Evening star., 1929-06-26

Of s5,7sI.77 over
the month in 1928.
Those thus far for
the year were S2.-
603, ,597.78. present
ing an increase of J. Damn Faber.
62185.15 above the first five months
of 1928.
The company sold 535. 1928, SOC cubic
feet of gas during the month, or 1885,
l02 more than in the month year ago,
and 1851, 112, ,724 for the year to date,
an increase of lot ,229, ,239 over the COM
parative period last year.
1. There were SAL ,367 700 cubic feet of
gas manufactured during the month,
this being 585 800 more than in May,
1928. and gas manufacture for the year
thus far, 2,917, ,o46, 800 cubic feet is
1904, 400 in excess of the correspond
ing period for 1928.
Georgetown Earnings Also Up.
The net corporate income of the
GEORGETOWN Gas Light Co. for May was
SIS, 9,632.T2. or $7.0B9.06 more than in
NAV, 1928. and the total for the year
to date. S78,378.o6, represents gain OF
$i9.551i8 over the same months In
1898.
Operating income for the month was
$23,3l6.35, an advance of $7.49l. .55 over
May. 1923. and the total for the year to
date is $97. .370.93, or $40 ,50306 above
the total for the period year ago.
American Ice Net Higher.
Net earnings of American Ice Co. and
subsidiaries for May, after interest but
before Federal taxes and depreciation,
we're 1921 ,358 This compares with net
of s404,f11 in May, 1928, a gain Of over
20 per cent.
The company's net for the first five
eff
before Federal taxes and depreciation,
was $1,201, ,128, which compares with
906, ,17g for this period last year, q gain
Of over 80 per cent.
Building Association Officers.
The Kenilworth Building q Loan As
sociation has elected these ofilcers:
Charles A. Appleby, president; Samuel
K. Murphy, vice president; John 8.
Shipley, secretary. Directors: George
j. Baur, Joseph Brashears, I. d. WISE
man, ]. ]. Miller and r. L. Jennings.
Commercial Raises Dividend.
The Commercial Bank has increased
the regular dividend from 6 to 8 per
cent according to announcement by
President r. Golden Donaldson. In adj
dition to this dividend advance, the di-
rectcrs have also declared an extra OF
per cent, the action being prompted
by present prosperous business condi-
tions Both the regular and the extra
are payable on July !.
Lauck Joins Investment Trust.
The election Of w. Jett Lauck. econ
cnnist, as a director of the Investment
Corporation of North America, was an
nounced today In addition to Mr..
Lauck's new duties, he viii remain
chairman OF the advisory council of
the Bureau of Applied Economics, an
independent scientific, statistical and
research organization which has its
main Office IN Washington.
Mr.. Lauck, as professor of economics
at washington and Lee University and
later as director of industrial inyestiga-
tions for the u. S. Immigration COM
mission under President Roosevelt, pre-
pared himself for the greater RESPONSE
bility OF chief examiner of the Tariff
Board created by President Taft and
managing economist of the Commission
on Industrial Relations under President
Wilson. During the war; Mr.. Lauck
was secretary of the National War
Labor Board, of which Chief Justice
Taft was chairman.
Mr. Lauck was active in the fight to
obtain a central banking system which
resulted in the establishment of the
wide experiences in the money and
banking field.
Among other directors of this local
investment trust are william M. Jar
dine. former Secretary of Agriculture,
chairman, and Rolfe E. Boiling presi-
dent Of the Merchants Bank & Trust
Co.
Prices of commodities declined four
tenths Of per cent during the week
ended June %, according to the whole
sale price index of the National Fertil-
izer Association. This decline is two
thirds of the advance of the previous
week, and the decline was rather gem
eral The largest declines occurred in
fertilizer materials, feeds, live stock,
foods, fuel and textiles. There were 81
declines and "a advances.
Heard in Financial District.
J. Damn Faber will preside at the
final meeting Of the year of the audi
tors section of the District of Columbia
Bankers Association, tomorrow night,
at Olney Inn. AS the sections first
chairman. Mr.. Faber has done most
commendable work in placing the new
organization on solid foundation.
There was a large attendance at the
meeting of the bankers luncheon group
at the Willard today, when Wilmer j.
Waller presided for the first time as
president of the District of Columbia
Bankers Association. It is quite prob
able that the new president will follow
the example of Past President Robert
v. Fleming and appoint some of the
leading standing committees in the near
future
The board of directors of the National
Bank of Washington, at its regular
meeting today, declared the usual semi
annual dividend of per cent. payable
T..1~ a. rA~ ~afrl4 4<xl< 8 1t TNrv4
20, according to announcement by the
president, George l.. Starkey.
Norfolk g. Western May surplus
after taxes and charges, 1862 ,896
against $2,554,I11 in May, 1928; regn-
lar quarterly dividends declared on
common and adjustment preferred.
Exchange Trading Improves.
There were several good-sized trans
actions on the local Stock Exchange to-
day, among them being 50-shart
block of Mergenthaler Linotype which
sold ex dividend at los, and 50-shar,
block of Security Storage which
changed hands at 119.
Railway & Electric preferred sold to
day at 96; 80 shares of Merchant
Transfer & Storage came out at 10TH
ard 100 shares of Barber 81 Ross com
mon sold at 10, the same figure a
which 100-silare block changed hand
at yesterday. National Mortgage & In
vestment preferred sold at az, an,
$50 shares of Real Estate Mortgage a
Guaranty preferred came out at rs
Twenty-Five shares Of Chevy Chas
Dairy preferred registered 106. Poto
mac Electric 5is per cent preferrel
moved at 1861, the per cent pre-
ferred registered itill and an odd lc
Of Federal American Co. conmo
brought Al.
Bonds were again in fair demand
Ths largest bond transactions wa