Evening star., 1933-11-18
POTOMAC ELECTRIC
BUSINESS EXPANDS
New Government Demands
Call for More Lighting and
Air Equipment.
BY EDWARD c. STONE.

Washington Railway d Electric Co.
with the Capital Traction Co. PreSi-
dent Dame says:
The new Buzzard Point steam elec-
trio generating station of Potomac Elec-
trio Power Co. was placed in operation
en- November 16, 1888, following an in
Spection by a party of Federal Govern
ment and District Of Columbia officials
and business and residential customers.
The new plant has an initial capacity of
50 900 kilowatts and viii be the base load
station of the Washington system in
cOnonnection with the Bennlng steam
plant and the hydroelectric supply from
Safe Harbor.
The major portion of the local trans
portation in the District of Columbia
and ajacent sections of Maryland has
hitherto been conducted by Washington
Railway e. Electric Co., subsidiary of
the North American Co., and the Cap
ital Traction Co. Under authority of a
joint resolution of Congress, the trans
portation properties Of these companies
will be unified on December /, 1888,
under the ownership of a new company,
Capital Transit Co. Washington Rail-
way g. Electric Co. will have a substan-
tial stock interest in the new company
which, however, will not be classed as
a subsidiary
New business for Potomac Electric
Power Co. from the Federal Govern
ment includes electric service for its
new central heating plant and for the
new Department of Justice Building.
The latter will also have air condition
ing. New lighting units have been
placed in the Reconstruction Finance
Corporations quarters and air condi-
tioning equipment has been installed
In the four principal offices.
Other recent air conditioning in
stallations were in three chain drug
stores, the beauty shop of a depart
ment store, a radio broadcasting sta
tion and three residences. while two of
Washington's largest hotels have placed
orders for air conditioning equipment.
Sales of electric ranges and refrig-
orators and other appliances have been
greatly stimulated by the cooperative
promotional efforts Of the company
with distributors, dealers and the Elec-
trical League of Washington"
MerganthaIer Officers for 1894.
The complete list of officers of the
Mergenthaler Linotype Co.. as elected
at the annual meeting. includes:
Norman Dodge, president; joseph T.
Mackay, executive vice president and
treasurer; Frederic D. McKenney OF
Washington. vice president and gen.
eral counsel; Conrad A. Hanson. vice
president in charge of works Thomas
j. Mercer. vice president in charge of
in charge OF sales William W, Welsh
secretary: John W. Reid. assistant sec
nolds, assistant secretary and treas
urer; William H Moore, assistant sec
retary and treasurer, and Benjamin c.
Bishop, assistant secretary and treas
urer.
Directors for the coming year are
Albert H. Sawyer, Ogden L. Mills, Nor
man Dodge, Ogden NJ Reid, Frederic
D. McKenney. Joseph T. Mackey, Roy
G: Gasser, George Hewitt Myers Of
Notes From Linotype Report.
President Dodge's annual report with
the financial statement, which has al
ready been summarized in The Star,
will be mailed to Washington's hun
dreds of stockholders as soon as copies
can be bound
The difficulties of making collections
IN foreign markets and the enbargoes
existing in many countries against the
remission Of moneys beyond their
boundaries, have frozen in those coua-
tries cash which the company could
otherwise bring into the United States
Throughout the entire Linotype Or
ganization all possible economies, con-
sistent with efficient operation, were
in effect, while continuing to employees
rates of pay as high as the substantial
losses incurred by the company would
permit
During the year there were developed
and placed upon the market many new
and valuable improvements, among
these being the all-purpose Linotype,
greatly extending the range of typo
graphic composition.
Bank Liquidation Centralized.
The work of iquidating the frozen
mergers is now being centralized by
Norman c. Hamilton and Cary A. Har-
dee, recently appointed receivers.
Mr.. Hamilton, who assumed his
duties as receiver for the District Ma
tional few days ago, has now added
the Northeast Savings Banks frozen
assets to his list. The assets and all
records have been moved to the Dis
trict National building, where the work
connected with the two former banks
will be carried on under the same roof
Cary A. Hardee, former Governor of
Florida, who was recently made re-
sslYrr Of the Federal American Ma
s-ssssi Bank g. Trust Co., has added the
Ivy Chase Savings Bank to his
sphere of activity, relieving the con-
servator from further responsibility.
John c. Walker, former president of
the bank. was the conservator.
The Chevy Chase Savings Bank is
a ranph nf Diuc- Na+iOy,n1 ~
the Northeast Savings Bank is a unit
of the Hamilton National. The taking
over of the frozen assets has nothing
to do with these two going branches
in any way. Having two receivers
thaw out the assets Of several different
banks, however cuts the cost of liquida-
ton noticeably. 1t is understood that
further additions are to be made to
Mr.. Hamilton's list in the near future.
Heard in Financial District.
The flduciaries section of the Dis
trict Bankers Association held its No
vember meeting in the American Sc
curity e. Trust Building late yester-
day afternoon. T. Stanley Holland,
chairman of the section, was in the
chair. Matters of vital interest to the
trust business were discussed.
444C WI EAllAd G5lCNlIlI q TONCI W,
has declared the regular quarterly
dividend of $3.50 per share on the 6
per cent preferred stock. The dividend
is payable December 20 to stock of
record November %
Pennsylvania Railroad reports for
nine months ended September 30,
1888, net income OF $l3,223,846 after
taxes and charges, equal to ST. a share
lpar $500 on 1916, 500 shares of stock.
This compares With S8,926, l06, or SO
cents a share, on 13.167 ,693 shares in
first nine months of 1892.
Scoring one of the widest gains made
this year the weekly food index, COM
piled by Dun &, Bradstreet Inc, ad-
vanced cents over the previous week,
and stands 81 for November IA The
cumulative increase over the past four
weeks now amounts to IL cents, or 6.4
per cent, and marks the highest point
reached since the peak of food prices