Evening star., 1941-03-17
Life Insurance Sales
In Virginia, Maryland
Mount in February
Old Dominion Guin
Same os in Capital,
Latest Survey Shows
BY EDWARD C. STONE.


With new life insurance in Febru-
ary totaling S7,374,000, Virginia tied
Washington in a percentage gain of
10 per cent over the same month
year ago In the first two months
of this year. Virginia agents wrote
policies totaling SIS, ,l35 900, notable
gain of u per cent
Maryland reported total of
$7,786,00 in February, gain of 7
per cent. Policies in the two months
amounted to s15,821 900, an upswing
of 6 per cent, the same advance as
already reported for Washington.
West Virginia, according to the
latest figures from Hartford, Conn,
the insurance capital, failed to equal
the February, 1910, record by per
cent. In the two months the total
was down IL per cent.
South Carolina was l per cent
ahead of last year in February but
North Carolina was off 2 per cent.
Both States were down in the two
month period compared with 1910,
Nevada had the best February record
of any State in the Union, up 81 per
cent.
Revised figures from Hartford
state that there we're about 259,7O6
life policies. exclusive of group, IN
force IN Washington in 1910, amount
to s67o.8 .821 900 and gain of 4.3
per cent over 1899.
Mortgages Top January. l940.
Although there was a seasonal de-
cline in urban home financing OF 8
per cent between December and
January, the January amount was II
per cent above that for January,
le4o. the Federal Home Loan Bank
Board reported yesterday There
were 1O9 ,689 home mortgages having
an aggregate value of S307 $40 600
recorded in non-farm areas by all
types of mortgage lenders during
January as compared with 9o,0ol
MORTGAGES amounting to S262 ,603 600
in January year ago.
Urban mortgage recordings by
building and loan associations to-
tailed s89, 1896 900, against S747l1 600
in January, 1910; by banks and trust
companies, S76977,0OO this year,
against s66 ,342 900 a year ago, while
insurance companies, mutual saw
ings banks and individuals also re-
ported substantial increases in jan
uary this year.
Boyer With Merged Concern.
Following consolidation of Stand
ard Statistics Co. and Poor's Pub
fishing Co. it is announced that the
new company will be known as
Standard & Poor's Corp.
The Washington Office will be re-
tanned under the new management,
with Gaylord w. Boyer as the rep
resentative. For several years he
represented Standard Statistics,
having offices in the Barr Building,
and is widely known among the
banks and other business concerns
in the city.
Clayton A. Penhale is president of
the new statistical corporation,
which will have executive Offices in
the Standard Statistics Building in
New York.
Excellent Year Reported.
A. E. Call and F. x. Callahan,
Washington agents of the Life In
surance Co. of Virginia, reports that
1910 was one of the best years the
company ever had The company
added more than S37,000,000 to in
surance in force, according to Pres
ident Bradford H. Walker. and as
sets we're increased by S5,687, ,184 to
more than 100000.
Mr.. Walker considers it note
worthy that whereas payments un-
der policy contracts over the COM
pany's first so years aggregated S64.-
693 ,228, such payments for the last
10 years amounted to S74,548 ,887,
and cites these latter disbursements
as a significant contribution to the
Nations stability through a decade
of economic distress.
Brokers More Optimistic.
Brokers in the Washington Offices
of New York Stock Exchange firms
have turned more optimistic on the
outlook for the stock market in the
past few days. The stronger tone
to the market at the end of the week
is one reason; the good opening to-
day was also helpful.
Brokers say that while everybody
knows there must be heavy increases
in taxes, yet big corporations are
bound to do a great deal more busi-
ness in the months ahead. If cor
porations double their output, they
can pay much higher taxes and still
have some profits left, brokers as
sert, adding that the war is expected
to remain the biggest factor in mar
ket operations for an indefinite
period.
Savings Bank Joins Reserve.
Hugh Leach, president of the Fed
eral Reserve Bank of Richmond,
announced today that the Savings
Bank of Williamport, Williamsport,
Md, has been admitted to member
ship in the Federal Reserve System.
The Clearing House Committee of
the Chicago Mercantile Exchange
has authorized the Capital Butter &
Egg Co. and NJ Rexrode, both of
Washington, to accept butter, egg,
cheese and potato futures orders as
solicitors.
Edwin c. Graham, president of the
Hamilton National Bank, is enjoying
a vacation at his winter home in
Florida. Joshua Evans, jr., vice
president of the same bank, is also
among Washington financiers now
at Florida resorts. He started South
Friday.
Today's Trading on Exchange.
Potomac Electric Power 51a per
cent preferred stock opened the
weeks trading on the Washington
Stock Exchange with 1O-share sale
at l15, up half a point over the last
previous transfer.
Washington Gas Light preferred
stock figured in a tiny sale at 1041s
This was below the price prevailing
in recent larger sales.
Capital Transit was quoted ex-
dividend today at 16 bid and 1864
asked, no stock changing hands
Bonds were neglected, quotations re-
naming firm.
Financial district ro,,rr,rt