Evening star., 1938-06-22

N 8$$$#$# OeCllIleQ 20 per
#M$$M# cent In the first
u M.thm. four months of
1898.
The average for the whole country
in May was decrease of "a per cent
over last year and 81 per cent for the
five months, the May figures also re-
vealing an upturn in the national
showing
Washington agents wrote IS ,205, 900
In new business in May and $24 ,8O3 900
in the five-month period With the
exception of Los Angeles, the May
record in the Capital was ahead Of
other cities such as Boston, Chicago,
Cleveland, Detroit, New York, Phila-
delphia and st. Louis.
The Capital showing was better
than Maryland's, which was of "a
per cent from May year ago, new
business totaling $7.l42 900 and $38,-
278.000 in the five months. this latter
figure being down only IA per cent
In May Virginia sales amounted to
$6,74l 900, off 26 per cent, and $33,-
100000 in the five months. only is
per cent under 1887
Mathus Talks on Insurance.
Kenilworth H. Mathus, advertising
manager Of the Acacia Mutual Life
Insurance Co.. told the District of Co.
lumbia Life Insurance Association at
the Willard Hotel last night that the
life insurance agent has taken on an
entirely different status in recent
years. No longer can it be said that
man goes into life insurance after
trying everything else.
The great improvement in the type
OF salesmanship. he added is due to
more careful selection of agents, COM
pany training courses, higher insur-
ance education. extension of fife in
surance service to include creation of
estates. partnership. group, retirement
insurance and pension plans.
Robert w. Griswold took over the
presidency of the association, sue
ceeding Paul H. Primm. The other
officers are Charles w. ODonnell. first
vice president; Graham E. Wilson,
second vice president: Theodore w.
Cook, treasurer, and Albert H. Jack
man, secretary.
The retiring president reviewed the
years activities and Harold ]. Cum
mings, vice president of the Minnesota
Mutual Life, expressed the appreciation
OF the life insurance companies for
the constructive work carried on by the
Washington association
Section Officers Nominated.
Irving Zirpel Union Trust Co., chair
man of the Fiduciaries' Section of the
District Bankers Association, an
nounced today that the annual elec-
ton of officers will take place Friday
afternoon at 4 o'clock in association
headquarters in the Bond Building.
Chairman Zirpel also announced
that the Nominating Committee has
selected 10 nominees of whom five are
to be chosen to the executive for the
year 1889, the list being as follows:
j. Eliot Moran. American Security &
Trust Co.; Bernard L. Amiss, Wash
ington Loan & Trust Co.; Harold A.
Kertz, National Metropolitan; Henry
K. Dierkoph, Riggs National: j. Wesley
Clampitt, jr., Union Trust Co.; Lester
A. Lawrence, National Savings g. Trust
Co.; Erskine Gordon, Hamilton Ma
tional; w. T. Vandoren, Liberty Ma
tional; A. J. Byrne, Munsey Trust Co.,
and Rutherford j. Dooley, National
Bank of Washington.
j. Eliot Moran has been vice chair
man of the section during the past year
and is slated to be elected chairman
Concern Has Wide Powers.
The new Mount Vernon Mortgage
Corp, with 3 per cent preferred stock
81 par value. cumulative as to divi-
dends after December 81, 1889, and
10000 shares of no par value common
stock, will go forward as an operating
concern with much wider latitude than
the old Mount Vernon Liquidating
Trust.
The mortgage corporation which
holds the remaining Mount Vernon
Savings Bank assets, can conduct
real estate and insurance business,
improve property, collect renewal COM
missions on loans and manage its
holdings. 1t will change the stagnant
assets of the old liquidating trust into
productive assets, and so manage them
that officials have hopes of paying to
all participating depositors of the old
Mount Vernon Bank at least the bal
ance of their deposit liability. so as
to pay off the depositors in full.
Banking Leaders to Meet.
Hilleary G. Hoskinson, newly elected
president Of the District Bankers As
sociation, has called a meeting of
the new Council of Administration to
be held Friday afternoon. This will
be the first meeting since the annual
convention at Hot Springs and plans
for the coming years activities will
be outlined.
The new council includes Mr.. Hos
kinson, Ord Preston, A. M. McLach-
len, Albert S. Galley, Francis H. Addi-
son, jr.; Wilmer J. Waller, A. Scott
Offutt, Robert H. Lacey, William B.
Willard. T. Stanley Holland and
Thomas ]. Groom, last years asso-
citation president.
Bank Enters Auto Financing.
The Morris Plan Bank has estab-
the purchase of new and used auto
mobiles, President Willard G. Barker
announced today, adding that the
bank has felt the need of this addi-
tional service for some time
Mr.. Barker announced that Fred
A. Palmer has been made head of
the department. A native og WASH
ington. he has had Is years expert
ence in this type of business. 1t is
understood that the loans will be
limited to 18 months maturity.
Dealers Plan Registration.
A program aimed at ultimate regis
tration with the Securities and Ex-
change Commission under the Maloney
over-the- counter measure Of a ma
tional association of investment bank
ers and security dealers was launched
at the Carlton Hotel by the Investment
Bankers Conference. Inc.