Evening star., 1931-12-29
v. H.R.&E. NET PROFIT
INCREASES S16G,6B
Report of II Months Filed
oA With Public Utilities
Commission.
BY EDWARD c. STONE.

Il 6s4.l7, compared with Sl,82l ,0O8.02, an
81 increase Of $166, ,67615.
Nj According to the financial statement
N iust filed with the Public Utilities Com
N mission, operating revenues for the II
n months were $4,34o, ,2S9.43, against
nj s4,5l7,6I6.36 in the like period year
NJ ago. Operating expenses and taxes re-
VI ouired SO 3,575, OFT so, in comparison with
MI SO, $50 ,633.5l year ago, leaving an op,,
M Grating income Of $764,34l,62, compared
S8 with S766, ,982.85 in 1880.
8 Incorporating income amounted 20
gM s.. .8l9,s5497, against the lower hgure
MI last year of 81 ,67l 08622. Gross income,
@ less expenses and taxes, totaled $2,5S4,-
M 1876 So in comparison with $2,438, ,Ob9.O
# Deductions from gross called for $685.
nj 5l242 against larger deductions year
# ago of S6l706l05. SubStracting THIS
Nj amount from gross earnings left the
M above stated substantial gain in net
u profits
w. r. g. E. November Earnings.
VI The railway and electric company had
a substantial gain in net earnings for
November, this report also being hled
with the commission. Operating rev.
u enues in November totaled 1852 ,862.95,
Il against $4l8, ,3OO.O7 in the like month a
4 wear ago. Operating expenses and taxes
were lower in November, 1881 being
Il 1904, 4,479.45 against $780, 1875.
This deduction left an operating in
come amounting to S58,363.50, against
S5s16l32 in November, 1880. Nom
opkfating revenues were $4l4,494.34,
c6nrared with 1881 ,O327l in Novem-
ber. 1880. while deductions called for
s53,52o.66, against s54,944,3O year
ago. A..
After all the usual adjustments the
street car company reported a net in
come for November Of S4l9357l8 IN
comparison with S384,249.73 in Novem-
Der, 1880, or a gain of $35,lo845.
Company Plans to Dissolve.
Directors Of the Columbia Sand &
Gravel Co. will hold a special meeting
in Alexandria on January for the
purpose Of considering dissolvlng the
company. The notice states that the
holders of the preferred stock are to be
paid in full at par for their stock and
are-to receive any back dividends in
fuc before the holders Of the common
stsck are to be paid The notice also
ststes that the company has sufficient
assets to meet all required payments
osts the preferred stock,
Ihe Columbia Sand g. Gravel Co.
waS formerly the Columbia Granite &
Dredging Corporation and has been en-.
gagged in dredging gravel and sand and
marketing the same in Washington and
vicinity. The company has valuable
property up the Potomac and also gets
a great deal Of its product down river.
Slyde B, Asher was formerly presi-
deaf and several local bankers were
members of the board. Last February
the company was bought by the Arun-
des Corporation Of Baltimore for the
SrNoot gravel interests in this city.
l. sE. Smoot is now president OF the
Columbia company and Thomas A.
But, secretary and treasurer.
Fhe Columbia plant is located on K
stfeet.S in GEORGETOWN, next to the
Smoot' Sand g. Gravel Co. In the fu-
ture the two will presumably be oper-
stEd as one plant. Both do very
large business.
= Insurance Held Good Omen.
Using q conservative estimate for
December, sales Of life insurance during
1881 will average about 100000 600
foR every working day, says the Life
Insurance Sales Research Bureau. Peak
year in sales was 1929.
Although average figures for 1881 are
below those of last year, the trend dur
ine the past few months has been very
enroura ging the bureau reports. When
the experience for the current month
is Better than the average experience OF
nrScedinp months, the indication is
that business is improving. Sales IN
the United states rs a whole for the
flra 10 months of 1881 were Is per cent
below 1880 for the like period, while
saNs in November Of this year showed
q decrease Of only per cent when COM
pared to November, 1880.
@Since life insurance Is an excellent
reflector of general economic conoltlonS'
thR Improvement in life insurance
sales indicates better business conol-
tioHs," says the report.
rWouId Expand Reserve Credit.
44Jnless the credit of the Federal
Reserve banks is expanded, the new
FinAnce Reconstruction Corporation
win be doomed to failure"
This statement was made by Dr.;
Lionel F. Edie, monetary authority and
former professor of finance at Chicago
University. at a luncheon given yester-
day in the Hotel Mayflower by Edward
/. aBernays, public relations counselor
of sNew York.
Sr. Edie urged that immediate steps
he Staken to expand this credit. The
FEDERAL Reserve System and banks
haze been contracting credit at the rate
Of sabout % per cent per annum, ne
saia. IF this deflation continues there
wild be no credit. To pour credit into
the economic structure with recon-
straction corporation on one hand, and
to 4pull it out by the Federal Reserve
onsthe other. is a futile procedure that
vitiates itself"
aqf there is to be a stop 10 this disas-
troas defiation, it must be through
working hand in hand OF the Federal
Reserve System and the Government
agencies for financial relief and credit
EXPANSION
Trading on ID. c. Exchange.
Washington Gas 6s. series A, opened
the washington Stock Exchange today
with a 900 sale at 100. Later $1,000
/ Wahington Gas Light SIS sold at l0O54
Il the market closing with another sale al
II the, same figure.
d capital Traction stock figured in the
4 san of a 20-share lot and a 3O-Share
a lotSat 1872, eX dividend.
Potomac Electric Power 5'2 per cen! cen!
4 preferred moved at 1929, and eight
shwes of Federal Storage preferred
n changed hands at 100.
Offering Is Oversubscribed.
4 Ecting Secretary Mills of the Treas
4 urv reports that applications totaling
II sign O72 600 were received for the ten
des Of 500 900, 600 in 9l-day Treasury
bilB dated December 30, 1881
The highest bid made was $3.50
VI equivalent TO an annual interest rate OF
n sbSIt I.7s per cent. and the lowest bid
accepted was 99O77. The total amount
Of bids accepted was 1882 600.
" Building Goes Up At Auction.
was announced today that the Sc
cuHties Building located at 729 Fiji
Herth street, will be sold at auction late
ina week. The Washington ofice OF
HaTflman & Co.. Of which G. Bowie
e. ChPman Is resident partner, has been
situated in this building ever since i