Evening star., 1925-09-30
BANK C[EAR|NGS
GAIN S16,314,37O
New Record Looms as Sep
tember SWeIIs Total to
S136,921,628.
BY CHAS. p. SHAEFFER.

BY CHAS. p. SHAEFFER.
The purchasing power of Washing
ton during the month ending today,
as measured by check transactions.
increased $l6,314.37o over the same
month of 1924, according to announce
ment this morning by Charles T..
Bright, manager of the Washington
Clearing House Association. Durin"
the month s105 .3l8.309 changed hands
via checks. as against only $50, ,003 ,a3a
in September of last year.
Amount of the months total is he'd
unusually large IN view OF the fact
that the usual Fall activity does NOT
set in until the fag end of the period
On the other hand, this month is very
productive as a dividend period, many
large corporations making their regu-
lar disbursements on the 18th.
With the three-quarters' mark
reached today taken as a criterion, the
total clearances for the present cal
endar year will represent a sum at
least 100000 in excess of last
year. For the nine months ending
today the total is 1904 .s51 .348.71, a
gain of $136, ,921 ,628 over the same
period of last year. Total for the
entire year Of 1924 was S1,l67 .398.426.
Bankers Move Offices.
The local office of ]. A. W. Igleharc
ers, is now being removed from the
ibis Building to new suite in the
National Savings and Trust Co. Build
ing. Expansion of business necessi-
tating additional office space is the
reason advanced by c. G. Parker, jr.,
manager of the Washington branch.
Mr.. Parker also announces the addi-
ton of Robert Stead, jr., Robert G.
Johnston and Harold c. Patterson To
the selling force
Trading on Local Board.
Stock of the Washington Gas Ligi,
Co. enjoyed a slight upturn on the
local stock market this morning. -
shares selling up to 64A, netting 4
gain of half a point. Capital Traction
stock also firmed up to 99iz. ex-divi-
dend, Ia per cent. although a ma
jority of today's sales OF ISL shares
were made at 99A.
Washington Railway and Electric
common stock sold in small lots al
16s and 1854. and Merganthaler re
corded a further advance to 1877 on
light volume. National Mortgage and
investment preferred was stronger
on good selling at ~, with Riggs Ma
tional Bank unchanged.
There was relatively good selling on
the investment side Of the list of Capi.
tai Traction 5s at 99A.
Southern Boosts Earnings.
Surplus of s11, ,729 900 reported bi
the Southern Railway for the
months of 1925 after taxes and charges
Is equal to $50 a share on the com
mon stock, after dividend require.
ments on the per cent preferred
shares, against $9.149.000, or S5a5
share in the corresponding period a.
1924. August surplus was S2.2l0 900,
against 81 $50 0G0 IN 10
; The company's equity in undistributed
earnings of subsidiaries for the eight
| months is equal to $3.50 a share or
the common, against S221 a share a
year ago.
Pennsy Reports Income.
An increase of s3,498,762 In net
operating income is reported by the
Pennsylvania Railroad for August,
| making a gain Of s9.712.447 for the
eight months this year over the same
period of 1924. August gross revenues
increased s4456.576. and in the eight
months gained 11,922.4s
Power Deal Completed
With sufficient stock already de
posted to assure the consummation
of the plan for the acquisition of the
control of the Western Power Corpora
tfon by the North American Co., Presi-
dent Frank l.. Dame of the North
American Co. today issued a state
ment In which he gave much detail
ed information about the combination
of the two compa nies.
With the inclusion of Western Pow
er properties, Mr.. Dame said. the
North American system is the world s
largest electric energy producing
group under a single ownership. The
statement gave the combined earnings
of Western Power subsidiaries for the
~ months ended August 81, 1925, as
1882 .053 gross and S9276,2S6 net.
as against Sl6.513, ESQ gross and 81
457.7S9 net for the IL months ended
December 81, 1924. The number OF
customers served by Western Power
subsidiaries is in excess of l55 900
Addition of Western Power svsten's
present generating capacity of 412,-
500 horsepower will increase the
North American systems generating
capacity to 1.655,416 horsepower. Full
development of projects in California
will increase the hydroelectric capacity
| of the Western Power group TO 1900
900 horsepower.
Pleased With Acquisition.
Control of the Western PoWl..
i Corporation is regarded as one of the
most advantageous acquisitions in
| the North American Co.'S history"
said Mr.. Dame. Because of it's vast
| irrigation and reclamation projects.
| California, perhaps more than any
other State in the Union. is depend
| ent upon central station electric
| power, and this is particularly true
| of the central section of the State
served by the Western Power system
| including the Great Western Power
| Co. and the San Joaquin Light and
Power Corporation. These subsidi-
aries operate in the most important
| industrial and agricultural parts uf
California. comprising "a counties
with an area of 10000 square miles
and a population of 1,750,000. Cali
| fornians. by the way, use more cleo
| tricitY per capita than the people of