Evening star., 1934-02-01

Item IN 1883 TO-
tailed s2,s37,248, as compared with So
603,3sl. or an improvement I;. 01 sz35,.
S57 during the IL months. With the
gain in net operating revenues. taxes
advanced S757,098 against S696,25o, or
an increase of S60,843,
Net operating income was higher,
s2.o8o.150. in comparison with Sl.907.-
1876, an advance Of Sl73.0l4. Nom
operating income took a real tumble,
being off s43.3l4 The years gross was
higher by s1297O0, while interest de-
ductions called for s37,496 more than
year ago.
17s,76l Phones In Service.
During the wear Assoc telephones
were connected and 46.470 disconnected,
q decrease of S62 Total calls num-
bered 224737000 against 23o8030 900 IN
the previous year. The year ended Win
178,761 phones in service.
The Chesapeake e. Potomac report
for December was also excellent. Bal
ance before dividends totaled sl62.722
against S139.177 in December 1882,
a gain Of S23.60 and there was net
gain of 1.25O telephones in service. The
general manager of the company IS
John A. Remon who has had long and
wide experience in telephone operations.
For the month of December operating
revenues showed An increase Of S6.869.
while operating expenses for the same
month showed decrease Of S18545 be-
low the same period in 1882. Net oper-
ating revenues for December, 1888. we're
s248,430, as compared with S223,0l6 for
December, 1882
Net operating income for December
was Sl85.577. For the similar period
the previous year it was Sl63,283. The
total gross income for the month was
u-1 after interest GP6llC-
tions of s23173. left the balance OF
Sl62772
Bankers Plan New York Trip.
A large delegation of Washington
bankers will attend the annual banquet
of New York Chapter. American 1nstl-
tute of Banking, to be held Saturday
evening. Among those who are ex-
pecting to attend from here are Rich
ard A. Norris of the Lincoln National
Bank. who was president of Washing
ton Chapter last year; l. j. Roberts,
assistant cashier. Riggs National Bank;
F. P. H. Siddons, secretary, American
Security g. Trust Co. and first vice
president of the District Bankers As
sociation; Hilery j. Hoskinson. vice
president, Riggs National; Wilmer j.
Waller, vice president, Hamilton Ma
tional: James A. Soper, vice president
and cashier Lincoln National. and
and Miss Constance Fogle chairman
Of the Women's Committee of Wash
tngton Chapter.
A. S. Goulden & Co. investment firm
in the Woodward Building, announces
that Prof. o. M. w. Sprague has been
added to the advisory board OF Massa-
chusetts Investors Trust. Inc. DR..
Sprague recently resigned as an advisor
in the Treasury Department here and
peft od n Harvard his lpP-
lures on banking and finance He was
formerly economic advisor to the Bank
of England, and is now an economic
advisor to General Motors.
Robert c. Jones & Co.. investment
bankers. with Offices in the Shoreham
Building, announce that John r.
Wheeler has joined their organization.
Mr.. Wheeler. who is a member of
Chevy Chase Club, attended George
Washington University, Catholic Uni
versity and Princeton University and
also spent year in Paris at the Ecole
Speciale d'Architecture.
Throngs Watch Stock Quotations.
The opening of the New York Stock
Exchange today drew hundreds of in
vestors and spectators to the local
board rooms the main reason being
the Presidents action in devaluation
of the dollar to 5906 per cent of gold
parity and the announcement that the
Treasury price of gold bullion has been
fixed at s35 an ounce.
The market started off with a rush,
the translux hardly being able to keep
I'D with the quotations. Stocks came
out in very large blocks and most OF
them at higher prices. OF the recent
busy openings todays was the livellest.
That the latest move toward stablll,
cation of the dollar was CONSIDERED
4 favorable step was clearly implied
from the action of the market Later
in the session the tickers slowed up
somewhat but early trading indicated
an extra heavy days share total.
d. c. Exchange Trading Light.
The Washington stock market failed
to catch the spirit of the big board.
While New York was establishing new
speed records Washington scored the
smallest business record so far TINS
year. Only one stock appeared on the
local board and no bonds. The stock
was Potomac Electric Power, five shares
changing hands at the strong price OF
III. The bid on Capital Traction was
raised to 1872 today. but there were no
sales. the asked price remaining at II.
International Business Machines
CORPORATION. which has Washington
Office has declared a regular quarterly
dividend of S1.50 per share on the
capital stock. payable April 10 to hold
ers of record March %. The dividend
was declared at this time because OF
the improbability of a quorum at the
February 81 meeting.
American Tobacco Co. has declared
the regular quarterly dividends OF 81 70
each on the common and common
stocks. both PAYABLE March l to stock
of record February 10.
Heard in Financial District.
Clarence F. Norment. sr., who Is
chairman of the board of directors OF
the National Bank of Washington and
of the Norfolk & Washington Steam
boat Co. and who has been confined to
his residence at the Wardman Park
Hotel with illness, is greatly improved.
Frank NJ Hall, manager of the
CAPITAL office of Graham, Parsons &
Co. and Mrs. Hall. sailed today. for
an extended vacation in the West
Indies.
A dividend of 20 cents per share will
be paid to holders of Colonial Investors
Shares series A. on February Is, 1884,
at the Union Trust Co of Maryland,
Baltimore, trustee.
President Roosevelt has signed the
act providing for Federal guarantee OF
principal and interest on farm loan
bonds.
The PENNSYLVANIA Railroad will prob
ably earn around 81 share for 1884
If official estimates of gross revenues
for the road materialiZe. The Penn
sylvania Railroads gross earnings for
1884 will be 25 per cent to 80 per cent
ahead of 1888. or he will be very
badlv disappointed" Gen. w. w. After.