The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1928-02-28
PAYROLL c j I S
BOOMERANG
By RICHARD HATTON

The close Of the second month OF
the year finds business in q ntate
which seems to have the expert cam
znentators guessing" The guess
work il caused by the. somewhat con.
flicting elements in the situation.
According to official reports, the
steel output continues to increase,
avhile railway car loadings are less
than year ago. Building contracts
awarded last month were reported
as larger than in any corresponding
month with but one or two excep-
tions. To balance this, 1t is found
that cotton and wooden textiles re
more or less depressed.
Automobile production is increas.
ing at fast pace, while the warm
winter has cut into the profits OF the
coal producers. Bank clearings are
generally above the figures Of last
year. while oil production has de.
clined and copper prices are low.
Commodity prices have moved up
very slightly and unemployment is
causing some concern.
The foregoing seems to be . very
brief summary OF what the "Observ-
lers'' find in the present situation
and they add, as general rule, that
because OF a widespread decline In
payr0IIs, retail trade has suffered,
especially in manufacturing centers.
This, Of course, is q factor which 10
not OF such great weight In Wash.
ington where the constant Govern
ment payroll serves as a stabilizer
and, regarding the situation in gen.
-eral, the Guaranty Trust Company
OF New York finds In its monthly
survey, that ''on the whole, it may
be said that. although a good deal
Of irregularity exists, commerce ana
industry are responding fairly well
to the influences that usually make
for expansion at this time of year.
And there has certainly been no
such as to indicate q likelihood OF
severe recession"
Grocery Profits
A net profit of $676. 243.s4 for
the year ending December 81, 1927,
il shown in the annual report OF
the Sanitary Grocery Company.
This includes operation Of the.
Piggly Wiggly Eastern Company
from September /. Preferred stock
Of the Sanitary is quoted on the
Washington Stock Exchange around
los. The New York Curb. where
the common stock is listed, has
been quoting it at about 239.
The net profits shown In the
Eoanpany's report IL equivalent, after
Federal taxes and other charges
and after payment of the 81 per
cent preferred dividends, to SILT.
n share on the $4,000 no par shares
&C common stock.
Sales during the year totaled
81, 70e ,S74. so, net earnings before
Federal faxna were 1871 ,24S.94, and
Federal and State taxes amounted
to 100000. Preferred dividends
paid were So, 473.S3. The COM
pany reports total assets OF $4,-
O66, S60.A1 and an operating surplus
OF $s13, 69s.63.
Vice President Wilmer ]. Wal
Ter. Of the Federal-American Ma.
tional Bank: Vice President Joshua
Evans. tr.. of the District National
Hank: Miss Katherine Krieg. Riggs
National Bank; Miss Mabel v.
Rovce. washington Loan and Trust
Com1zay: Miss Lois A. White,
Federal-American; President /. j.
Roberts, OF the Washington chap.
ter OF the American Institute Of
Banking; Past President 7. Hunton
Leith. Of the local chapter; James
"A. Soper and Helena D. Reed, Of
the Lincoln National Bank, and
James G. Doolin, jr., of the Com
ynercial National Bank, were the
washington delegates to the annual
BANQUET of the New York chapter,
Al. T. B.. held last Saturday night.
Most of the local delegation were
hack ct their desks yesterday and
reported the Gotham affair q great
success, with 100 guests at the
banquet.
Announces Removal
The Title and Investment Com.
pany of Maryland, whose local Of.
fices have been at 1912 K st. N. W.,
have announced the removal to their
new location at s23 Fifteenth st.
n. w. where the company has pur-
chased the building.
President George L. Starkey, OF
the National Bank of Washington,
has returned to his desk after several
days. absence, due to illness.
Vice President G. J. Gockeler, of
the District National Bank. has been
reelected a director of the Chaplin
Sacks Company.
According to the statement filed
by the Chesapeake and Potomac
Telephone Company with the Public
Utilities Commission of the District
covering it's operations for January.
plant facilities and central office
equipment added to the system dur.
ing the month amounted to 1851 ,064.
retirements were $16,345, making net
additions $74,719.
OPERATING revenues amounted to
$s66,575; operating expenses were
&44S .673. making net opera ting reVe-
nues for the month $217,902. Taxes
assignable to operations for the
month amounted to $54,275.
BALTIMORE LIVE STOCK