Evening Star Newspaper, March 30, 1929, Page 26

"'FINANCIAL., ' D. C. BANKERS HEAR TALK BY COGSWELL Register of Wills Urges Six- Month Period for Settle- ment of Estates. BY EDWARD C. STONE. Speaking before half a hundred Wash- ingion bankers- at the University Club last evening, Register of Wills Theodore Cogswell made a strong plea for a much more rapid settle- ment of estates in the District, urging a six-menth period of administration instead of a year, declaring that in most cases the shorter time would be ample. “The Administration _of Estates” was subject before the sankers’ association Aduciary section. “There have been, of course, modifica- tions, additions and repeals, but there is still room for a great deal more if our probate laws are to keep abreast of the progress being made in the pres- ent method of handling estates,” he sald. He mentioned the “Maryland act” as the basis for the District law and said that under the law the first account of an executor or administrator cannot pe approved and distribution made to the creditors, legatees or distributees until one year from the date of the appointment of the fiduciary. “Why could not the law be cnanged” the speaker asked, “so as to provide a six- month period of adminisration, which in most cases would be ample?” Would Follow Bills Closely. The suggestion was made by the speaker that it might be a good thing | for the fiduciary section to have within itself a committee whose duty it would | be to obtain copies of all bills intro- duced in Congress affecting the admin- istration of estates and to make a care- | ful study of the same with a view to personally appearing before congres- sional committees in support of or in opposition to such proposed legislation. The speaker cited a number of cases indicating that laws might be changed for the better, although no criticism was leveled at the makers of the laws as they now stand. “Under the present law respecting guardians,” he said, “it} requires almost the employment of foul means to obtain any recompense for the intricate and arduous duties of guard- jan. Bear in mind that the section stafes that the guardian shall receive a commission on the amounts collected if and when disbursed; in other words, the more a guardian can spend the higher his compensation will be. and if he con- | serves the estate and spends nothing, he | gets nothing for his labor and economy. How Judges Are Hampered. “The courts are naturally interested in all proposed legislation,” he staled, | “but the justices of the court, in most cases, cannot with propriety appear in opposition to or in support of proposed legislation, hence such organizations as this and the Bar Association of the District of Columbia must bear the bur- den of properly placing true facts be- fore Congress in regard to proposed bills affecting the things in which they | are vitally interested, or must them- | selves propose such legislation as mighi be helpful in the administration of Jjustice. “One of the requisites which I have | felt at times is sorely needed in this jurisdiction for the guidance and pro- | tection of fiduciaries in a list of invest- i ments legal for trust funds in accord- ance with the provisions of the rule for the investment of trust funds, known as equity rule 71 now in force. | At the present time there is no such | list nor has one ever been compiled for the District of Columbia. A nuin- ber of Eastern States, among them New | York, Massachusetts, New Jersey, Con- necticut and Maryland, have such a lisi and it is revised yearly. Naturally a| great responsibllity rests upcn those in ! charge of such a compilation.” Chairman F. P. H. Siddons called the meeting to order, President Robert V. Fleming of the District Bankers’ As- sociation spoke briefly and reports were made by William H. Baden, Kenneth H. Brooks and T. Stanley Holland James M. Proctor spoke briefly for