Iowa Insurance

ING Groep NV, the giant Dutch Finance, is a cornerstone of carving American life insurance market at a high price, $ 2.2 billion, but it is also ready to spend billions more to satisfy their ambitions on the markets U.S. capital.

ING said yesterday that it had agreed to buy Equitable of Iowa businesses for $ 2.2 billion in cash and stocks, but also assume that $ 400 million in bonds, effectively doubling the size of the U.S. administration life insurance business for more $ 20 billion.

In addition to insurance, ING is concerned about the extension of the U.S. Department of investment banking and asset management companies, Cees Maas, the company Chief Financial Officer, said in an interview yesterday. It already has major banks and asset management and insurance companies, produces each year revenue of over $ 28 billion.

The Dutch company has recently shown interest in acquiring two American investment banks: Dillon, Read & Company in New York, Swiss Bank Corporation to purchase agreed in May to $ 600 million in camps and Montgomery Securities of San Francisco, the nation Bank has recently purchased for $ 1.2 billion.

Mr. Maas was to submit comments on these two is it, but ING confirms the desire to take forward work in these two areas Investment Banking and Asset Management.

”What we still lack,”he said ,”” distribution in the investment banking products to the USA. While ING own affairs in this country, he spoke melancholy on finding the right acquisition.

”We are ready to pay a high price, when it suits them well,”he said, the group discuss the general approach to acquisitions.

There have been disappointments, as ING has sought to expand their American life insurance business through acquisitions. He continues First Colony Corporation, which was eventually acquired in August 1996 by GE Capital, before focusing on business Equitable of Iowa. Equitable of Iowa sells a wide range of old-age part-time savings products, and is particularly strong in pensions.

The store was announced yesterday, in the absence of surprise for analysts. ”It was a head of shopping list that we have, what they want to buy.”Says Robert W. Yates, head of the international part of the London subsidiary of Fox-Pitt Kelton, a brokerage firm.

ING pays $ 68 a share to buy Equitable of Iowa, in terms of the transaction, which was approved by both companies’ Boards. It is financing the acquisition with a mixture of shares and cash, as shareholders. The cash - but only up to 50 percent of the price to pay. The acquisition, which must also be approved by shareholders and regulatory authorities, it is expected by the end of the year.

The price, about 2.7 times book value, is high for a purchase in the life insurance business, said analysts. But Equitable - which is in no report on the Equitable companies, the giants of New York insurers - still profitable and has a better return than many of his fellow age.

Investors reacted positively to the purchase yesterday, sending shares of Equitable of Iowa for $ 8.50 or 14.8 per cent to nearly $ 65875 at the New York Stock Exchange. ING’s American Depository Receipts, also rose on the Big Board, gaining $ 3.25 or 6.7 percent to nearly $ 51.50, a full 52 weeks. Each ADR represents one share of the Dutch society.

Mr. Yates said the market reacted positively because the benefits to ING per share result war”ein and because it is good business and good society.”He said that the investor is not regard the transaction as a narcotic or seemingly believes that ING has too.

S. Fred Hubbell, Chairman and Chief Executive of the Equitable of Iowa, said he decided the sale of Des Moines, families, businesses controlled week after talks with ING best leaders,”it became clear that I do, that his activity was a perfect complement for us, the USA.”

Elle”peut be that we have a quantity of financial resources that enable us to develop much faster,”he added. ”We have here a situation where 2 and 2 are really be 5.

The financial difficulties Hawkeye Bancorporation, once one of the biggest agricultural countries lenders, was approved by the Federal Reserve Board precarious with the practices of banks, because the holding company refused to save one of its banks’ collapse.

The financial difficulties Hawkeye Bancorporation, once one of the biggest agricultural countries lenders, was approved by the Federal Reserve Board precarious with the practices of banks, because the holding company refused to save one of its banks’ collapse.

State Banking officials closed the State Bank tiny Allison Thursday after Hawkeye Fed ignores the obligation to pressure of at least $ 1.35 million in additional capital for the bank afloat. The USA is the central bank appear in a Hawkeye on March 31 administrative consulting fees.

Hawkeye’s President, Paul D. Dunlap, lies the charge of attempt to undermine Hawkeye’s agreement to restructure $ 100 million in debt. The Fed is trying to establish a policy to prohibit the debt burden on holding companies to pay creditors, while member banks maroden to failure - failure, which cost money the government.

