Evening star., 1940-04-14

=. d. sihciaf' and George
Black. Sun Life of Canada, was re-
elected secretary-treasurer. Francis
Brotherhood, Connecticut Mutual,
was named a new director and
Frank c. Jude, New York Life,
chairman of publicity.
1t was announced that William
Macy, Phoenix Mutual, a club men,
ber, will address the May meeting
and in early summer the annual
social party will be held at the
Chevy Chase Club.
D. C. Bonds Make Records.
All public utility bonds listed on
the Washington Stock Exchange
have continued their exceptional
record in recent sessions, every issue
now being quoted considerably
above par. The past week saw the
highest priced bond issue on the
exchange, Washington Gas IS, 1860,
work still higher, registering a sale
at 1914, up from l244 earlier in
the year.
Capital Traction 1st SIS, the most
active issue on the board, sold dur
ing the week at 1919, close to the
1910 high mark. Anacostia & Poto-
mac River r. r. SIS are now quoted
at the years best price, the last sale
being at 1903; City e. Suburban SIS are
also strong, last sale at 1031s: while
Potomac Electric Power 1st 34s are
at the high for the year, 1101s. The
last sale in Washington Railway g.
Electric 4s, at 100, was also 1910
peak.
On the exchange yesterday SO
shares of Capital Transit stock sold
at Is. the market closing with 14h
bid and 1512 asked. During the
week Mergenthaler Linotype, which
Is so widely held in the Capital
sold at 1512, the best price so far this
year. Washington Gas Light COM
mon stock is now being quoted 25h
bid and 26A asked, ex rights and
ex dividend.
Insurance Entrenchment Urged.
The close of life insurance hear
ings by the TNEC in Washington
will not result in the relaxing of
vigilance by the life underwriters of
America, but rather in "a course
OF action based upon a philosophy
of entrenchment, fortification and
reconstruction-a preservation of in
dividual reserves"
This Interpretation of the next
move on the part of members of the
two professions, life underwriting
and banking, was expounded by
Roger B. Hull, managing director
and general counsel of the National
Association of Life Underwriters, in
an address before the Washington
Life Insurance Trust Council, meet
ing at the Willard Hotel Friday
night, with Aubrey o. Dooley pre-
siding.
Residential Building Rises.
March residential building con-
tracts advanced the Middle Atlantic
valuation nearly 100000 beyond
the February level a small net gain
in Eastern Pennsylvania. Southern
New Jersey, Delaware, Maryland,
District of Columbia and Virginia,
says J. T. Little, district manager of
Dodge Reports.
Residential contracts awarded in
the area during March called for
work and materials valued at $20,-
141 900. In February the residential
total was at 11499,0 900.
Non-residential work dropped off
according to the contract indica-
tions to $9,518,000 from February's
corresponding $l8,027,000.
Total building contract valuation
for the month was $29, $50 900, just
above the preceding $29,526,000, the
report states.
Financial District Comment.
Investment dealers yesterday re-
ported many sales here of Inland
Steel Co. first mortgage 3 per cent
bonds following the s36 900 900 offer
ing at 102. The new bonds are now
quoted at 1927. bid and 1031s asked
Sears, Roebuck g. Co. will offer
10000 shares of common stock of
the Florence Stove Co. to the public
at the current market price on the
New York Stock Exchange, accord
ing to an amendment filed with the
Securities ana Exchange Commits
sion.
President E. E. Norris of the
Southern Railway said yesterday
that carloadings are currently run
ming about 10 per cent ahead of
loadings for the same period year
ago.
M. w. Clement, president of the
pennsylvania Railroad, estimated
yesterday that gross revenues in the
first week in April were about Z per
cent ahead of last year.
Nitrate mines In Chile are pro-