the District Bar Association. Two Steamboat Directors Named. At the meeting of the directors of the Norfolk & Washington Steamboat Co. held Thursday the office of chairman of the board was created and Clarence F. Norment, sr., was elected to same. The | directorate was increased by two, E. C., Brandenburg and George L. Starkey being elected to fill these positions. { The directors of the company now | are Charles J. Bell, Woodbury Blair, | Edwin C. Brandenburg, Daniel J. Cal- lahan, Gustavus W. Forsberg, Clarence F. Norment, sr.; Clarence F. Norment, jr.; William E. Pearson, B. Francis Saul, Odell S. Smith and George L. Starkey. ‘The officers are Clarence F. Norment, sr., chairman of the board; Charles J. Bell, president; Clarence F. Norment, | jr., vice president; Daniel J. Callahan, general manager, and Odell S. Smith, secretary and treasurer. Heard in Financial District. 1t is estimated that the gain in de- posits by Washington banks on the call of March 27 over that of December ‘Theodore Cogswell. STATEMENT OF THE CONDITION OF THE Allemannia Fire Insurance Co. of Pittsburgh, Pa. On the 31st day of December. 1928, as required under the District of Co- lumbia Code. amended June 30, 1902, and August 18, 1911. Capital stock = Capital stock paid up. in cash .. $500,000:00 500.000.00 Cash in office Cash in ba Real estate eal _ esta (first lien)..... ks and bonds (mar- ket value Premiums uncoiiected in hands of agents..... Interest due and accried. All other assets: Reinsur- due on paid losses $241.94 346,679.53 157,750.93 2.052.305.00 2,051,744.00 347.840.20 55.463.00 2.543.98 LIABILITIES. Net unpaid claims.. Reserve ©. $480,142.00 required by 2,341,903.94 114.811.43 10.000.00 500,000.00 1.567.711.18 brokerage, Character _of business transacted during the year 1928: Fire. tornado, earthauake, automobile, hail. sprink- flood. riot. eivil commo- ion, umed ‘during the vear 1928.268,214.705.00 Losses sustained during h 1,076,983.58 e _yeal Biii oz Money_ received during the year 192 2.499.495.84 2.209.033.98 President. G. W. UNVERZAGT, . retary. Subscrived and sworn {6 befgre me s ay of February. 1929, thens 47 o KR FRAN otary Public. My commission expires darch 6. Geo. H, Price Co., Inc. ¥. HAROLD DELAND, President, PRICE. M. L. Il‘i‘lJ«IKl.ll 4686, 4 { Manufacturers’ 31, 1928, will reach hearly $4,000,000, a sighly gratifying figure in view of re cent withdrawals for income taxes, sonal and real estate taxes. Fortunately some of the funds for the personal and real estate taxes had not been paid be- fore the date of the call. x Credit for suggesting the urgent need of reducing the period for administrat- ing estates In the District from a year to six months was given by Theodore Cogswell in his address last evening to George E. Fleming, vice president of the Union Trust Co., and former presi- dl!nt of the District Bankers' Associa- tion. The Interstate Commerce Commission today was asked for permission by the New York Central to sell $6,300,000 in couipment trust certificates, the pro- ceeds to be used in the purchase of 100 locomotives. The bonds are to rep- resent 75 per cent of the cost of the engines. E. D. Rheem, vice president of Swart- zell, Rheem & Hensey, is spending a few days at Pinehurst, N. C. He is expected back at his desk Monday. J. B. McDougal, governor of the Fed- eral Reserve Board of Chicago, came to Washington, and attended cne of the Reserve Board meetings here this week. Improvement is reported in the Chi- cago credit situation. Southern Reports Larger Assets. The Southern Railway Co. has issued its pamphlet report for year ended De- cember 31, 1928. Total assets on De- cember 31, last, were $686,384,391, com- pared with $672,318,694 end of 1927, and, profit and loss surplus, $111,747,- 853, against $105,849,240. Current assets Were}59flia.