Evening star., 1932-02-25

70.64l.73. COM
nared with 1884,
45o.53 a year ago, Richard whitney.
an incre ase OF
SlO6,191.20 Revenue deductions called
for S503, 1882 against $495,6ll.76 in
the like month in 1881, an increase OF
s7,576.o6, leaving a net operating reve-
nue. Of s567,453sl, Coz compared I7 with
Miscellaneous income showed a fall
ing off of more than $4,000, leaving
gross corporate income of S579,783.84
In comparison with $439 ,64828 in jan
nary. 1881, or an increase Tor the
month of S86,135.56. Deductions from
gross required $77,758.94 against $fO,-
991 SO in the first month Of 1881, an
increase of S6,767.57, and leaving the
above mentioned substantial gain In
net income of well over $4,000.
January Retail Trade Lower.
The Federal Reserve Bank of Rich
mond reported today that sales IN 81
department stores in the fifth district
in January made the most unfavorable
comparison with sales in the CORE
spending month Of the preceding year
that has occurred in a number Of
wears. Part of the decline this year
is due to lower prices, and part to ex-
ceptionally unreasonable weather Tor
Winter trade.
Stocks on the shelves of the report
Ing stores declined an average OF 81
Der cent in January, seasonal re-
duction, and at the end Of the month
averaged 1O.9 per cent less than stocks
or hand a year earlier. Probably most
Of the decline in stocks during the
year is accounted for by price reduc-
tions.
Collections in January averaged 28.5
per cent of receivables outstanding at
the beginning of the month, lower
percentage than 80 per cent collected
in January, 1881, the Richmond bank
says.
The report stated that retail trade
in Washington department stores was
of 16.3 per cent, in Baltimore, 1877 per
cent. and in Richmond, 22.1 per cent,
compared with last January. The aver
age for the fifth district as whole
was down 1873 per cent, while group
of cities outside of Washington, Balti-
more and Richmond showed slump
Of 22.1 per cent.
w. R. g. e. Earnings Hit Hard.
Taxicab competition in January struck
a hard blow against the earnings OF
the Washington Railway & Electric Co.
in comparison with net income in Janu-
ary, 1881, or before the present low taxi
cab rates went into effect. The monthly
report was filed with the Public Utilities
Commission today.
January operating revenues amounted
to S403, 1880 against S474, 4,570.93 in
1881: while operating expenses and
taxes called for 1885, ,006.15, compared
with 1892, 1909. leaving an operating
income for the month totaling SAB, 8,437.-
As, while the corresponding figure q
year ago stood at $82, 2,440.34.
incorporating income was $23,-
come, less operating expenses and taxes,
amounted to $72 1887 in comparison
with $105,256.94. Deductions from
gross totaled, $54,02716, against $55,-
414.60 in January, 1881.
The usual deductions left the Wash
ington Railway & Electric Co. with a
total net income for January of $18,-
It'll, compared with $40 ,842.34 in the
like month in last year, falling on
Of $31 ,670.63.
Whitney Visits Washington.
AS noted in yesterdays Star, Rich
ard Whitney, president Of the New York
Stock Exchange, testified before a
congressional committee in connection
with the move to check short selling
in the stock market. Mr. Whitney has
always taken the position that short
selling is help to the market and,
therefore, Congress should not legislate
against 1t. He insisted that short SELL
ing has been particularly beneficial dur
ing the present depression, even claim
ing that without it the stock market
would have been forced to close.
Insurance Manager Honored.
Aubrey ]. Voorhees,, manager Of the
Washington office Of the Aetna and
affiliated companies, has just been
transferred to the company's branch at
Albany. In appreciation OF his splen-.
did work in the Insurance Club of
Washington, Of which he was president
last year, the members held a special
luncheon meeting yesterday at the
Racquet Club at which he was the
guest OF honor
The club president, Elmer L. Mantz,
presided. and Edward S. Brashears, the
clubs general counsel, was toastmaster
MI. VOORHEES,, who has been very active
in the insurance business here for 10
years, was paid glowing tribute by
his associates, after which he was pre-
sented with the largest dictionary the
NAoO SOh40 4A4lNI d4lA Will ScNcIc1 CIIlGI
gifts.
His place in the Aetna's Office here
is to be taken by J. E. Lewis, who has
been superintendent of the bonding de-
partment Of the Philadelphia Office.
Trading on ID. c. Exchange.
Washington Gas 6s series A, figured
In two 500 and one 5000 sale on the
Washington Stock Exchange today at
100. A small transfer in Potomac Elec-
trio Power 5l2 per cent preferred was
recorded at l03a4, ex dividend
Secretary Mills announced that the
Treasury will sell on next Monday,
Sl00,000,000 in 91-day Treasury bills,
on a discount basis to the highest
bidder. They will be dated March 2,
and mature on June l, when they will
be paid of at their face value
The money received from the sale
OF the bills will be used to retire $780,
100000 in bills which become due on
March 2.
Heard In Financial District.
The Hagerstown Chamber OF Com
merce has appointed a committee to
appear before the Interstate Commerce
Commission, February "a, to protest
against the ALLEGATION of the Western
Maryland Railway to the Baltimore &
Ohio Railroad.
Chauncey @. Parker. jr., and Albert
G. Redpath, of the investment banking
firm Of Auchinclaus, Parker g. Redpath,
have returned from a vacation trip to
Bermuda.
The second forum meeting Of the year
Of Washington Chapter, American In
stitute of Banking, takes place this eve
ming in the American Security g. Trust
Building, Norman e. Towson, speaker.
The meeting is open to all institute
graduates.