Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-31
D. c. CORPORATION
EARNINGS MOUNT
September Returns Reveal
Wheels of industry Turn
ing Rapidly.

GSud31f1f9As AEG1f1tf1E W titE Hf9AtlAG
report made during the week. Reports
for the first nine months OF 1891 were
also highly satisfactory and indicate
that the fun years earnings viii be
much better than had been thought
possible at the end Of the second
quarter.
The financial statement flied with
THE Public Utilities Commission this
week by the Chesapeake a. Potomac
Telephone Co showed net earnings in
September amounting TO si36 164,
compared with s97.fls In the CORE
sponding month . year ago, an increase
OF s87,e4s. For the first nine months,
the telephone company reported total
net earnings Of 81 4i2 sol, while in the
like period Of 1880 they were 500. 6S7.
an increase so far IN 1891 OF $500. ala
That business in this city Is far from
q standstiu Is also indicated by the
September report of the Potomac
Electric Power Co Net income for the
month was s355 1929. against $3.50
SLABS In the corresponding month last
year. or an increase in profits OF Sill
sse 95 Total net earnings for the
thrst nine months Of 1891 amounted to
l334l. TOT %. @T some SIS eco from the
like period last year. but certainly a
Another local corporation that Is go
Eng strong so to speak. is the Weshing-
ton Gas Light Co. The September re-
port showed net earnings of sos 434 IL
against 332. l50.75 in September. 1890,
making . substantial gain of S3s 283 IS
m the four-week period. Net income
for the first nine months reached the
sum Of ss42.fiS.46 against s612,822. SO
IN the similar months year ago, pre-
eenting an increase net income Of
e229, 295.T7
During September the Washington
Railway a. Electric Co. defied both the
business situation and cut-rate taxicab
fares TO show earnings almost equal to
those Of September. 1880. Net corpor-
ate income was S26,9l7.25 against
s2a. 73467 year ago decrease of
S2.ai742. For the first nine months in
1881 the company reported q net in
come of $l.526.313.37 compared with
S1.35T. 75759 an increase SO far this
year OF Sl6s, S55.78.
Thus the figures of these big local
corporations show that the wheels Of
industry and business are, turning at a
lively pace in the Capital. much faster
than many people realize.
Indians w. Business Depression.
"The forces Of defiation have been at
work for more than two years They
have been manifest in the securities
markets. I'm commodity markets. in pay
rolls and wage scaless in real estate
values and Fents-in every field of ecc-
nomic activity. The need for further
deflation in some directions has by no
means passed. But granting that some
fprther defiation remains to be accom-
plished" SAYS the Alexander Hamilton
Institute. 1.-The question is whether it
should be slewed TO run its devastating
course unchecked or whether the tonic
OF imitation may not be judiciously adj
ministered.
There is a policy midway between
the cropping for magic which win trans
form the situation overnight to nor
mality and the policy of hands off.
While rightfully the perils of imitation
should be guarded against. 1t Is coun-
sci of despair to insist that every mis-
step Of the past must be retraced before
business can go ahead.
Men do not behave so as individuals.
The consequences of mistakes are
borne. but there Is no such thing as q
completely fresh start. Business need
not debate to the point of returning
the country to the Indians before II
can take thought of going ahead" the
institute asserts.
A. q r. Declares Extra.
The Great Atlantic 81 Pacific Tea
Co. has declared an extra dividend OF
25 cents a share on the common stock,
in addition to the regular quarterly dis
bursements of $3.50 en- the common
and SITS on the preferred stocks.
A similar extra dividend was declared
in July. The common dividends are
payable December l TO stock of record
November and the preferred payable
December TO stock of record NoVem-
Der Is.
Bauman Heads Building Council
Chaplin D. Rauman. a director of
Oriental Building Association, No. g.,
was elected president of the District
of Columbia Council of Building and
Loan Associations at the annual meet
ing last night Carl j, RerRmann
treasurer Of Washington Permanent
Building Association. was elected vice
president, succeeding MIR. Rauman VIII
liam s. Quinter, president of District
Building Association, and Willard r..
Dixon, treasurer OF National Perma-
nent Building Association, were re-
elected secretary and treasurer, re-
Epectiyely.
The officers and the following were
elected 10 serve as the councils En-
ecutive Committee for the ensuing
year: c. Clinton James Columbia
wood, Northeast Building Association
James r, shea, Mutual Serial Building
Association; John b. Geier, National
Permanent Building Association;
George NJ Emmerich Northern Liberty
Building Association. Edward c. Baltz.
Perpetual Building Association, retiring
president of the council. was also elect
ed to the Executive Committee.
The council voted TO organize a
luncheon club 10 hold monthly meet =
ings to which all building and loan
men win be invited William s Quin-
ter and G Clinton James were named
delegates to the Southeastern Group
Conference OF Building and Loan As
sociations at Atlanta November 20
and 81,
Club Funds 20 Reost Trade
Local bankers are already planning
ahead for the payment early In De
Cember of nearly $4,000 900 to mem
berS of the Christmas Savings Clubs.
This huge sum turned into local trade
channels during the holiday season
holiday business
II has been found in the past that
only about half Of this sum Is actually
spent on Christmas gifts. the remainder
being used IN the payment OF al sorts
or bills. together with large per
centaae being put in the banks SIS
permanent savings.
The Christmas Savings Clubs have
gained amazing popularity in Wash
ington, the Advertising Committee Of
the District Bankers Association hav-
ing received great credit for doing 50
much TO establish what now appears
to be q permanent institution, This
wear there have been nearly 100. 0oC
members in these clubs conducted By
nearly 80 local banks,
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Steel Exports Lower,