Evening star., 1942-09-30
Luncheon 10 Observe
9th Anniversary Of
Insurance Office
MutuoI Benefit Life
To Commemorate Stort
Here in l845
BY EDWARD c. STONE.

Establishment of the first per-
manent life insurance ONCE In
Washington, 81 years ago this
month. by the Mutual Benefit Life
Insurance Co. of Newark, N. j.. viii
be commemorated at luncheon
Friday at the Carlton Hotel. II.
Lawrence Choate, general agent,
announced today.
In September. l845, the radical
new idea hit Washington that a
man could insure his life so that
his wife and children would not be
penniless If he died prematurelv.
The idea had seeped down from
New York and Boston. few Dis
trict residents having been insured
through correspondence.
During September, l845. Joseph
c. Lewis opened an Office on "Sev-
enth Street Opposite the Patriotic
Bank and Systematically cam
vassed residents Of Washington and
Georgetown. At the end of the
month he had insured nine people
for total of $27 900.
The company now has more than
5000 policies in force here for
500 100000. Mr.. Choate stated At
Fridays celebration the guest speak
ers will be Robert r. Nathan chair
man of the Planning Committee Of
the War Production Board, and John
4 t,tao rf
insurance company, who will speak
on Life Insurance in Wartime"
/ Mutual Benefits present repre-
/ sentatives in the District include
Harrison Brand III, Donald Free
/ land, George T. Howard. Adolph
| Krechel, Dwight T. Scott. Elinor
| Hickerson, William A. Campbell and
| Mr., Choate.
Great Buying Wave Forecast.
| The United StatS Chamber OF
Commerce has just completed
Nationwide survey of what family
/ needs are likely to be after the war
and predicts consumer demand
ranging from 100000 automobiles
| to 100000 electric irons.
|
will be an early demand for 1,5O0,-
| GOO mechanical refrigerators, 1900
| 900 washing machines, 1000 900 ra-
| dios and 100000 sewing machines.
More than 100000 families will
want to buy living room furniture.
! or rugs, carpets or linoleum, the
forecast says.
The chamber also predicts that
many homeowners will make ex-
tensive repairs, paint, decorate and
put new roofs on their buildings.
while many farmers will build new
outhouses, barns, fences and tenant
houses.
A great deal of money is now be-
ing saved to meet the cost of these
postwar needs, the survey con-
cludes.
Building Totals Exceed l94l.
Although declines from the 194I
figures were recorded in all three
major types of construction during
August in the area which includes
Pennsylvania. Southern New Jersey.
Delaware, Maryland, Virginia and
the District of Columbia, the cumu-
lative totals for the first eight
months of the present year are still
considerably above the correspond :
ing figures for 1941, according to J..
t. Little, district manager of Dodge
Reports.
The cumulative total for construc-
ton during the eight months was
S759 9,589 900, which is substantially
above last years corresponding total
of $3.50, O,343,00O.
Rail Incomes Show Gains.
Net operating income of the At.
lantic Coast Line Railroad in the
first eight months of 1912 totaled
s13, 1851 against $8,372, ,043 in
1941.
Net operating income of the Sea
board Airline Railway in the eight
months was $l9,384071 compared
with s6,S45,216 in the like 194l Pc
riod.
Net operating income OF the Nor
folk Southern Railroad In eight
months totaled 1865, 785 against
$501,o44 in the same months last
year.
D. j. Needham, general counsel
of the American Bankers Associa-
ton, and j. 0. Brott, assistant gen.
eral counsel, are attending the A.
B. A. conference in New York.
Donald G. Heyne, treasurer OF
Walker & Dunlop, Inc, mortgage
firm, Is attending the meeting of
the Mortgage Bankers Association
in Chicago.
Richmond District Leads u. s.
In the first eight months of 1912,
the Richmond Reserve District led
the country in gains in department
store sales, with an advance of 18
| per cent over the like l94l period,
the Federal Reserve Board reports.
San Francisco was second with a
16 per cent upturn.
The Philadelphia area stood third.
sales being up II per cent. In Bos-
ton. trade was up II per cent, and
in New Pork per cent Cleveland
reported 10 per cent upswing:
Atlanta per cent. and Chicago
9 per cent. Trade in ST. Louis and
Kansas City districts gained II per
cent, and in Dallas per cent. ~F
! The average improvement in the
| IL districts was IL per cent. aot
| rr-
Today's Trading on Exchange.
Potomac Electric Power So per
| cent preferred stock sold at ia on
| the Washington Stock Exchange
today. unchanged from other recent
| transfers t
Riggs National, American Security,
| and Prince Georges Bank 81 Trust
Co. have been added to the list Of 4,
stocks now quoted ex-dividend.,
Others include American Telephone,
Capital Transit, and Peoples Drug
Stores common. 80 'f
l. -.