Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-23

with Sl48, re in June, 1890.
Telephone operating revenues FOR the
six months ending June 80. amounted
to $4,6l0,l36, as compared with S4,339,-
876 for the same period last year. Iotal
operating income after deducting taxes
and uncollectable, for the first SIX
months of this year amounted to ST.
134,676 as compared with $855,709 for
the first six months of 1880.
Taxes in June were $55 1885, as COM
pared with $48,247 for the same month
last year. Taxes for the first six months
an increase of $47,7l9 over similar
period in 1890
Capital expenditures for new plant
and equipment added to the company's
system in the District OF Columbia for
the six months ending June 80,
amounted to $1,05O,9 1896. Gross retire
ments during this period were $6l6, S4l :,
making net additions $434.554. Net
additions to plant for the II months
ending June 80 were 1902 $50.
At the close of business June 30,
Washington was served by 172, 487 tele-
phones, 4007 having been added to
the system during the first six months
of the year. In June telephone users
in the District made IL, 453 500 calls
which was an increase of 10.7 per cent
over the calls made in June of last
year.
Fleming Joins Acacia Board.
Robert v. Fleming, president of the
Riggs National Bank, was elected
director of the Acacia Mutual Life AS
ISOLATION at a meeting OF the board
held yesterday afternoon. Howard W..
Kacy. an attorney and general counsel
for the association, was also added to
the directorate.
Mr.. Fleming is already a director in
large number of other important
financial institutions. Mr.. kacy was
only recently elected the companys
general counsel and is one OF the
youngest attorneys in the United States
to hold position of this kind with
big insurance firm.
President Montgomery told the board
that he believed the steady increase in
the company's business so far this year
indicates real improvement in general
business conditions all over the coun-
try. He presented monthly figures to
back up his contention, and also stated
that lapseS have been growing smaller
and that fewer loans have been made
on policies. At the same time the COM
pany's assets have gained S3,00O,OOO in
the past six months.
June reports to the head Office here
showed $4,000 900 in new insurance
written during the month. The COM
pany has maintained its staff without
reduction during the first half year,
President Montgomery believing that
the results have justified this policy.
Aside from the two new members. the
board is now composed of these men,
bers:
w. L. Andrews, Charles E. Baldwin,
Harry Blake, D. Rufus Cheney, c. c.
CoombS, w. K. Cowden. Paul B. Creme
lin, j. Harry Cunningham, L. Whiting
Estes E. G. Graham, James c. Hoyle,
Thomas E. FARRELL, J. Claude KEEPER,
Arthur D. Marks, John T. Meany, Jo-
DR.. ]. B. Nichols Charles F. Roberts,
H. L. Rust, jr; L. P. Steuart, E. E.
Thompson, E. Lee Trinkle, F.. D.
Winston and J. P. Yort.
American Ice EnIarges Field.
A special engineering department to
develop and handle business in the
growing field of air conditioning and
cooling of public and private buildings,
has been formed by the American Ice
Goa which also announces that it will
set up model conditioning plants for
various types of buildings in the larger
cities in which it operates, so that en-
gineers can make observations OF cost
and other operating details.
This is part of a comprehensive cam
paign which the company is under
cations which convinced officials that
the air conditioning field is due to be-
come a major industrial development
during the next decade and create a
substantial outlet for manufactured ice
The new engineering department will
be under the direction of George LANCE,
vice president in charge of engineering
and will provide technical advice to
prospective users of air conditioning
equipment.
The company reports that it has al
ready closed contracts with several large
theaters in New York and Philadelphia
for ice supplies to be used in their air
conditioning equipment.
Lively Day on d. c. Exchange.
Trading was unusually good on the
Washington Stock Exchange today, con-
Sidering the time of year.
The market opened with 10 shares Of
Capital Traction selling at AZ, off a
point from its recent high, this sale be-
ing followed by six-share transfer at
4l%
Potomac Electric Power 512 per cent
preferred then came to the front OPEN
ing with a 30-Share sale at Ill X. The
days sales included two 50-share blocks
at the same price, the total turnover
reaching 100 shares.
The same corporations per cent pre-
ferred figured in small lots sales at
1875 and 113. Washington Railway &
Electric preferred came out at 100 on
four 10-share sales.
Sixty shares of Federal American Co.
common sold at 211a, Mergenthaler
Linotype moved at 1872, and 80 shares
of Real Estate Mortgage & Guaranty
preferred appeared On the board at 6l2.
After call, Mergenthaler advanced
1872 to 7824 on small sales. The final
stock sale was in Columbia Sand &
Gravel preferred at 81. Bonds were
very quiet, the only sale being in Wash
ington Gas IS, series B, at 106.
Local stocks new quoted ex-dividends
include Washington Gas Light Ma
tional Savings & Trust Bank stock and
Corcoran Insurance.
Heard I'm Financial District.
Rolfe E. Boiling. manager of the
branch of the Federal-American Ma
tional Bank & Trust Co. at Fifteenth
and II street, Is taking his annual vaca-
ton, spending a part of the time at
his old home In Abingdon, Va.
William Knowles Cooper, partner in
Crane, Paris & Co., has been out of
the financial district few days on
account of the death of his sister in
Philadelphia.
Directors of the Packard Motor Car
Co. have declared a dividend Of 10
cents per share for the third quarter,
payable September IL to stock OF record
August 1S