Evening star., 1940-02-27
Bank Trust Officers
And Life Insurance
Leaders Form Council
Better Estote Service
One Object of Joint
Move in District

One Object of Joint
Move in District
BY EDWARD C. STONE.
Trust officials in Washington banks
and leading life insurance under
writer's IN the city have organized
the washington ID. c. Life Insur-
ance Trust Council in a joint effort
OF trust and insurance representa-
tives to provide their customers with
. more complete estate and trust
service, 1t was announced in the
financial district today. The step
marks a new era of cooperation be-
tween the two groups.
A joint committee composed of
bank trust officers and insurance
underwriters has been working on
plans for nearly year and at the
recent organization meeting the fol-
lowing became charter members of
the council:
Bernard L. Amiss, Joseph A. Bar
beau, Anthony j. Byrne, j. Wesley
Clampitt, Victor B. Deyber, Aubrey
o. Dooley, Raymond A. Du Four, H.
Cochran Fisher, Leopold V. Freud
berg, Richard w. Griswold, Paul F.
Grove, jr; A. H. Jackman, Earl G.
Jonscher, Sidney H. Karr. Harold A.
Kertz, Lester A. Lawrence, j. Alan
Maphis, Leonard Marbury, Joseph
A. Marr, John L. McElfresh, Paul H.
Primm, j. Frank Rice, Russell Shelk,
William V. Simmons, Sidney F.
Taliaferro and Ralph G. Wilson.
Objectives of the council are to
help equip its members to render the
highest type of service to the public;
to acquaint those in need of insur-
ance and trust service with the pro-
lection and advantages afforded
through life insurance contracts and
fiduciary arrangements; to develop
closer cooperation and better under
standing of the proper relationship
which each type of business bears
to the other, to the clients Of each
and to the general public.
Associations Indorse Plan.
Both groups are engaged in the
processes of estate-creation, estate
conservation and estate -administra-
ton for the same customers. The
plan has received the full indorse-
ment of the American Bankers Asso-
citation and the National Association
OF Life Underwriters.
In the District of Columbia the per
capita insurance coverage is more
than double that of the Nation as
whole and aggregates approximately
$3.50 100000.
The IL local banks exercising
fiduciary powers are acting as trustee
of many estates involving life insur-
ance proceeds and are named as
trustees of policies involving siz-
able total which eventually will be
administered for the benefit of de-
pendents and charities, today'S an
nouncement states.
Air Shipments Increase.
Airplanes of 18 major airlines in
the United States carried 870,9O6 air
express shipments in 1899, compared
with 715,410 in 1888, an increase of
21.72 per cent, the air express di-
vision of Railway Express Agency
1899 increased 24.23 per cent over
1898.
Shipments in December, 1899,
: totaled l03,l50. compared with 81.5l9
in December, 1888. an increase of 26.5
per cent. This was the first time
since the service was started in 1927
that shipments exceeded 100000 for
any one month, the report said.
Eccles Bond Club Speaker.
Mariner S. Eccles, chairman of
the Board of Governors of the Fed
eral Reserve Board, will address the
Bond Club of Washington Thurs
day at a luncheon at the Carlton
Hotel, it was announced today.
George M. Ferris is the president
of the Bond Club this year. 1t will
be the first meeting of the kind
under the present administration.
The club membership includes many
of the investment leaders in the
financial district.
Both National Dairy Products,
which has two Washington units,
and Borden have been active in re-
cent New York Stock Exchange
trading, standing around their 1910
highs. Both companies are re-
ported to be enjoying steadily in
creasing sales of milk products. The
consumption of dairy products in
1889 established a new peak, being
S per cent above 1888 and II per
cent ahead of the 1924-1929 average.
Rail Earnings Make Record.
Net income of the Norfolk &
Western Railway in January
amounted to $205 share on the
common stock, contrasted with 81 80
In December and $1.34 in January,
1889. The road reported that this
showing was not equaled in any
January back to and including
January, 1929, when $l.82 a share
was earned on the common stock.
Gross revenues reported yester-
day by the Pennsylvania Railroad
for January, $38.495,7 ,734, were the
best for that month since 1881, when
the carrier reported $38,695, GIL. Last
months net railway operating in
come, which totaled $5,516,274, was
the best for the first month of the
year since the $6,309, 1896 reported
for January, 1880.
Gas Sales Improve Steadily.
President Marcy l.. Sperry of the
Washington Gas Light Co. reports
that the increase in the company's
gas sales of 9 per cent during 1899
was the 18th consecutive year in
which sales have scored gains over
the previous year.
Washington stockholders in
Arundel Corp, the sand, gravel and
contracting firm, have received the
annual report, which shows net
profits in 1889 of $763,207, equal to
$1.63 share on the capital stock,
compared with net earnings of
$l,007, ,783, or $212 a share in 1898.
The Commerce Department reports
that the number of telephones in
operation in 1899 increased by 846,-