Evening star., 1924-01-23
LOCAL UTILITIES
FEATURE TRADING
washington Gas Light Active
on Exchange-Reserve
Boards Report.

Local utility stock issues were de-
cldediy firm in today's session on the
Washington Stock Exchange and fea-
tured trading.
Washington Gas Light stock which
has been fioundering around as, and
fractionally higher, for several weeks
advanced to 49a4 on sales Of nine
teen shares. while Capital Traction
continued its upward climb, eleven
shares selling at 96ai Hallway rrc-
| ferred was strong at 15L fifteen
shares changing hands, with the com
mon issue Of the company firm at
7012, one sale of fifty shares being
recorded at this figure
Bond trading also was confined
strictly to the utilities. Potomac
Electric debenture 6s brought e97s
and Gas SIS We're unchanged at 9314
Capital Traction 5s brought Sc.
Reserve Bank Profits.
The Richmond Federal Reserve Bank
earned net profit last year of ST.
os2;s42 after reserves, depreciation
ing 70 the preliminary report issued
by Gov. George J. Seay This com
pares With net profit of Ss67.447 IN
I9Z2 Cross earnings were S2,S78.S96,
The volume Of paper handled during
1873 was more than double that Of the
preceding year, total bills discounted
and purchased having been S2921.-
330,152, against s1.433.o27. .154 in 1922
The average amount of paper handled
per day was s9,705,416. against s4,-
i45, l23; the numD Der of member banks
accommodated during the year totaled
453, against 491, and tho number OF
member banks in the fifth district
at the end OF the year 63I, against
6Si.
New CIearings Record.
Clearings operations in lae3 estan-
liShed a new high record Uith SIC
] 11.s2$.5en for "Gl business days. In
1922 sS.162,S1S.5i7 was cleared on 3o2
business days. and in the previous
year $s.620.SSS.f3n passed through
the bank during 303 business days.
The current expenses of the bank
in 1929 were materially less than In
the previous year. which. in turn,
were much less than in 1927. despite
ness from year to year. Total up-
Grating expenses last year were
s1,548.115: in 1922 they were 1851
355. aud in 1921. s2.127,174.
Profit and Loss Report.
The profit and loss account for
1928 Is as follows:
Earnings and expenses:
Discount bills discounted 81 ,eSI .;Sq. al
Discount ON bills purchased ...... g.. 7a4. =;
Interest on United States securities 9,541.1o
Other earnings. NEUTRALITY-SUSPICIOUS.. "a gBg 30
Total gross earnings. ........... SO. SIS. .s.~i.2f
Less current expeuses............ 1.5J1 ,l5J.5S
Net earnings. .........,.... .s1,327, 74o.s s6
Less reserves, depreciation and
miscellaneous charges. ..-..... 81. .S91 PC
Net profit for the year. 81 ,nao, $40 20
Dividends paid d-..............-... 81. ..
Balance tprofitsl December 81. $3.50, ,54I.4S
hisp"sifinn Of profit:
Transferred 10 surplus account:
I" make surplus equal subscribed
capital stock. Observation-Disclosures. $S4&.1c =,
1876 of remainder of prohs..-... ", rs" -
Paid TO United States treasurer
franchise ta&:
900 of remainder of prohts..... :GS. 14S IS
Totals Observation-Disclosures. s75o.547.4s
Graphoph0nc's Latest Move.
More than 93 per cent of the Sc
000.00o Columbia Graphophore Man
ufacturing CompauyS per cent
notes. du" August /. 1?25, have been
deposited with the reorganization
committee The committee has set
January 2S-as a final date on which
deposits will he received After that
date notes will be received only upun
cash payment of one-half of
per cent Of principal amount of notes
rendered. Depositors of notes on