Indianapolis Times, Indianapolis, Marion County, 2 December 1938 — Page 24

FRIDAY, DEC. 7, 1938

~ LIFE INSURANCE

INU. S. EXCEEDS _ REST OF WORLD'S

Private Initiative Must Be Encouraged, Parley Told By Norman Davis.

Times Special NEW YORK, Dec. 2—The United States far exceeds all other nations in the amount of life insurance protection carried by its citizens, ‘according tox John A. Stevenson, . executive vice president of the Penn Mutual Life Insurance Co, Philadelphia.

He presented the results of a sur-|i

vey of life insurance in force}

throughout the world at the thirtysecond annual convention of the Association of Life Insurance Presidents in session here. Total life insurance in force in the United States at the end of 1936— the latest date for which the world figures have been compiled—represented 64 per cent of the total in all countries, Mr. Stevenson re-

ported. With only 7 per cent of the world’s population, the ‘United States and Canada had $111,839,650,000 of life insurance outstanding in companies of the two countries at the end of 1936, or 68 per cent of the world’s total, he reported. It was also reported at the meeting that the amount of U. S. Gov=ernment bonds held by insurance companies show the smallest increase this year since 1932 and now represent a slight decrease in relation to total assets.

Greater Initiative Sought

This was revealed when T. A. Phillips, St. Paul, Minnesota Mutual Life Insurance Co. president, presented a review of life insurance investments based on the portfolios of 49 companies holding 92 per cent of the assets of all United States legal reserve companies. American democracy faces many grave and governmental difficulties “thrust upon it by the closing of the frontier which has traditionally acted at once as the buffer for unemployment, crime and poverty and as the beckoning door of hope for the dissatisfied and oppressed,” according to Frank N. Julian, Alabama Insurance Commissioner. As a result, Norman H. Davis, American Red Cross chairman, told the convention, private initiative must be led to still greater accomplishments. The gains made in social and health conditions must be cemented by private endeavor, Mr. Davis said. “This is certainly not the time to sit back and depend on the Government,” he declared.

Bond Total Declines

The total of United States borfds held by the companies now amounts to 4 billion, 551 million, which represents a decline to 17.9 per cent of total assets from the peak of 18.1 per cent last year, Mr. Phillips said. “This is doubly gratifying,” he commented. “First, it means that a larger portion of new funds is being invested on a more favorable interest basis, and second, it reflects improvement in the mortgage and corporate bond markets sufficient to permit larger commitments in those categories than in 1937, larger indeed than in any year since 1928.” Mr. Phillips summarized other current aspects of the life insurance investment situation as follows: Progressively smaller decreases each year since 1934 in volume of farm mortgage holdings, with some hope that the downward trend may be nearing its end. Annual increases in the amount of urban mortgages ‘in each of the last two years. Progressively larger increases in aggregate corporate bond holdings each year since 1933. A downward trend in the ratio of real estate holdings and of policy loans to total assets. Rail Holdings Small The effect of the present railroad situation on life insurance companies “although. not to be minimized, has probably been greatly exaggerated,” Mr. Phillips declared. Pointing out that railroad holdings of the companies today account for only 12.1 per cent of total life insurance assets, he continued: “It must be remembered that the percentage of mileize in receivership is not a measure of the losses taken by investors. There is hardly a road in bankruptcy today that is not paying all or a part of the interest on some .of its senior liens, and most of the receivership roads are paying both principal and interest on equipment trust certificates. “Another major consideration is the fact that the present rdilroad difficulties are not a sudden de-

insurance companies follow the practice of writing defaulted bonds down to market prices, losses have been taken gradually as they occurred. Such losses as have occurred Have been minor in relation to total assets and have. been taken in stride. Improvement Foreseen “It should be remembered that each progressive step toward recovery in general business will operate to make the railroad problem less acute, For the benefit of those who feel impelled to take a pessimistic view of the future trend of general business, I think we may. say that any future losses on railroad securities that the life insurance business may find it necessary to take can be absorbed from operations for the years in which they occur.” While the bulk of the world’s life insurance «is concentrated in the North American continent, the people in other sections of the globe are making rapid strides in developing this type of protection, the speaker pointed out. He continued: “At the end of 1926, the total volume of life insurance outstanding in the entire world was 164 billion dollars. This is almost twice as great as the 86 billion dollars in force at the end of 1924, the earliest date for which the world total is available. European countries account for 22 per cent of this total with $36,291,563,000 in force, nearly half of which is represented by the $16,290,297,000 outstanding in the United Kingdom.”

