Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-09-01

months of last year:
February ........... los 6s4 90 i03,4S5, SS4
March ............. 13l,795,928 122,284. 800
april ............... 129, 300, 052 120,019, 1856
WAY '''..'.......... lZ6, 836, 1913 123,796,4 02
June ............... 124038,347 126, $50, 689
ADJUST a'S l 1Hs5sS155 i 15sSas 81
Total ............ s992,O9s,l 1873 $685., Ass, 1897
Further Gain Expected.
With the coming Of Labor day, con-
sidered as kind of turning post into
Autumn, financial circles are expect
ing a pickup in business generally.
Several indicators have pointed to a
Summer slightly better than usual.
Bank clearings, reports of the city's
public utilities and activity on the
Washington Stock Exchange have ell
been pointed to by observers as criterions
OF slightly more active Summer, eS-
pecially July and August. Some ex-
perts are expecting quite pickup in
Washington shortly after Labor day,
while others believe it will be we'll into
october before any material increase
can be noted.
Labor day in many financial insti-
tutions is the end Of the vacation period,
and a number of banking officials are
returning to the city after sojourning
elsewhere. An interesting feature of
financial personnel vacations this year
has been the increasing number who
remained in Washington to enjoy the
entertainment facilities of their own
city.
Utilities Reports.
The Potomac Electric Power Co. and
the Washington Railway & Electric Co.
both show gains In net income during
July, 1929, as compared to July of a
year ago, although they also both show
a seasonal falling off from June of this
year.
Net income of the Potomac Electric
Power Co. rose from $275, 528.91 in July,
1928, to s278,659.38 in July, 1929, a
gain of $3,130.47. as compared to net
income of S312,425.50 for June, 1929.
The company shows a substantial
increase of $225, 86813 in net income
for the first seven months of the year
net income for the first seven months
of 1928 being $2,125, 1894, as COM
pared to 1851 ,454.57 for the first seven
months of 1929.
Net earnings of operation increased
from $402,024.17 for July, 1928, to
$413,822.88 for July, 1929, an increase
of $11, 1871: while operating expenses
also increased from $318, 727.44 for July
1928, to $349,885.43 for July, 1929, a
gain Of $31,157.99.
Net income for the Washington
Railway g. Electric Co. for July, 1929,
was $29, 928.43, an increase of SIS, 48070
from July year ago, but decrease of
$358.86 from June, 1929.
A. i. B. Year Book.
The year book of Washington Chap
ter, American Institute of Banking, was
distributed yesterday and became the
subject of much favorable comment.
The publication, Dollars and Sense, is
illustrated
and gives an interesting and adequate
record of the year of the local chapter,
with pictures of officers and graduates.
The book of II pages is dedicated to
past presidents of the chapter. 1t opens
with Sepia-tone views of washington,
pictures Of the national and local of
ficers of the institute. The class of
Honesty, Integrity, Responsibility"
Articles in the year book are by A.
E. Henze, president of the chapter;
James A. Soper, past president; w. j.
Waller, president of the District of
Columbia Bankers Association; Robert
v. Fleming, past president, District
OF Columbia Bankers Association;
Henry H. Mckee, chairman of the Dis
trict of Columbia Clearing House As
views of the various activities of the
chapter during the year including ath-
letic, and the prize-winning essay on
methods by Which Bank May Best
Protect Itself Against Fraud" by
Katherine M. Krieg of Riggs National
Bank
Aubrey O. Dooley, assistant trust Off
Ger of the Federal-American Bank, is
editor in chief of the year book, and
was assisted by a staff consisting of
Robert G. Whitton, j. Fred English,
Catherine M. Krieg, Mabel v. Royce,
editors; Raymond D. Lewis, business
manager, and Robert E. Lee, assistant
business manager.
Branch Bank Opening.
All Is in readiness for the opening
next Wednesday of the Water street
branch of the National Bank of Wash
angton, according to George L. Starkey
president of the bank The branch
has been completely equipped and all
furnishings are now in place. The
branch will be in charge of Edwin H.
Graham, cashier, who has been with
the bank for many years. Following
1923 Water street, Mr.. and Mrs. Starkey
on Thursday will start on a motor
trip to New England.
Bankers Meeting.
The District of Columbia Bankers
Association will hold its first regular
meeting of the year as an evening ses-
sion at the Willard Hotel Monday. Oc-
tober 81, it was decided by the council
of administration of the association,
presided over by w. J. Waller, presi-
dent of the association.
Heard in Financial District.
e. j. Stellwagen, president of the
Union Trust Co., has returned from a
two months vacation at Poland Springs,
Me.
Francis G. Addison, vice president Of
Security Savings g. Commercial Bank,
will return Tuesday from a To-day va
cation at Rehoboth Beach, Del.
B. G. Dent, assistant cashier of Riggs
National Bank, will return Tuesday
from vacation.
r. Golden Donaldson, president of
Commercial National Bank, will return
Tuesday from a motor trip into New
York and Pennsylvania.
wade H. Coooer, president OF the
Continental Trust Co., Is returning this
week from vacation in Maine ana
Massachusetts.
C. j. Gockeler, vice president Of the
District National Bank, will be back
Tuesday from Margate City, N. j.,
where he enjoyed an extended vacation.
John D. Cochran, president OF the
Franklin National Bank, is spending
the Labor day holidays at his old home
at Staunton, Va.
Maurice D. Rosenberg, president Of
the Bank Of Commerce & Savings, Is
returning Tuesday from months va
cation at Racquet Lake, N. Y.
c. D. Radcliffe, vice president OF the
Munsey Trust Co., Is leaving Tor
vacation at Atlantic City.
Maynard Magruder, vice president OF