The Fed said it try to force Hawkeye additional injection of $ 1.35 million in capital in the bank, Hawkeye in dispute had enough resources available for the payment of creditors and hold the Bank Allison.

Mr. Dunlap said that he had tarnished problem was, however, if the Federal Deposit Insurance Corporation, the Bank has sold the Lincoln Allison Savings Bank of Reinbeck. The Bank Allison $ 17.4 million in assets last week, as a branch of the Bank Reinbeck.

Rarely, the representative of the house for more space for a loan. Capitol Hill has become a nervous, unhappy in recent weeks, and run the root causes of the controversy surrounding grueling crime, the long duration of the August break or the immensity of the health system challenge.

Many lawmakers said it was simply one of the most famous meetings of the recall supporters. Yes, there are moments of the bipartie cooperation, such as hunting the “coalition” mainstream “for a compromise health in the Senate or moderate Republicans, efforts within the House on conditions ‘a crime.

The passage of crime bill could not occur without the votes of 46 Republicans and President Clinton touted bipartie of cooperation as a model for the future. But the legislature to forge a compromise, said today that cooperation in the field of crime stand out, in large measure because of its rarity.

More characteristic is prudence bipartie, a hint of bad faith, even the reluctance open. Newt Gingrich, representative of Georgia, the Republican whip in the house, inveighed in an interview last week on “left-wing ideologues” the White House to work with a bunch of machine politicians’ attempts to Congress “for rest of the country. ”

Representative Mike Synar, a Democrat, Oklahoma near the democratic management, argues that Republican strategists on wrecking care unless the legitimacy of the institution. “They have not been able to return around the house through the ballot box, so you come to the conclusion we need to destroy the institution, on the theory that the ash, she chooses more as Democrats Republicans, “says Synar.

The house is usually more supporters, the Senate, but the fight for health care in recent times have bitter Republicans Filibuster a disguised during the first two weeks of debate.

On several occasions, Senator Phil Gramm, Republican of Texas, raised the democratic management, promoting nothing less than the government of a dangerous resumption of the health system. “The American people want to kill this law,” said grams of last week. “He takes his freedom.”

Senator George J. Mitchell of Maine, the biggest head, back on the floor of the Senate. “Given that these Republican senators stand up and say you, Mr. and Mrs. America, health insurance that the government is bad for you, ask yourself: ‘When it so serious to me is why both for them and their families? ”

And Senator Charles E. Grassley, Iowa Republican, suggested that Democrats were supporters of an implementation of their own seat. Not only politics as usual

This is more than just politics as usual. Two-one-one and a half months before half-time elections, Republicans sense a wide variety of care for seats in Congress, especially in the home, while Democrats see significant risk . The poles of each party, in other words, are seen as immense on issues such as crime and health care, opinion with researchers and policy advisers to analyze all the votes are important for its impact on the November elections.

The addition of these volatile mix is a Democratic president, try to improve its performance with the public on these important issues, and thus an attractive target for his enemies on Capitol Hill. The atmosphere is more politicized by the debate, hard, pushed by Republicans, the White Water case.

Another element in the mix is the fact that some of the most prominent Republicans in the Senate - including Mr. grams and Senator Bob Dole of Kansas, the Republican leader - are of the opinion that their own ambitions for the White House.

Many Democrats brodelte, when representatives of Texas, Dick Armey, the Republican head of the conference, she said during a recent debate on crimes bill, “Your president is not so important for us.”

There are deeper trends behind the party of the house, within just 40 years, democratic control.

Roger T. Servison, marketing, helped Fidelity Investments to build a giant investment fund, leaving the presidency of the Monarch Capital Corporation, which sells insurance and pensions.

Roger T. Servison, marketing, helped Fidelity Investments to build a giant investment fund, leaving the presidency of the Monarch Capital Corporation, which sells insurance and pensions.

”I was not to leave search Fidelity,’’said yesterday Mr. Servison. ”But the chance, the operating results of the head of a financial service companies, an opportunity to show my own, like me.”

Mr. Servison, 45, took the post of president of Gordon N. Oakes Jr., 49, will remain Chairman and Chief Executive, the monarch, whose headquarters is in Springfield, Mass. Mr. Servison was Senior Vice President and Managing Director of Fidelity, which is headquartered in Boston.