LAWSON NEW HEAD OF GOODYEAR STORE

The appointment of Parvin E. Lawson as manager of the Goodyear Service Store, Delaware at Walnut St., was announced today by J.C. Arnold, Goodyear district manager. Fran Clark, former Goodyear Service Store manager, has been appointed retail stores supervisor in charge of 13 stores in Indiana. C.M. Hensley has been put in charge of 14 other stores in the State, thus holding the same title as Mr. Clark. Mr. Lawson is a native of Indianapolis. He has been associated with Goodyear for 20 years, chiefly in Indiana.

MAJOR PARTS DONE FOR BIG TELESCOPE

PASADENA, Cal, Dec. 2 (U.P). —Major parts for the construction} of the telescope on 6000-feet Mount Palomar, which will be topped off with the 200-inch “eye,” are being handled in 100-ton lots. The first lot of 100 tons has arrived and the final lot will arrive in November. The entire telescope will’ be set up by the end of the year with the exception of the “eye,” which is still being polished.

SHERWIN WILLIAMS

Has a Paint for Eve Purpose. STS Because it Lasts Longer.

velopment but have accumulated over a period of years, and, since

* Kk kk k kk k kk kk kx Kx

Satyrday Only Hollywood

$3.50

3 For $6.01 HELENE CURTIS. Recommended everywhere —Guaranteed—Easy to manage NOW ONLY .....

to styles,

Seriaieeviesssssiiseees

» LL 0433. No Appointm

PERMANENT

SPECIAL! ; For The Kiddies We have operators trained care f dd

The opis Favs is exclusively given at Beaute-Artes. Nowhere in buy a permanent to equal shis value. All Expert Licensed Operators.

:BEAUTE-ART

VONNEGUT'’S

* %* % * kx kx * kx kk *

Sat. Only © To Prove to You That Our Permanent

Sue Bech We Will Give You edit for 3 54s 95 on Our

FAMOUS “MITZI”

PERMANENT

You Only Pay

Complete with

Shampoo Push-up =

or kiddies’ hair Deanna Durbin or ial, inhampoo

$1.00

EE ENN ENN ENE ERNE ES

Expert Operators New St P:

Solutions.

dianap-

ent Necessary. LL S

601—Roosevelt Bldg.—601 - oth

RAILROADERS SAY FAREWELL

Paul Henderson (left) and George Smith said goodby to their pals on the New York Central Railroad today. Both are retiring. Mr. Henderson has worked at the Leota St. Signal Store since 1923. Mr. Smith, a bridge and building carpenter, has been with the company since 1916.

ROMINGER FUNERAL AT 10 A. M. TOMORROW

Mrs. Icy Ella Rominger, former Indianapolis resident and mother of Lieut. Lester E. Jones, City policeman slain six years ago during a holdup, will be buried tomorrow in Crown Hill Cemetery, following funeral services at 10 a. m. at the Bert

. CONDUCTOR PUNCHES LAST TICKETS

Times Photos.

E. N. King, who rode more than two million miles by train between Indianapolis, Cincinnati and Columbus, O., during his 51 years’ service as a conductor on the Pennsylvania Railroad, finished his last run

yesterday. He also is retiring. Mr. engineer, A. J. Lane.

S. Gadd Funeral Home, 2130 Prospect St.

Mrs. Rominger- died yesterday after a long illness in Hope, Ind, her birthplace. She moved from Indianapolis 24 years ago, following her marriage to Mr. Linn Rominger, who died nine years ago. She is survived by two grandsons, Bertram and Elwood, both of Indianapolis, sons of the late Lieut. Jones.

King (ety) shakes hands with his

PET DISLIKES LISTED

EUGENE, Ore., Dec. 2 (U.P) — A survey taken among students of the University of Oregon revealed that “sloppiness” of students is the pet grievance. The coeds objected especially to “dirty cords” and the male students to long, spikey fingernails, run-over heels, crooked stock-

ing seams and poorly applied

make-up.

DRIVING LESSON VIEWED AS NEED OF PEDESTRIANS

Majority, Experts Discover, Don’t Own Cars, Know Little of Operation.

By Science Service

ing practice.

killed each year—and they account for more than 15,000 or more than 40 per cent of the total traffic deaths —do not own automobiles or possess drivers’ licenses. The implication is ' becoming stronger each month that pedestrian deaths have a large hidden factor which involves a complete lack of knowledge of how fast a motorcar can be stopped, the tricky ingenuity needed to guide and control over a ton of throbbing automobile and the limitations that exist in the proper operation of a motor vehicle.

