Evening star., 1927-05-29
GAS NET IN APRIL
BELOW LAST YEAR
Hard Coal Strike Cause of
Lower Returns Shown in
Monthly Report.
BY EDWARD C. STONE.

1
sion. the figures revealing total oper-
ating revenues Of $4S8,521.56, com
pared with $500,031.55 for the corre-
spending month year ago.
/ Total operating expenses In Aprli
Of this year were heavier. being $5l9,'
| 900 .16 against 1912, 1880 during the
! same period last year. Total operat-
| ing income, after the usual deductions.
amounted to $129 ,S16.S4 compared with
| S157 ,064. so in April, 1926.
The total net income for April OF
| this year was $77,90S.19. while for the
same period last year 1t reached the
surprisingly high figure OF $l1o, ,o93.to'
| In connection with such large slump
| this year, it should be recalled that
| the hard coal strike was in progress
| in April Of last year.
The anthracite strike caused tre-
mendous increase in the consumption
of gas in Washington, this not only
| largely explaining the difference in
earnings, but making it really hardly
| fair to compare the reports of the
| two months at all. The total net cor
porate income for the month of March
| of this year was $88.849, whimh Is
about $4,000 under the return for
April.
Banks Addition Nearly Ready.
So rapid has been progress on the
extensive new addition to the Wash
| ington Loan & Trust Co. that part of
| it is expected to be ready for occu-
| pancy early next month. The trust de-
partment will be the first to move. be-
| ing ~ssigned to quarters on the third
| floor. The bookkeeping department
will be Quartered on the fourth floor
| and will continue to do the bookkeeping
fn, 4I,a h,o, nd
G streets in addition to that of the main
office. This rather unusual method of
dealing with branch bank has been
| found most successful by this insti-
| tuition.
The lunchroom for the banks per-
Sonnel will be located on the tenth
or top floor Of the annex. The foreign
department will move into the quar-
| ters in the old bank to be vacated by
the trust division. The main lobby of
the new building has been reserved
for the savings department and the
real estate department. the latter
now being situated in an addition to
the original bank on Ninth street. The
| new lobby Will be connected with the
present bank as the construction work
is completed, which will give the trust
| company most beautiful and commo
dious street floor banking rooms.
The exterior of the new building
harmonizes almost perfectly with the
handsome granite structure which it
joins. The interior pillars and other
decorations are also to be in harmony.
The safe deposit department is to be
of easy access from the new lobby,
the broad marble stairway starting
from a point convenient to the new
entrance, which is to be used for both
lln "A III
the present entrance being doomed to
be converted into a window. The an
mex, which. including the offices. will
treble the present floor space, is esti-
mated to cost approximately 81 ,0OO,-
900. The unified whole will give the
trust company home of remarkabl
beauty, convenience. and space to care
Tor normal growth for years to come.
Would Protect Installment Buying.
To put installment buying on a
sounder financial and economic basis,
r. Fl. Warder, superintendent Of New
York banks, suggests following these
principles:
"a 1.-THE sale of articles of merchan
disc whose period of usefulness will not
exceed the installment payment Pc
riod should be restricted to those in
dividuals whose ability, earning capac-
| ity and Willingness to pay is unques-
toned.
(2) Credit, in general, should only
| be granted or extended to those whose
earning power is reasonably certain
and whose previous commitments
against this earning power are not ex'
cessive.
(3) IA cash payment, otherwise
| called down payment, must be of
sufficient amount to protect the seller
| in case it becomes necessary to re-
possess himself of the article. without
an actual loss.
a. Proper watchfulness by the
banks in extending credits to finance
| these sales"
Bankers Form Tennis League.
Bankers don't work at their job
| every minute. The recently formed
| tennis league will soon open the
| tournament series. The teams will
| be divided into two sections and the
winners meet in the finals for the
world championship" among bank
ers. Following are the officers of the
/ tennis league:
w. w. Kicks, Commercial National
| Bank, president; Wayne Trackler,
McLachlen Banking Corporation, vice
| president; Herbert r. Glaser. Com
mercial National Bank, secretary:
and Harold Morrison, Franklin
| National Bank, treasurer. The follow
| ing financial institutions have entered
teams in the league: American
| Security & Trust Co., Commercial
| National Bank two teams), Washing
| ton Loan & Trust Co., Second Nation
| al Bank, District National Bank
Franklin National Bank, National
| Savings & Trust Co., Riggs National
Bank, Perpetual Building Association,
| Columbia National Bank, Federal
American National Bank. McLachlen
Banking Corporation and Merchants
Bank & Trust Co.
Other Financial Notes.
| The New York Bankers Associa-
ton opens a convention here one
week from tomorrow, to continue
until Wednesday evening.
| The last call for the local bankers
convention at Hot Springs will be
| mailed Monday. Reservation requests
are still coming in most encouragingly.
The only important change last
week in quotations of unlisted stocks
| dealt in on the local exchange was
an advance to 144 in the bid on Mum
sey Trust Co. and an advance in the
asked price to 154.
| Members of the Southeastern group
| OF the Investment Bankers Associa-
| ton Of America are taking a week
/ end cruise in Chesapeake Bay which
will rnd Monday morning at Balti-
more.
MAY CURB STRESEMANN.