Evening star., 1940-03-15
Life Underwriters.
To Hear Hartford
Expert al Dinner
Fourth Annual Event
Expected to Draw
More Than $50
BY EDWARD C. STONE.

More than $50 members and guests
Of Washington Chapter, Chartered
Life Underwriters, are expected to
attend the fourth annual banquet
this evening at the Carlton Hotel,
when John Marshall Holcombe, in
surance expert of Hartford, Conn.,,
will be the guest speaker.
This will be the largest dinner yet
held, the guest list including many
high Government officials, several
Senators, leading bankers and other
businessmen in the city and num-
Der of presidents of life insurance
companies which have important
agencies here.
Tie Chartered Life Underwriters
Association is made up of post
graduates in the insurance field,
who hold degrees from the Ameri-
can College OF Life Underwriters.
Earle w. Bradley. president of the
national organization, will be the
guest of honor.
H. Cochran Fisher, president of
Washington Chapter, will preside,
following a reception to the guests.
j. Alan Maphis, banquet chairman,
announced today that Mr. Holcombe
will speak on the Better Distribu-
ton of Life Insurance"
Gas Plan Considered Unwise.
According to the annual report of
the Washington Gas Light Co., the
plan suggested by the Public Utili-
ties Commission, that the company
might use only natural gas in the
future, is not considered practical.
Referring to this matter, the re-
port says:
THE source of its gas supply Is,
OF course, a matter of vital concern
to the company, and the present
processes involving the use of nat
ural gas have been developed in
accordance with sound technical
principles and with the considered
Judgment of the management. In
view of the commissions order, the
company is continuing studies which
it has made from time to time in
the past for comparison and check
ing with the results of the commits
sion's studies.
THE management would naturally
welcome any change in operating
technique which would be benflcial
to the customers and the company.
The advisability of distributing
straight natural gas is dependent
upon the availability of supply of
natural gas over a long term of years
at favorable price. Furthermore,
there must be assurance against a
temporary failure of supply, which
under existing conditions can prob
ably best be afforded by continuing
the washington production plants
in condition ready for service. 1t is
not yet apparent that it would be
advantageous to make any substan-
tial change in operating procedure"
Ever since 1881 the company has
used a mixture of manufactured gas
and natural gas, but has never been
dependent on natural gas from dis
tant sources. Natural gas has been
a factor in low-priced gas, however,
the report adds.
Martin Calls Risk Essential.
Regulation of the New York Stock
Exchange by the Securities and Ex-
change Commission and the ex-
change itself will not eliminate risk
from security trading because in any
expanding field risk is inherent to
progress. William McC Martin, jr.,
president of the New York Stock
Exchange, told the Rochester Cham
ber of Commerce.
Mr.. Martin said that the growth
of business is dependent on assum-
ing risk and that business faced
dark future IF the philosophy of
government is to be the complete
protection of the public"
The stock exchange is opposed,
Mr. Martin stated, to trying to make
the public believe that where there
is regulation there is also protection
from loss. THE customer has the
right to know the risk he's taking"
he added
Loan League Party Grows.
Rudolph w. Santelmann said to-
day that nearly 600 are expected
to attend the 7th annual banquet
of the District Building and Loan
League at the Mayfower on March
%, the member associations being
urged to send in their names for
the seating list at once. No reserva-
tions will be accepted after Thurs
day, he said
Fred A. Smith, entertainment
chairman, who is serving his sixth
year in this capacity, announces
fine progress with new program
features. The entertainment will
be varied from other years.
c. Clinton James and William N
Payne, jr., president of the league,
will head the receiving line prior
to the banquet.
Morgan Addresses Bankers.
10 " Morgan, sole member of the
. District of Columbia Tax Appeals
Board. gave an intensely interesting
and timely talk on District taxes be-
for the auditors and fiduciaries'
sections of the District Bankers
Association last evening at the Lee
House.
Members of the fiduciaries sec
tion were guests of the auditors
section, such joint meeting being
held once year. c. Norman Glasco
presided.
Among those present were A M.
McLachlen and John M Reilly, both
officers in the District Bankers
Association.
Hamilton Club Holds Forum.
A forum dinner, under the auspices
of the Hamilton Bank Club, was
held Tuesday at Golfers Inn.
Among the IS members attending
were many officers of the bank.
Questions pertaining to local ard
intrabank problems were discussed.
The Department of Commerce re-
ported today that life insurance in
February showed decrease Of 1.6