Evening star., 1932-10-28
DUL|N IS ELECTED
TO D. C. EXCHANGE
Official of American Security
& Trust Co. Is Voted
Seat.
BY EDWARD C. STONE.

.; BY EDWARD C. STONE.
James c. Dulin, jr., assistant treas
4 urer of the American Security g. Trust
j Co, has, been elected to membership
in the Washington Stock Exchange, Mr..
j Dulin entered the employ OF the trust
company in 1909, upon graduation from
the Washington Business High School.
A graduate Of the Georgetown Univer-
sity Law School, he Is also member
of the District of Columbia bar.
Having started as a runner with the
trust company, he advanced steadily
until in January, 1921, he was elected
assistant secretary and on January IT,
1922, became assistant treasurer. He is
f, now in charge of the banks security
S'and foreign exchange departments.
Mr.. Dulin holds a standard certificate
from the American Institute of Bank
ing and was president of Washington
Chapter in 1923. He has long been very
active in the chapter and at present
is member of the institute faculty as
Instructor in charge of the subject OF
+ investments.
= He is the second financier to be
elected to a seat on the Washington
Kenneth S. Wales purchased seat re-
Gently. He was manager of the local
office of Bonbright & Co. for several
years. When that firm closed its office
he established an investment firm OF
his own and took over Bonbright's s
Washington business.
C. e. p. Phone Revenues Lower.
Total net operating income of the
Chesapeake &, Potomac Telephone Co.
for September amounted to $144, ,4O8
against $204,937 in September. 1881,
decrease of $50, ,529, according to the
monthly report just filed with the Public
Utilities Commission.
Net telephone operating revenues for
September were 5000 ,935. For the same
month last year they were $267, ,749.
Net telephone operating revenues for
the first nine months of the year were
decreased $l79049 as compared with the
same period in 1881.
Total operating income for the nine
months ending September 80 was $751;
O74 less than for the same period last
year. For the first nine months OF 1882
This operating income was 81 ,482, 1873.
Total plant in service at the end OF
September amounted to S33,174,8S5 as
compared with 3O,843,59 for the same
date last year. This was an increase
Of S2.331,292.
Telephone users during the month
made 17,9l60O0 telephone calls from
177949 telephones in service at the end
OF September.
Local Bank Clearings Decline.
In line with the rest of the United
Sta.es during the week ending october
26. Washington bank clearings showed
a seasonal decline from the previous
week Local clearings totaled S15,316,OOO.
against S1S,O20,O00 in the week ended
October 10, decrease of 1876 per cent
from the corresponding week year ago
Baltimore clearings totaled $49, 1892, ,0OO,
against S63,632 in the previous week
and 141 per cent lower than at the
same time a year ago. Richmond re-
ported a gain, total of $50 100000 for
the week ended october 26, against
S29,479,000 in the previous week. 1873
per cent under the same week in
October, 1881 Norfolk reported fall
ing off for the week, as did Atlanta.
Bank clearings at At leading cities
for the week ended october 26, as re-
ported by Bradstreet's Weekly, totaled
S4,476,O98, 900. decrease of $50 per
cent from the preceding week. The
total however, was only 22.1 per cent
York City declined 1913 per cent from
the previous week, a decrease normally
expected due to seasonal tendencies.
Therefore, after adjustment, the index
stands at 400 per cent. of the 1928-30
average, as compared with 408 last
week and SIT for the corresponding
week last year. There has been relative
ly little change in this index since May
Of this year.
The fact that stock market activity
In all large cities was extremely small
during the week accounts for much Of
the decline in the actual figures report
ed and indicates that business activity
is at least remaining steady.
Trading On d. C. Exchange.
Trading was slow on the Washing
ton Stock Exchange today. the last
trading day of the week. Washington
Railway & Electric Is drew most at
tention, two 81 ,000 sales being recorded
at 8812 and $1,000 at an advance to
$685.. Another small sale in Potomac
Electric Power per cent preferred was
made today, priced at ITO.
Net income of the Potomac Electric
Power Co. for the first nine months of
the present year totalled S3,278, 600. 80
ing period in 1881, decrease of s62,-
8O693, according to the report just
fled with the Public Utilities Com
mission.
Virginia Railway reports for nine
months ended September 80, 1882, net
income of S1,201, ,693 after taxes and
charges, equal to $3.50 share on 219,-
$50 shares of per cent preferred stock.
This compares with net income in first
nine months of 1881. Of s2.377, 1856.
equal after dividend requirements on
preferred stock. to 1888 share on
312.715 shares of common stock.
September net income was Sl48, 81
after taxes and charges, against net
income of S447,807 in September, 1881.
Representatives of the District Bank
ers' Association were to hold meet
jng late today with Frederick P. H.
Siddors, chairman of the Roll Call
Committee for the banks in connec-
ton with the coming Red Cross drive
Pans for handling the collections of
Red Cross contributions among the
stats of the member banks are to be
considered The local banks will also
cooperate as heretofore in accepting
contributions from the general public
through special desks placed in the
lcbbies The campaign starts No
vember II
United Stores Corporation has de-
clared a dividend of 8114 cents on the
preferred stock. payable December Is to
Stock of record November 25 Similar
declarations were made in the two pre-
viouS quarters.
Stockholders of First National Bank
of Uniontown, Pa, which closed in 1915,
received dividends which bring aggre-
gate to $3.50 for every 500 share OF
stock. depcsitors long ago having re-
ceived s1l6 on the dollar; rise in coal
land values the cause.
.pnrAT0 MARKET