Monarch is a large market for the development of its products, variable life insurance, pensions and disability income. ”All expenses of fixing is over 80 years, said Herr”Servison,”and baby boomers are increasingly concerned about where they receive money to educate their children, where they receive the money to their parents and health and the needs for retirement.”

Mr. Servison”genannt these powerful demographic trends, financial services markets on the 90’s.”

As a graduate of the University of Iowa and the Harvard Business School, Mr. Servison Fidelity occurred 14 years ago”, if it is a very small company and just start no-load-fund,”he said.

In the case of Fidelity, Mr. Servison develops and markets Fidelity’s no-load Fund, and was Vice President of Marketing for all Fidelity funds on reciprocity. In this position, he conducted one of the greatest directors of marketing programs in the financial industry, “said Oakes.

Mr. Servison also contributed to the investment of Fidelity Life Insurance Company, which sells the same type of life and variable annuities as a monarch.

Mr. Oakes, “said Servison constitutional had paved the way,’’some of the most revolutionary and most successful financial products and innovations in distributions systems Amerika”bei Fidelity, which is now the largest manager of investment funds in the country .

”We expect great things for Roger,’’said Oakes. ”We expect him to lead the development of products and our distribution strategy. We are in a unique position to discover the benefits of this demographic.”

If Mr. Servison businesss was in school, he says, a company he was admired H & R Block. When he graduated and he has a roommate, Robert Murray, founded a similar service tax on income, taxes man Inc. The company is a hotel tax in New England, run by Mr. Murray. Mr. Servison left in the year 1974 for accession to the Continental Investment Corporation, a financial services company, and Fidelity occurred during the year 1976.

For the second time in 10 days, the House of Representatives by an overwhelming majority legislation today that it had changed greatly the nation’s 60-year-old banking laws.

The vote this evening, a defeat for the White House and Democratic House seemed likely to force President Bush and the Congress of the Bank aimed at limiting the legislation this year on an action would be something more than the shore almost exhausted Deposit Insurance Fund, in the tens of billions of dollars in loans taxpayers.

The General Accounting Office predicted yesterday that the health insurance fund would be money within six weeks. The Fund, which has rapidly gone in the wake of more losses of the bank since the Great Depression, is now behind more than $ 2 trillion in deposits. Senate also at the workplace

The Senate now move late in the evening with its own version of the banking legislation, but had not made decisive vote.

The House defeated by a vote of 227 to 191, moments agreed by the representative closely to determine, with the support of President Bush, who accepted the nation stronger banks to extend lines of State, but could continue to restrict the industry to enter the insurance and real estate company.

It illustrates once again the enormous power on Capitol Hill by real estate, insurance, banking and securities sectors. They were fighting and form alliances alternatives for the month of legislation and separately in the role model have enough votes to practice a kind of authority right of veto over any measure, moves on the ground.

The Indians lobbying seems to overshadow the fact that virtually no questions directly to the overwhelming majority of voters, but they bear directly on the future of banks, insurance companies and Wall-Street-investment.

“One of the lessons to be learned from this,” said Representative Jim Leach, Republican of Iowa, voted for the bill, “is that it is quite difficult, a bank account, if banks fuels taken. ”

Furthermore, reflects the fear of many donors law on adoption is what is widely perceived to be a big taxpayer bailout for banks.

In the hours until the final this evening, White House and Treasury officials, including Treasury Secretary Nicholas F. Brady, lobbyists, legislators hard for the bill so that the stronger nation of state banks to develop lines, but in the insurance industry and real estate business.

And President Bush has thrown his weight behind the legislation as a whole, even if it did not contain any of his proposals in February, banks, the Authority for the capture of securities and insurance companies and owned industrial.

The White House is reflected felt that this was the best that could be out of the house by an overwhelming majority, a bill of more than 4 November. Officials of the administration had said there would be too many restrictions for banks.

The assumption Interstate Banking provision of the White House today by a margin of two to vote, 210 to 208 It was supported by 99 Democrats and Republicans against 111 and 160 Democrats, 47 Republicans and 1 independent. The vote has been stalled until the last second, J. Dennis Hastert, Republican of Illinois, joined his ballot papers from non yes.

In the final vote on the bill, 77 Republicans and Democrats, 114 were set for the action, and 181 Democrats, 45 Republicans and 1 independent against.

