Evening star., 1940-01-21
Insurance Sales
In D. {. Show
1899 Decline
UnfuvorubIe December
Comparison Laid to
1893 Rute Rush
BY EDWARD C. STONE.


Life insurance sales in Washing
ton in the full year 1899 were off 2
per cent from 1888 because of a 43
per cent tumble in new business in
December, it was reported from
Hartford, Conn, yesterday. The
record for the Nation revealed
drop of per cent for the year and
. 38 per cent decrease in December.
Policies written in the Capital in
1889 totaled $61, ABS, 900 and the
volume in December amounted to
$5,245 900. These figures compare
with $62 ,087 900 for the year 1898,
which was down 16 per cent from
1887, and $9,055, 900 in December,
1888, when business was 80 per cent
ahead of December, 1897, largely
because of coming change in rates
which caused an extra rush OF ap-
plications.
Maryland business was off l per
cent for the year and IS per cent in
December The years sales totaled
$92,5l1 900 and Decembers S8,291,-
600. Virginia had per cent de-
crease for the year and 80 per cent
in December. The years new poll
cies amounted to $85, lac. 900 and
December's to s7835, 900, the report
said.
It had been forecast that new in
surance in the Capital in 1899 would
run about per cent ahead of the
previous year, based on the fact
that business was per cent higher
In the first 10 months and per
cent better at the end of II months.
Without the abnormal conditions at
the end of 1888, sales in Washington
in 1899 would have been we'll ahead
OF 1888.
New policies written in the whole
United States in 1899 totaled So
425. .633 900 and $567,212,00O in De-
cember, the report disclosed.
Trading on d. C. Exchange.
Capita! Transit stock wound up
the week on the Washington Stock
Exchange by selling at IA. The final
bid was 1872 with Is asked. The
stock has failed to advance recently
despite good earnings reports.
Potomac Electric Power 3H per
cent bonds came to the front on the
exchange earlier in the week When
they sold at ITO and then moved up
to l10A, new all-time high mark
In this issue.
Holders of Washington Properties.
Inc. per cent income bonds will be
interested In the price which is paid
by the company for bonds rendered
for retirement. The trustee has
advised bondholders that $500, 900 is
available for the purchase of bonds
out of part of the proceeds from the
sale of the Boulevard apartments
The dead-line set for making tender
Is 2 O'Clock tomorrow afternoon.
Banking Faculty Announced.
Washington Chapter, American
Institute of Banking, opens the
second semester courses tomorrow
night in the chapter rooms in the
American Security Building, with a
strong faculty.
Law I will be taught by Wilbur NJ
Baughman, of the Federal Trade
Commission: Economics 1 by Nor
man E. Towson, assistant treasurer,
Washington Loan g. Trust Co.;
Credits I by Thomas j. Groom, exc
cutive vice president and cashier of
the Bank of Commerce & Savings;
Banking II by Morrison G. Tucker,
of the Federal Deposit Insurance
Corp: and Credits II by James
Daniel Cushman, dean of accounting
at Columbus University and instruc-
tor, Georgetown University Pros
poets for fine attendance were re-
ported by chapter officers yesterday.
Accountants to Hear Expert.
j. S. Seidman of New York will
speak to Washington Chapter, Ma
tional Association of Cost Account
ants, Wednesday evening at the
Hamilton Hotel, on the subject
"A Tax as an Item of Cost" based
on research study made last year
by the national association of the
methods in use among business Or
CARNATIONS in distributing on their
books the taxes paid.
Mr.. Seidman is, a member of the
Committee on Federal Taxation,
American Institute of Accountants
and New York State Society of
Certified Public Accountants;
member of Board of Governors, Ac-
countants Club of America and was
formerly director of New York
Chapter of National Association of
Cost Accountants.
The dinner meeting at $50 pm.
presided over by the president. John
L. Mitchell, will be followed by the
technical session at 7:30.
Lunson Wins Speed Contest.
James E. Lunson of the Riggs Ma
tional Bank, won the adding ma
chine contest conducted by Wash
ington Chapter, Institute OF Bank
ing, in the chapter rooms during
the week. He won first place over
a large number of contestants, max
ing very fine record.
Second prize was awarded to John
Weeks of the Dupont Branch of the
Hamilton National Bank, and third
honors were captured by Byron
Mathews, who is connected with the
National Savings g. Trust Co.
The contest was arranged by
George R. Gallaher, Lincoln Ma
tional Bank. It is an anual event
that arouses great interest.
Loan League Heads to Meet.
The executive council of the Dis
trict of Columbia Building and Loan
League will hold its January con-
clave at the Raleigh Hotel, Tuesday
noon, William N. Payne, jr., presid-
ing. The session will be featured
by report from Carl j. Bergman
describing the growth of the build
ing and loan movement in the Capt.
tai since 1861 when the first insti-
tuition of this kind was established.
Sunshine Mining Net
Drops to s., ,176,339