The conferment will
make the agents eligible for election
to the Capital Chapter of Chartered
Underwriters at its next fall meeting.
The college was established by life
insurance leaders for the fourfold
purpose of Cd establishing an educa-
tional standard for the profession of
life underwriting; (2) encouraging and
fostering training of students in edu-
cational institutions for the career of
professional life underwater; 90 CO.
operating with educational institu-
tions in general life insurance educa-
ton and a. recognizing properly
qualified life underwriters with pro-
feSsional designation.
Examinations were recently held in
78 colleges and universities. Eleven
hundred and fifty candidates took the
examinations for chartered life under
writer certifcation and % took those
in life insurance agency management.
The examined candidates represented
237 cities and towns in 43 States, the
District of Columbia and Hawaii
Of those who took the chartered
life underwater &C. l.. u examina-
tions. lis passed everything. The
diplomas for 81 others who passed
all of the examinations will be de-
ferred until the college receives evi-
dence that they have had at least
three years of satisfactory life in
surance experience. Certificates of
proficiency are being awarded to five
candidates, and certificates in life in
surance agency management to seven.
Preferreds Prohibitive.
The current scarcity of high-grade
bonds and the low yields they now
provide have driven the better prefer
red stocks to prohibitive highs. Here,
for example, are yesterdays quotations
on half dozen preferred stocks which,
until these shutout prices were at
tanned in the last few days, have been
eagerly sought in Virginia because
they are legal for trust funds in that
State
Most of them are now selling we'll
above the prices at which they may
be called for retirement
Continental Can Co. $3.50 preferred
was l1112 bid at the opening this
morning, with no stock offered. The
call price is no
E. I. du Pont de Nemours $3.50 pre-
ferred was quoted ll7s4 bid and 1875
asked. 1t is callable at lis.
General Foods $3.50 preferred opened
at 113 bid and 1l412 asked 1t may
be called at no.
General Motors $500 preferred was
123 bid and 124 asked. at the opening.
1t is redeemable at 120.
Monsanto Chemical Co. $3.50 pre-
ferred was offered this morning at
lis. with bid of 112. The call price
Is Ito.
American Tobacco Co. Sc preferred,
which is non -callable, was wanted at
l4712 when the market opened today,
but no stock was offered at any price.
Scramble for New Issues.
The force of investment funds seek
ing an outlet also has produced some-
thing of scramble for attractive new
issues.
In regard to the Lone Star Gas and
Commonwealth Edison convertible
issues offered Thursday, one banker
here pointed out his institution was
able to buy only little more than a
third of the amounts desired Both
issues were soon sold and went to q
premium
Orders for Phillips Petroleum con-
vertible debentures, an issue not
scheduled for offerings until after
Labor Day, are being placed here on
when-as- issued basis. Much
interest also has been shown in the
Youngstown Sheet &, Tube convertible
issue. due after Labor Day. for which
the coupon rate has not been set.
Strong demand for this type of issue
vas reported among Capital banks It
was pointed out that despite low yields
convertible issue offers the safety
features of bond and serves as a
protection against inflationary trends.
The conversion feature, if the stock
of the company advances, can produce
substantial profit.
Financial District Notes.
Friends of E. c. Graham, president
of the Hamilton National Bank, will
be glad to hear that he will be able
in few days to leave Garfield Hos
pital, where he has been recovering
from broken leg received on his vaca-
tion in Florida. He plans to spend
some time at his home in Arundel-on-
the-Bay.
Chris Gockeler, assistant vice presi-
dent of the Hamilton National Bank.
will return Monday from three weeks
vacation in his cottage at ventnor,
N j.
c. e. Hall of the w. B. Hibbs g. Co..
staff is back at his desk with a good
coat of tan after a vacation, part Of
which he spent at Hanover, Pa.
FOREIGN EXCHANGES.
NEW YORK Aug. 81 LP,.-Signs of an