Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-07-28

VAlGEAS1N&2Ns 3 & 4
deduction Of taxes E%##M$M
and other expenses, ~--4--Saaaa''A ~ -
was reported as John Poole.
SI9S .-T5.rS, while
oneTa Eins income in June. 1927. totaleG
Sl22. S29.62.
Net income for the first six months
Of the present wear reached SS9l ,25l 81
against Ssol ,So5.44 during the first haii
Of 1897, a remarkable gain IN earnings
in 1928.
Georgetown Gas Report Out.
The GEORGETOWN Gas Light Co. re-
ported net earnings for June of S6,-
$50 IS to the Public Utilities Commits
sion today. Net income in June. 1927,
amounted to SS,47l.l4.
The company's operating revenues
amounted 10 S67.9l6,43, compared with
S6S,506.4S in the corresponding month
a year ago. Operating expenses re-
ouire6 S51,7T4l7, against S4S,6Sl.SS in
June 1927.
After all the usual deductions the
company had net operating income
for the month of S12,o6905, in COM
parison with $12.158.SS Il months ago,
The report Of net earnings for the
first six months of this year shows a
t0oQ ESaAlA NkSA 49, SSasVoS+SAs 0S1AAA9e
$56.230.22.
Probes Improbable Banking.
John Poole again will head the Dis
trics Bankers Association standing
committee on improbable accounts
and business. In recent years the pres
ident Of the Federal-American National
Bank has made a special study into
bank accounts which do not return a
profit and has already furnished the
local association with much valuable
information on this subject. He was
chairman of this same committee last
year and was prevailed upon by Presi-
dent Fleming to remain in the service
for another IL months.
At the last meeting of the directors
of the Federal Reserve Bank Of Rich
naond Mr.. Poole furnished q chart.
which compared bank cost in the fifth
district with those elsewhere in the
country, and made it easy for every
bank n the district to see just how
1t stands.
August Sales Outlook Bright
According to this weeks report of
the United Business Service of Boston,
August gives promise of being an ex-
ceptionally favorable month for sales
campaigns.
The seasonal influence has appar-
entity had little effect on the activity
In the steel. automobile and construc-
ton industry Latest developments in
the steel trade indicate that thus far
in July, which is normally much
duller month than June. steel bookings
have shown a sharp squirt. operations
for the industry as a whole being
nearly up To the june average. This
is all the more remarkable in view OF
the record production of the first halt
Of 1928 Most of the buying has been
on a sfort-range basis, and this indi-
Gates not only that actual consump-
ton has been large. but also that ac-
cumulations of steel from first hall
shipments have been exceedingly small
Seasonal decreases in automobile
output have thus far been Of much
smaller proportions than usual Several
large companies. who were out OF pro-
ductson during part Of July in prepare
ton for the presentation Of new models,
are nov producing more cars than
previously and at an increasing rate.
Bonbright Reviews Investments.
A total OF nearly $4,000, 900. 900 now
Is invested IN the public utility business
of the Nation. exclusive Of the steam
railroads. By more than 1000. 600 stock
holders. according TO a public utility
survey made by Bonbright g. Co. The
largest investment IN any one branch
of the industry is that Of the combined
electric light and power and gas III
dustr1es, amounting TO about $l2.50O,'
600 .0OG. This compares with abou
Sc. 5000 .000, 900 in electric railways, oyel
IS. 800 coo 600 In telephone and tele'
graph companies and an amount esti'
mated at over So 500 ,000, 900 in watel
supply facilities.
Although on January 1, 1928, thu
amount of capital invested In the cleo
tric power and light industry alone wa
placed at So 500 600, 600" the analysis
states. st is estimated that during tn
next FIVE years this sum viii increase 3.
So 600 coo 600 Revenues. of the eiectri
light and power industry have shown al
increase in every year since It's inception
IN 1892 Gross earnings OF all tnes
companies in the country In 1902 ag
gre gated approximately LOO. DOC
Twenty years later they amounted u
81. 783. 700, 600, more than 20 times a
much"
Financial District Notes.
The recently declared Mergenthale
Linotype dividends are payable on Sep
tember % TO stockholders Of record a
the close Of business September 5. tn
transfer books viii not be closed.
The weekly Federal Reserve Eepor
shows Indebtedness Of member bank
In The fifth d strict rose 70 new pea
for the year at $50, 83f 600. an increaS
during the week Of approximately 50,
600 900. The Richmond Banks rath
dropped / 1913 per cent from 54.S0 pc
cent week ago.
The Virginia Railway reports for Tn
six months ended June 80, 1878, sufplu
of SI.kl506i after taxes and charges
equivalent after allowing for diyiden
requirements On the & per cent preferre
stock 30 SlS3 a share earned on out
standing 3f2.7i5 shares If c0mmo
stock. This compares with S5,4Sl ,36i
or s8z5 a share, in first half Of 1927.
Washington ranked eighth among III
cities IF the United States in the amour
Of life .surance payments IN 1927, a.
cOrding TO figures compiled by the ma
t30faI Underwriters. IL that year bent
ITS Of 50 .405. 900 were paid here.
The First Carolina Joint Stock Ian
BANK passed tilS pEf geH1 bFAuSA
due at this time The last paynef
OF & per cent sen0i-annually was mad
January 3, 1928.
X. h. Mellon, brother Of Andrew
Mellon, was one Of the directors Of II
Pennsylvania Railroad who urged u
expenditure Of $40 600 600 around Pitt
burgn The outlay Was voted.
A. = Honts, cashier Of the People
State Bank. Cherrydale. Is spending
weeks vacation at his former HON
Eagle Rock. Va.
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RUBBER DECLINES.