(42, and current liabilities, $21,370,678, as compared with $62,- 860,564 and $21,722,962, respectively, at clolse of previous year. ncome account, which has already been published, shows net income of $19,267,132 after taxes and charges, equivalent after 5-per cent - preferred dividends, to $12.53 a share earned on 1,300,000 shares of common stock. This share on common in 1927. A Dirge. “Rock-a-bye, trader, on the ti When the board mests, - 0 P The market will rock. When'the rate rises, quotations will And down will come trader, margins and all."—Wall Street Journal. Wall Street Briefs By the Assoclated Press. All security and commodity markets, except the New York produce market and the Chicago Board of Trade, were closed toda; Net income of the New York Dock Co. in the first two months of the year totaled $80,534, compared to $108/434 in the corresponding two months of 1927, The All-America Cables, an affiliate of the International Telephone & Tele- graph Co., on Monday is taking over the management and operation of the United States and Haiti Telegraph & Cable Co.s cahle property in New York. As a result of this change All- America Cable announces a reduction on the cost of messages to Venezuela by & direct submarine cable. Awards of heavy construction and engineering projects for the past week were valued at $65229,000, which compared with $55,923,000 in the pre- ceding week, and $101,034,000 in the { corresponding week last year, Engineer- ing News-Record reports. While the total for the week was lower than in the corresponding 1928 period, the cumulative total continues well ahead of last year. The money value of con- tracts: let since January 1 totals $1,121,942,000, which compares with $790,793,000 for the same period last | year. Lumber demand continued its strong upward trend in- the week ended March 23, with 798 hard and soft wood mills, 14 less than the previous week, reporting to the National Lumber Association. Orders reached a total of $420,881.000 feet for the week, compared to 395,689,000 for 812 mills a week earlier. A melon of $12,730,000 will be dis- tributed to shareholders of the Chem- jcal National Bank and of the United States Mortgage & Trust Co. as & reSult of a proposed merger of the two banks into a new institution to be known - a8 the Chemical Bank & Trust Co. The combined bank will have Tesources approximating $400,- 000,000 and deposits of $282,000,000. FAT CHEFS BARRED. Hoteél Buys Oxford Shell for Help to Reduce. LONDON (#).—The chefs of a fa- mous London hotel have been placed on a diet to reduce their rotundity. “Their striving for sylph-like forms is to be helped by a course of rowing, for which the hostelry has purchased the shell in which the Oxford crew lost to Cambridge three years ago. The fat cook may be traditional as well as a good recommendation for his viands. But—said the chief chef in laying down the slimming law—the obese chef is likely to lose his sense f taste, a_primary virtue which must be dearly cherished. Undoubtedly the in. with a" good yield Company. and bad. * as low as $100, WASHIN ] compares with $21,699.907 or $14.38 a | _ ' THE EVENING STAR, WASHINGTON, D. O, SATURDAY, MARCH 30, 1929, EXPANSION OF CURB MARKET FARMERS ATTEMPT 10 REDUCE COSTS Heavy Purchases of Agri-: cultural’ Machines. BY J. C. ROYLE. Speclal Dispatch to The Star. NEW YORK, March 30.—Sales of agricultural’ implements continue in extraordinary volume. It is evident that the farmers are determined to reduce costs. They have found that up to date power machinery can ac- complish this. The amount of ma chinery being bought, therefore, is a better indicator of the actual financial position of the farmer today than any- thing else, according to the eorn belt farm dailies, an authority on the agri- cultural situation. Farm lands are at a lower price in the farm belt than at any time since the war, but this does not indicate demoralization of agriculture. The fact that farmers can and do buy farm machinery, automobiles, radio