Evening star., 1939-05-18
Life Insurance Off
In April but Gains
In -Four Months
Sales in Washington
So Far This Year
Are Up II Per Cent
BY EDWARD c. STONE.


the Life Insurance Sales Research
Bureau, Hartford, reported today.
Washington agents wrote $4,684.-
900 in life policies during the month
and $21 ,735 900 in the four-month
period. The Capital fell behind the
record for the whole United States,
which showed exactly the same sales
total in April this year as a year
ago. In the first four months the
national average revealed a gain of
Is per cent, per cent higher than
the Washington figure. The national
sales volume for the four months
was placed at $2,334 651 900.
Maryland made good showing,
the April total of $7,905 900 being
per cent better than last year, and
the month total of S33 ,394000
showing a gain of per cent. New
April insurance in Virginia reached
S6,157 900, off II per cent from the
same 1888 month, but the $50 ,378,-
900 total for the four months was
10 per cent above the 1888 mark.
West Virginia was per cent
ahead of last year in the four
months, North Carolina was up
per cent and South Carolina, per
cent. In all three States the April
returns were under last year. The
South Atlantic section was off
per cent in April. but up per cent
in the four months, the report said.
Washington was ahead of New
York in the first four months of
this year but Cleveland, Detroit,
Los Angeles. Philadelphia and st.
Louis did better in April. The
per cent drop in Chicago was the
same as the record here.
Benson to Attend Dinner.
Philip A. Benson, president of the
American Bankers Association, will
be a guest of honor at tonight's
dinner of the District Bankers As
sociation at the Columbia Country
Club. Harold Stonier, executive
manager of the A. B. A, also will
be present, it was announced today
by President Hilleary G. Hoskinson.
About $50 bankers have made res
ervationS.
Another special guest will be P R.
Williams, president of the savings
bank division of the A. B. A. who
is vice president of the Bank of
America, Los Angeles. He is in the
city to testify before the House
Banking Committee. He said yes
terday that the proposed amend
ment in the teagall-Wagner bill,
MI
loan associations to make all types
of first mortgages, is "a dangerous
procedure, likely to completely
change the character of the insti-
tuition. We do not believe this trend
is in the public interest" he as
serted.
Regular, Extra Dividends.
At a meeting OF the board of di-
rectors of the Lincoln Service Corp,
industrial bankers, held yesterday,
the regular quarterly dividends on
the 6 per cent cumulative partici-
pating preferred stock and the 7
per cent cumulative prior preferred
stock were declared.
The directors also declared an
extra dividend of 25 cents per share
together with the regular quarterly
dividend on the common stock.
All dividends are payable June II,
to stockholders of record as of
May 81.
Alfons B. Landa and Robert P.
Smith we're elected to membership
on the board of directors. Mr..
Landa is partner of the law firm
of Davies, Richberg, Beebe, Busick
and Richardson of Washington. Mr..
Smith is member of the law firm
of Smith, Deibert and Ristig. Wash
tngton.
Resolutions were also adopted ex-
pressing condolences on the recent
death of Admiral Mark L. Bristol,
a director and member of the Ex-
ecutive Committee of the corpora
ton for several years.
The corporation, which operates
Is units in Maryland, Pennsylvania,
Virginia and West Virginia, an
nounces the opening of two new
offices within the past month at
Johnstown, Pa, and Danville, Va.
Durant Insurance Chairman.
Armand Durant, manager of the
Connecticut General Life Insurance
Co.'S Washington office, has been
elected chairman of the managers
section of the District Life Under
writer's Association, succeeding
Charles w. O'Donnell of the Pru-
Dental Co. of America. Mr.. Durant
was secretary of the section this
year At the same luncheon meeting
at the Hamilton Hotel, John D.
Marsh, manager of the Lincoln Life
Insurance office here, was elected
secretary Of the section.
At tonight's meeting of the audi
tors section of the District Bankers
Association, Richary R, Quay will
speak on Problems and Procedures
in Connection With Loans Insured
Under Title and Title II of the
National Housing Act" and j. E.
Heberle will have as his subject,
Are Your Employees Informed About
the Company's Business?" Chair
man Gerald E. Keene will preside.
Bank Staff Has Outing.
The Personnel Club of the Wash
tngton Loan & Trust Co. gathered
in Rock Creek Park yesterday after
noon for the first picnic of the sea-
son. The feature of the occasion
was a softball game with the team
from the National Bank of Wash
ington, both banks being members
of the Bankers Softball League,
The game was won by the trust
company, but the losers were guests
at the supper which followed.
Over 100 bank employees and their
families were present. Herbert D.
Lawson, president, announced that
the next meeting would take place
at Bay Ridge on June 10. The
Women's Committee will gather this
evening at the Madrillon for a din
ner meeting.