Evening star., 1933-06-29

Directors are G.
Thomas Dunlop,
William J. Eynon,
Fleming Newbold, John L. Newbold Jr.
John L. Newbold,
jr.; Ben L. Prince, Leon Tobriner,
Donald woodward and c: B. Buck.
The American Fire Insurance Co.
has also announced its election Of
officers for the coming year, all officials
and trustees being reelected at the
annual meeting of the stockholders.
The officers are Charles Schafer,
president: F. A. Blundon. vice presi-
dent: G.. NJ Emmerich. secretary; F. j.
Ehlers, assistant secretary; G. j. Berg
mann, treasurer.
Trustees for this company are
Charles Schafer, v. B. Deyber. Max
Walten. Harry M. Packard. Francis A.
Blundon. A. F. Jorse, G. M. Emmer1ch
end F. J. Ehlers.
Ice Company Would Make Beer.
A special meeting of stockholders OF
American Ice Co. has been called for
August 4 to authorize a change In the
company's charter which will permit
It to manufacture beer.
- Company's directors have voted the
regular dividend of $1.50 share on
the preferred stock, payable July rs to
stockholders of record July 7.
The American Ice Co. has operated
a plant in Washington for many years
and considerable ice company STOCK Is
held in this city. Growth OF the auto
matte refrigerator business in recent
years has forced the firm to expano 1.s
business activities into new fields. lts
first move of this kind was to enter
the fuel business by handling oil ana
coal.
Potomac Powers Income Gains.
The Potomac Electric Power Co:
showed another monthly gain in total
net income when the May hnanc!al
statement was filed today with the
Public Utilities Commission. Operating
revenues totaled 1865, ,756.42, compared
with 1858 1896 in May 1882. OIL
S321354
Revenue deductions to cover operat-
ing expenses and taxes called for
s465, ,7O8 SO. against $483, ,496.57 in May
a wear ago. a decrease in operating
costs of Sl7,78 88, and leaving net op-
Grating revenues of S400, OATH, in COM
parison with 1885 ,47389 in the like
period last year, an increase OF Sl4-
57434. After all other deductions, the
power company reported a total net
income for May of s332,061.02, com.
pared with S320,32899, or a gain OF
$1173203.
For the first five months OF the
present year the Potomac Electric Pow
er Co.'S operating revenues showed
falling off of $64,994.97, but reductions
were made in operating expenses to-
falling the higher figure of s83 g.
leaving net operating revenues for the
period amounting to S2,302 ,549 49,
against S2284 ,22532 year ago, or an
improvement of sl8,324,76.
Miscellaneous income this year
amounted to SCI, ,6O19 90, against s62,-
227.88 a year ago. After all the usual
deductions from gross, the power COM
pany reported net return for the
five months totaling 81 1884 9229 SO, as
against 81 ,962. .26942 to the same date
in 1882, or an increase of S22,653.56.
May Street Car Net Higher.
The Washington Railway & Electric
Co. reported to the Public Utilities
Commission today that operating rev.
enues in May totaled S349,684.12. in
comparison with the higher figure of
s400,O82.08 in May, 1882. Operating
expenses were sliced off, being $316,-
67l.86. against S345, ,145.15 last year,
leaving an operating income Of S33,-
O1226, against s54,936.93 a year ago.
incorporating income amounted to
s473.926.58, against SAB ,649.13 a year
ago in May. Gross totaled $506, ,938 "a.
compared with the lower figure of
s498, ,586o6 The usual deductions from
gross required S5403506 against s53,-
69067, leaving a total net income for
May of s452 9O3.78, in comparison with
S444,895.3 80, an increase of S8,008.39.
For the first five months of 1888 the
street car company reported an operat-
ing income of S141, 1,029.54, against $246,-
1878, together with a incorporating
income of S1,016,687.23, compared with
S9S0,27809 last year.
Gross less operating expenses and
taxes. totaled s1,157,716.77, against ST.
2O7.035.47 last year. Deductions from
gross required s271, ,048.4l, compared
with s269,758.77.
After these deductions the railway
and electric company reported a net
income of 1886 6,66838, as against a
higher return last year OF $937,276.70,
a decrease of S50,608.34.
Capital Traction IS Lead Trading.
Capital Traction IS were the most
active issue on the Washington Stock
Exchange in a rather quiet market.
Three $1,000 sales in this issue were
recorded at At.
Anacostia g. Potomac Railroad SIS
figured in a $1,000 transfer at A and
$500 Washington Gas Light IS, series B,
changed hands at 1925.
Capital Traction stock came out on
the board six times in 10-share lots. all
,ssales being made at 10.
:, LanSton Monotype noted small sale
at A and Potomac Electric Power per
cent preferred stock registered Ill on
sale of a single share.
The exchange has received notice of
yesterdays declaration by the National
Bank of Washington of the usual SEMI
annual dividend of 4 per cent, payable
July to stockholders of record June 80
Cleaned in Financial District.
All the local brokerage Offices will be
open as usual on Monday, as the New
York Stock Exchange governors have
declined to close the market on the day
before the Fourth.
Sales of ordinary life insurance dur
ing Nav totaled S494 .519, 900, a decline
of 10 per cent from like month last
year, according to the Life Insurance
Sales Research Bureau. Sales for the
first five months this year aggregated
S2.375, ,697 900, q decline of % per cent
from similar period last year.
Resumption of cash interest payment
by the government Of Ell Salvador or
its dollar and sterling bonds IS the
'first instance during the depression In
which a country that had suspended
interest payments on foreign loar
resumed debt service. Salvador Is the
smallest country in Latin America ano
the only one not recognized by the
United States.
Louis Guenther, editor Of the Finan-
cial World, after several months seri.
Gus illness, has fully recovered anc
has returned to his active duties.