Evening star., 1938-10-22
INSURANCE SALES
LAG BEHIND 1887
$3,935,000 Months Total
Reveals Decline Is Being
Narrowed.
BY EDWARD C. STONE.


Life insurance sales in Washington
In September were 20 per cent under
the corresponding month a year ago,
the Sales Research Bureau, Hartford,
reported today. This is a better show
ing than in the first nine months of
the year, when business in the Capt.
tai was rs per cent under last year.
Policies written in September to-
tailed the substantial amount of S.
935,000 and in the first three quarters
of 1889 totaled $43.Ols,OOO. Sales in
the whole country reached total of
S428,4S2,O00 in September, off II per
cent from last year, and in the nine
months ran to the high sum of 81, AGO.
$4,000, which was 81 per cent less
than the amount written in the same
period year ago.
Virginia made the best showing of
any nearby State in September, COM
Ing within 6 per cent of the mark a
year ago. Sales totaled s5,986 900.
This is much better showing than
the nine months average drop of is
per cent. when policies were written
totaling $59,l92,000.
Maryland wrote S5892, 900 in new
policies in September, which was IT
per cent under September, 1887. In
the nine-month period new business
totaled s64,196, 900, off 16 per cent
from year ago. Business in West
Virginia was down 80 per cent in Sep
tember and % per cent in the nine
months.
In the monthly figures Washington
stands ahead of Cleveland and De-
troit but not up with Boston, Chi
cago, Los Angeles, New York, Phila-
delphia and St. Louis. In the nine
months the Capital is ahead of Cleve-
land, Detroit, New York and even
with Philadelphia, but behind Boston,
Chicago. Los Angeles and St. Louis.
The Hartford report concludes with
the statement that sales in September
remained very close to the August
levels.
New Peaks on d. c. Exchange.
The past week witnessed unusual in
terest in trading on the Washington
Stock Exchange. Selling at 88. Ana
costa g. Potomac River r. r. SIS,
1949, reached a new high price for
1888.
City g. Suburban SIS also appeared on
the board at 8S. also new high mark
for these bonds, which at one time
this year sold as low as SIS. This
weeks sale also recorded a gain of
10 points over the last previous trans
action. The prices paid for both the,
bonds have been very materially
changed by recent court action taken
to establish liability for their pay
ment when they become due
Anacostia g. Potomac River R. R.
guaranteed IS figured in $1,000 turn
over yesterday at l1014 While there
has been a long standing bid of ITO
for the bonds. the sale at 11014 aroused
unusual interest
Sales in Washington Gas Light pre-
ferred at 101 were close to the high
for 1888. In moving at Sc Terminal
Refrigerating g. Warehousing Corp.
stock was back to a previous high
reached earlier in the year Mergen-
thaler Lintoype gained a point, while
Security Storage was lower than on
the last previous sale.
Trading was extra heavy in Wash
lngton Railway g. Electric preferred.
with so and 20 share lots commanding
ll2h.
Loans to Business Grow.
Banks are helping pretty well'' in
the making of industrial and business
loans, Chairman Jesse Jones COM
nented here in making public figures
for seven and one-half months of
operation, showing S28.0oo.o00 in
loans, either as participations, or
"taken over" from the Reconstruc-
ton Finance Corp.
At the end of February, when Con-
eress empowered the R. F. c. to
resume direct loans to business until
the middate of this month 4,2s6
loans aggregating S693,80 ,566 we're
made. OF this number, 1913 loans,
aggregatirg s128 ,66s, were to busi-
ness. including S3,969,762 later taken
up by the banks. Mr. Jones said.
Banks participated in 915 business
loans to the extent of S28O43, ,397,
making a total of s153,068.3O4 loans
to business, according to the chair
mans statement.
Southern's Earnings Better.
Holders of Southern Railway stock
are following closely latest reports on
revenues.
Gross revenues of Southern Rail-
way in the first two weeks of October
were approximately $350,OO0 larger
than in September and $4,000 ahead
of the first two weeks of October,
1887" Ernest E. Norris, president, said.
September operating revenues are
estimated to have totaled S8,25OOOO
an increase of $4,000 over September,
year ago. In August, 1888. company
had net income of $100,550 on gross
revenues of $7,727,626
Some 1000 of the 5,726 freight cars
ordered several months ago have been
delivered to the company, Mr.. Norris
said.