Evening star., 1942-08-11

Committee, and J. NJ. silverman.
Vernon w. Holleman, Home Lif
will have charge of the annual sal
congress.
Roge- w. Baldwin, NorthWestel
Mutual is named chairman of tt
Advisory Committee; Joseph .
Mari. Penn Mutual. and Raymor
A. DuFour, Pacific Mutual, will kee
in contact with the banks and tru
companies. Other chairmen include
Field practice, Lawrance H. Ris
giles, Phoenix Mutual; industrial ir
surance, Adreon M. Ensor, Metre
politan Life; managers sectiol
George A. Hates, chairman, an
Joseph A. Barbeau, secretary treas
urer. membership, Leroy J. Myer
Mutual Life.
Publicity and bulletins. Charles
Suter. Berkshire Life, and Russo
Shelk, Reliance Life; Womens sec
ton, Blanche Weaver, New Englan
Mutual
In addition to President Silver
man, the officers for the comm
year include George A. Hates, frs
vice president; Charles F.. Suter, sec
ond vice president; T. Loehl OBrier
treasurer, and Arthur C. Pearson
secretary.
Earle w, Sapp is chairman OF tn
Life Insurance Institute, William !
Dowd dean, T. L. OBrien registra
and John L. McElfresh adviser.
Bowery Bank Joins FDIC.
Chairman Leo T. Crowley of tn
Federal Deposit Insurance Corp
announced today that the Bower.
Savings Bank. largest mutual say
ings bank in the United States, ha
been admitted to Federal insur'
ance. The bank has deposits
amounting to $457 100000.
Chairman Crowley also an.
nounces that three additions ano
nine deletions in membership were
recorded between May Is and June
15
There were seven admissions tc
the Federal Reserve System in the
same period.
Buying of Homes Urged.
The United States Savings and
Loan League has started cam
paign urging the purchase of homes
during the remainder of the war.
The leagues Home Building and
Home Owning Committee states
that there are from 100000 to
6 900 900 heads of families who will
have their present jobs for the du-
ration.
For these families, buying a home
will be real economy, the report
says. The committee favors the
purchase of existing homes, and
says that such policy is good
imitation hedging, adding that it will
be easier for most people to start
paying for homes now than to wait
until the war is over.
The report has been sent to the
officers of the District Building and
Loan League.
Agent Wins Insurance Honors.
Warren S. Stone, who led the
Washington Office of the New York
Life Insurance Co. in volume OF
paid business for the year ended
July Is, has won fifth place among
all agents in the Atlantic Depart
ment. For the first six months of
1912 he stands 50th among 5000
agents throughout the country, it
was announced today
Jay C. Brown led the entire At
lantic Department for the wear in
the number of lives insured in the
100000 Club.
Bank Stock in Lively Demand.
The Washington Stock Exchange
opened today with five shares of
American Security & Trust Co.
stock selling at 1875, unchanged.
The damand for the stock con-
tinued and a block OF 63 shares
changed hands at 1877, up two points.
The final bid for the stock was l80
with 1870 asked.
Washington Gas Light common
stock also was in demand, 80 shares
changing ownership at 157S. off
from the last previous sale at Is.
This was the largest sale in Gas
in many sessions.
Norfolk & Washington Steam
boat stock now is the only issue IN
the list being quoted ex dividend.
Many dividends were paid on
!.
Financial District Comment.
Robert M Hanes, president of the
Bank & Trust Co.. Win
ston-Salem, and past president of
the American Bankers Association,
has been named adviser to the Ord
nance Section of the Navy's Office
Of Procurement and Material.
Tom K. Smith, president of the
Boatmen's National Bank, st. Louis,
and also a former ABA president,
has been given similar appoint
nent. Both financiers will remain
at their banks, subject to call for
the Navy said
The Richmond Reserve Bank S
attest review states that commercial
failures in this district in June were
ess numerous than year ago, and
n the half year % per cent below
he number in the first six months
If 194l
The Treasury states that in the
'uture, actual War bond sales in
he various States and in Washing
on will be compared with quotas
IN a cumulative basis. The amount
oy which sales fall short of or eX-
iced quotas in any month will be
added to or subtracted from future
,,,ofoc