The chairman of the House Banking Committee, Representative Henry B. Gonzalez of Texas, said the commission would begin drafting legislation next week to provide money for the Insurance Fund, the bank would not Intergovernmental on banks, real estate or insurance.

The defeat today is the product of a coalition of conservative Democrats, argued that the bill does not go far enough for banks, with Liberal Democrats, said he had gone too far and do not benefit from consumers’ bank.

In the House of Representatives Democrats handily abperlen a White House trying to kill the comprehensive banking legislation, setting the stage for a final vote on the package as early as Monday.

In a vote was almost straight party lines at the bottom, a first since the package was Wednesday at the Assembly a proposal defeated 243 to 158, the measure would have been killed, with two Democrats, Representative Doug Barnard of Georgia and representatives of Thomas R. Carper Delaware, Concertation with the Republicans, the only two parties to cross.

Despite a final vote on the law should be less biased and much closer to the current action a few legislators’ hopes that the congress beyond, would refinance the health insurance protects deposits banking and the adoption of a comprehensive package of legislation.

In the Senate, members were told today that the broad guidelines of the Bank closely revision Action adopted by the Senate Banking Committee in August that could reach the floor as early as Wednesday.

The Federal Deposit Insurance Corpporation bank insurance fund with a value of less than $ 3 billion and is the lowest level since its creation in the territory of the Great Depression, money early next year . The prospect has been the driving force behind Congress. Even if a complete failure, the congress would probably be much closer to action by the health insurance shoring.

A central provision in the legislation, the loan fund’s cash authority $ 30 billion to $ 5 billion and billions more in Working Capital to support the banks have failed. The management officials say that taxpayers would be loans are repaid by an increase in insurance premiums paid by banks, that the working capital loan would be repaid by the sale of assets seized institutions.

The legislation within the House imposes more restrictions on banks in the development of the insurance companies and securities industry as President Bush has sought, and as a result, the White House has threatened to oppose its veto, unless it is changed dramatically.

As the Assembly bill, the Senate rejects the administrative action at the request of industrial enterprises allow its own banks. The House of Representatives and the Senate far more imposing restrictions on the ability of banks to expand in the insurance business as chairman of the plan.

On the issue of affiliations between commercial banks and investment banks, all proposals to abolish the Glass-Steagall Act of 1933, membership of such a limit, but significantly different.

These two measures, and the proposed hotel would be the decades, many old barriers that have limited the ability of banks to expand in other countries.

Big banks say that although the house measure allows companies Investment Banking and Commercial Banking companies merge, the walls between them would still be high enough for him impossible for banks to compete in the securities markets.

The architects of the proposal, representatives of John D. Dingell of Michigan, Chairman of the Energy and Commerce Committee and representatives of Henry B. Gonzalez of Texas, chairman of the Banking Committee, say the laws would be sufficient, banks grant new powers and sufficient safeguards to protect depositors and taxpayers.

In other votes today, the following measures would be taken by the Assembly:

A change in the sample representative Jim Leach, Republican of Iowa, that the increase in capital requirements for banks-enterprises, or open banks to acquire new banks in different countries was amended by voice vote.

A representative sample of the proposed Barney Frank, Democrat of Massachusetts, cancellation of a cap, which prevents the service limit the growth of banks by more than 7 percent per year, was defeated 290 to 104

An action by representatives of Joseph P. 2d Kennedy, Democrat of Massachusetts, to restrict the development of banks, if they have breached their low income, loans to customers and shares of other shareholders was defeated 241 to 152.

Fred Schwengel, eight Republican members of Congress from Iowa and the founder of the United States Capitol Historical Society, died Thursday. He was 86

He died in heart failure at a hospital in Arlington, Arlington, Va., where he lived.

Mr. Schwengel was first elected to the Iowa house in 1954 for the first arrondissement, Davenport, Iowa City, and arable land in the south-east. It was swept in 1964 in the landslide Lyndon B. Johnson, but dismissed two years later and served until his second defeat in 1972.

He served in the House Public Works Committee, support the legislation, the system of Interstate Highways. He supported the Civil Rights Act of 1964 and Home Rule for the District of Columbia. In 1971, he led objections against a proposal to amend the Constitution to allow organized prayer in public schools.

