Evening star., 1932-01-21
M'KEE REELECTED
BY CLEARING HOUSE
Deyber Also Chosen to Re-
tain Post as Secretary
of Association.
BY EDWARD C. STONE.

IL II. N4SIACNB "a SoAANAAS ~ N-@N
tional Capital Bank, was reelected
chairman Of the Washington Clearing
House Association at the annual meet
ing held late yesterday afternoon. Mr..
Mckee has rendered long and valuable
service to this important organization
and the members insisted upon his re-
naming in office another year.
Victor B. Deyber, president OF the
Second National Bank, was again
elected secretary. This will be MT.
Deyber's tenth year in this ONCE.
The association reelected Frank j.
Stryker, president of the Columbia Ma
tional Bank, and G. F. Jacobsen, cashier
of the National Metropolitan Bank, to
membership on the Executive Commit
tee, their terms Of office having expired
this year.
The other two members of the Clear
ing House Executive Committee are
Robert V. Fleming, head Of the Riggs
National Bank, and George L. Starkey.
president of the National Bank OF
Washington. They were elected to their
present Offices last year.
Following the election of Chairman
Mckee and Secretary Deyber, Charles
E. Bright, assistant cashier of the Ma
manager of the Clearing House, posi-
ton which he has held most acceptably
for many years. S. E. Moore, who is
also connected with the Metropolitan
Bank, was named assistant manager.
The Clearing House headquarters are
located in the Metropolitan Bank Build
ing, The usual routine reports were
presented, the work of the association
during the past year having been OF
unusual importance.
Potomac Power Report Filed.
The Potomac Electric Power Co. has
filed its December report with the Pub
lie Utilities Commission and also the
financial statement for the full year
December operating revenues totaled
Sl.O30,6l9.63, compared with Sl,Ol6,-
525.26 a year ago, a gain Of $l4,093,97.
Revenue deductions required $780,
7SS.42, against $SS5,5Ss77, an increase
of 500, 1885.
After these deductions December op-
Grating net revenues amounted TO Sb44,-
1921, against $3.50, 1859, a decrease
of S86,05469 Gross revenues totaled
practically the same figure, leaving the
corporation, after all other deductions,
with a net revenue for the month of
s48l, ,609.96, compared with S577 ,345.76,
or a decrease of s95, 1880 over the like
month in the previous year.
For the full year, operating revenues
totaled Sl0,857, ,475.76, against $40, $685.
es956 a year ago, gain of 1921 20,
while operating expenses called for
$780, ,058.28, an increase of 1924 ,202.52.
on-operating were off 32,686.32 for
the year and miscellaneous income was
down SAT ,56S96, leaving drop in gross
income of S80,255.28. There was an
increase in deductions from gross
amounting to S1O2,529.57, leaving
total net profit for the year of S45S3,-
224.S0, against S4sF66,009,l5 in 1880, a
decrease of $la2,7s4.S5.
Pepco Reports Years Earnings.
Report of the Potomac Electric Power
Co., filed today with the Public Utilities
Commission, shows total net earnings
of S2,030, ,848,03, against Sl,895, ,40a.54 in
1880 gain in 1881 profits OF $685.
339.48.
Gross earnings for the year, less oper-
ating expenses and taxes, amounted to
S2,681 ,46224, compared with $2,568,-
Oe5 90 in the like period in the previous
year.
December net revenues showed
considerable falling off, being S49,-
1886, in comparison with $74,50052
in December, 1880.
Operating revenues in December were
S388, ,972.15, compared with S452, 2,75787
in December, 1880. Operating expenses
were held far under the previous De-
cember, but the difference in operating
income left net operating revenue of
S72,l75.24, against the higher figure of
slos,45s.e2,
States Youngest Trust Officer.
Word has just reached Washington
that Rembrandt P. Lane, a native Of
this city, has just been appointed assist
ant trust officer of the National Newark
a. Essex Banking Co, of Newark, N. j.
BY this Advancement he became the
youngest trust officer in that State.
The young man entered the banking
field shortly after his graduation in
engineering at Yale becoming asSo-
ciated with the Guaranty Trust Co. OF
New York in the head Office. After
gaining wide experience in all depart
ments Of banking he was transferred
to the Washington Office of the COM
pany, where he specialized for five
years in security analysis and distribu-
ton.
From this city he went to Newark
His promotion is considered most graft
flying when it is considered how few
official changes or additions are being
made in banks during these strenuous
days in finance. The young banker is
married and lives in East Orange his
wife before her marriage being Audrey
Heron, daughter of Col and Mrs
Leroy w. Heron of Washington.
Today's Trading on Exchange.
Capital Traction appeared seven times
on the board during todays session OF
the Washington Stock Exchange. AL
the trading was in small lots, the mar
ket opening at 1872 and closing at 10
The largest sale was 20 shares and the
smallest 3.
Potomac Electric Power consolidated
5s sold at 10l and Capital Traction SIS
at 6012. Mergenthaler sold at 81.
Financial District Notes.
Chesapeake g. Ohio's December net
railway operating income was 1884
453, compared with $2765,SS8 a yeai
e. A. Pierce 81 Co., members of The
New York Stock Exchange, with offices
in the Transportation Building, have
for distribution review Of chain store!
and mail order sales for December anC
the year 1881.
Directors of Mount Vernon Saving
Bank at their annual meeting of or
panization Yesterday reelected all pres
ent officers, as follows: Claude H
woodward, president; A. o. Wharton
William II. Johnston, E. c. Dawson
prank w. Lee, vice presidents; Rober
T, Highfield, cashier; Leo E: Madlgan
controller; T. Edwin Norris A
Mistretta assistant cashiers; L. Har
old Sothoron, attorney; Hayden John
son, advisory counsel.