Evening star., 1931-12-30
TELEPHONE PROFIT
S1S5,233 IN MONTH
c. &. p. Reports November
BuSineSS-InCreaSe in
Service Is Noted.
BY EDWARD c. STONE.

BY EDWARD C. STONE.
Telephone operating revenues Of the
Chesapeake & Potomac Telephone Co.
for November amounted to S77e,327
the report of operations filed today
with the Public Utilities Commission
shows. The total operating income
after deducting taxes and uncollecti-
bles, was S2O0O79.
Balance net income in November
was 1882 Balance net income for
the IL months ending November 30
amounted to Sl,s25, ,3s9, as compared
with 81 1873, 1873 for the first IL months
Of last year.
Telephone operating revenues for
the II months ending November 30
amounted to SS,419,042 as compared
with 1882, ,403 for the same period
last year. Total operating income,
after deducting taxes and uncollectlbe,
for the first II months of this year
amounted to S2,l3l,566, as compared
with 81 l,59e,94 for the IL months OF
1880.
City Served BY l77,S53 Phones.
washington was served by 1888
telephones at the close Of business No
vember 80, a net gain Of e,373 since
January l. In November telephone
users made 18,600 900 calls an in
crease of IL per cent over the number
made during the same month OF 1880.
The continued increase in telephone
usage in Washington, according 70
General Manager John A. Remon, re-
uuired the addition Of 55 telephone
employees to the force during the month.
1t has also enabled the company to pro-
Ceed with its construction program,
which, in addition to the regular tele-
phone employees, gives employment 10
208 men.
Taxes in November amounted to $751;
SS7. Taxes for the first IL months OF
the year were 1929, ,l57, as compared
with S52l,ll7 for a similar period In
1880.
Capital expenditures for new plant
and equipment added TO the companys
system in the District for the IL months
amounted to S2,9ll,7o3 Gross retire
ments during this period were Sl,ls6,-
526, making net additions $l,7l5,l7T
Many Local Dividends Voted.
Directors of the National Bank OF
Washington, at their monthly meeting
held today, declared the regular semi
annual dividend Of per cent on the
capital stock, payable January 2, to
stockholders of record December 80.
Transfer books will be closed to jan
uary 4.
Directors of the McLachlen Banking
Corporation at a meeting late yester--
day, declared the regular semi-annual
dividend of 3 per cent, the diSburse-
ment being payable December 81 TO
stockholders Of record December "a:
The directors Of the Federal Security
g. Mortgage Co. 1922 K street north
west, have declared the quarterly. diVi-
dend of 2 per cent on the preferred
stock, payable on January l.
The board Of directors of the John
H wilkins Co. coffee merchants, have
declared the regular semi-annual dlVl-
dend of 4 per cent on the outstanding
preferred stock and dividend OF $3.50
per share on the no-par common stock,
both payable January IL.
Another important dividend recently
declared was the regularly quarterly
disbursement of the Security Storsg ge
Co.. at the usual rate of per cent per
annum. This company also has voted
the usual extra dividend Of l per cent,
making q 6 per cent payment this year
The American Security & Trust Co.
also voted the regular quarterly divi-
dend together with an extra.
T. L. Hume Joins McKnew & Co.
D. H. McKnew & Co., announced that
Thomas L. Hume, jr., formerly con-
nected with the Washington office OF
the Guaranty Co.. of New York, Is now
municipal department. Mr.. Hume is
we'll known in local financial circles,
and for the past IL years has Identified
himself with the investment bond busi-
ness.
Aside from belonging to the Bond
Club of Washington, ne is member
OF the Chevy Chase CLUB Sons Of the
Revolution and during the World War
served in the Naval Aviation Corps.
- !, De
is receiving congratulations and best
wishes from his many business aSso-
ciates.
Railroad Reduces Salaries.
Salaries of all general officers Of the
Richmond, Fredericksburg & Potomac
Railway have been reduced 10 per cent.
The Southern Railway reports No
yember net income S569, 1852, against
Sl.4l5633 in November 1880. Eleven
months net was 81 ,93l ,306, against $l7,-
700, ,l79 a year ago.
A frmer money market is indicated
by the sale Of SlO0,0O0000 Treasury
bills at 3.25 per cent. The November
issue sold ct 2.59 per cent
Local holders Of New York Stock Ex-
change securities say that their 1882
happy New Year will depend on stocks
and bonds getting around that "one dig
corner"
As A. b. A. Head Sees 1882.
Harry J. Haas, president of the Amer
ican Bankers Association, says that II
the railroads of the United States can
be assured Of sufficient funds to meet
maturing obligations and additional
funds with which to make purchases Of
locomotives, this situation in itself will
turn the wheels of the steel business and
others, even down to the small grocery
stores. This is one OF the views he eX-
pressed when he was in Washington the
other day to confer with President
Hoover
Study of Basic Conditions.
MANAGEMENT Of Capital by Invest
ment Counsel During l930-3l" is the
title of q study compiled by Loomis.
Sayles & Co. Inc, in the Shoreham
Building It contains the monthly in
terpretation of fundamental conditions
made during that period, together with
the specific recommendations on sales.
Conclusions may be readily drawn as to
the results obtained in these interpreta-
tons
SHORT-TERM SECURITIES.