Evening star., 1939-08-18
Life Insurance Sales
In Capital Below
1888 in July
Seven Months Volume
Remains ; Per Cent
Above Year Ago
By HAROLD B. ROGERS.

Although July life insurance sales
in the District of Columbia fell
below the record for July last year,
the first seven months of this year
made a substantial advance in such
sales over the comparable 1888
period.
This was disclosed by Life In
surance Sales Research Bureau of
Hartford in figures showing that the
country as a whole had similar
trend, with July dropping to SO per
cent of July 1898, but the first seven
months of this year climbing to 107
per cent of last years period.
In the District of Columbia sales
volume for July was reported at
$4,262,0O0, which was 81 per cent of
the same month in 1885, Despite
the drop, A per cent of the COM
panies registered gain during the
same period.
Sales for the first seven months
lOSC W 0CO.O1f,OOO, "lllSll "oo
103 per cent of the comparable 1898
period.
Revised ratio for the first six
months of 1889 for the District of
Columbia showed it stood at los per
cent of the 1888 period
Maryland reported sales of S.
10000 in July, which was SO per
cent of July, 1888, and sales of S54,-
791 900 for the first seven months,
with a ratio of 103 per cent of the
1888 period.
Virginia reported sales of $685.
900 in July this year, which was SO
per cent of July, 1888, and sales of
S5O5O5 600 for the first seven
months, which was 107 per cent of
the 1888 period.
Hanes Letter Hailed.
Financial circles today informally
welcomed the invitation OF Acting
Secretary of the Treasury Hanes to
submit suggestions for revision of
the internal revenue laws on both
individual and corporation taxes.
Hanes is sending letter to hundreds
of leaders in all important fields of
endeavor in order to get survey of
public tax opinion" to present to
the House Ways and Means Sub
committee beginning November l.
The committee has been authorized
to revise taxes.
Gibbs Lyons, we'll known here as
former Deputy Controller of the
Currency, has been ordered trans
ferred from his post of national
bank examiner in charge of the dis
trict with headquarters at Atlanta
to the important district with head
quarters at New York City, begin
ming October l. No change was
made in the Office of chief national
bank examiner at Richmond for this
district. Several other regular shifts
were ordered by the Controller of
the Currency, in line with policy of
making such changes from time to
time.
The Treasury is floating another
issue of Treasury 91-day bills, to
be sold on a discount basis to high
est bidders on offers received up
to 2 pm. Monday by Federal Re
serve banks.
Watson Is Honored.
Thomas j. Watson, president of
International Business Machines
Corp, which has Offices here, has
been decorated by the governments
of Hungary and Indo-China accord
ing to advices reaching Wash
ington.
The decorations, the Gordon of
the Grande CroiX of Hungary and
the Grande CroiX de Cambodge,
were conferred upon Mr. Watson by
Pierre Vasseur, secretary general of
the International Chamber of Com
merce, on behalf of the minister of
foreign affairs of Hungary and of
the King of Cambodge. The pres
entation took place in Geneva,
Switzerland. Mr.. Watson, whose
term OF office as president of the
International Chamber of Com
merce expired last June, is also a
trustee of the Carnegie Endowment
for International Peace and chair
man OF the American Com
mercial Arbitration Commission.
S173,S32,S3O Paid.
Life insurance companies of Amer
lea In 1888 paid out a total of Sl73,-
S32, $3.50 to living policyholders on
endowment policies which matured
IN that year, according to a COM
pilation in the annual message of
the Life Insurance Committee.
Capt. Charles R. Connolly, resi-
dent partner of Burr & Co., is wind
ing up his duties as an intelligence
officer attached to 29th Division
headquarters at the Battle of Ma
nassas.' He operated as liaison
officer between the division intelli-
gence section and some of the units
of the division in the field.
Corcoran Thorn, president of the
American Security & Trust Co., and
Mrs. Thorn landed in New York to-
day from six weeks North Cape
cruise" during which they visited
Iceland, Norway, Sweden and Den
mark. They will return to Wash
lngton soon and Mr.. Thorn plans to
be back at his desk Monday.
Leith Recuperating.
T. Hunton Leith vice president and
cashier of Security Savings g. Com
merclal Bank, who is recuperating at
Mount Alto Hospital from a recent
Illness, is expected to leave the hospl-
tai in about 10 days, and then go on
vacation
A group of employees of Security
Savings & Commercial Bank recent
ly enjoyed an outing and crab feast
at the country home of Joseph E.
Heffron, at Buena Vista, Nd, on the
PatuXent River.
Charles H. Doing. first vice presi-
dent of Washington Loan & Trust
Co., has returned from vacation.
Capital Transit stock sold at 1872
on the Washington Stock Exchange
today. The only other sale was
Mergenthaler Linotype, which turned
over at 1712.