Evening star., 1928-12-28

| OO4.94 IN the same petlOQ IaSL year, d
increase in 1928 of $651,632.21.
Total gross earnings from operation
| for the month Of November reache
$854,754.51, against $790,7l9.64, gal
Of $64,034.87. The company's operatin
expenses amounted to $319, ,416.45. com
pared with $328,72127 year ago l
| November, showing reduction IN ex
penses In November OF this year
more than $1,000.
Total net earnings from operatio
were reported as .$535, ,338.06, again'
$461, ,998.27, an increase Of $73,339.T
| After all the usual deductions the com
| pany had total net income for tt
month of $393, ,708. 81, compared with
total net of $3l7,143.98 in Novembe
/ 1927, an increase in the month undt
review Of $76,564.s9.
w. r.. d e. Report Also Filed.
According TO-, the report fled toda
with the Public Utilities Commission th
| total net income of the Washingto
Railway & Electric Co. for Novembt
was $241, ,844.25, compared with 1927
702.05 a year ago.
Operating revenues totaled $481
| 1856, In comparison with $487, 1855
| November, 1927. Operating expense
and taxes totaled $395, $685., again.
| 1884, ,641.93 a year ago. After dedue
ton Of expenses and taxes the total in
come from operations amounted to $86
22s.27. against $los,124.01 in Novem
Der, 1927. F@ --.' 49,
For the first II months Of this year op
Grating revenues amounted to, $5,277,
927.96, in comparison with $5,347, ,687.1
last year. Operating expenses and take
totaled $4,346, 1927, against $4,439,
687.18 last year. Total income fror
operations amounted to 1891 ,525.74
compared with $9i6,83803 in the sam
period last year.
Incorporating income for the 1
months reached $l.410, ,399.19, againS
s., ,26l ,412.05 q year ago. Gross income
less taxes and expenses, reached tn
sum Of $2.34t,894.9s, in comparison
with 81, ,196. .250.OS.
| Other deductions from gross totale,
$7I4,3e5.76, compared with $710,733.6
q year ago, this leaving total net In
come for the IL months of 81 ,627 ,499, II
In comparison with 81, ,4e7, 7,5I6.44. Thu
it will be noted that while the TRACTION
company had falling OF in Novem
ber,s net compared with a year ago, tn
net income for the IL months is wei
ahead Of the. corresponding period Il
1927.
| Investment Study Urged.
Craig B. HazIewood, president of tn
American Bankers Association, declare,
over the radio last night that the diff
ference between an unsuccessful invest
ment program and q successful one /
simply that one proceeds by impuls
and the other by definite plan. Their
are a great many individuals and ever
banks and corporations that do thei
investing almost entirely on impulse
They invest in one type of security on
day and another the next. trusting t.
their sense Of balance to bring abou
proper safety, income, marketability an,
the other essentials of sound program
Another type Of investor proceeds Ii
the modern and scientific spirit II
considers his age, his situation. the ac
tive years ahead of him, his probabl
income, his taxes, his needs. Calm
In competent counsel upon the problem
ne then seeks to arrive at plan whic]
VIII serve as q guide to hold his cours
steady In spite Of all the temporary dis
fractions, opportunities and temptation
which each day brings with IL. II
recognizes that time Is made up of bu
markets and bear markets, prosperou
periods and periods when the worI
Is taking up the slack!
For the individual. the corporate
ana the banker, all the advantages al
IN favor OF wen planned inveStmer
program, Mr.. Hazlewood asserted.
Associates Honor G. B. Pitts.
A dinner was given by the officers an
associates Of the r. H. Smith Co
q. Bryan Pitts, chairman of the boar
OF directors, last night at the Harnilto
Hotel. Following the dinner shol
actresses were given by Frederick !
Ahiman, who was introduced as toas1
master BY the company's first vice pres
cent, G. Ebert Anadale. FolIowin
representative Zihlman's address M
Fits and Samuel ]. Henry, president {
the company, spoke.
Among the guests were Roger
Wniteford, Maj. H. c. Maddux. + J
EDWARDS. jr.; @. r. Trimbie. W. y
Ross, Philip M. Julien. Lewis
Incmas, E. L. Fuegel, J. Y. MORGAN.
maynard Magruder William p Ra,,,
OF new York, Donald Whitney of Alban
ana j.: Ryan Smith of Newark, G.
Scnindler and Paul J. Dundon.
Early Dividend Payments Voted.
The directors of the Firemen's Ins,,,
ance Go. OF Washington and GeoreetoW
nave declared the usual Semi-annu
mYioeno OF per cent, payable Janua1
q 70 StocK OF record, December "a.
Inc Cercoran Fire Insurance Co., n,
declared the regular semi-annual div
dend Of per, cent, also PAYABLE :
January g.
The Norfolk 8s Washington steanbo
Co. has voted the regular Quarter
dividend OF 8 per cent and the us,,
extra OF per cent, both OF which W
be paid on January 2. = "
Bankers Council Meets Today.
The council of administration of Il
, District Bankers Association viii me
this afternoon in the ofIice of Presidel
! Robert " Fleming at the Riggs Nation
: Bank.
: The meeting is expected to be u,
E usually interesting. There are maj
! matters in connection with the ne
: convention which may come up, one
these being the appointment by Gener
Chairman c. H. Pope of the speci
O committees
The bylaws for the new safe d
poSit section Of the association are al
3. likely to receive special attention.
Chestnut Farms Common at zoo.
Chestnut Farms Dairy common
200 for the first time on the Washin
ton Stock Exchange today. Lanstt
; also made new high, selling at 120 I
the first time.
Other stocks were strong and acti1
selling at recent levels. Capital Ira
ton was up Va, changing hands
/ 1861. There was a transfer Of /
shares OF National Union Fire Insu
ance Co. at 27.
The bond market was also strong, t
Gas issues, Capital Traction SIS q
RaI1way ~ Electric lS absorbing