Evening star., 1943-10-11
Acacia Celebrates
As Policy Volume
Tops S500,000,000
BY EDWARD c. STONE.

cent and directing head for so years
was formally notified that the com.
pany has just reached and passec
its goal of $500 100000 of insurance
in force, an outstanding milestone
in company history.
This goal, pledged three years age
by the Acacia field force, was ir
tribute to Mr.. Montgomery's COLDER
anniversary, and was made possible
by the concerted efforts of Acacians
here and throughout the country
who eagerly seized the opportunity
to honor the man who has made
the company one of the great mutual
life insurance institutions of the
United States.
AS the company neared the half
billion dollar goal, an hour by hour
record was kept at the home Office
here, and when it was reached and
then passed this morning, an his
toric, fashioned hand bell, part
of the archives of the company, was
rung. The entire home Office force
of more than 500 employees and field
men from neighboring States then
proceeded to the front of the build
ing.
Montgomery Given Ovation.
Soon thereafter Mr.. Montgomery,
escorted by officers of the company
appeared on the front steps and was
accorded an ovation. In acknoWl-
edging the notification that the goal
had been attained and passed, he
said it was very difficult to express
in words his appreciation of what
the men and women of Acacia had
accomplished.
Il can only say that this day alone
Is ample repayment to me for all
the effort, energy and thought
which We have poured into the last
SO years of building this company"
He added that the National Capital
had reason to take pride in the de-
velopment here of such an out
standing company.
Insurance authorities say Mr..
Montgomery's success in building up
the company to its present propor-
tions is unique in life insurance
records. Starting his career with
Acacia in 1898, the company occu-
pied a single room over a downtown
hat store, having very few assets
and little insurance. Todays cere-
mony took place before the home
Office building, which houses 500
Following the notification cere-
mony. an informal luncheon was
rendered to MI. Montgomery, at the
Mayf1oWer Hotel, by the field force,
by leading producers.
with officers and department heads
present.
Sullivan on Bank Program.
Mark Sullivan, wellknoWn column
list, will address the fall meeting of
the District Bankers Association
next Monday evening at the Willard
Hotel, A. Scott Offutt, president. an
today. He will take as his
subject, Pattern of the Times"
His address will be in addition to
that of A. L. NJ Virgins, president
of the American Bankers Associa-
ton.
Invitations were extended today
to more than 600 bank officials and
directors to attend the meeting.
Building Valuation at Peak.
Home building in Washington last
year reached the highest valuation
in l3 years, D. E. Ryan, vice presi-
dent Of Investors Syndicate, re-
ported in Minneapolis after com
pleting a housing survey of 80 cities
washington" said MI. Ryan
provided new homes in 1912 fol
3o,540 people, drop of 1920, or 81
per cent. from 1941 when new homes
were built for 4l,960 persons. Last
year new housing was provided fol
1912 more persons, II per cent, thar
the 34,728 total in 1910.
Washington ranked second ir
the list of so leading cities in mum
Der Of homes built in 1912 and nSlo
fourth place in the 52-cltl 4rour
In total home construction fer the
years 1910 to 1912, inclusN E.
Exchange Closes Tomorrow.
Following the example of the New
York Stock Exchange, the Washing
ton Stock Exchange will be closed
tomorrow in observance of Columbus
Day, it was announced after today s
session
Washington banks and building
and loan associations will be open as
usual and many of the investment
houses will have part of their stafs
on duty.
New ABA Committee Named.
R. L. Dominick. Kansas CITY
has been named chairman
1t the American Bankers Associa-
ions Organization Committee which
was formerly the Membership Com
nlttee. it was learned today.
President A. L. M. Virgins has
named regional vice presidents to
cover different sections of the coun-
Try, Washington, Virginia and Mary
and territory being represented by
Thomas E. Mcconnell, assistant
treasurer, Maryland Trust Co.
With returns still coming in, the
Treasury has announced that recent
War bond sales are now we'll above
sl8,000,000,OO0
Lanston at New 1943 Peak.
Lanston Monotype stock reached
a new l943 peak of 38 on the WASH
lngton Stock Exchange today, I'D a
full point. The stock has advanced
from 30 during the year.
The market opened the week
strong, the leading sale being a 200
share transfer Of Washington Gas
S5 preferred at 1861.
Thirty-five shares of Capital Tran
sit changed hands at 301,, off 4
Lincoln Service common appeared
on the board at IL, up full point.
Mergenthaler Linotype came out
on two sales at 357s, fractionally
higher than last weeks close.