Evening star., 1933-01-31
TELEPHONE INCOME !
DECLINES $29,624|
G. & P. Makes Annual Re-
port Showing Decrease
in Net Return.
BY EDWARD C. STONE.


BY EDWARD C. STONE.
Total net operating revenues of the
Chesapeake & Potomac Telephone Co.
for 1882 amounted to $2,793, ,022 against
$3,043,646 in the previous year, drop
OF $250,624, according to the annual
financial statement filed today with the
Public Utility Commission. Balance
before dividends for 1892, after de-
Quoting taxes, uncollectableS, interest
and rents, amounted to s1,687 SAG as
During the year 1882 telephone
operating revenues totaled $9,341 ,l30 in
comparison with $9,232, ,628, while tele-
phone operating expenses called for
S6,548,108 against $6,179,982, showing
that while operating revenues increased
during the year, expenses also were
enough larger so that the net return
was lower
The telephone company reported a
total operating income Of $l,978, 502
and net nom operating income OF
S48.738, against $2,29l TAI and $42,541,
respectively, a year ago. Taxes were
$9,508 larger than in 1881.
Last year 230.803,000 telephone calls
were made, against 220, ,786000 in the
previous year, a gain Of 10,017,000 over
1881. At the close Of December Wash
ington was served by 1929 tele-
phones, net increase of 241 phones
during the year. better showing than
that of most of the other important
telephone companies In the United
States that are connected with the
Bell System.
The December report was also filed
today. showing net earnings before
dividends of s139,l71 against sl4o, ,233
In December, 1881. Operating revenues
were s793,004 against $804.586 in De-
cember, 1881. Operating expenses re-
ouired S55l ,488 compared with $576.-
2l8, leaving net operating revenues of
S241,516 as compared with 1928, 1868, a
gain during the month of $13,148.
There was also a net gain of 621 in
the number of telephones connected,
while total phone calls numbered TO-
18l 900 against 20,524 900 in December.
1881.
January Bank Clearings on.
Bank clearings for the first month OF
the present year were reported today by
the manager Of the Washington Clear
ing House Association. Charles E.
Bright, the figures showing a decrease
from the corresponding month a year
ego.
Washington clearings totaled s72,-
567 ,289 in comparison with $76, 169,-
74l01 in December, 1892, and $92,-
855, 1869 IN January, 1882. this last
figure being the highest for any month
during the year.
There was much larger decrease in
clearings between December, 1881, and
January 1882, than between the month
now ending and last month. This is
considered an encouraging sign.
1t is believed in financial circles that
the January clearings may prove to be
the lowest of the present year. In
February Of last year local bank clear
tngs totaled S80,807, ,54454, a figure
which it will not be very difficult to
reach and pass this year.
Many local bankers are looking for
Improvement as Spring approaches. II
such expectations are realized, the up
turn will be reflected in bank clearings
as one of the first evidences Of bet
ter times. The 2-cent tax on checks
Is still keeping down the number Of
checks drawn SO that business in the
Capital is really better than the clear
ings figures might indicate. A year ago
the tax on checks was not in force.
New Gas Bonds Are Listed.
The Board of Governors of the Wash
ington Stock Exchange today listed the
new $500 900 issue of Washington Gas
Light S. 1858, for regular trading to-
morrow.
These new bonds were entered in the
unlisted department early this month
and were traded In extensively on q
when-iSSued basis. The new bonds have
now been issued, temporary certificates
already having been distributed, and
for that reason were transferred today
to the "big board"
In the unlisted department. securities
are called off only once week. Now
that they are in the regular list, they
will be called every day. There was
q lively demand for the new bonds from
the first day they were quoted.
Trading on the local exchange
opened today with five sales in Wash
ington Gas Light IS, series "A,". selling
at 1001a and in smaller denominations
at 1002s.
Washington Gas Light IS, series 3d."
also appeared in today's trading, $500
moving at 10315. Potomac Electric
st 112.
In the unlisted department there
was a $4,000 turnover in Washington
Gas SIS, 1858, at 94H, unchanged from
from last previous sale.
Ticker Club Enjoys Dinner.
Members of the Washington Ticker
Club held their annual dinner last eve
ming at the Chevy Chase Club the af-
fair being thoroughly enjoyed by large
representation of leading local brokers
and several special guests.
Chester W. Lockwood, president of the
club, was host, and presided at the BAN
quent. The guest of honor was William
H. Maclay, assistant secretary Of the
New York Stock Exchange.
Brief talks relative to the brokerage
business and its many interesting prob
lens were made by President Lockwood,
Karl w. Corby and A. Chester Flather
Mr. Corby is vice president of the club
and Mr.. F'lather was president last
year now being on the Board of Gov
ernors.
The Ticker Club includes members
from the local offices of New York
Stock Exchange firms. The annual
dinner has come to be part of the
years regular program.
Heard in Financial District.
G. Bowie Chapman, resident partner
OF Hartman & Co. leaves here tomor-
Springs, Ark.
Checks were received here today from
Chaplin Sacks Co. covering the quarterly
dividend of So per share on the cor
poration's preferred stock.
General wholesale commodity index
of the National Fertilizer Association
stood at 56.3 on January % compared
with 500 the week previous 58.1 q
month ago and 63.9 year ago.