Evening star., 1944-02-06
Acacia Shows
Sharp Gains
During 1943
so Per Cent Increase
In Placed Business
Recorded in Yeor
BY EDWARD C. STONE.

ny EDWAhD u. SIONE.
William Montgomery, president O
the Acacia Mutual Life Insuranc,
Co.. reported yesterday that on De.
cember 81 insurance in force totalec
$514,362 ,2S4, net gain of SAG, 1862,
158, more than 112 per cent ovel
the net gain registered in 1912
Placed business in 1943 reached 8
total of S67,l11 ,602, an increase Of
30 per cent over the precedine
year.
Assets amounted to more than
s119,000.000, an increase of $10,O00,-
600 over 1912. The lapse rate
reached a new low of 2.92 per cent
AT The same time there was a SUBJ
stantial reduction in the number
and volume of policy loans, attest
ing to the high level of employ
ment throughout the country.
During the year. average annual
production Of all field representa-
tives was 1921 900, largest in the
companys history, as we'll as the
largest average of any company In
America, Mr.. Montgomery said.
: The company plunged further into
the war effort during the year, pur-
chases of war bonds totaling nearly
.Sl4,O0o,0O0. Last years purchases
were augmented during the past
week by the purchase of $4,000 900
OF Fourth War Loan Bonds, bringing
the company's aggregate holdings
OF United States Government secur-
Z. itles 10 approximately $27OO,OOO.
These holdings will be substan-
TALLY enhanced from time to time,
the report concluded.
Building, Loan Assets Climb.
Combined assets of the Is men,
Der associations composing the Dis
trict Building and Loan League
reached new peak in 1943, gaining
$14,677,288 during the year and
standing at S195,453, ,412 on Decem-
Der 81, Secretary F. Wilson Camp
stated in his annual report, out yes
terday.
The sharp gain was due to the
rise in share money, which totaled
$174,8S6, ,302 on December 81, against
$159,950,744 year ago. Little
change was noted in mortgage loans,
the year-end total aggregating
$165, ,447, ,268.
The 25 associations had 172,O46
borrowing and investing members
at the end of the year, a new high
mark. Reserves were up, standing
at S17,517,629, a gain of $1,746, 400 in
1943.
Heavy purchases of War Bonds
throughout the year also were re-
vealed in the statement.
Bond and Stamp Sales Jump.
Due to the Fourth War Loan
drive, bond and stamp sales at the
City Post Office and branches dis
closed sharp upturn in January,
Postmaster Vincent C. Burke said
yesterday.
War Bond sales reached S1,123,-
1875. an increase of 1899 ,O18.75 over
December and one of the biggest
months on record.
The number of War Bonds sold at
the post offices reached 25,193,
against 22,436 in December, and
figure rarely exceeded in other
months.
December War Stamp sales to-
tailed s362,300, against S34S,500 in
December, gain of $4,000.
Hedge on Insurance Program.
Herbert A Hedges, president of
the National Association of Life
Underwriters, will be the guest
speaker at the March II luncheon
of the District Association at the
Willard Hotel, it was learned yes
terday.
Past presidents of the District As
sociation are to be specially honored.
all having been invited to sit at the
head table. Nominations for the
board of directors will be presented.
The underwriters are struggling
to raise their Fourth War Bond Loan
quota of S1,050000. The last report
showed Acacia Mutual ahead in
number of sales and volume. Met
ropolitan Life was second in sales
and Mutual Benefit of New Jersey
second in volume. j. A. Barbeau is
bond chairman.
Installment Accounts Expand.
The Federal Reserve stated yes
terday that department store INSTALL
msnt accounts rose more than sea-
sonally in December and amounted
to about three-fourths of the year.
ago volume. Collections on INSTALL
ment accounts increased slightly.
Charge accounts showed less than
the usual seasonal rise and were on
about the same level as on the same
date year ago. Collections were
per cent better than a year ago.
Cash sales were 10 per cent above
December year ago, smallest gain
of any month during 1943.
Bonds Fractionally Lower.
Washington Gas Light SIS, 1860
highest priced bonds listed on the
Washington Stock Exchange, were
off a half point in their first sale
this year, at 1913. Washington Rail-
way & Electric As, which came out
at 108, were also off half a point.
Caital Traction SIS were down
fourth in their latest 1914 sale at
los. While there have been plenty
OF bids for the other utility bonds,
hcloers have been unwilling to sell.
The auditors section of the Dis
trict Bankers Association will send
g delegation of about 80 members to
-alt:more later this month. where
they will be guests of the Monument
City auditors.
The Financial Advertisers Associ-
alton will hold group meeting in
New York on February 81.
Henry C. Merritt, with 20 years
experience in finance, has been ap-
pointed assistant to President John
L. Clark of the Association of Stock
Exchange Firms.
isted Tfork Vnluee