Evening star., 1933-02-15
TELEPHONE BOARD
: IS AGAIN ELECTED
Directors Renamed at Annual
{ Meeting-EmpIoyes Buy
ing, Stock.
BY EDWARD c. STONE.

In DL AMI ~
At the annual meeting of the Chesa-
peake & Potomac Telephone Co., held
in New York yesterday, the following
directors were reelected: E. C. Graham,
John Poole, Lloyd B. Wilson, Marshall
d. Sedan, Philip o. Coffin, Robert ".
Fleming, DR.. Gilbert Grosvenor Merle
Thorpe and William w. Everett, Wash
ington, and Walter S. Clifford and
Eugene S. Wilson, New York.
1900 Employees Buying Stock.
Many employees of the Chesapeake g.
Potomac Telephone Co. are buying
American Telephone & Telegraph stock
on the installment plan. Referring to
this plan, President Walter S. Clifford
said in his annual report to A. T. & T.
stockholders:
Under the employees stock plan the
price at which stock would have been
acquired in 1882 upon completion of
installment payments was $3.50 or $3.50
per share, depending upon the date
when the subscription was originally
made. Since its Introduction in 1921
participants under the plan have had
the option of terminating their cub
scriptions, in whole c in part, and
withdrawing their acc, lulated funds
at any time prior to the completion of
installment payments and the acquisi-
ton of stock. Under this option en-
ployes during the year withdrew net
amount of $58,572, ,000-an average of
about $3.50 per employe withdrawing.
A considerable portion of this amount
was used by employees to purchase stock
in the open market at prices lower than
those under the plan.
1.-The plan limits subscriptions by any
officer or employe to so shares in any
one year, and at the end of 1882, 77,000
employees were continuing to participate
with an average subscription of 4 shares
each; 10000 employees were using the
savings bank plan, and $1,000 were
availing themselves of the life insurance
plan, with savings deposits and premium
payments being made through pay roll
deductions"
Book Covers Local Securities.
Valuable information regarding Wash
ington securities is contained in the
1893 edition of Facts and Figures on
Washington Securities just issued by
Y. E. Booker & Co., investment bankers,
American Security Building.
Detailed information regarding the
earnings, capital structure dividends,
price range, ETC., on the Potomac Elec-
trio Power Co., Washington Railway g.
Electric Co., Capital Traction Co.. Wash
ington Gas Light Co. and Washington
Rapid Transit Co. for the past seven
years is presented in most convenient
form
There is also given statistics on Wash
ington banks, showing the capital,
surplus and undivided profits for each
fpctityIfiOp dividend 6afac cnd h0oLr
values.
Another feature of the new book which
Is particularly helpful to Washington
bank officials is the fact that it gives
information regarding the capital struc-
ture, officers, ETC., of dozens of the
smaller Washington companies whose
securities are not listed, and regarding
which no information is available else
where.
The booklet also gives brief analysis
of the street railway merger bill recently
signed by the President, and enumerates
some of the benefits which the merged
company should derive from the con-
solidation.
The District of Columbia intangible
tax, the real estate tax and court rules
governing the investment of trust funds
in the District of Columbia also are
given in detail. This is the sixth edi-
ton, the firm putting out the first
publication of the kind in 1926. The
demand for it has increased steadily
as more facts have been added each
year.
Savings Gain in New York State.
Following the report that aggregate
deposits in Washington banks have re-
vealed an increase since the first of the
year, report from New York along the
some line is timely and interesting:
A rise in both savings deposits and a
number of open accounts was registered
in the States saving banks during jan
uary, according to the Savings Bank
Association of the State of New York
The increase in deposits of $2,152,912
brings the total amount due depositors
to $500, ,704, ,915. The gain in accounts
was 22,586. the greatest monthly rise in
IL months.
The gain this January is a reversal
of January, 1882, when there was de-
crease in deposits of s1e,710.931, and
more nearly approximates the normal
seasonal trend" said Henry r. Kinsey,
president of the association.
Trading Confined to Bonds.
Business on the Washington Stock
Exchange today was dull and confined
wholly to bonds. The opening sale was
$500 Washington Gas Light SIS, 1860, at
LOG. After call, Washington Gas Light
IS, series B, figured in $1,000 sale at 104
and $500 at 10312.
The Columbia Gas & Electric Cor
poration, which supplies the Washing
ton Gas Light Co. with natural gas, re-
ports 1882 net income of 1904 ,675,
equivalent, after preferred dividends, to
96 cents share on the common stock,
compared with SLAP on the common
in 1881. The December quarter net
was equal to 81 cents a share against
SO cents year ago.
G. Bowie Chapman, resident partner
OF Hartman & Co. was back at his
desk today after a three-week vacation,
passed at Hot Springs, Va.
G. c. Murphy Co. declared the reg
ular quarterly dividend of 40 cents
share on its . common stock, payable
March to stock of record February l8.
The market for insurance stocks has
been very dull since the first of the
year. Prices have held steady with
some advance in individual issues. A
number of companies, which deferred
action on dividends in the Summer and
Fall of 1882, have resumed dividend