Evening star., 1934-11-19
STEADY ADVANCES
|NLOCAL BUSINESS
Postal Receipts High for
Month-Department Store
Trade Moves Forward.
BY EDWARD C. STONE.

lSdQlIlR DuSlIlSSS UdTOlltleIS. FISuIcS
just compiled covering the situation
here in October reveal the latest
progress.
The Washington Post Office reported
total postal receipts during the month
as $524,327. This was the highest fig
ure attained since last December, was
$90,867 higher than October of this
year and a gain of S57,9l7 over Oc-
tober a year ago. Postal receipts are
always a guide to expanding business
and the reports for several months
have revealed a favorable uptrend.
Department store trade in Wash
ington has been moving forward very
fast for many weeks. The latest index
on department stores sales in the Cap
ital covering October business stood at
1929 against I'LL in October, 1888,
and 1910 in September of this year.
The stores here reported percentage
gain of % per cent over the like period
a year ago.
Pepco Report Shows Increase.
The Potomac Electric Power Co. re-
ported the kiloWatt-hour output for
the District in October as AZ 1856 ,671
against 4O,6O1, $40 in September and
only 30,791,8 III October, 1888 This
Jump of about 100000 kiloWatt-
hours is significant. Recently the re-
ports of the Chesapeake & Potomac
Telephone Co. have noted the same
upward tendency both the number
of telephones in service in Washing
ton and the number Of calls per day
showing substantial gains.
Check transactions reported by the
Washington Clearing House ASSocia-
ton back up the other business ba-
rometers and are particularly favor
able. During October clearingS here
were about Sl0,000,O00 above the total
for October. 1898, and nearly that
amount ahead of the September re-
port this year. They were the highest
Of any month in 1884
To these encouraging indicators
may be added the recent report of a
S20,000,000 gain in bank deposits in
the city in the period from June 80
to OCTOBER II, and the rapidly increas-
ing interest in the better housing
campaign. The recent expansion in
loans has been widespread and is
helping all sections of the city.
That the present improved condi-
tions will continue the rest of the year
is made certain by the approach of
holiday trade.
Much Dividend Talk Heard.
Directors of the Capital Transit Co..
are due to hold a regular meeting the
last of this month. To the Stockhold-
ers this is considered a particularly
important session. In case the COM
pany should resume payment of some
kind of a dividend to be distributed
the first of the year the action vot-
ing it would have to be taken at the
next meeting In other words, such
a dividend would have to be declared
about a month in advance, on account
of closing the books and arranging
for distribution of the checks.
AS time goes on shareholders are
talking more and more about resump-
ton of dividends. In September Capt.
tai Transit reported net earnings of
S55,87467. This was in line with
many other remarkably favorable
statements for other months. For the
first nine months of 1884 the street
car company reported net earnings
totaling $710,94465.
The October earnings will be re-
ported in a few days to the Public
Utilities Commission. The first year
of operations under the consolidation
of the two street car systems ends this
month 1t has been wonderful year
from the standpoint Of revived earn
ings.
The company has plea before the
Utilities Commission to increase the
figures for depreciation. The directors
are said to be anxious to get a ruling
on this application before they act on
dividends. At the same time the
shareholders freely express the opinion
in the financial district that they
should be given some sort of dividend
soon, even if small one. The earn
ings warrant it, they say. That's why
they are awaiting the next meeting so
anxiously.
Clifford Talks of Phone Probe.
"In business as extensive as ours,
which so vitally concerns so many
people, the public has right to the
fullest information as to how its af-
fairs are conducted" Walter S. Clifford,
president of the American Telephone
& Telegraph Co. stated in reference to
the Federal Trade Commissions plan
to investigate the Bell System. I'VE,
therefore, have no objections to inveS-
tigation by properly constituted au-
thorities. We have no skeletons in
our closet.
I'VE are primarily concerned with
furnishing the best possible telephone
at
sistent with fair treatment of en-
ployes and of those who have invested
their savings in the business.
I'VE believe there is no conflict be-
tween our aim and the aim of the
Federal Communications Commission,
and We welcome the opportunity to
place before that body all the facts as
to the manner in which our business is
conducted"
Today'S Trading on Exchange.
The weeks business on the Wash
1ngton Stock Exchange opened with
$500 Capital Traction IS selling at
80, unchanged. Anacostia & Potomac
r. R. 5s also appeared on the board,
$1,000 moving at 78$4.
Riggs National Bank common stock
sold at the extent of II shares at 206
up a point from the last sale. An
other bank stock was also out, 10
shares of Bank of Bethesda changing
ownership at Is.
Bid and asked prices on Mergen-
thaler Linotype were nearer together
today than at any time since the an
nual report came out The bid was
raised to 2614 and the asked price
lowered from 30 to %. No sales.
American Stores Sales Up.
Sales of American Stores Co. for the
five weeks ending November 3 were
S10,735, $50, against S10,683 ,643 in the
same period las year, an increase of
$52,217 or 0.4 per cent. For the 10
months ended November sales were
as above last year.
Pennsylvania Railroad reports for
nine months ended September 80,
1884. net income of S12,293,572 after
taxes and charges, equal to SO cents
a share mar S51( m IL 167 6Q6 shares