Evening star., 1933-03-23

Hear ago, an IN
Grease of SIS, ,915.56. N
Operating revenue
Reductions required
S452,937. 80 in COM Charles w. Clayton.
parison with S469.-
Ol595, reduction in expenses OF $l6,-
O78.65, leaving net operating revenues
of S498,34435 against sass, ,350.14, an
increase of Sal ,994.21. Miscellaneous
Income during the month showed an
increase of $3,80322, while gross re-
yealed gain of over $45,0O0.
For the first two months Of the pres
ent year operating revenues brought IN
k7,976,O 6,O72.6 SO, compared with 81 $780,
DOT 80, a drop of $19,935.19. Revenue
reductions took $936,396.90, against
1912, ,2O3.77 a year ago, a reduction OF
more than $35000 in operating ex-
penses. This LETT net operating reve-
'nues of 81 ,O39, ,675.73, compared with ST.
p23,8O405, an increase of $751; SO.
} A gain of $60l6.41 was reported in
miscellaneous income, while gross was
fp $21,888.O9. Other usual deductions
Were $2,232.79 more than q year ago,
leaving a total net income for the two
months Of $918,255.43, against $841,-
1886, or an increase of $24,120.87.
Clayton Reelected Credit Head.
Charles w. Clayton, secretary Of the
F. P. May Hardware Co. Of this city,
and one of the outstanding figures in
Washington credit circles, was re-
elected to his eighth successive term as
president of the adjustment bureau of
the Washington Credit Mems Asoscia-
lion, Inc, at a special trustees meet
ing.
Lister T. Watts, credit executive Of
orI NJ Of
a former director of the National Asso-
citation of Credit Men, was reelected
as vice president. Waldo j. Tastet,
official and director of Fries, Beall g.
Sharp Co., was reappointed treasurer
of the bureau, and A. L. Birch was
named secretary manager. Mr.. Birch,
formerly a Washingtonian, has been in
the New York headquarters of the Ma
tional Association of Credit Men for the
past four years.
The Adjustment Bureaus trustees in
clude E. A. Brown. Charles w. Clayton,
"A. R. Glass, R. M. Harper, Louis M.
Hewlett, George w. Huguely, G. H.
Markward, c. H. Pope, John A. Reilly,
Waldo j. Tastet, Lister T. Watts and
F.. w. White.
Railway and Electric Net Up.
According to the monthly financial
statement of the Washington Railway
g. Electric Co., filed today with the
Public Utilities Commission, operating
revenues in February totaled 1923, ,480. .46
against $685., ,213.38; operating expenses
and taxes required $303 ,005.59 in COM
parison with 1898, ,960.49 in February,
1882, leaving net operating income of
$40, against $46,252.89.
Incorporating income totaled $473,-
709.96 compared with $443, ,520.78 a year
ago. Gross less taxes and operating
18483 compared with $489, 9,773.67. De-
auctions took $54,216.15 against $54,-
025.71 year ago, leaving total net
income in February of s439 ,9686 SO COM
pared with $435, 74796 in February,
1882, an increase of $4,220.72.
The railway company also filed its
report for the first two months of the
present year, showing operating reve-
Ques of $679, ,790.07 against $788, $685. 90
a year ago. Operating expenses and
taxes amounted to $631 ,939 81 compared
with $693, ,966.64, leaving an operating
income Of $46,850.45 in comparison
with S94,690.34 year ago.
Incorporating income amounted to
$496,773.1 against the much lower fig
ure of $467, 7,282.20. Gross, less expenses
and taxes, totaled $549, ,62355 compared
with 1851 ,97254, while the usual de-
ductions called for $108, ,44896 against
$l08,052.87 in the first two months of
1892.
Following these deductions, the COM
pany reported a net income of $685.
174.59 in comparison with $453,919.67
last year.
Local Dividends Are Declared.
Directors of the American Security
e. Trust Co. have declared quarterly
dividend of 2 per cent, payable on
April 10 to shareholders of record on
March 81.
The Carpet Corporation, a local food
distributing concern, has declared a
dividend of 25 cents per share, payable
April to stockholders Of record
March 25.
On the Washington Stock Exchange
today there was one transaction in
Potomac Electric Power 5R per cent
preferred stock at LOG. Washington Gas
Light SIS, 1860, figured in $500 turn
over at 103.
Hobson & Co., local investment house,
ated Investors have declared semi
annual dividend of 2h per cent, payable
in stock on April 20 to stockholders Of
record March %.
Financial District. Comment.
George A. Harris, president of the
Potomac Joint Stock Land Bank, is back
at his desk after three months passed
in Florida. He is greatly improved in
health, having practically recovered
from his recent illness.
Secretary of the Treasury Woodin an
nounces an Offering Of 10000, 900 Of
g1-day Treasury bills to be dated March
E9, 1888. Bids will be received at the
Treasury up to 2 pm. Monday, March
IT. The issue is designated to provide
for maturing issue of $100, 0,039 900.
Manufactures Finance Co. Of Balt1-
more declared the regular quarterly
dividend of 4334 cents on the z per cent
preferred stock, payable March 81 to
stock of record March "a.
Richman Bros. Co. has declared the
regularly quarterly dividend of IS cents,
payable April to stock Of record March
Of 388 Federal Reserve member
banks In Fifth Federal Reserve District
274 have been licensed to reopen, the
Federal Reserve Bank of Richmond re-
ports.
James r. Leavell, president Of the
Continental Illinois Bank & Trust Co.
has been elected Class A director OF
the Federal Reserve Bank of Chicago to
all the unexpired term of George M
Reynolds.
FOOD COMPANY HEAD