Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-07-31

barometer all these figures indicate
that trade has held up remarkably well
in Washington, the heavy cheek turn
over in the banks indicating unmistak-
able mercantile activity and growth.
Clearings in the Capital for the first
seven months of the present year are
equally interesting The total for this
period amounts to 378,545, 6l9.05 while
clear!ngs for the same period in 1928
were 1925 209 99382.
These figures reveal an increase in
clearings so far in 1929 of $50, 1886, 625 %.
With only normal business during the
remainder of the year, clear1ngs in
Washington are certain to hang up
new record, which will be highly graft
fving to the city's banking and business
interests.
New Norfolk Steamboat Official.
At a meeting of the board of directors
of the Norfolk & Washington. Steam
boat Co. held yesterday afternoon,
Gustave w Forsberg was elected second
vice president of the company.
Mr. ForsbaXg has been identified with
steamboat companies for about IS years
During a part of that time he was
treasurer and later became president OF
the Washington & Colonial Beach
Steamboat Co. He is at present vice
president and treasurer Of the Terminal
this city, and has for many years been
director in the National Bank of
Washington and in the Park Savings
Bank.
He has also been a director for a
number of years in the Norfolk & Wash
ington Steamboat Co., in which he now
becomes an important official. He was
close personal friend of John Callahan,
first general manager of the company.
In the opinion of the other directors his
past experience makes him particularly
we'll qualified to fill the position to
which he has been elected.
The Norfolk g. Washington Steam
boat Co. is reported as doing an excel
lent business. The new Chamberlain
Vanderbilt Hotel at Old Point Comfort,
which has taken the place of the famous
old hosiery that was burned many years
ago. has been an important factor in
boosting earnings. The stock sells on
the Washington Stock Exchange around
300 a share.
Capital Traction Earnings Of.
Monthly and semi-annual declines
in net income are shown in the report
of the Capital Traction Co. for June
filed with the Public Utilities Commits
sion. Net income of the company for
June was S4909792, a decrease of
S15.71637 from the preceding month
and one of S1,454.67 under June Of
1928 Net income for the year to date.
$3.50 29S50, is also $30,25382 under
that for the first half of 1928.
Operating revenues for June were
$3.50 ,59428, as against 1889, 304.72 for
May. and operating expenses $685.
072.76, in comparison with S263,059.94
in May. Taxes for the month were
S27,40608, as compared with $32,076.65
for the month prior. Gross income
for June was $82 42072. and that for
May, s94,72796. The total of revenue
passengers carried in June was Alta
627, while that for May was 5,072, 291.
s127.o5O Phone Outlay Voted.
The board of directors of the Chesa-
peake & Potomac Telephone Co., yes
terday authorized betterments to the
telephone system in the District of
Columbia involving expenditures of
s127,o50. bringing the total amount ap-
propriated for such work so far this
year to s1,483915.
The facilities to be provided under
this appropriation include underground
conduit and cable extensions in the
North Potomac, Decatur, Georgia. Met
ropolitan, District, National and Lin
coin central Office areas and rearrange-
ments of equipment in downtown tele-
phone central Office buildings.
Railway Common Sells at $50.
One share of Washington Railway
&; Electric common sold on the WASH
1ngton Stock Exchange today at $3.50,
new all-time high mark in this issue.
This is the stock for which five shares
of North American stock have been
offered in exchange for one of the local
security. The recent sharp rise in North
American stock on the New York Ex-
change has increased the values of
Washington Railway common, recently
forcing the bid price on railway COM
mon up 100 points and resulting in to-
days climax sale.
Trading in other issues on the local
exchange today was quiet, being large
1y confined to small lots. Both stocks
and bonds sold around recent levels.
In and Out Of the Local Banks.
George l.. Starkey, president of the
National Bank Of Washington, accom-
panied by Mrs. Starkey, left the city
today for short visit at Atlantic City.
Howard Moran, vice president of the
American Security g. Trust Co., has re-
turned from a months vacation and
President Corcoran Thorn has started
on his trip to Europe.
Frank w. Stone, vice president of the
National Savings g. Trust Co., has re-
turned from months vacation passed
George. Secretary E. P. Wilson starts
on his vacation August /.
Clarence F. Norment, head of the
Norfolk & washington Steamboat Co..
came over from Atlantic City to attend
the directors meeting. He has fully
recovered from his recent illness.
Edwin G. Brandenburg, trust Officer
is leaving Washington for six-week
vacation at Baileys Island, near Port
land, Me.
Robert c. Jones, one of the managers
of Murphy & Co., is booked for q
weeks vacation at Virginia Beach.
William M. Feay, Office manager Of
the Federal-American Co., has returned
from a wedding trip, his bride being
Ella M. williams, formerly in the trust
department of the Federal-Amerlcar
National Bank.
McElroy Moss, co-manager OF the
lgcal Office of Harriss & Vose, is taking
q two weeks vacation trip to Canada.
Frank p Morse, resident partner
j. g. w. Seligman 8, Co., has returned
Ito his Office after being confined to his
home with severe cold.
: A. S. Galley, executive vice president
of the Lincoln National Bank and
treasurer of the District of Columbia
Bankers Association, has left for two
weeks vacation.
Charles E. Howe. treasurer of the
Federal-American National Bank, leaves
for his annual vacation at Mif1intown
Pa. tomorrow.
The Federal-American Col has moved
its Offices from the street level In thu
bank building to the mezzannine
where ample space was available.