Evening star., 1934-06-01
Business in ID. c. Improves

Business in ID. c. Improves.
Using the latest report of the
Chesapeake e. Potomac Telephone Co.
as a business barometer, there are
further indications that times are
getting better and better Yester-
days report revealed balance before
dividends of s17O,542 against S142 900
in April, 1888, a gain in the month
under review of S27642
Operating revenues in April totaled
1891, ,587 in comparison with S760,3
in the like month year ago. Operat-
ing expenses called for S574 356
against S530505. leaving net revenues
from operations of S192 $40 as COM
pared with Sl69.855 in April of last
year.
Interest deductions from gross
totaled s22059 in comparison with
S27033 in April, 1888. leaving the
above mentioned gain. There was a
net gain in the number of telephones
connected during the month of 1875
instruments against a loss in April,
1888, of $50.
The four months statment also
filed yesterday with the Public Utili-
ties Commission, indicates steadily
improving business in this territory
Operating revenues totaled s3,247 029
against s3036,569 in the same period
last year Operating expenses were
heavier. being s2.260.012 compared
with S2.165.719. Taxes were con-
siderably heavier.
After interest and all other de-
ductions net income for the four
months stood at S649 483 as against
S535986 year ago. or an increase in
earnings so far this year of Sl13.497.
There has been a net gain of 3.758
telephones installed against loss by
dsConnectionS of 1866 in the similar
four months a year ago. The number
of telephone calls in the first four
months of this year was 80.279,000
against 1885, 900 a year ago.
Bank Deposits Higher.
Time deposits in % regularly re-
porting member banks in the Federal
Reserve Bank of Richmond and ag-
gregate deposits in II mutual savings
banks in Baltimore totaled S326,227.-
52l at the end Of April. "a higher
figure by approximately nine-tenths Of
! per cent than either 1923 25l 943 in
time and savings deposits at the end
of March this year. or s323,369,742 at
the end of April last year"
Discussing the failure of employ
ment conditions to show any material
change, the Richmond Bank says that
''the biggest obstacle IN the way of in
creased employment seems to be in
activity in the construction field. A
considerable amount of public build
ing is going on, but activity in private
work continues at a very low level.
People with surplus funds appear
to be reluctant to make mortgage
loans under present uncertain condl-
tions in the real estate market. and
buyers seem to be equally reluctant in
assuming longtime obligations for
homes in the face of doubt as to the
permanency of their jobs. So many
people have had to give up homes at
material loss to themselves since the
depression began that familieSi which
in ordinary times would buy or build
residences. are now afraid to take on
the obligations involved"
Encouraging is the report of to-
bacco sales in Virginia. which showed
that during the season Old Dominion
markets sold 120,712,052 pounds for a
total of S16.334. 985. or an average
price of 1888 per 100 pounds. as COM
pared with sales last year of 63 020. .968
pounds for S5.483,242. or an average
of S87O per 100 pounds The sea-
sons average was the highest since
1929
Heard in Financial District.
Capital Traction stock sold at "a
on the Washington Stock Exchange
today. while $1,000 Traction bonds
moved at 83 Two $1,000 sales in
Washington Railway & Electric 4s
were recorded at 95 and 94A.
The Potomac Electric Power stocks
and Washington Railway & Electric
issues paid their regular dividends
today. A host of dividend checks
from out-of-town corporations were
also received in the morning mails
type paid a 81 quarterly dividend yes
terday.
Clearings in Baltimore during May
totaled S235 .105.570 against S152, 3d.
036 in May 1888
The Irving Trust Co. has declared
the regular quarterly dividend of rs
cents per share.
Assets of the P g. w Credit Cor
poration. a hquidating concern for
the defunct brokerage house of Prince
& Whitley Co., which formerly had
an Office in Washington, were sold
for Sl64,000 to the Caleph Corpora
ton of l20 Broadway. This was the
only bid submitted for the entire
block which was offered at a mini