Evening star., 1924-12-01
BUREAU LAUNCHES
EDUCATIONAL DRIVE
Aim Is to Protect Investors
Here-LocaI Trading.
Phone Report.
BY CHAs. p. SHAEFFEV

| th0 CITY are directly cooperating IL
the movement, which includes a
monthly caution to over one hundred
| thousand possible investors. The plan
| Is the result of long period of study
and consideration by Howard NJ
! Cool, director of the bureau, and ar
educational committee composed OF
! Joshua Evans. jr., of the Riggs Ma
! tlonal Bank; w. W. Spaid Of Hibbs
J d Co, II. L. Rust of II L Ppst &
| Co. and Wilmer j. Waller of the
| Feoeral-American National Bank
! IN announcing its program, the bu-
| Leau states that more than a million
| dollars have been lost in Washington
curing a period of year in invest
ments which would not have been
naoe II thorough investigation had
| nrst been made.
Merchants newspapers, banks, in
Eestment houses. realtors, Government
! departments and public utilities are
al cooperating in the movement
"hlch is purely educational and
"hlch Is intended to make by re-
itef atlon the average Washingtonian
eaollous When solicited by mail CT
| otnerWlse by questionable promoters
| In announcing the details. Mr.. Cool
states that, while there are no biz
general or spectacular stock promo
tions now soliciting the local public.
tnere Is large amount of question
anIe promotion through small mail
operations ard by individual solicl-
| lots. Tipsters." self-styIed stock
brokers" and similar operators are
sending a large volume Of mali soItrf-
tatlon to inexperienced investors tho
/ puik or which would not bear inyez
| ugation. HI
me chesapeake and Potomac Telc-
Pnone company operated at a net in
come Of sf25,s75 in October, 1922.
oihcials of the utility announced this
! morning. The figures indicate ore
~ ~ 'ne most prosperous months IN
.he history Of the company. being
! approximately $4,000 in excess Of
| the profits for the correspondinc
! ihohth OF last year. when sloe, ,oS.
| was reported, and also compared
very favorably with the net return
OF sloo,5T6 reported in September
| this year.
Total operating revenues for the
month were attended by an increass
$4,000 to s5I3,sso. " whtle aPeF0e,na5s expsnses
SHOW only the nominal increase OF
$1,000 TO s34G,512. Taxes assignable
TO operations and uncollectable az
eresated sS6.2o4. There was no in
come from other sources during the
month
net additions to plant and equip
ment during the first 10 months Of
TINS year amounted to sIc74S2S
The gross added aggregated s1.948
o!4, while retirements amounted 10
| s674546.
Local Bank Assets.
District banking institutions sub
Ject to the supervision OF the cor
| troller of the currency. as of the last
hscal year ended June so last, had
| aggregate assets OF s2s6,126, 900, 2
gain Of s7,ss9.oo0 for the l2.montll
| period, it was announced in Mr..
| Dawes official report, made public
today. The capital stock showed an
| Increase of s1,25s, 900 and individual
deposits an increase Of s10.5soooo
trust companies and savings banks
| the hscal year ended June 80. 1924,
| of S7,470,0o0, an increase in the wear
of $4,000
Expenses paid on account of sal
aries and wages. interest on deposits
and on borrowed money, together
with other miscellaneous expendi-
lures. amounted to s5,262.o00 and
! show an increase of s259,00o
| These institutions appear to have
been fortunate in the past year in
that they were required to charge
| off only s4SS,000 on account of worth
| less assets, compared with S594oOo
in the previous year. They recov-
| cred, however, S117,0oo from charged
| off assets, compared with S1350oo in
| the previous year, leaving net addi-
I tion to profits of S1,8s7,0o0, which
shows slight reduction in The year
out Of which dividends were declared
! to the amount of s1.155. 900, compared
| with dividends Of s1,c11 900 in the pre-
| vious year.
The net addition to profits of these
companies and banks to capital and
surplus was SIS per cent compared
with 9.75 per cent in 1928. and the
percentage of dividends TO capital
and surplus, 5.42, compares with 90
| in the year 1928.
On June 80, 1924, there were -
building and loan associations in the
District of Columbia subject to tho
supervision OF the controller of the
Currency, with aggregate assets OF
$40, ,467 900 compared with assets OF
| the same number of associations Il
year ago of sS7.5SS,o0e.
Sixteen of these associations operate
on the permanent plan, on the
serial plan, and l on the terminating
plan Twenty-one associations re-
quire installment dues of 81, one re-
quires payments of So, and one pay
| ments of $3.50.
The number of borrowing members
June so, 1924, was 14.7s4, an increase
nom borrowing members was SS,44O,
an increase of 1,544 in the year.
Today marks one of the busiest ses-
sions .of the year for local banking
institutions.
In addition to the routine visited
upon them the first day OF every
month, the banks today find them
selves flooded with unusual business.
In practically every institution
maintaining this class of business
Christmas savings clubs for the en-
suing year are being opened. At the
same time, hundreds Of thousands of
dollars in club checks are being pre-
sented for payment. Then. too, large
corporate dividend checks are
being received, either for cashing or
for deposit. These include U. S. Steel
and Pennsylvania Railroad, due last
Saturday, and long list due today
headed by Studebaker, Baltimore and
Ohio, and Washington Railway and
Electric.
The local chapter, American In
stitute of Banking, tonight holds it's
theater benefit party at Polls. Pro-
ceeds of the evening will be used
to defray necessary expenses for the
coming year. The attraction offered
has Just completed a long run in
New York and is considered one of
the hits of the season In addition,
there will be several surprises in
store for those attending, besides the
presentation of prizes to the three
members who collected the largest
amounts of money from the sale OF
tickets.
The Washington Chapter has con-
tributed six presidents, eleven vice
presidents, four cashiers, fifteen as
sistant cashiers and assistant treas
n the District banking fieId