47 of 1231 Registered

Today, at the meeting of the Highway Research Board here, Earl J. Reeder, Chief Traffic Engineer of the National Safety Council, pointed out that in a five-year study of pedestrian deaths in Connecticut it was discovered that out of 1231 persons killed only 47 of the victims were registered automobile drivers. Even granting that automobile drivers are more apt to be in the motorcar than are nondrivers, it still

Retonga at All HAAG STORES, 98¢

WASHINGTON, Dec. 2.—There is a growing suspicion that thousands of lives could be saved annually in the United States if every person were made to learn to drive a car ‘even though he may never be able to afford to buy one, or may never apply this knowledge in actual driv-

Highway and traffic ‘experts are piling up evidence showing clearly _|that the majority of pedestrians

is true that drivers have to do much walking and should, by mere j chance, have a far greater traffic fatality rate than the figures obtained for Connecticut indicate. The conclusion is almost inescapable that automobile drivers, when walking are more cautious than nondrivers. They can better appreciate the problems faced by the man behind the wheel and take fewer pedestrian risks. That is why it might be a good step in modern education to teach all children to drive a car..

Can Dodge Faster ' In the meantime highway experts are banking on educational methods to help solve the problem partially. The aim is to make pedestrians realize they too have a responsibility inthe traffic deaths and that the car driver alone is

not the sole culprit. As the situation has existed in the past the mo[torist has been judged responsible but this, Mr. Reeder points out, is akin to ‘saying that a railroad engineer should be responsible for deaths at grade crossings because he drives a more powerful vehicle.

PAGE 23

easily than a railroad train and can maneuver to dvoid accidents. The same situation should be applied to pedestrians also, who likewise can stop more easily and dodge faster to circumvent accidents. The only hitch in this reasoning is the long established factor that people have come to regard walking as a sort of inalienable right. And so it probably is. It is certainly a&

primary mode of travel for which Wl

there is no substitute in some cases. And - because it is -an individual action it is not subject to licensing, Hence, there has grown up a feeling that pedestrians should ‘be able to go almost anywhere without restrice on. If this feeling persists, then it is only by teaching pedestrians the limitations of motor vehicle control that the tragic 15,000 pedestrian deaths each year can be decreased in number, traffic experts say.

A Complete Optical Service

Dr. Jos. E. Kernel, Opt.

automobile can be stopped more

Traction me slag, 1600.

Rather we rightly say that the 104’ N. Hlinois

IL LIL RE 18 HTL)

No MORE grey or dingy white cottons and linens when Clorox is used in the regular laundering process. Clorox makes them snowywhite, fresh-smelling and sanitary. Clorox also brightens and disinfects color-fast cottons and linens. ; it contains no lime or acids... is gentle on a. Clorox has many important personal and other

uses. Simply follow directions on the label. Z Copr. 1988, Clorox Chemical Co. fA)

AMERICA’S FAVORITE BLEACH AND HOUSEHOLD DISINFECTANT

bs LD 4 OX TER ERNE

a NUMEROUS STAINS. PURE-SAFE-DEPENDABLE

RAL Rel: LUCE) CL

Coupe and Trailer

Play at touring the country and living outdoors ...

mE aerramONAL of CRAZE ARE

SKILL

STAX GAME

VALUE—SPECIAL

Chinker-Check

(Chinese Checkers). Regular 50C SOMO «.cvciivressrianss

Kitchen Cabinet

With toy “grocery” packages and all the cooking ute: shown in Pisture sxe ssengs nae

89¢

“8%

Hook and Ladder

Ladder rises automatically when truck strikes wall ....

Designed just like a real baby’s high chair.

10¢c

[ORWRTY ETT

AX TRENT RE) RL NC XY RS RSATOT CS en

-89¢

SATURDAY a the Colonial—in

Toy Fire Engine

“Here She Comes!”

>» €2 «>» 2

iB Po RPT SF

(J RN EPH 5 CE (STE pad) “>

Clear «89 traffic! Everybody Run! .....

Nursing DOLL DRINKS -

With 3-Drawer Case & Complete Layette

o Blanket o Nightgown

o Shoes

-Full Line oF =

BUY ALL YOUR TOYS ON CREDIT-PAY NO CARRYING CHARGE AT THE COLONIAL

N-WETS

1”

MERIDIAN AT MARYLAND

Buddy-L Dump Truck

Simplifies your ‘heavy haule ing” problem nicely «...cce00

MOVING PICTURE PROJECTORS

Prices Start at

98c

TREE LIGHTS

In Series of Eight

THE BUSY BRIDGE

Measures, 24” long, 3%" wide, 3%" high. A “steady, stream of Trolley Cars and Autos run back and forth across the Bridge, in and out of the Terminal Buildings at each end. Has long running clockspring motor, equipped with brake.

ORPHAN ANNIE STOVE

8% in. high. Has 3 ovens with drop pane] doors. 6 we- JQ : sils included