sets and washing machines indicates a better po- sition than the prices for farm lands would indicate. Production Increases. At present there is no active mar- ket for farm lands and little surplus cash for investment in them. Produc- tion of farm’ products is still excessive and more land is not needed. Perhaps | the last thing to show the improve- ment which may take place in the po- sition of the farmer will be farm land values, The number of farm workers has been generally decreasing in proportion to the population, but the production of farm crops has been just as steadily increasing in the last generation, ac- cording to the Farm Journal. Mecha cally pulled plows, grain harvesters and machines which pick corn, hoe out weeds from the young crops and dig potatoes are making it possible for one man to do the work which once oe- cupled three to five workers. The big combines have replaced crews of ten to twelve men. "The combines are not & new develop- ment. They were Invented and built as early as 1848, but demand hess risen | until there are 60,000 in this country {and 20,000 in Kansas alone. It is claimed they have reduced the cost of harvesting grain 15 to 20 cents a bushel. Corn planting has been speeded by ma- chines, which operate over four rows simultaneously. There are somewhat fewer cattle and | hogs on the farms now than a year ago, but the farmers who count on selling their corn in the form of meat | have good prospects. Visible supply of corn is well under that of & year ago and export demand has been higher. The Argentine crop now maturing is expected to be 75,000,000 bushels short of the previous yleld. Cash corn since | November 1 has brought an average be- | tween 83 and 99 cents. Government | figures as of the first of this month showed farm reserves of 1,030,000,000 | bushels, 64,000,000 under the five-year | average, Crop Outlook. ‘The outlook for wheat is mot so | bright. This is due in no small part | to the foreign situation. It is the price | that the surplus, which cannot be con- | sumed in the United States, brings in | word markets which determines the price here. Competition in those mar- kets is tightening. Canada has increased wheat production to above 500,000,000 bushels a year and the Canadian water- ways will soon be carrying grain to Europe. Australia has doubled its wheat acreage in the last few years. Argentina can be counted on to market abroad approximately 140,000.000-bush- | els. Russia is buying machine and planning to add 5,000,000 acres to wheat plantings. ‘That is the situation of the wheat | growers as Congress prepares to take up farm relief, which, despite current optimism, agriculturists agree is sorely needed. Perhaps as sharp a struggle as any will come in conjunction with the situation of the sugar beet growers. The sugar producers, both cane and beet, are urging strengthening of the tariff walls, declaring their very exist- ence is threatened. WORE HIGH HAT IN EXILE. Count Says Napoleon Surrendered in “Topper.” PARIS (#).—Another Napolecnic le- gend has gone. The Count dé Bondy. an authority on Napoleonana, says it was not the legendary figure of the Little Corporal in the gray “military overcoat, one hand behind the back, the other tucked in the front, that bade ,f;l;evlell to his’ gua: before going to a. The count asserts that when Na- poleon surrendered to the allied repre- | sentatives who Were to escort him into exile, he was wearing civilian clothes and a high hat! | Economy Program Seen inj . Yourself & Co. Yourself & Co.