Evening star., 1928-12-29

Chairman e IT Peter A. Drury.
Pope being present and outlining som
OF his aims in connection with tn
important event. All members Of til
council were present.
Bank Improvements Completed.
Improvements which have bee
quietly carried on for several month
in the Merchants Bank & Trust C,
have been completed to the satisfactio
OF President Peter A. Drury and othe
officials. The most recent change
were the moving of the entrance fror
the corner of H and Fifteenth street
to the center of the H street side O
the banking lobby and the conversio
OF the corner space into a ladies
room, completely furnished and havin
It's own teller'S window.
In the rear of the banking rooms
handsome stairway leads to the mezza
nine. Back of this stairway the sas
deposit department is located and an
other stairway leads to the vaults in tn
basement. The trust department an.
treasurer's Office are located in the mez
canine and the real estate department
now has ample space for its activities
This department was organized in 1872.
and has enjoyed substantial growth.
Other officers assisting Presiden
Drury in guiding the banks destinie
include Rolfe E. Boiling, vice president
Frank P. Harman, jr., vice presiden
and secretary Frank E. GhiSelli, vic,
president; l.. E. Schreiner, vice presi
dent; j. L. Sherwood, vice president
Ernest Gerstenberg. vice president; H
j. Donoghue, treasurer B. Ashby Lea
veil, trust officer; Wade H. Ellis, coun
sci; w. G. Baden, Henry S. Wattles ant
w. Clarks Vernon, assistant treasurer.
Georgetown Gas Co. Reports.
According to the report for Novem
Der filed with the Public Utilities Com
mission by the Georgetown Gas Ligh
| Co., net corporate income for the month
was $12,500.08, gain of $2,792 ovel
November, 1927. Operating revenue:
were $83, ,421.87, an increase Of $12,,
523.03, and operating expenses amount.
| ed to $62,Sl1.41, compared with $54,.
340.74 year ago.
Taxes reached $5,167.23 last month
| and operating income was $15, ,443.23
an increase of $1,907.37 over Novem.
Der last year. Gross corporate income
amounted to $17,563.60, against $14,.
52l.8S year ago.
For the 11-month period ended No.
vember 80. operating revenues aggre.
gated $798,044.0l, which was $101,-
780.31 in excess of the figure for the
same months of last year. Operating
expenses were 608,190.33, compared
with $537, ,956. 40 in 1927. Taxes amount.
ed to SAG, ,389.87, and operating income
$l41 ,464.86. Gross corporate income
reached $158,S98.16, as against $685..
587.70 year ago.. Net corporate in
come, after deductions for interest
amortization of debt and miscellaneous
was $l04,937.56, a gain of $18,024.49.
A. B. A. Council Date Settled.
The next executive council meeting
of the American Bankers Association
which is held in the Spring each year
has been set for April 1918 at the
Edgewater Gulf Hotel. Edgewater Park
Biloxi, Miss, it Is announced by F.. N
Shepherd. executive manager of the or
ganization.
The executive council meeting, next
to the annual convention of the asso-
ciation. Is one of the largest and most
important national gatherings of the
year among bankers. The council is
composed OF representatives from all
parts OF the country prpportionate to
nanKlng membership In the association
A@A S0NAA 0OnUCs ~ ID empowered LC
transact a large part of the admins
tratiV4 business Of the association and
10 receive reports from all the divisions
sections, commissions and committees
Of the general body.
Robert V. Fleming, president Of the
District Bankers Association, will rep.
resent Washington at these sessions
G. q p. Directors Vote improvements.
The board of directors of the Chesa,
peake q Potomac Telephone Co.. at it:
regular monthly meeting here yesterday
authorized additions and improvement:
to the telephone system in the District
OF Columbia, involving expenditures OF
$451 ,875, for the providing of facilities
TO meet the demands of the public fol
telephone service.
The plant to be placed, according tc
an announcement made by Charles T
Clagett, general commercial Representa-.
| tive, includes additional equipment ir
all central offices, improvements in the
toll central office and outside plant ex.
| tensions in Wesley Heights, In the
Cleveland central Office area and un.
| derground conduit and cable addition,
In the -Potomac-Decatur centra
| ONCE area. Gable relief will also be pro.
vided in the western section of thu
Adams-Columbia area.
The board of directors include
| Charles j. Bell, E. c. Graham, Johr
Poole, B. F. Saul, Albert E. Berry anc
-. s. Porter, Washington, D. c., anc
w. S. Clifford and E. S. Wilson, New
| York.
SOuthern's Estimated Earnings.
Net income Of Southern Railway Co
| for IL months ended November 80. 1929
is estimated at $16,770000 after take.
| ana charges, equivalent, after allowine
for dividend requirements on 5 per cen
preferred stock, to $1078 a share
earned on 100000 shares of common
stock. This compares with $20. .2Ol 900
| or $l3.42 share, in same period o.
1927.
November net income is estimated a
$2.l5l 900 after taxes and charges
against $l,S95,OoO in November, 1927.
Timely Financial Notes.
| The newly organized fiduciary sec
ton of the Bankers Association viii
hold special meeting on Friday. Jan
uary 20, at the Willard, with Reubei
A. Lewis, deputy manager of the trus
companies section of the A. r. A.. a
guest speaker, according to announce
ment by B. L. Cotton of the Distric
| Nd'AoIldA odlk, UlIluer committee chair
man.
The Norfolk g. Western Railway ha
declared the regular quarterly dividen
Of 81 on adjustment preferred stocl
payable February 19 to stock of recor
January 81.
The Federal Trade Commission fa
dismissed its complaint against the Ma
tional Cash Register Co., charging I'm
fair competition through disparagemen
Of a competitor and its products-th
Remington Cash Register Co.
The American Ice Co., through il
New York subsidiary, Knickerbocker Ic
Co., has acquired three plants on Lon
Island-Nassau Consumers Ice Co, q
Oceanside; Ueblacker plant, at Lyn
brook, and Garrett Bush g. Sons, 9
Hampstead. Ahe company's operation
AAA Long IslaG.G are now handled by
A8A. ~-@ e =. sssa74~~