Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-06-28

month reached $425 .474.73 in compari
son with 1915 ,6oS26 for the correspond
ing month a year ago.
Five Months Earnings Reported
Operating revenues of the railwa
company for the first five months c
the present year were Sc, 46S, 699.3
compared with S2,4a6, 496.03 in May Q
last year. Operating expenses an
| taxes amounted to 81 ,977, 428.40 agains
S2.052.l6S.97 year ago.
/ These deductions left a net operating
income of S491, 270.s7, in comparison
with an operating income of S444.327 o.
a year ago. The incorporating moons
totaled S69i ,646.25. against 5000, 225.3
! in the same period last year.
After all deductions from gross III
come the railway company reported ;
| total net income for the first fiv'
months of 1928 of S858.572.97. agains
the lower figure last year of S749,995.55
POTOMAC Powers Earnings.
The Potomac Electric Power Co. ais
! filed its report today with the Public
Utilities Commission, the figures show
/ ing a net income for the month of Ma,
! of s29s,7i3.93, compared with $215,
j I'd Loo 4kl May 1885, VA Ola AAA~ANONo% y
/ S83.27655 for the month recently
/ closed.
The power company's gross earning;
| from operations totaled ST57,6l6.if
compared with S677 .024.SS last year, o.
an increase of $50. 59l %. Operating
expenses amounted to S32T.083, ID
against 1918, 1918 last year, an ad'
vance of $l3,354.59.
Net earnings from operations totalet
| $3.50. $50. 80. compared with 1865, 295 q
| in May, 1927. an increase Of ST., 1864
Gross income from operations less 5x.
penses and taxes totaled $442, 1875
in comparison with $3T9 sos. SO. TIL:
also being an increase of s52,5S2SS.
Fine Five Months Showing.
The Power Co. also fled return
covering the first five months of 1928
showing gross earnings from opera
tons of S3,943, $685., compared witt
/ s3.62l .683.40 a year ago. This is
gain for the period of 1921 ,e85.l5.
Operating expenses amounted TO 81.
| gas. sos. Is. compared with 81, 529, O55 o
| in 1927, increase in expenses OF $lO6,
754.23. Net earnings from operation
totaled So, 1907. $3.50 against S2,o92, 628'
SO last year. or an increase OF $2l5,
230.92.
Gross earnings less expenses o
oneration amounted to $4,000. 906 i
COMPARED with S2.l52,28I 35 IN 1927, O
an increase of sos, 62478. After al
| the usual deductions the Power Co. hat
a net income for the five months 0
81 .565. 97s.84 in comparison with 81 1908,
| I75.46 in 1927. This is gain in ne
earnings Of s262, S03.3e.
Bank President OF to Maine.
| Edward j. Stellwagen, president o
| the Union Trust Co. leaves here tomor
row for Poland Springs, Me-. where ~
will pass the next two months at IN
| Poland Spring House. The veteran
| banker has spent more Summer vaca
| tons at this resort than any othe
q1lest. and has been well acQuaintei
with three generations of Rickers, tn
| famous hotel managers, although tn
| third generation is very young.
While Mr.. Steliwagen is away Iron
Washington. the new annex to Tn
/ Union Trust Building viii be completed
| This addition viii more than double tn
| present banking room space, MAXIM
one of the most attractive and con
venient Hobbies in the city. The presen
lobby In now being transformed Z
match the new facilities in the annex
and all the changes will be finisfe
about August Is.
Mr.. Stellwagen had oversight OF tn
erection of the original Union Trus
Building. and has been deeply interest
ed in the enlarged project now SO IA
advanced.
Bank Stocks Feature Exchange.
An unusual number of transfers O
single share Of bank stock feature
the local market today. One share Q
Riggs. Second National, Union Trus
washington Loan & Trust, Nations
Savings 81 Trust. District National, Ma
tional Metropolitan, American Securit
G Trust. and Commercial Nations
was recorded. Larger amounts ais
appeared on the board.
Trading was fairly active In IN
utility stocks at recent levels. tn
bond trading was confined TO Wash
ington Gas 6s and Washington Rail
way a. Electric As.
Rarr Resigns Bank Position.
In order 10 accept position a tn
office Of the Supreme Court Of th
United States. Hugh w. Barr, execu
tive vice president Of the Internationa
Exchange Bank. has resigned his posi-
ton, according 10 an announcement
which he made al the bankers weekl
luncheon yesterday. Mr., Barr vent I
the International Exchange Bank wbe
Joseph Schiavone was president an
has been there about two years.
He has long been connected with tn
banking interests Ia Washington, hat
ing for some years been treasurer {
the Continental Trust Co. He was !
Philadelphia during the exposition
acting as one 0f the auditors. Mr.. Bar
has shown much interest In the Dis
trict Bankers Association and attende
the last convention at Montauk, l..
Lincoln Company Dividend.
At recent meeting Of the board
directors Of the Lincoln Inyestmen
Corporation held at the Offices Of Il
company IA the American Building
was voted that the regular quarter
dividend Of ~ per cent on the pr
ferred .sock outstanding as 0f Jun
80 be paid on the that date 10 stool
holders Of record.
Bond Clubs Annual Meeting.
The annual meeting of the Wasl
ington Bond Club will take place Z
morrow at the home Of Carroll Morga
Quincy street, Chevy Chase. III
business session will be called Ia ord
az 4.30 in the afternoon after the clio
ri all security markets, 50 that all men
hers can attend The retiring pres
dent Is Winslow -. van DeVanter, loe
representative of the Guaranty CO II
meeting for tbs election If officers b
taken place III Mr. M0rgan's home eY
since the club WaA organized.