Downtown

P: The Association of Life Insurance Presidents met last week in Manhattan, listened to the large, round statistics so characteristic of their industry. Speakers said there were 63,000,000 U. S. policy- holders; that policies sold in 1935 will total $14,500,000,000; that insurance companies will pay out $2,600,000,000 in 1935; that the U. S. has nearly $101,000,000,000 of life insurance in force. Noticed also was the trend toward lower life insurance company dividends. Reductions have been announced by New York Life, Prudential, Mutual Life of New York, New England Mutual and Guardian Life. Cause: low rates of interest.

P: Results of moving U. S. automobile shows two months ahead and creating an end-of-the-year motor-buying season were seen in a November output of 295,000 units, not counting Ford production. Only 76,000 cars were produced in November 1934 by members of the Automobile Manufacturers Association.

P: The St. Louis Southwestern ("Cotton Belt") Railway announced that on Jan. 1, 1956, it would default on $584,000 then due as interest on bonds. The" Southern Pacific owns about 87% of the "Cotton Belt," in which it has a $20,000,000 investment.

P: About one U. S. motor car out of ten now has a radio, according to Radio Retailing. Sales of automobile radios in 1935 should reach 1,100,000 units and $53,000,000, leave more than 2,300,000 radio-cars serenading on U. S. highways.

P: Firestone Tire & Rubber Co. made $5,649,000 in the year ending Oct. 31, 1935, compared to $4,154,000 in the previous twelve months. Sales were up 22% to $121,000,000.

P: Last spring Adolph H. Lubin, wrecker, of Springfield, Ill., paid $25,000 for wrecking privileges at Chicago's Century of Progress, went to work on the Hall of Science. Last week, as steel girders of the Travel and Transport Building crashed. Wrecker Lubin figured he had salvaged lumber, wallboard, steel, electrical hardware, plumbing, other items, with a total value of $1,000,000.

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