Evening star., 1940-02-20
Life Insurance Sales
Slump 36 Per Cent
From Year Ago
UnfovorobIe Comparison
Luid to Rute Rush
In January, 1889
BY EDWARD C. STONE.

Lie insurance IeSedICu DuItdu dG
Hartford, Conn, reported today.
This compares with an average drop
of 80 per cent for the whole coun-
try
The chief reason for the decrease,
underwriters explained here today,
Is the fact that in January year
ago many applicants made haste to
take out policies ahead of an an
nourced advance in rates. The gain
was Nation wide under these ab-
normal conditions February COM
parsons, however, will be more en-
Tightening. ..---
Maryland wrote $7,6O6,O00 in new
business in January, slump OF 23
per cent. Virginia reported a total
in new policies of $6,736, 900, AZ per
cent from January, 1889. West Vir-
ginia made much the best showing
in this territory, total OF S4,737,0oo
in new business being only per cent
lower than last year.
Washington made a better record
than five other important cities,
Boston, Chicago, Los Angeles, De-
troit and st. Louis, but business
in the Capital was better than IN
Cleveland, New York and Philadel-
phia. January sales were also be-
hind December, 1899, when new
policies in the city totaled S., ,245,O 900,
the report showed.
Bankers to Greet Guests.
-,.a N6 plo;l,1ock WASHINGTON
Loan 8, Trust Co., chairman OF the
Reception Committee for the 35th
annual banquet of Washington
Chapter, American Institute OF
Banking, announces the following
membership for his committee:
Willard G. Barker, president,
Morris Plan Bank; David Bornet,
vice president, National Savings q
Trust Co.; Michael F. Calnan, presi-
dent, Liberty Nation; Charles H.
Doing. vice president, Washington
Loan g. Trust Co.; Thomas j.
Groom, executive vice president and
cashier. Bank of Commerce &
Savings; A. E. Henze, w. B. Hibbs
g. Co.. Hilleary G. Hosklnson, vice
president, Riggs National; c. F..
jacobsen, president, National Met
ropolitan; Robert H. Lacey, cashier,
Columbia National; T. Hunton
Leith, vice president and cashier,
Security Savings & Commercial;
Archibald M McLachlen, vice presi-
dent and treasurer, McLachlen
Banking Corp; A. Scott Offutt,
vice president, City Bank; c. H.
Pope. president, Munsey Trust Co.;
Ord Preston, president, Union
Trust Co.; John A. Reilly, president,
Second National: Frederick P. H.
Siddons, secretary, American Sc
curity g. Trust Co.; James A. Soper,
vice president and cashier, Lincoln
National, and Wilmer j. Waller,
vice president and cashier, Hamil-
ton National. ~-.-. ..-
Plans for the banquet have been
virtually completed. Kenneth Birg-
field, American Security & Trust
Co., chairman of the Entertainment
Committee, has arranged program
which will compare favorably with
any in the past.
Conduct Committee Named.
The National Association of
Securities Dealers took an i'm
portant step here today toward
perfecting its machinery for ham
ding trade practice complaints in
forwarding to its District Business
Conduct Committee a set of 10
in
these complaints.
This machinery is. designed for
use by the Business Conduct Com
mittee in hearing and acting upon
controversies between members and
between members and their GUS
toners and to afford investors deal
Ing in the r-the-cOunter market
with members protection compar-
able to that provided by stock ex-
changes. With the receipt of the
forms, these committees are now
fully prepared to go forward with
this important phase of the asso-
cations work.
The District Business Conduct
Committee for District No. II in
cludes James Parker Nolan of Fol-
ger, Nolan & Co., Inc, Washington
chairman; Y. E. Booker of Y. E.
Booker & Co., Washington: Oscar
w. Burnett of Oscar Burnett & Co.,
Inc, Greensboro, N. c.; Edward K
Dunn of Robert Garrett & Sons
Baltimore; William Frazier of Dav-
export & Co., Richmond; Herbert
w. Schaefer of Herbert w. Schaefer
& Co., Baltimore. District No. II
embraces the District of Columbia
Maryland, North Carolina, Virginia
and West Virginia.
Life Insurance Gains Noted.
Bradford H. Walker, president OF
of the Life Insurance Co. of Vir-
ginia, reports that in 1889 insurance
in force was increased by 27,612, ,18l
to $528 ,053 461, while assets were
raised to $105, ,334,172. More thar
$4,0O0,000 was added to policy re-
serves Satisfactory progress wa:
made in every department. he said
The Life Insurance Co. of Virginia
Is represented in Washington by
A. E. Call, district manager; F. x
Callahan, manager (ordlnary de'
partment, and Special Representa-
tives Mortimer E. Bell, c. Carlisle
Ames and William H. Ely.
Customer Relations Chief.
Appointment of William Powers
assistant cashier and manager O.
personnel and training of the Ma.
tional Bank of Detroit, to the pos
of director of customer relations O.
the American Bankers Association
is announced today by Robert M
Hanes, president of the association
Mr.. Powers graduated from th'
Graduate School of Banking in tn
class of 1887 and during the last twt
years has been an instructor of th'
Graduate School in personnel rela
tions.
Exchange Trade Turns Lively.