Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-28

since the new fares %z i2S
were adopted. VA n
Operating rev.
enues in october James M. Johnston
totaled $496, 160.04,
against $495, 220.60 in the same month
last year; operating expenses amounted
to $41165534 compared with S6O4,-
92797, leaving total operating income
OF $84, 5O4.70, against $88,292.63 in the
corresponding period last year.
During October the corporation had
a incorporating income OF $220Ol .S3,
compared with $24,295.26 a year ago.
Gross income totaled $106,506.52. in
comparison with SIP $3.50. The usual
deductions amounted to SIS ,674.28, COM
pared with $57,85210 last year.
Ten Months Income Reported.
The report to the commission for the
first 10 months of the present year
shows Railway g. Electric operating rev.
e1ues of 4,587,576.32, In comparison
with 81, 807, 431.73 last year. Operating
expenses required $3,908, $3.50, against
$4,029 ,362.l3 in the corresponding
period q year ago.
Operating income to November this
year totaled $678, 992 SO, compared with
sits, 069. go last year. Incorporating in
come reached the sum of $l,297 ,51013,
against 81 ,224 1881 a year ago. Gross
income totaled 81 1916, SOFIA, compared
with $4,000 ,3834l in the first 10 months
Of 1929.
The usual deductions to meet interest
and all other requirements took $685.
9l340 against $500 ,822.95 last year
This left a net income for the 10-month
period amounting to $l,410, 589.64 in
comparison with the lower figure,
1892 ,56046 in the same period In 1929.
Second Term as Treasurer.
James NJ. Johnston, who was re-
elected treasurer of the Washington
Stock Exchange at the recent annual
meeting, is entering on his second term
in this Office, having put on the toga
laid down by Lawrence A. Slaughter,
vice president of the Commercial Ma
tional Bank, year ago. Mr.. Johnston
Is one Of the most regular attendants
at the exchange sessions, and Is a men,
Der of James M. Johnston g. Co., an
investment banking firm In the Shore
ham Building.
The exchange treasurer is a director
in the Liberty National Bank and In the
Federal Storage Co.; also vice president
and treasurer of the same corporation
He is a graduate of the University of
Illinois, and during the World War was
pursuit pilot in the A. z. F. Army Air
. Service. Mr.. Johnston is a member of
the Columbia Country Club and others,
and Is member of the stock exchange
board Of governors as well as treasurer.
A. b. A. 'OfIiciaI Visits City.
y. s. Wolfe, president of the First
National Bank of Bridgeport, Conn.
is q visitor In the financial district.
Mr.. Wolfe, former Washington banker
and newspaper man before he en-
tered finance, is president Of the ma
no dfNffci Of
Bankers Association, having been
elected to the Office at the Cleveland
convention.
He already has an excellent start on
the work of his division for the pres
ent year. Mr.. Wolfe held an important
conference today with T. E. Mountjoy,
who is the national associations repre-
sentative in this city, handling prac-
tlcaliy all matters that come Up be-
tween the Nations bankers and the
various departments OF the Govern
ment.
MIR. Wolfe Is one of the most en-.
thusiastic members of the American
Bankers Association, has served on
many important committees and takes
an optimistic view of the business out
look.
Big Railroads Report Earnings.
Southern Railway first 10-month net
$3.74 a common share, against $lO4S
"a share in like 1929 period.
Pennsylvania Railroad October net
operating income, $9,742,575, against
$15,002, 100 in October, 1929; 10 months,
$S1,e72, 600, against 1922, 308,473.
Net profit of Arundel Corporation for
10 months ended october 81, 1880, was
$2,290,9 1894, after depreciation, taxes.
ETC., comparing with 1892, 72l in first
10 months of 1929.
The Chesapeake g. Ohio Railway Co.
has declared the regular quarterly
dividend OF b2 u cents on common stock,
payable January ! to stock of record
December 8. The Chesapeake Corpora
ton has declared the regular quar-
terly dividend of rs cents on common.
payable on the same date
Stocks Firm on Local Board.
Local securities were steady on the
Washington Stock Exchange today after
yesterdays holiday. Mergenthaler Limo
type showed fractional gain in sale
at 90. Capital Traction moved at 491k,
up half point Washington Railway
81 Electric preferred came out at 1884,
on 25-share turnover, a fractional
gain. Twenty shares Of Potomac Elec-
trio Power 51a per cent preferred came
out at l07la ex-dividend.
Two bank stocks appeared on the
board. Riggs National sold at $50 and
American Security g. Trust Co. at 355
Both were very small sales
In the unlisted department, five small
lots Of Chapin-Sacks per cent pre-.
ferred changed hands at lot. Five
y stocks on the local board are now being
quoted x-dividend-the Potomac Power
issues, Railway g. Electric common and
preferred and Lanston Monotype.
Heard in Financial District.
The safe deposit section Of the Dis
trict Bankers Association met early
this week, Chairman F. H. Cox pre-
siding. Interesting routine problems
were discussed
The Westinghouse Electric g. Manu-
featuring Co. has been awarded a con-
tract for 80 visual type radio beacon
transmitters and accessories at a cost
of $268,453, for installation on Federal
airways by the aeronautical branch of
the Department of Commerce.
President Bertram Chesterman of the
Morris Plan Bank was back at his desk
. today after several weeks cruise in the
? West Indies.
z. II. H. Simmons of E. H. H. Sim
mons g. Co. and former president of the
New York Stock Exchange, has been
elected chairman of the advisory coun-
ell of the investors section Of the Bet
ter Business Bureau of New York City,
Inc.
Mr.. Simmons succeeds David F. Hous-
ton, who retires from the council after
more than eight years of service He
was one of the founders of the bureau
and its first president