Evening star., 1923-01-24
$11,2A,1% MADE
BY WESTERN UNION
Net Income Equal to SLIPS
Per Share-Trust Company
Officers to Confer.

the Western Union Telegraph Com
pany showed a net income of SILL
234.l26. after charges and taxes. equal
TO sl1.25 a share on the $9s.7S6.727
capital stock. compared with $685.
sos, or 1856 share, In 1921. and
s13.33 in 1920.
The report shows the company's
inherent earning power and ability
TO reflect any Improvement in gen.
cral business throughout the coun-
try. Earnings over the last three
wears indicate that the company has
little reaction to depressions. The
telegraph has become an integral
IN various lines of industry where
it was formerly little used 1t has fs-
come necessity.
In 1922 the company did gross bust
ness Of s107. 7.031.oOo. as compared with
h73,6So In 1920. The 1922 business was
accomplished with s74.lS5,446 charged
IN taxes and expenses against sio,33l,Z9f
The previous year. Thus, while gross
business was sl.so3,535 greater. ex-
without reduction in wages.
The 1922 report includes two new de-
ductions-employes' income participa-
lion and charge Of $4,000, 900 for cable
Preston Vice President.
AT special meeting OF the board of
directors of the Washington Gas Light
Company yesterday Ord Preston was
elected vice president of the company.
Mr.. Preston has for many years
been a resident of Washington. and
since 1910 a member of the board OF
directors of the gas company. repre-
senting not only his own interests,
but those of the Pacificus Ord estate.
lie is also a director of the Union
Trust Company of this city. the Sc
curity, Storage and Safe Deposit Com
pany of Norfolk. Va, and OF the Sc
curity Storage Company OF Richmond.
Va.
Owing to the illness OF Howard S.
Reside. who has been ordered away
from the city by his physician. Mr..
Preston will be the acting president
for the time being.
Thomson to Lecture.
Eliot II. Thomson of the Washing
ton Loan and Trust Company will lee
ture and hold quiz on Carriers and
Bills of Lading." before members Of
ton Chapter. American Institute of
Banking, tomorrow night.
The beginning Of the series Of talks
on Negotiable Instruments" by
faymond B.: Dickey. which was re-
row night. will not begin until Thurs
day night, February I.
Merger Testimony Suspended.
Testimony before the Interstate
Commerce Commission on possible
mergers Of western railroad systems
which may result from the plan of
consultations was suspended tempo
rarily yesterday. but will be renewed
on dates and at places which the
commission will announce later.
Hale Holden, president Of the Chi
ago. Burlington and Quincy, and J.
=. German. president OF the Chicago.
Rock Island and Pacific, were among
the witnesses heard at the final ses-
sion.
New Vault Nearly Completed.
The new safe deposit vault of the
Potomac Savings Bank, which has
been under construction for the past
year, will be completed and ready for
have assured the officials of the bank
The vault. which is said to be one
OF the most handsome and strongest
in the city, is sixteen feet square on
provision being made for an addi-
tional $500. if needed. The walls Of
the vault are three feet thick. with
$4,000 pounds of interlockIng
II" steel reinforcements. In all. the
vault is inclosed by four steel walls.
presenting the most modern devices
used in comatins fire. theft, etc. 1t
is located on the ground floor tf the
institution at the north end.
Trust Companies to Meet.
Officers of the Washington trust
companies are planning to attend the
fourth midWinter conference of trust
companies, to be held under the aus
ri ces of the trust company division
of the American Bankers Association
at the Waldorf-Astoria, New York,
February Is.
The purpose Of the conference Is
stated to be to afford an opportunity
20 consider several definite phases of
trust company business. to secure and
give help to problems more or less
common to all corporate fiduciaries
and to make the personal acquaint-
ance of officers and department heads
actually directing or operating vari-
Gus trust company activities.
Rumpus Howling Success.
So great was the demand for copies
of the Saturday Night Rumpus,
the snappy magazine edited by Thorn
AS w. Brahany and his corps Of as
sistants for the joint dinner of the
members that offers of SIS a copy were
freely being made in the financial dis
trict today.
Extra copies had all been gobbled
up in a hurried fashion after those
unable to attend the banquet had
heard of their contents, and Eugene
Thompson Immediately telephoned
Frank Hight. manager of the Willard,
TO please ask cleaners to save any
"derelicts" that might be found in
the sweepings.