Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-27
c. & P. PHONE NET
OFF IN SEPTEMBER
Building and Loan Concerns
Prosper-Heavg Trading
on D. c. Exchange.
BY EDWARD C. STONE.

&c Net operating income of the CheSa-
peake a. Potomac Telephone Co. in
September decreased $13.804 from the
same month last year, the report of
operations just filed with the Public
Utilities Commission of the District Of
Columbia shows. Operating income for
the nine months ending September 80
amounted to $939021, a decrease of
$169,53l over the same period last year
Telephone operating revenues for
September were $664,497, with operating
expenses of $491, 287, making net reve-
nues $173,210. For the same month
last year the net revenues were $108,-
97l. For the nine months ending Sep
TENDER 80 the operating revenues were
$6,182,528, with expenses $4,560,220,
making net operating revenues 81 622,-
308. For the nine months last year net
revenues amounted to $1,775,220.
Taxes and uncollectibles, during the
month of September amounted to
$46,679, which was an increase of $3,776
over the same month last year. For
the nine months of this year taxes
amounted to $446.278.
Net additions to outside plant and
central Office equipment added to the
system in the District of Columbia for
the first nine months of this year
amounted to $2,923,516. The gross adj
ditions for this period were $3,897, SAT.
For the IL months ending September
80, net additions to plant amounted to
$3,471 1885. There have been 6,042 tele-
phones added to the system here since
January /. On September 80 there
were 156,402 telephones in operation in
washington.
The telephone total net income for
September was $l02,342 in comparison
with $116,146 in September, 1928. Total
net income for the first nine months Of
the present year was reported as $685.
021. against the higher figure last year
Of $l,108,552.
EdmundS Pere Marquette Agent.
James B. Edmunds, general agent of
the Chesapeake & Ohio Railway in
this city since October /, 1920, has just
been appointed general agent of the
Pere Marquette Railway Co., and will
hold the two positions concurrently.
The appointment will be of wide inter-
est to local bankers, who are well &C
Quainted with Mr.. Edmunds, who took
such splendid care of the members of
the District Bankers Association and
their guests at the last conventions
held at Hot Springs, Va, and White
Sulphur, w. Va. He arranged all the
train accommodations for the trips and
was always at the service of the flnan-
ciers throughout the convention ses-
aions.
Mr.. Edmunds is a native of Wash |
ington and was educated in the public |
schools, graduating from Business High !
School in 1904. His railroad service |
extends back to 1907. when he entered |
the employ Of the Chesapeake & Ohio |
Railway Co. as secretary to the late !
Harry W. Fuller, passenger traffic man
ager.
In october, 1911, he was transferred |
TO Cincinnati and later to Richmond |
as secretary to F.. M. Whitaker, vice |
president in charge of traffic. In 1914 |
IL was appointed secretary to George |
w Stevens. then president OF the !
Chesapeake & Ohio system. Mr.. Ed
munds retained this position until Sep +,
tember, 1918. when he was appointed !
inspector of passenger train service.
!, During the World War he was fur
lough-d by President Stevens for duty
with the Government Fuel Administra-
ton in charge of the distribution OF
coal and coke, and in March, 1920 was
named a member of the car allotment
commission with headquarters at Hunt
ington, w. Va.
Mr.. Edmunds is active in civic af-
fairs, first vice president of the Kiwanis |
Club, member of the Board of Trade, |
City Club and Beaver Dam Country |
Club.
Building Associations Booming.
At the annual meeting of the District |
of Columbia Council of Building &
Loan Associations Friday night the re-
firing president, James M. woodward, |
made his annual report, and William S:
Quinter, secretary, made his annual
report, showing that there are % aSso-
Citations with total membership OF about |
81 ~
the gain in membership for the year |
being about 5000, and the gain In as
sets being over 100000.
C. Clinton James, chairman Of the |
Federal Legislative committee OF the |
United States Building and Loan !
League, gave brief review OF building |
and loan taxation and legislation as 1t |
affects building and loan associations |
and gave an account of the recent |
meeting of the board of directors of the |
United States Building and Loan |
League which he attended recently at |
Grand Rapids, Mich. The next con- !
vention of the league will be held in |
Grand Rapids on July %, 20 and 80, |
1880.
A committee was appointed to pre-
pare suitable resolutions on the death |
of Albert Schulties.
ID. C. Exchange Remains Active.
Yesterdays session of the Washing |
ton Stock Exchange was one of the |
busiest Saturday meetings in months. !
Trading opened with bond transactions. |
Capital Traction SIS sold at 81 "a, CheSa-
peake g. Potomac Telephone of Viz !
ginia SIS at 1902, Washington Gas SIS |
at 81, Gas IS, series A, at 104l2, and |
the series B bonds at 102. Washington |
Railway & Electric Is came out at 80l2. |
The first stock sale was in Capital |
Traction which changed hands on light |
sales at new low Of 80 after opening |
at 1912. Potomac Electric Power sic |
per cent preferred sold at los and
Washington Railway & Electric pre- |
ferred moved at 96, 96ls and 96H. !
Fifty shares of Columbia Title Els. Co. |
at 10 while Chevy Chase Dairy pre-
ferred came out at 103.
Merchants Transfer g. Storage COM
mon registered lis. Mergenthaler |
opened at 103% and closed at 104 on |
Norfolk & Washington Steamboat Co |
sold at $50 and there were small sales |
in several other local issues.
Bank stocks figured in the days |
sales. Two 10-share lots of Riggs Ma |
tional changed hands at 800 and 10 |
more at 500. 1t was the first time this |
issue has been under 800 in a long
time. Thirty shares of Merchants |
Bank & Trust Co. sold at $50.
., Heard in Financial District.
1t was reported at Fridays meeting |
Of the directors of the Terminal Re- |
frigerating g. Warehousing Corpora
ton that the company paid a special |
tribute to the late Charles J. Bell on !
the day of the funeral. On instructions |
from the president, Wrisley Brown, all |
machinery of the major and subsidiary |
plants of the company were brought |
TO full stop at pm. for period |
Of minutes and all employees stood at