—it’s the most im- portant firm in the world. It must be run on a sound business basis. It must have plenty of assets, a iow overhead. and a sinking fund to take care of sudden opportunities and unexpected misfortunes. firm will expand. The new members- ought to have every opportunity to make gond— opportunities the original member may not have had. That’s another place where the sinking fund comes And no firm allows its funds to lie idle—it invests them in securities and a high assur- ance of safety—such an investment as the offering of First Mortgage Notes by Swartzell, Rheem & Hensey Your savings invested in our 6% notes will assure the busi- ness of Yourself & Co. being a sotind financial basis through good times To serve the small investor, these 67 notes are sold in denominations _ SWARTZELL, RHEEM & HENSEY CO MORTGAGE BANKERS 727 15 STREET N.W, GTON D.Cs CAUSES GAIN IN SEAT VALUES Map (above) shows spread of the New York Curb Market, The dotted lines show extensions that wm“ recent years has been phenomenal. be put into use shortly. Above is shown during business hou By the Associated Press. NEW YORK, March 30.—The New York Curb Market, which was a home- less crowd of street brokers eight years ago, has settied down and made of itself a natlonal institution. One by one citles as far West as St. Louis have been linked by direct wire with the floor of the curb market | and plans are under way to extend | services to the Pacific Coast and south- ward to the tip of Florida. Fifty im- portant cities in the North, East and Middle West now have minute-by- minute access to the curb's record of stock and bond transactions. Figures Show Growth. Ghosts of former curb traders who. tradition says, haunt that section of Broad street where a gesticulating rabble surged and shouted in the old days, would certainly look long and incredulously at these figures: In 1921, when the Curb Market As- soclation moved from Broad street and the open sky to its new home in Trinity place, the total number of shares traded in for the year was 15522415. The bonds sald during that year on the Curb were worth $25,510,000. Seven years later, the shares traded in totaled 23¢. 043,682 and the volume of bonds reach- ed $834,893,000. Heretofore, throughout the history of security trading, as soon as a curb group organized itself and moved “in- side,” another curb market would be formed by left over brokers. But when the present Curb Market entered its new quarters street trading in New York ceased to exist. The spread of the Curb's ticker serv- ice began immediately after the move. Today there are approximately 2.000 tickers in various cities and new oues being installed rapidly to meet the Nation's new demand for financial new: Cities to be supplied very soon include | Richmond, Louisville, Akron, Columbus, whose rise in | 'a view of the floor of the Curb Exchange }{eunutown, Minneapolis and Milwau- | ee. Seat Values Gain. The present Curb Market organization is a voluntary, unincorporated associa- tion with 550 regular and 550 associate | ! members. Approximately one-half are co-operating with members of the New York Stock Exchange. The price of a seat on the Curb has risen | from $8,000 in 1921 to about $190,000. This increase, amounting to about 5,000 per cent, is directly the result of in- creased participation by the public in stock trading. ‘The Curb performs a special function of importance in its “unlisted trading privilege.” This enables the mainte- nance of an open market in rights and new securities not yet issued. The list- | | ing fee is $1,000 and the fee for unlisted | privileges is $100. | i Dates are valuable food for the en- | time family and should be given to the | children as well as the adult. RAILROAD IS PLANNING AERIAL CARRIER BRANCH By the Associated Press, . S8T.. LOUZIS, March 30—Plans for eéstablishing aérial transportation in the Southwest as soon as conditions warrant it were announced yesterday by the Missouri Pacific Rallroad. ‘The company announced appointment of Linton Roberts, aeronautical expert and former Army pilot, as aeronautical engineer, and revealed-that it had pur- chased the first railroad airplane, a ‘Travelair biplane, ' with which Roberte and E. H. McReynolds, publicity direc- tor, will