Evening star., 1944-04-09
Insurance Men
Plan Conc|ave
Al Baltimore
Five Nationally Known
Speakers Listed for
Two-City Sessions
BY EDWARD C. STONE

BY EDWARD c. STONE.
Five nationally known speaker
will address the 26th annual Wash
ington Baltimore Life Insuranc
Sales Congress, at the Lord Balti
more Hotel. next Friday. Charles W
ODonneil, president, District Un
derwriters' Association, announced
yesterday He added that the Cap
ital delegation promises to be on,
of the largest on record, most O
the members to make the trip b,
train.
The speakers include Deane c
Davis, vice president, National Life
of Vermont; Timothy w. Foley
State Mutual Life Assurance Co.
New York; H. P. Gravengaard, as.
sociate editor, Diamond Life Bulle-
tins; Robert w. Stowell, agent,
John Hancock Mutual, Bridgeport
Conn, and Ben H. Williams, vice
president and director of training
Mutual Life, New York.
Paul Hammack is registration
chairman for the District under
writers. Mr. ODonnen said attend
ance is limited to 500.
Reilly Heads Bank Committee.
John A. Reilly, president of the
Second National Bank, has been
appointed chairman of the Pro-
gram Committee for the June con-
vention of the District Bankers As
sociation, President A. Scott Offutt
announced yesterday. Mr.. Reilly
was head of the association last
year.
A. M. McLachlen, vice president
and treasurer of the McLachlen
Bank, and head of the association
In 1910, is vice chairman. Other
members of the committee, all high
ranking bank officers, include
Francis G. Addison, jr.; Robert v.
Fleming, Lanier P. McLachlen,
Thomas M. Groom, Ord Preston, T.
Stanley Holland, Charles H. Doing,
Clarence F. Burton, Wilmer j. Wal
Ter ana G. II. Pope.
Nonfarm Mortgages Soar.
Recordings of nonfarm mortgages
for the country during February
totaled s31o,ooO,o0o a Jump of Al per
cent over February, 1943, and per
cent above the January volume, the
Federal Home Loan Bank Admins
tration reported yesterday.
Building and loan associations
had a gain of 13 per cent over jan
uary and miscellaneous lending in
stitutions noted slight advance
tn other lenders reported declines.
Allaclasses of lenders, however, ex-
ceeded their February, 1943, totals.
Bnilding and loan mortgages num-
bered $4,000 for $1o1 ,fo5 900; itis,fre
allee companies, 3,868fr $18, ,753, 600;
banks and trust companies, 17,625
for $50 ,346 900; mutual savings
banks, 2,306 for 50 ,294 900; individ-
uals, 30,029 for $72,246 900; other
mortgages, 12,2l7 for SAT 800 900.
Federal Sales Caution Urged.
Associated Equipment Distributors,
national organization of construc-
ton equipment manufacturers and
distributors, with Offices in the Press
Building, has adopted resolution
urging the Government to use great
care in the sale of tractors, cranes,
shoyels, paving machines and other
construction equipment after the
war.
The association suggests that
much of this material should be
used by existing Federal agencies,
Or sold to State and local tax-sup-
ported bodies, the balance to be dis
posed of through established trade
channels in a way which will pro-
tect small business. 1t is estimated
the surplus machinery will be worth
$1,000 600 600.
Disposal will take from three to
Ave years in order not to unduly
disrupt trade and commerce, the
rS6olution says.
Kendall on Shippers Program.
Warren c. Kendall, chairman of
the car service division, Association
Of American Railroads, will address
the Atlantic States Shippers Advi-
sorry Board at Syracuse next Thurs
day on Transportation Conditions. :"
William White, president, Delaware,
Lackawanna & western, also will
speak Shippers and rail officials
will attend from six States and the
oictric+ of Cn1,,y,ohio
Frederick M. Babcock, vice preSi-
dent of Allied Building Credits, Inc,
will address Washington Chapter,
Society of Residential Appraisers,
at a dinner meeting tomorrow eve
ming at the New Ebbitt Hotel. He
Is vice president and member of
the editorial board of the national
organization.
Assets Exceed S2O0, 0,OOO,O0
Resources of the 25 associations
In the District Building and Loan
League have passed the 5000, ,000,0 900
mark, President Clarence E. Ke-
fauver announced yesterday. Since
April year ago these associations
have aided the war effort by placing
over $l8000,000 in Government
bonds. For the first time, surplus
and reserves constitute 10 per cent
or more of share liabilities.
Leon F. Lamb, for II years aSso-
ciated with the Perpetual Building
Association, has formed real es-
tate firm partnership with Bruce
Kessler.
Railway Preferred at Peak.
Washington Railway 81 Electric
preferred has scored a new high on
the Washington Stock Exchange by
selling at 119a. The stock pays
per cent, the present yield being
around 4.10.
Terminal Refrigerating & Ware
housing 4As registered five $1,000
and two $4,000 transfers last week al
f041z, first sales this year and for g
much longer period.
The Citizens National Bank, Con-
cord, N. c., has joined the Fedora.
Reserve System, Hugh Leach an
raounces.
Harrison to Address Bankers.
Nelson IT Harrison of the law firm