“I think we would lower the quality of prayer, when we write the state,” he said, the day the measure was defeated. Interest in Capitol

His passion was, however, history, including the story of Abraham Lincoln and USA Capitol. He wrote that the legislation has led to the poet Carl Sandburg address to Congress in 1959 on the 150 anniversary of the birth of Lincoln, and he served as vice-chairman of the Civil War Centennial Commission.

A native of Franklin County, Iowa, Frederick Delbert Schwengel graduate of the North East Missouri Teachers College in 1930 and attended graduate school at the University of Iowa.

Before joining Congress, he worked as a professor of history and on the other hand, a system of insurance executive. From 1945 to 1955, he served in the Iowa House of Representatives.

Encouraged by Speaker Sam Rayburn, Mr Schwengel Capitol Historical Society founded in 1962. He served as chairman for the next 30 years and will continue to preside. Through its fundraising, the company provided on the Capitol, more than $ 1 million worth of art, artifacts and historical documents.

Mr. Schwengel, as a member of Congress has announced that more than 800 push-ups a day, welcomes tours by the Capitol long after his retirement.

Survivors his wife of 61 years, Ethel, a son, Franklin Dean Schwengel Santa Monica, California, a daughter, Dorothy Jean Cosby Alexandria, Va., brother, sister, five grandchildren and great-grandchildren one.

Despite strong pressure from the Bush administration and industry, regulatory bodies Federal today at the increase in premiums that banks and savings clubs to pay their insolvent insurance funds disease and the fundamental changes in how these premiums are assessed.

The 3-2 decision by the Federal Deposit Insurance Corporation, an average premium of 22 percent from January. And for the first time since 1934 that the first funds under the bank cancels depression, weak institutions, to pay greater increase as the strongest.

In order to promote prudent management practices of banks, Congress, during the past year has given the regulatory authorities before the end of 1994, about 58 years with all banks pay the same price. Impact on consumers

The increase that the administration had hoped until the last minute to block, would be a great economic impact, so that the bank more expensive for the client, there would have to pay more and to get lower yields and loans from deposits.

It would also be detrimental to shareholders of about 14500 banks and associations of savings, reduction of branch result after tax of over 4 percent. Some of the premium are also costs to taxpayers, because the institutions have the right to write a certain percentage of their premiums from their corporate tax.

Supporters of the increase say it is for the protection of confidence in the economy by strengthening the health insurance fund, which is deeply in the red and the lowest level since its inception during the depression . More big losses expected

William Taylor, president of the Insurance Corporation, said that the bank insurance fund lost about $ 11 billion last year and a deficit of over $ 7 billion it took loan the body of State, and it even more each year of losses that may be sent in the next two years. The proposed changes would have an additional $ 1.25 billion per year.

The increase averaged 28 cents for every $ 100 of deposits to 23 cents today, is expected to authorize, after a period of 60 days for comments. The smaller banks with less capital and most of the problems would pay an additional loan of 3 cents for every $ 100 of deposits, and most would pay 3 cents less.

The regulators said that the new system based on risk may take longer to create, but that any delay would not move the amount of the premium.

The Bank Insurance Fund amounted to $ 18.3 billion six years ago, was struck by failures over 885 banks to the tune of over $ 26 billion. While estimates have almost tripled, from 8.3 cents per $ 100 only three years on the latest 23 Cent, they are not in tune with the devastation of the industry.

The disparity of votes increase the premium was paid by the department of treasury representative on the board: Timothy P. Ryan, Jr., director of the Office of Thrift Supervision, and Stephen R. stone Brink, Comptroller of the single currency.

Mr. Brink stone, said in an interview he had after an increase of 4 cents, but that the Governing Council authorization of 5 cents, in another $ 250 million, was not justified. ”

After the panel to be in the direction of a movement of 4 cents increase, Mr. Taylor said he would not be enough, and two other members, CC Hope Jr. and Andrew C. Hove Jr., it occurred to support the raise 5 cents.

Mr. Taylor’s elected until February and increase the amount of the premium, a major regulatory decisions this year, had directly between the Congress and the Treasury. Today’s decision, it was clear, despite industry and the Bush administration, Mr. Taylor, there is less than a year. Tough political struggle

Mr. Taylor said that the increase in personnel has been the most difficult political struggle, he fought, said that in recent months, the industry had shown some signs of improvement, mainly due to low rates ‘interest, but it was too early to conclude that the troubled banks had developed problems with their mortgages.

