Evening star., 1940-01-25

AS already announced, new life
insurance written in Washington
during 1899 was per cent lower
than in the previous year. New pol
icies in 1899 totaled SCI. ABS, 900,
against $63,041 900 in 1898; $75, ,206,-
600 in 1887, and $71 1863 900 in 1886.
New business in Maryland totaled
$92,511,OO0 in 1899, S92, ,401 900 in
1888, $103950,000 in 1887 and $685.
226,000 in 1896. In Virginia new pol
icies totaled S85, ,146, 900 in 1899, $780,
486,0O0 in 1888, $86,65OOOO in 1887
and $87,642,000 in 1886.
In the whole United States the
volume of new insurance amounted
to- Sc, ,425 ,633 900 in 1899, totaled So
526,610,000 in 1888, reached $685.
468,000 in 1887 and stood at $7,344,-
349 in 1886, todays report states.
Credit Union Pays Dividend.
The Peoples Drug Stores Employees
Credit Union, composed of employees
of Peoples Drug Stores and subsid-
iary companies in Washington,
Maryland, Virginia and Tennessee,
declared 6 per cent dividend at
the recent annual meeting, it was
announced today.
Increasing interest in the credit
union by the employees was evi-
denced by an increase of 80 per cent
in share deposits over the previous
year, and 40 per cent increase in
loans. During the five years of its
operation this credit union has sus-
tanned losses of only $38. IA per-
centage of approximately one-ten-
thouSandth of l per cent of the
share deposits during that period.
Bank Section Meets Tonight.
The flduciaries section of the Dis
trict Bankers Association looks for
an unusually large attendance at
the January dinner meeting this
evening at the Washington Hotel
when D. J. Needham, general coun-
sci of the American Bankers Asso-
citation, will be the guest speaker
Mr. Needham will discuss fiduciary
problems and perhaps touch on leg
islative matters of special impor-
tance to bankers.
The State of Maryland has
awarded an issue of $1,370,0O0 IL
per cent certificates of Indebtedness
to syndicate headed by the Bank
erS Trust Co. The award was made
on bid of 101748. Public offering
is being made at prices to yield from
0.50 to lao per cent, according to
maturities ranging from 1943 to
1855.
Francis A. Bonner of Chicago,
newly elected chairman of the Board
of Directors of the National ASsocia-
ton of Securities Dealers, is for
mer adviser to the Securities and
Exchange Commission regarding
regulation of overtime counter mar
kets under the Maloney Act. He
rendered some very valuable service
to the commission and to the dealers.
One hundred shares of Washing
ton Railway & Electric preferred
stock sold at 1T on the Washing
ton Stock Exchange today. Poto-
mac Electric Power per cent pre-
ferred again moved at lit. In the
bond division $1,000 Capital Trac-
ton SIS changed hands at 9812.
lHduCldl DlStTlCL SOIuIuCHt.
The year-end summary prepared
by Henry A. Johns, Washington
manager of Dodge Reports, states
that contracts awarded for all types
of construction materials and labor
throughout this area reached $119,-
$4,000 last year, So per cent ahead
of the corresponding 1888 valuation
level of $78659,OO0. The local gain
of So per cent exceeds the average
gain of II per cent, recorded for the
81 States east of the Rocky Noun
tains.
Residential activities developed the
best record in the Washington met
ropolitan area, $60617,000. That is
So per cent ahead of the 1888 total,
S44,452 900.
Directors of International Busi-
ness Machines Corp. have declared
a quarterly dividend of Sl.50 a share
on the capital stock, payable April
10 to holders Of record April !.
s,-~5