Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-02-28

Deduction of ex-
penses left net
earnings from CT. Norment.
operations of $780,
742.06, against $5o3,344. in the same
month a year ago, an increase OF $751;
1885, Miscellaneous income amounted
to $S,663.08, against the higher inquire
last year OF $10,355.4l.
The company reported gross income
after deduction of expenses amounting
to 1853 ,404 IA, compared with $5l3,699.9l
last year. gain of SIS, 705.23. Other
deductions from income totaled $780,
954.76, against $l7l 1852.
w. r.. 4 E. January Net Lower.
The washington Railway g. Electric
Co. reported a net income for January
of $28,30064 in comparison with
$45, 485 .08 last year.
Operating revenues amounted to
$484,878.46, against S497,875.48 last
year: expenses and taxes totaled $4l2,-
945.68, compared with S405, 26l "a, leav-
ing a net income from operations Of
ST. 1892 10, compared with S92,6l4.l4 a
year ago.
Incorporating income totaled $2l,-
1854. against s17,857.10 in January,
1928. Gross income, less operating
expenses and taxes, amounted to $685.
1879. against sl10,47124 last year.
Other deductions from gross income
tota,ed $6541755, against $64,986.l6 a
year ago. The figures show that fall
ing off In passenger traffic was the main
reason for the lower net earnings dur
ing the month.
February Bank Ciearings Gain.
February bank clearings reported to-
day by the Washington Clearing House
Association revealed substantial ad-
vance over last year. The months
clearings were s109 ,649, 040.44 in COM
parison with sl03, 495, 524.49 in February,
1928 a gain of well over $4,000. 900, 900.
Clearings in January amounted to
Sl29 438 Pei 81, against total OF STA
408, 1892 go in the corresponding month
In the previous year. From these
figures 1t will be noted that both months
have scored such excellent gains that
business in the Capital must be better
than 1t was at the same time last year.
New Corporation Announced.
Financial Washington will be inter-
ested in the announcement which ap-
pears today of the formation OF new
corpora sion In the investment securities
field. under the name Of Waggaman,
Bradner & Co., Inc, an organization
which will take over the securities de-
partment of Waggaman e. Brawner, Inc
The officers of the new corporation
are Mai. Ennalls Waggaman, presi-
dent; Floyd p. Waggaman, vice presi-
dent; Frank B., Pryor, vice president
and general manager; T. c. Mont
gomery, vice president and syndicate
manager; John r. Brawner. secretary,
and w. Eben Burnside, treasurer. The
corporation will continue the policy OF
participation in the issues Of bonds,
mated by well-known houses OF New
York, Philadelphia and Chicago. and
will be under the same management at
the same location, 100 street.
Messrs. Pryor and Montgomery, who
have become vice presidents OF the new
corporation. have heretofore been man
ayers of the securities department Of
Waggaman & Brawner, Incorporated.
Others connected with the organiza-
ton are Frank j. Rapee, John T. Pei
ton, George E. Croswell, jr.; George F..
Cramer and Francis c. Jameson.
John F. Brawner, who Is the son
Gently been elected vice president of
Waggaman & Brawner, Incorporated, Of
which his father had been for many
years president.
Norment Retains Many Activities.
Clarence F. Norment ST., who recently
resigned as president of the Norfolk &
Washington Steamboat Co.. has been
prominent in Washington's financial
district for many years. He Is chairman
of the board Of directors of the National
Bank of washington and for years was
the banks president His first execu-
tive position in local banking circles
was as president Of the old Central
National Bank, which duties he assumed
in 1895.
While Mr. Norment resigned from the
steamboat company presidency to
tighten his business responsibilities, he
remains a director and is still serving
as director In the American Security &,
Trust Co. and the Washington Railway
g. Electric Co., and holds membership
in the Washington Stock Exchange.
Mr.. Norment is member of the
Metropolitan Club, Chevy Chase Club
Columbia Historical Society and the
Mergenthaler at New High.
Mergenthaler Linotype sold at a new
high mark on the Washington Stock
Exchange today. It opened at 108 and
closed at 1922 on an 80-share turnover
Capital Traction sold to the extent OF
80 shares at 1851. Railway 6, Electric
preferred moved at 99l2.
Terminal Refrigerating & Warehous-
ing Corporation was again strong
climbing to 81 on small turnover
Other issues maintained recent prices
There were several transactions in bonds
at present levels.
Leaves Mortgage Company.
Fernand Petit, vice president and resi-
dent manager of the Mortgage Securities
Corporation of America, has resigned
his position on account OF protracteo
illness. He has been with the Arm since
1t moved its head office here from Nor.
folk. The company has recently trans
ferred its main Office to New York. Mr.
Petit, who underwent serious operation
several weeks ago, is making a SLOW
but steady recovery.
Bond Club Has Fine Meeting.
The Washington Bond Club had &
very largely attended meeting yester.
day at the Carlton, John j. O'Connor
manager of the finance department o.
the United States Chamber Of Com
merce, was the chief speaker, his sub
Ject being Credit and the Stool
Market"
Harry w. Riehl, manager of the st
Louis Better Business Bureau, alst
spoke briefly. Kenneth s.. Wales pre-
sided.
CHICAG0 DAIRY MARKET