Evening star., 1928-12-23

SoAASSpoHuAIlS perlOQ year ago t0l-
lows:
MSy:' isS7' NSy. Ssss
Xotal operating revenues. s646, i95 s678,677
Eotal operating expenses
and uncollectable ........ 465,998 483, ,999
- Net operating revenues. .slsoIs7 $le4.67S
Taxes aSsignable to opera
uons .................... 49l24 38.85T
Operating income .......s1sIo73 $I55.s2I
Won-operating income .... 2,7lI 1892
Gross income .:......... Sl3S,784 sl6O,7I3
Hents and miscellaneous de-
ductions ................ S,20s s,4o5
s1so,57s Sls7.2la
x1terest deductions ....... 21,S05 25,662
Net income ......... s1p8,771 8l31,556
Washington Exchange to Close.
The board of governors of the Wash
ington Stock Exchange voted yesterday
to close the exchange on Monday and
Tuesday
During the Saturday session 10 shares
of Washington Loan g. Trust Co. stock
sold at 523, an advance of points
over the last sale. Riggs National
figured in fractional share sale at SAT.
Capital Traction moved at 105ss
Potomac Electric 51a per cent preferred
at 1885 and Washington Railway &
Electric preferred at 99ss. The largest
volume of trading was in Mergenthaler,
which closed at 104a. Chestnut Farms
Dairy common changed hands at 1875.
In the bond division, Gas IS, series
A, sold at 1885, while 81 1000 and two
$500 B bonds changed hands at 1861.
Transactions totaling $4,000 In Wash
ington Railway & Electric As took place
at 91la, and $4,000 at 914. In the
unlisted department Raleigh Hotel Co.
stock sold at 81 Is and SO.
Latest Local Dividends.
The directors of the Liberty National
Bank, at their Friday meeting, declared
the usual semi-annual dividend of $3.50
per share, payable December 81 to
stock of record on December %. The
books are not to be closed.
AT meeting of the board of directors
of The Lincoln Investment Corporation,
held at the Offices of the company in
the American Building, it was voted
that the regular quarterly dividend OF
IL per cent on preferred stock out
standing as of December % be paid
to stockholders of record. An initial
dividend of IS cents per share was
veted on the common stock. The divi-
Aends are payable January /.
Operations in steel plants during the
week ended December Is were smaller
t.ean in the preceding week, but showed
a substantial gain over the correspond
ing period Of last year, according to the
Department of Commerce. Volume OF
money turnover, as indicated by check
payments, was greater than in either
prior period. Petroleum output during
the laSt-reported week showed gains
over both the previous week and the
corresponding period of last year. Lum-
Der output showed a decline from last
year. Bituminous coal production, on
the other hand, showed gains over both
the previous week and the correspond
ing week of 1927.
General index of wholesale prices
showed a further fractional recession
from the preceding week, but was still
somewhat higher than year ago.
why Christmas Clubs Are Popular.
On, the very, wide appeal of the
Christmas club the American Banker
remarks:
"Those who have had Christmas
come Spon them when their funds were
q little bit short and have felt mean
because they had not been able to buy
presents for their families and friends
such as they desired, readily appreciated
the idea of saving throughout the year
so that they could be sure to have
when Christmas came.
Prom time to time there has been
some discussion by bankers of the value
of such temporary thrift as the Christ
mas club; some people have said that
this was not real thrift, but was simply
the teaching Of saving for future spend
ing. However, aside from any amount
OF funds that may go into permanent
account, the Christmas clubs have been
q great benefit to the country. The fact
that thousands of people have, through
q regular program of thrift, enabled
themselves to have the funds to buy
the Christmas presents they desire, not
only adds materially to the general
happiness Of the country, but is another
important step in establishing our high
standard of living"
Bank CIearings Somewhat Lower.
Bank clearings in United States fol
week ended December 20, as reported
$4,000, against $14,296, ,962, 900 last
week and $12, los, ,651 900 in this week
last year. This weeks total shows q
decrease of 81 per cent from last week
but gain Of 15.5 per cent over the
like week year ago. Canadian clear
ings aggregated $379, 9,489, 900, against
$384, ,024,000 last week and $392, ,340,-
600 In this week last year
Washington bank clearings for the
week ended December 20 totaled $751;
OTIS 900 against $33, 10000 for the pre-
vious week. Clearings were, however
1913 per cent ahead of the clearings fol
the corresponding week in 1927.
Richmond reported clearingS OF $685.
S82 900 against $50,471 900 for the pre-
vfous week and a slight increase ovel
the same week last year. Baltimore re-
ported a good gain over the previou:
week but decline of 6 per cent ovel
the corresponding week year ago.
while results are not conclusive TIT
National City Bank of New York ha:
sxper:Gilced remarkable success In oper'
aCing its personal loan department dur
ing the past six months" says Trus
Companies Magazine. An average o.
500 customers and applicants are nan
died daily, and the amount OF business
handled has exceeded all expectations
Indications are that losses IN nan
ding small loans ranging from $50 u
$1,000 will be less at the end OF TIT
first years operation than the average
of one-quarter of / per cent as calcu
lated on the basis of all small loar
borrowings throughout the country un
der similar operation.
"While the National City Bank wa
not the first to inaugurate a loan de
uartnent for small borrowers as an es
cape from usuriouS practice, this stel
by the country's largest bank has sum
ulated other banks throughout tn
country to provide such commentator
facilities"