Evening star., 1949-12-14
J. H. Baldwin Elected
As Head Of Insurance
General Agents Group
By Edward e. Stone

j. Hicks Baldwin, general agent
of the New England Mutual Life
Insurance Co., was elected presi.
dent of the Life Insurance Gen.
eral Agents and Managers Asso
citation at the National Press Clul
last night.
Laurence w. Brown, jr., Reli
ance Life, was named vice presi
dent and C. Carney Smith, Mutua
Benefit of New Jersey, secretar.
treasurer.
Four directors were elected
Claude A. Cook, Equitable Lift
Assurance Society; Raymond H
Godine, Continental-American; j
Mitchell Owens. John Hancock
and Chester R. Jones, State
Mutual.
Union Trust Votes Extra.
Directors of the Union Trust
Co. have declared the regular
semiannual dividend of so cents
a share and in addition a spe.
cial dividend of $1.15 share, botf
payable January 16 to stockhold.
ers of record December 80, Pres.
ident L. P. Harrel announced.
This is an increase over 194'
when the dividend was so cent
regular and so cents special. Tht
increased special dividend reflect!
the banks 1949 earnings record
best in it's SO years history, Off.
cials said. With the July pay.
ments the bank has paid S2.1s
per share for the year.
The board voted the usua
Christmas bonus and announced
a 50th anniversary banquet to be
held at the Mayfower Friday
night.
D. C. Furniture Sales Rise.
Retail furniture sales in 81,
Washington stores in October
were per cent ahead Of the
same month last year and in the
10 months of 1949 ran 10 per cent
better than a year ago, the Rich.
nnond Reserve Bank reports.
Wholesale trade of 100 firms ir
the Fifth District in October
showed IL per cent slump fror
1948, electrical goods disclosing g
drop of so per cent, industrial
supplies, 46; hardware. %, and
drygoods, 81. Auto supplies gained
26 per cent over 1948.
A. g. p. Staff Gets Bonus.
Washington employees of the
Great Atlantic & Pacific Tea Co
will share in the annual Christmas
bonus, announced today by Board
Chairman John A. Hartford, which
will be distributed on December
Is.
The bonus nationally totals ST.
250,O00. Employees with six months
or more service will enjoy the
Yule gift. A year ago the grocery
chain voted $2,10O,0oo additional
compensation.
The United States Saving anc
Loan League forecasts expansion
of activity in the lower price home
field in 1850 and a letdown ir
high price home building. Build
ing in the medium price field will
run on a par with this years level
according to these predictions.
Sullivan on Bank Board.
AS announced by Bruce Baird
late yesterday, John L. Sullivan
former Secretary of the Navy, has
been elected director of the Ma
tional Savings & Trust Co. He is
now head of the law firm of Sulli-
van, Bernard & Shea.
National Savings directors have
declared the regular quarterly div
idend of So and an extra dividend
of 81, payable February /.
Washington business leaders,
John A. Reilly, president of the
Second National Bank; Ralph
Goldsmith, vice president and
general manager Of Lansburgh's,
and Charles B. Dulcan, ST., vice
president and general manager of
the Hecht Co., were highly opti-
mistic on the 1850 outlook for the
Capital, at the Ad Club luncheon
yesterday.
Insurance Law Opposed.
The Executive Committee of the
National Association of Insurance
Agents. meeting here, proposes re-
peal or amendment of the "coun-
tersignature" laws whereby an
agent in one State, by counter
signing a policy, is able to COL
lect large fees which have not
been earned.
National Savings & Trust Co.
employees will hold an elaborate
Christmas party at the Columbia
Country Club this evening, with
Joseph Riley, club president, well
coming the guests.
David Kaufmann's Sons, elec-
trical appliance and radio dis
tributors, will open a Washington
branch at 1915 Kenilworth avenue
NE, on December 27. The
branch will be operated as the
Kaufmann- Washington Co., Inc
More than 800 Ford dealers and
employees held a Christmas dinner
and party at the Statler Hotel
last night, when $4,000 in prizes
was awarded for sales records dur
ing the year. c. M. Murphy pre-
sided and the awards were made
by Howard w. Cook.
Demand Deposits Jump.
Demand deposits in Washington
banks reached $751, ,118,0O0 in the
week ended December 7, gair
over the preceding week of $12,.
$4,000, the Richmond Reserve
Bank reported today. Total as
sets were up $7,382,000.
Total loans were lower, but COM
mercial and real estate loan!
showed advances. Investment.
gained more than $4,000,000.
Industrial Dividend Voted.
Directors of the Industria
Bank have declared a per CEN
dividend payable January "a tt
stockholders of record Decembel
81, same amount as last year
Vice President B. D. Mitchell an