Evening star., 1943-06-21
Telephone Officials
Report New AII-Time
Record in Stations
Gain in May of n 1,050
Over Like 1912 Dute
Shows War Expansion
By EDWARD c. STONE.

by EDWARD u. SloNE.
Telephones in service in the Dis.
trict of Columbia reached another
all-time peak in May, continuing
the long list of monthly records
officials of the Chesapeake g. Po.
tomac Telephone Co., announced
today.
The report revealed an increase
due to wartime expansion of l,05C
telephones over May of last year
and a gain of 624 phones over the
preceding month this year.
There were 364,549 telephone sta
tions in use at the end of May IN
comparison with 343,499 on the cor
responding date year ago, the
report stated.
Average daily calls per day were
not up to the record for May, 1912,
the company again requesting that
long distance messages be limited
to those connected with the war
effort. Daily calls this year aver
aged 1,510,059 against l,603,625 "a
year ago. officials said.
Calls were the lightest of any
month this year, January holding
the record of 1,606,4l3.
Insurance Upturn Gratifying.
Members of the District Life Un-
derwriters' Association were elated
over the gain of % per cent in life
insurance sales in May over the
same month last year, after the
declines early in the year. The
report shows the District led sew
eral other cities, including Boston
in which sales were up per cent;
per cent; Philadelphia, l8, and St.
Louis, 9 per cent.
Chicago sales, however, were %
per cent ahead of last year, 81 per
cent in Los Angeles and 80 per cent
in New York The Districts de-
crease in five months compares
with an average drop of 10 per cent
largely responsible for this decline.
Washington agents believe the in
creased demand for life insurance
will continue in spite of Govern
ment competition through policies
for men in the service and the huge
sums being placed in War bonds.
Bond Drive Support Pledged.
w. L. Hemingway, president of
the American Bankers Associa-
ton, has pledged full support of
the organization to the Third War
Loan Drive which will begin late
In September and last three weeks.
He adds that each one Of the 46
States and the District of Columbia
will have its own organization, this
information coming from Secretary
Morgenthau.
In the same statement, Mr. Hem
lngWay mentioned the activities of
Government farm agencies and said
that there are now % agencies in
the Federal Government that are
ABA is strongly opposing the con-
tinuance of many of these agencies,
he said, adding:
We are opposing and will con-
tinue to oppose any Government
lending agency which is created
for the purpose of so-called social
benefits We believe that these are
merely the entering wedge for a
complete socialization of our econ
Omy. Believing in the system of
free enterprise. we will naturally
combat any inroads on that sys-
tenn
Extra Interest in Market.
Washington Offices Of New York
Stock Exchange firms were crowded
today for the opening, on account
of the tense coal situation and the
possibility of sharp market break,
Brokers said the strike move had
been largely discounted as the open
ing was only fractionally lower and
the volume of trading slow. Traders
took the view that some adjustment
must be found soon to keep up coal
production to meet war demands.
Among the 10 stocks that made
new high marks on the New York
Exchange Saturday were G. C. Muir
ply, j. J. Newberry, j. C. Penney,
Allied Stores and General Mills.
Woodruff Next Mortgage Head.
Nomination of H. G. Woodruff of
Detroit for the presidency of
the Mortgage Bankers Association
means he will be the next head
of the organization and will sue
ceed Charles A. MulleniX of Cleve-
land. A native Of Michigan, he has
been in the mortgage and banking
business for more than 80 years.
The election will be in Chicago in
the fall.
A. Scott Offutt, president of the
District Bankers Association today
felicitated Edwin c. Graham, presi-
dent of the Hamilton National
Bank, on the occasion of another
birthday anniversary.
G. Bowie Chapman of the WASH
ington Office of Laidlaw & Co., will
leave here Thursday for two
month stay at Ventnor, N. j.
Bank Stocks in Demand.
Riggs National Bank common
stock figured in a 45-share sale at
285 on the Washington Stock Ex-
change today, same price as in the
last previous transfer.
American Security e. Trust stock
came cut on the board at 200. on
l5-share sale. The sale was also at
the high for the year reached re-
Gently.
Capital Trans:s again moved at 81,
Gsrfinckel common registered a 40
share sale at 112s and Potomac Elec-
trio Power 5la per cent preferred
figured in the days trading at 1854