make a comprehensive survey of aerial transportation needs and fa- cllities in the territory served by the railroad. The plane is to be flown here next week from Wichita, Kans. ‘The railroad believes it is the first to take a definite step toward adding aif travel to its trans, tion system. Other roads have planned air-rail pro- grams, but in each case the aerial end of the arrangement is in the hands of separate _aerial transportation = com- panies. Before entering the aerial pas- senger business the Missouri Pacific plans to buy additional planes for the use of cxecutives who now spend much of their time on trains. SIREI S I New Haven Net Up. NEW YORK, March 30 (chlfl\.—l The operations of the New York, New Haven & Hartford Railroad Co. for the year ended December 31, 1928, resulted in a surplus, after all charges, of $16,- 887,909, an, increase of $6,455248 over the previous year. After allo for preferred dividends of $3,343,259 and guaranties on separately operated prop- erties of $974,129, earnings on the com- mon stock were equal to $8 re. Gonsult Us First If you need money for your Real Estate financing let us have your application today. Prompt Service No Appraisal Fes The Commercial National Company Incorporated National Bank Bidg, ith ad G a First Mortgage Loans Lowest Rates of Interest and Commission | In Nearby Virginia | Prudential | 5 1/2 % lnmnn::“Co. | Loans Commonwealth Investment Co. | 917 15tk St. N.W. Phone Main 2623 || Mortgage Money Loaned | At Low Interest Rates || Tyler & Rutherford | | Representing Mutual Benefit Life Ins. Co. 1520 K Street Main 475 Make application for money in any amount — for con- struc financing—and prompt report is assured. Low rate of in- terest and com- mission. B. F. Saul Co. M. 2100 925 15th St. Thomas J. Fisher & Company, Inc. || i Commodity. Notes oiL SHREVEPORT, La—One new well was brought in in Arkansas the past week and daily crude production in- creased to 74,155 barrels. Two small wells came in in North Louisiana, but average glauy W&‘}ufthn dropped to ,310. Five natural - wells brought in. s g Lumber. , PORTLAND, Oreg—New business reported by the lumber mills of the Pacific Northwest is running ‘some- where in the neighborhood of 202.- 000,000 feet a week, 40,000,000 feet for export. There are few experienced lumber workers who are involuntarily out of work. Coal. WILKES-BARRE, Pa.—Many retail dealers in anthracite throughout the territory in which that fuel is used will make a cut of $1 a ton in do- mestic sizes of coal April 1. The new price for nut in the Philadelphia dis- trict will be $1350 a ton. The op- :Irlnn':n will cut 60 cents a ton at the Capital & Surplus Every Payday is a with about | Start a Payday account at this sixty Constant Watchfulness ~—renders our property mana ing judiciously there— keeping it rentable, and rented because it is. B.F. SAUL GO Main 2100—925 15th St. Over 50,400 Depositors Earning Capacity Affords No Measure of Your Worth —if you spend your all. What you lay away more’ accurate gauge. hree- }'ear-old bank without delay—and keep it grow- ing. Deposits Lo Open Unt o T OFFICERS: WILLIAM D. HOOVER, President WOODBURY BLAIR, 1st V. Pres. FRANK W. STONE, 2nd V. Pres. FRANK STETSON, Trust Officer CHAS. C. LAMBORN. Treasurer E. PERCIVAL WILSON, Secretary FRANK R. ULLMER. Asst. Treas. UCE BAIRD. Asst. Tr. Offic JOHN W. CALVERT, W. HILES PARDOE. Asst. Treas. ALEXANDER J. FANT, Asst. Secy. JORN M. BOTELER. Asst. S = t. AUDLEY A- F. SAVAGE, An National Savings & Trust Co. | 63d Oldest Savings Institu i Year Same Rate of il5:30 P.M. ‘ln;:regrp:id t and 2nd .AA'Z‘“S...."E'." DIRECTORS: JAMES J. BEC KER WOODBURY BLAIR WM. A H. CHURCI H. WALKER B, WILLARD P. WILSON WILLIA! WILLIAM HARLEY tion in the District of Columbia Cor. 15th and New York Ave. ATEMENT OF THE CONDITION i OF THE Union Central Life Insurance Company of Cincinnati, Ohio the Y 31st day of December, 19 as uired Jander the District of Columbia Cote, Ameiided June 30, 1902, and August 18, 1911, lien) 3 nds (market g‘r}mlnm uncollected ‘and Total assets LIABILITIES. Net unpaid claims . » Reserve as require y Reinsurance I::!mfl;lxm:““.. rme e L DL 1,008,984.01 1,032,172.17 1500.000.00 30.165,504.37 1o e Senr e 3 Kmount “of risk ‘during the vear 1 Losses sustained durin of business transacted dur- 1928 Lite. o 338 .