Evening star., 1939-07-19
Washington Scores
12Per Cent June Gain
In Life Insurance
TotoI of S32,052, 900
Written in Half Year
Shows 8 Per Cent Rise
By EDWARD c. STONE.

IN WllTlWlnQ 1lIllSn 1OT tne IlTSJ
six months of this year, Washington
life insurance agents wrote II per
cent more new insurance during
June than in June, 1898, and pushed
up the gain for the half year to 8
per cent. The June Jump was dou
Bile the per cent increase for the
whole United States, but the half
year upturn was per cent under the
national average advance of II per
cent.
The Life Insurance Sales Research
Bureau, Hartford, reports that new
business in the Capital totaled S.
$1,000 in June, while the half year
figure reached $32 ,052 900. More
than half the companies, Sc per
cent. increased their business in
June in the Washington area.
Maryland agents wrote S7,874,0O0
new business in June, per cent
more than year ago, and S49,002,-
600 in the first half year, up per
cent, or the same gain as Washing
ton registered.
Virginia agents hustled around
and got S6,9l6 900 paid-for business
in June, 5 per cent better than a
year ago, and in the first half year
wrote S44 $40 900, which was 9 per
cent above 1888 West Virginia was
up 2 per cent in June and per cent
in the six months.
Policies in the whole Nation in
June totaled s524925OO and in the
half year the huge sum of $3391.-
100000; in the South Atlantic area
S5l. .l34 900 in June and S3ll .397 900
in six months. up and per cent
respectively, the Hartford summary
reveals. New England led the coun-
try in June and the half year with
% and % per cent upward bounds.
Detroit led all the leading cities
with 81 and Al per cent advances,
with Boston second and Chicago a
close third.
Maryland Gets Trust Statute.
At the 1889 session. the Maryland
Legislature enacted a statute gov
, ernlng commissions to trustees of
testamentary and living trusts. This
is the first time that Maryland
fduciaries have had a statute on
the subject, says Trusts and Estates
magazine
The outstanding feature Of the
law is the fact that commissions are
based both on income and on corpus
and charged respectively. A COM
mission of per cent is allowed on
all income from real estate, ground
rents and mortgages collected each
year; per cent on the first $4,000
of all other income, and so on down
to per cent on income in excess of
100000. An annual corpus charge
OF one-elghth of l per cent on the
first S500,000 and one sixteenth of l
per cent on excess is allowed.
ID. c. League Plans Outing.
Edward G. Baltz, chairman of the
Outing Committee, told the Execu-
tive Council of the District Of Co.
lumbia Loan League yesterday, at a
luncheon at the Raleigh, that, every
thing is in readiness for the outing
at the Washington Golf and Country
Club next Wednesday.
A feature will be the first annual
golf tournament held under the au-
spices of the league. C. Gay Harrell
OF the Columbia Building Associa-
ton promises that a large number
of league members will take part.
Chaplin Bauman, president of the
Oriental Building Association, has
garnered many prizes, with a man.
moth silver trophy offered by the
Washington Title Insurance Co. as
the major incentive.
Preceding the dinner, members
will compete in swimming events and
In a putting contest, for which prizes
have been secured. A distinguished
guest list. including members of the
Federal Home Loan Bank Board and
other Government financing agen-
Cies, will attend the dinner. Accord
ing to Chairman Baltz, arrange
ments have been made for the ladies
OF the league to arrive later for
music and dancing.
Arthur G.. Bishop, president of the
league, and Carl J. Bergmann, chair
man of the Reservation Committee
said today that every one of the %
associations belonging to the local
group will be represented by officers,
directors or employees
Peoples Drug Common Rises.
On the New York Stock Exchange
yesterday Peoples Drug Stores COM
mon stock made a new 1889 peak, !
reaching 1913 making almost a l6-
point rise so far this year. The
new mark was established on COM
paratively light sales.
Another stock on the New York
exchange, in which there is spe-
. cial local interest. is National Dairy
Products. On Monday National
Dairy was one of the 10 most active |
stocks in the whole list, closing
at l7l2 on turnover of more than
1000 shares. The stock closed yes
terday at 17l2 on a lighter volume.
The company has two units here. |
Chestnut Farms and Chevy Chase
Diaries
While brokers are hesitant in at
tempting to predict what New York |
stocks may do in the near future, |
there is a great deal more optimism |
In the Offices than in several months. |
The number of people watching the
market has increased tremendously. |
Rural Sales Smash Records.
Daily average sales Of general !
merchandise in small towns and
rural areas for June were higher |
than for any like month since June, |
1929, which they equaled. Sales
were l3 per cent above June of last |
year and about per cent above
June. 1887. These changes were re-
corded by the Bureau of Foreign !
and Domestic Commerce.
Sales for the first six months of
the year were 1919 per cent above
the corresponding period of 1898.
Total dollar sales without allow |
ance for the number of business davs
were about 1872 per cent larger in
June this year than last.
Heard in Financial District.
President Roosevelt, at his press |
conference yesterday. humorously |
stated that he is neither short nor