“I prefer to be here for a lower premium,” he said at today’s meeting, mother packed. “But when we overestimate the problem and take too much money, would be the first time in a long period. The indications to us is overwhelming, and it is for us to do what’s right and increase the premium.

Companies Equitable of Iowa said she would do its Younkers department store chain based in Des Moines, the sale of redeployment of capital to ensure the retail trade. Younkers in possession of Equitable since 1979, operates 36 branches in five countries Midwest 1988 with a turnover of $ 313 million.

Companies Equitable of Iowa said that his department would Younkers-Shop chain has its headquarters in Des Moines, the sale of redeployment of capital to ensure the retail trade. Younkers in possession of Equitable since 1979, operates 36 branches in five countries Midwest 1988 with a turnover of $ 313 million.

Fred Hubbell, fair Chief Executive Officer, said both companies had great potential for growth, but that both require more funds available to continue to develop. Juste, he said, promising sees great future in life insurance”and we have more experience and know-how in the insurance sector.

On television screens across the Nation’s Capital this week, the images were almost inevitable. A man complains of the State bureaucracy. A mother is concerned that the increase in insurance premiums could deny their sick daughter treatment. An employer frets about how health care actions could cost him his small business.

Given that the Senate Republicans passed over a series of victories over Democrats managed care legislation this week, such a plethora of ads, sponsored by the Business Roundtable, provided that the punishment of air support for Republican offensive.

The television air war, both nationally and here inside the Beltway, was one of several dollars struggle between several powerful interest groups, with the insurance sector against private employers and organized the Labour and the American Medical Association.

Until now, insurers are spending unilaterally win a battle against the Democratic bill and have pledged nearly $ 20 million this year to fight - for advertising, interviewing and polishing the image - compared approximately $ 750000 for the work of physician coalition.

Supporters of Democrat Bill say that the advertising industry, unlike that the bill would strip 1.8 million Americans health insurance, wrongly, Congressional Budget Office estimates, an affirmation of the industry aid undeniable.

The social insurance funds and employers are subject der”Harry borrowing and Louise”Werbekampagne has condemned the failure of the proposal from the presidency of Bill Clinton in 1994 for universal health care coverage, crusading Television and newspaper advertisements against the cost of a Democratic bill, they say that premiums are increasing steadily the ranks of unversichert.

A coalition of companies managed care plans, more than 5 million dollars this year to an advertising campaign and multitiered base campaign. One of advertisements in Washington has a HardHat criticize politicians for workers, increased its premiums of health care. Another 30-second spot in Washington, said the Democratic bill is a test for lawyers-sop eager to bring Managed Care.

A third ad, running in Iowa and New Hampshire, wants to convince President campaigns of candidates, that regulation of managed care companies in the world, well below the fixing Medicare and addressing patients not policyholders in industry surveys in order.

”These ads are part of a broader political strategy,’’said Mark Merritt, strategic planning for the American Association of Health Plans, more than 1000 managed care groups. ”The presidential campaign is legislation in Congress this year. We wanted to Iowa and New Hampshire first effects of this debate.”

Another coalition of employers and insurance companies are a blend of two, $ 1 million television, radio and newspaper ad campaign criticizes the fact that the Democratic bill for raising premiums and swelling the ranks of unversichert.

”We are opposed to the ability to sue an employer for the provision of health insurance,’’said Johanna Schneider, a spokesman for the Business Roundtable, an association of executives and leaders of greatest nation the head of the company.

The roundtable broadcast advertising in Michigan, Ohio, Minnesota, Texas and Washington State, whose Republican senators are regarded as Swing-vote in question.

Besides these frontal attacks against the Democratic bill, the health of the industry roll-out of six months, $ 10.5 million television and print advertising campaign, with five doctors, in an effort to buff the image of Managed Care.

”It is quite difficult at this moment,”acknowledged Roger Bolton, Senior Vice President of Aetna, including the head of a coalition of sickness funds, to explain why industry recruited six doctors say something nice about Managed Care.

Supporters of the bill Democratic counterattacking, but their advertising campaigns pale in comparison. Labour, for example, is worth $ 400000 advertising in favor of the bill in the air, especially in the countries of the Republicans, some of whom until the new election during the next year. The American Medical Association, over expenditure of $ 300000 for newspapers and radio advertising. Aetna alone spent about $ 200000 this week on two pages of two ads in the “Washington Post”.