$205.649.914.00 the 2T 14,346,152.00 69,021,519.66 AS; HOMMEYER. Vit vi 3 e ent. CHOWARD COX. Becretary. Subscribed and sworn to before me this ‘day of Pebruary. 1929, (Senl) HAFNER. Notary Public, Hamiiton County, Ohio. Edward S. Brashears. Genl. Agent. _ Barr Bldg. OF THE CONDITION n‘nw 0"1 O] N‘OW Union Indemnity Company of New York, N. Y. 31st. d December, 1928. O e ntier e TDRAEiCE ‘of CommbIA 902, and August equi Code. 3. 1 der the F S nended June Capital stock .. X Sapital stock patd up X in_offic Cash Cash in bank. nd un hands of agenf Interest due and All other assel ‘Total assets. $500.000.00 STATEMENT OF THE CONDITION OF THE Mercury Insurance. Company of St. Paul, Minnesota On the 3ist day of December. 1928. as required under the District of Coiumbia Code, amended June 30, 1902, and Au- gust 18, 1911. 351900,000.00 .. 600,000.00 Capital stock . Capital steck, pald ", cash - $852.13 150,433.26 value) ... . 2,516,588.01 Premiums uncollecied and in hands of agents Interest due and All other assets: Due fr reinsurance companies losses paid .. Total assets . LIABILITIES. Net unpaid claims ... Reserve as required by law.. Funds held under reinsur- ance treaties Salaries, rents, taxes, etc. . Commissions. ' brokerage, etc. Capital stock . All other liabili reserve Surplus “Total liabilitles on 4.199.16 $2.924,220.61 199.030.74 1,316,732.72 22,748.89 Character of business transacted dur- 1028: Fire. lightning, tor- earthquake, _ insurrection. = riot, commotion. explosion. . automobile, inland year 1928 . Money receive year 1928 .. Expended duri 1928 ... 5 . F. CODERE. . Vice President. J. C. McKOWN. Secretary. Subscribed and sworn 1o before me this 3ist day of January. 1 (Seal.) ALEX Notary Public, ay LAWSON. Ramsay ' County, Minn. My commission expires July 35, 1935. BTATEMENT OF THE, CONDITION OF THE Eagle Indemnity Company of New York the 31st day of cember, 1928, as \d District of Columbia m’i:“fl ine 30, 1003, and Au- on 1eq; .| susi - .$760,000.00 i «+e. 750,000.00 Capital stock . Capital stock, cash $21,875.19 . 49857972 4,098,530.00 762.098.17 44 All other assets 23.418.77 Total assets .. .. LIABILITIES. Net unpaid cls Total liabilities . | Character of business transacted dur- ing the year 1928: Casuaie, Haeitty and Amount of premiums writ- 3 dufing”the vear T2y 33,172,008.36 $4.494.12845 Presigent. tary. Sworn to before me this DISTRICT AGENCY COMPANY GENERAL AGENTS Edward S. Brashears, Managing Director BARR BUILDING Suite The official personnel of office is at your 1100 this service in any matter relating to Insurance. D. G. Davis R. E. Titlow Max Vollberg Horace J. Phelps Wm. N. Greenwood Le STATEMENT OF THE CONDITION OF THE Caledonian American Insurance Company of New York On the 31st day of December, 1928. as requived under the District of Columbia mended June 30, 1902, and August It $200.000.00 337.248.54 007.450.00 ed and 10 mes1001 Premius hands of agents. Interest due and accrued. All other, assets. Total assets. 324.181.72 317.219.12 Salaries, 17.200.00 s, taxes, etc All other li + "Total linbilities . 3682712 . Character of Business transacted dur- “ing the year 1928: Fire ‘and tornado. i it i assumed b FATOUDY e SeaF 1000 .. -35.558.997.00 120.147.97 334.517.30 year 1 Subscribed and sworn 4o before me this 20th dey of Pebrusry, 193, . 