Evening star., 1928-11-27

date ha t the Charles G. Glover.
checks are mailed
to depositors the newpaper advertising
for next years clubs will be started by
the cooperative plan adopted with
such brilliant success by the District
Bankers Association. The advertising
committee announces that four more
local banks have joined the procession.
so that 80 institutions viii carry on this
form of saving and thrift during 1929.
The clubs will be opened Monday, De-
cember 3.
The head of the committee of the
Bankers Association having the Christ
mas savings clubs in charge is Eliot H.
Thomson of the Washington Loan &
Trust Co.
c. c. Glover Passes 82d Birthday.
Charles c. Glover, chairman of the
board Of directors of the Riggs National
Bank, father. of Washington's park
system" philanthropist, civic leader
and brilliant financier. passed his
eighty-second birthday Saturday at his
home, to which he is confined with ILL
ness. He received scores of letters and
notes conveying best wishes from his
legion of friends, and also many
flowers. The officers of Riggs Bank
sent him an immense floral piece, which
carried with it the affection and greet
ings of every member of the staff. All
these tokens of regard showed in a
most pleasing manner that Mr.. Glover
is not being forgotten in the financial
district.
Trust Company Resources Gain.
The banking resources Of the seven
| trust companies of the District of Co.
lumbia now total $112.882, sos, accord
| ing to Trust Companies of the United
States for 1923, just distributed by the
| United States Mortgage Ss Trust Co. of
new York. This shows gain of $6,184,-
| 767 in - months. The book records
| the total capital of these companies as
$1l 100000, surplus and undivided
profits $1l,733,607 and deposits $685.
178 1896.
The book reveals notable increase
IN the banking resources of all the
trust companies in the United States.
| the impressive total now being nearly
$4,000, 100000 gain of $1.465 900. 600
over year ago. The capital, surplus
and undivided profits for all trust COM
panies is now recorded as S2,944, $780,
OS6 and deposits as 1881 ,049,419
Inc trust companies in six States
having banking resources of over 81
0O0,000,000 are California, Illinois, New
Jersey, New York, Ohio and Pennsyl-
vanla. In reviewing the figures, John
w. Platten, president of the trust COM
pany, states:
During the past year trust company
resources have increased almost one
and half billion dollars and compared
with 10 years ago the increase is over
1912 billion.
Never before has there been such
widespread interest in the fiduciary
actlVltleS OF trust companies and the
rapidly increasing number of appoint-
ments under wills. and trusts is unmis-
| taxable evidence that both individuals
and corporations are recognizing more
and more the capacity of these com
panles Tor administrative service of the
highest type"
Gas Light Earnings Reported.
Net earnings of the Washington Gas
Light Co. amounted to S26,150.76, ac-
cordlng to the monthly report filed with
the Public Utilities Commission. This is
gam over the same month last year
OF cnly S32l.l8, the small increase being
attributed by officials to the expense to
the company of the present valuation
proceedings, which aggregated $25. 900
IN the month under review. Earnings
Tor the first 10 months of the present
year totaled 1855. 1894, an increase of
$lO3. .432. 40 over the corresponding
period in 1927.
Operating revenues reached $685.
ozI.oI IN october, according to the
statement, an increase of $40 eq1 "a
over figures for the corresponding period
OF last year, while operating expenses
totaled $347,092.37, which was $40
1852 in excess of October. 1927. Taxes
were $35,877.49, as compared with $37.-
1918 year ago, and operating in
come, S79,079.97, against S78,953 So in
october OF last year. Total non-operat-
ing income was $5,32778, and gross
corporate income was $S4, 4,407.75.
/ Operating revenues of the Washing
ton Gas Light Co. for the 10 months
ended October 81 amounted to S4,538,-
l10.37, a gain of $156,94064 over fig
ureS for the same 10 months of 1927.
Operating expenses. which reached
$3,065, ,804.94, were 49,160.2O in excess
of the corresponding period year ago
Taxes for the 10 months were $685.
663.75, as compared with $366,43 a
year ago, and operating income ST. 029,-
5l7.50, against $977,149O1 last year
Total incorporating income for the 10
months was $36, ,193.03, and gross COR
porate income was SLIPS, 710.58.
Peoples Drug Reaches Mex Peak.
Peoples Drug Stores preferred
reached new high mark on the Wash
ington Stock Exchange today during a
busy session. The Stock, which has
been selling around 1876, jumped to
1922 on single sale of 10 shares.
Other stocks sold around recent
prices. Potomac Electric Power per
cent preferred came out at 1083s
Washington Gas commanded 10534 and
106, Sand e. Gravel preferred 90, Fed
eral American Co. preferred 1922 and
Merchants Transfer & Storage COM
mon 1891.
Riggs National Bank warrants sold
at $40 in fractions and full warrants
at BOT and 305 Mergenthaler Linotype
sold at 1053s, while 25 shares of Capt.
tai Traction changed hands at 1065s
There were quite number of bono
transfers, Washington Gas 6s, series
A, opening the market, 1852. Wash.
ington Railway & Electric is came out
at 9112, and Washington Gas SIS movee
at 104la. Tt present seven issues or
the exchange are quoted ex-dividend.
GIcanings in Financial District.
More than 300 attended the dinnel
\ given by the Washington Credit Men,
4 Association last evening, preparatory tx
4 opening the education class this eve.
I ming In the stock exchange rooms. Thu
a associations new move is meeting with
q marked enthusiasm.
w. w. Spaid has returned to hi
desk at w. B. Hibbs & Co., after
short trip to New York to attend
d meeting of the governors of the out-of
town section of New York Stock Elk
change firms.
President Fernando Cuniberti of th
International Exchange Bank has re
y turned from a business trip to Ney
n York