Evening star. [volume] (Washington, D.C.) 1854-1972, 1940-10-06
Acacia Business
Well Ahead Of
Last Year
Montgomery DiscIoses
Insurance in Force
At New Record
Bv EDWARD STONE.

the Acacia Mutual Life Insurance
Co. last night reported an increase
Of $3.50 900 in the volume OF bust
ness in force in the first nine months
OF 1910, compared with gain in
the like period in 1899 of IS ABS, 1O4.
The net increase during the quarter
ending September 80, 1910, was IS
per cent above the net gain regis
tered during the first three quarters
of 1899, Mr.. Montgomery stated. The
total volume of insurance in force,
S419 400, 900, is the highest on record.
The Acacia executive said a new
high mark had also been attained
In assets, now above $9l $50 900, an
increase of $1,000, 900 or 81 per cent
over assets on September 80 q
year ago.
More than s26,6l5 900 of placed
business for the first nine months
of this year was reported, an in
crease of more than Is per, cent
over the corresponding periody lass
year. At the same time the improve
ment continued in the conserva-
ton rate, the volume of lapses being
far below the national average.
Mr.. Montgomery predicted equally
satisfactory results in the fourth
quarter, an exceptional year now
being assured.
Defense Aids Fifth District.
Details from the Federal Reserve
Bank of Richmond's September re-
view picture the first stimulating
influence of the preparedness pro-
gram, many Government contracts
having been awarded industries in
this territory. Very large additions
to shipbuilding facilities, airplane
and powder plants will be made
shortly and much new housing will
be needed, especially in the Newport
News area.
Ordinary business in August and
early September was up to seasonal
levels, the report states. Fifth Dis
trict building permits were l8 per
cent above August. 1899. Washing
ton reported $3,853,S05 August per-
mits, Government work not in
cluded, topping the Fifth District,
with Baltimore second.
Contracts awarded in Washington
in August totaled $3,l14,000, against
Sl0,O35, 900 in August, 1899, drop
Of So per cent, according to the
Dodge reports. Contracts awarded
In the entire Fifth District were
II per cent ahead of last year.
d. C. Bank Debts Improve.
Debts to individual accounts in
Washington banks in August totaled
S268, $4,000, lower than July, but
an increase of 8 per cent over
August, 1889.
Sales OF new automobiles in the
Capital in August numbered 1880,
against 1851 year ago, of 6 per
cent. In the first eight months Of
the year, however, sales numbered
1879 cars. compared with 1881 a
year ago, gain of 9 per cent. The
gain In the whole Fifth District
was "a per cent.
The review stated that employ
ment in the District of Columbia in
August showed only fractional
changes from July, either in the
amount Of pay rolls or the number
employed.
Sales Of 80 department stores in
the Fifth District amounted to
1888, 1911 in August, up 20 per cent
and sales of 1856 wholesale firms to-
tailed sl2,529OO0. a gain of s per
cent. Washington reported a 10 per
cent rise in furniture sales.
Loans and discounts in Al Fifth
District banks in September
amounted to s28O,966 900 against
the much lower figure of s248. 637 ,000
q year ago, the review concluded.
P.U.C. Extends Bond Offer.
The Public Utilities Commission
yesterday extended from october
to December the date on which
holders of Anacostia a. Potomac
River IS and City g. Suburban
IS may assent to the modifl-
cation and guarantee plan offered
by the Capital Transit and Wash
inRton Railway & Electric Cos
Holders are now given two addi-
tional months in which to accept
the proposal and deposit their bonds
Because of the extension OF time
the Commission permits the COL
lection by the repositories of the
August / and October /, 1910. cou-
pons on bonds deposited on or prior
to October /. Interest OF not more
than the modified rate of 3% pei
cent is to be paid on accruals after
April l, 1910.
On the deposited bonds. the pro-
posed amendment provides that
such payments on the AnacoStia
bonds shall be s1S75 per coupon anc
that the balance of 1925 be paid te
the Capital Transit Co. upon the
effectiveness of the plan or to the
holders if the plan does not become
effective. In the case of the City &
Suburban bonds, $25 per bond is tt
be paid, the full amount OF the Au'
gust coupon. The two issues involve
about $500, 900 principal.
Financial District Comment.
Washington Gas Light IS. 1860, fig.
ured in three 81 900 bond sales on thu
Washington Exchange yesterday. a
100 against the last sale at 12S
Capital Transit closed the week witt
. sale at II. The closing bid wa
II with 1417 asked.
Y,iliiie Corfnnkal YarafQrrad stock