34 g HENRY Rotasy Publie. J. S. Long V. B. Greeley rd F. Ruoff Henry C. Y. C. H. Weaver J. A. Kamerow J. W. Lovegrove Wm. T. Poole R. K. Benner Samuel M. Marks STATEMENT OF THE CONDITION OF THE Palatine Insurance Co., Ltd. of London, England On the 31st day of December, ‘1928, as required under the District of Columbia Gode, amended June 30, 1902, and August ASSETS, Cash in bank.. . $311,972.81 Real estate mortgages (first lien) .. 27500.00 (market Stocks ‘and bonds - 3,803.315.00 value) Bills receivable. 1.961.41 238,103.27 Premiums uncoll Rands ‘of agents. o 48.760.90 834.67 Interest due and accrued. .. 34522,448.06 ALl other assets. Fotal LIABILITIES, id claims. .. . $265.476.00 required by law.. 1.938.477.88 toTete: . exvenses. assets. . Net un; Reserve Salaries, taxes, Commissions, brokerage, etc. All other liabilities. Surplus . 97.500.00 7,000.00 . 78,78 . 2,137.207.18 Total liabilities..........$4,522,448.06 P 4 transacied dur- Charzcter o!,l’!.luln ‘nland navigstion and trans. ) portation. tornado. windstorm an plosion, hail, cyclone, 11 Bt T S, s s Amount of risk assumed during the year 1928....5338,500,738.00 Losses ined d our o e e eas904.04 2,040,518.46 Money received during the 2,011.498.48 KR L 3 K . 8. M ribed and sworn 0 before 15¢] y of February, 1929. Notat Public, Bronx No. 1 Hew ¥4 No. 145, me this STATEMENT OF THE CONDITION OF THE Peoples National Fire Insurance Company of Delaware On the 31st day of December, 1928, as required under the D:strict of Columbia Code. amended June 30, 1902, and August 18, 1911. Capital stock . : Capital stock. paid ul cash .. ASSETS. Cash in office Cash in bank Real estate Resl_estat $300.00 640.159.84 82.147.90 ‘morteages (first lien) o g’ 90,100.00 Stocks and bonds ' (market value) 3,940,185.00 342.265.8% 8,309.83 “Premiums_uncoliected and ‘in hands of agents . v Interest due and accried.. All_other assets Cert. of deposit—Phila. Fire nd. Assn ... 3 300.00 Collateral loans . 000.00 Total assets . 36,104,268.13 LIABILITIES. Net unpaid claims. $209.274.00 Reserve as required by law. . 1,880,241.11 Salaries, rents, penses, taxes. etc. 66.000 00 Commissions. 3.000.00 Capital stock Total liabilities Character of bus| ing the year 192t of insurance. Amount of risk assume during the year 1928 Los’ s sustained during tl vear 1928 ......... 3 oney received during the $2,958,515.11 ss transacted dur- Fire and allied lines d $258.655,493.00 881,790.41 2.481,608.44 18 _.eineooaioioaons. . 1940.877.05 H. i DARRETT, Vice President. . E. THOMS. Asst. Secretary. Subscribed and_sworn to before me this 14th day of February, 1929. (Seal.) WILLIAM J. O'HEARN. Notary Public. Queens County. 0. Register's_No. 3891 filed in New York Co. 91 145, “Appointment_ expires Marcir 30, STATEMENT OF THE CONDITION OF THE Standard Accident Insurance Co. of Detroit, Michigan e 31st day of December. 1928, as re- auired under the District of Columbia Code. amended June 30, 1902, and August 18. 5 Capital stock ... $2.500,000.00 Capital stocl n 2,500,000.00 Real estate Real estate mortgages (frst lien) 2 .. 2.857,650.47 s (market value) . 14,463.812.96 Rills receivable : 7438236 Premiums uncoliecte: Interest due and acci i I other assets: Equity in Workmen’s _Compensation Reinsurance Burean....... Collateral loan, $12, 5o cellaneous assets, $5,03! Total assets. LIABILITIES. Net unpaid claims Reserve as required by law Salaries, rents, expense: taxes, etc . Commissions, brokeraze. et Voluntary 1 th wencles . 3‘,’"" sto rplus over ali Tiablilties Total liabilities ;1. 124,772,408 aracter o fransacted du ing the vear 1938: Accident. health, auto and other liability, auto and other prop- erty damage and collision. fidelity, sure- tv, check forgery. compensation. plate #lass. burglary. theft, steam boiler. ma~ Chinery, sprinkler and water leakage insurance. Losses sustained during the vear 1928 ..... Money _received year 1928 ded 193.698.54 17.538.10 594.211.91 848,112.08 525.000.00 ga00000 500,96/ 24,7 o1 - $8,557,884.38 . 22,199,648.46 v . 20,491,107.47 4 ice nlll" and sworn i :w'u'u'-‘o this BT, B A Miul" .