Evening star., 1934-04-26
BANKERS ARE TOLD
PLANSFOR SESSION
lD TRANSACTIONS ON The NEW YORK STOCK EXCHANGE
Program for White Sulphur
Meeting Stressed by
Dinner Speakers.
BY EDWARD c. STONE.


socation at special dinner last night
at the Columbia Country Club
Thomas j. Groom. chairman OF the
General Committee, stressed the i'm
portance of the subjects selected for
discussion at White Sulphur Springs
during the fOur-day meet, mentioned
the many entertainment features and
presented an alluring picture of the
Greenbrier Hotel and its charming
surroundings. He urged an outpour-
ing OF bank officers and directors and
their families
Karl w. Corby arranged the pre-
convention dinner and presented
Frank j. Hogan as POSTMASTER. At
torney Hogan. who serves as general
counsel of the District Bankers As
sociation without salary" as he said,
introduced score OF prominent Gov
ernment officials and other guests
The first speaker was Roger j.
Whiteford, counsel for the Hamilton
National Bank. He was followed by
Maurice D. Rosenberg who was presi-
dent of the association when the first
Out-of-toWn convention was held at
Deer Park, Md.
Recalling the difficulties encoun-
tered in arousing the interest of local
bankers in having a convention out
side OF the city. Mr.. Rosenberg called
attention to the many advantages
which have accrued from such gath
erings in the intervening years. He
made a strong appeal in behalf of
the meeting to be held at White
Sulphur Springs at the end of May.
A. B. A. Meeting Reviewed.
Robert V. Fleming gave a compre-
henSive review of the recent Spring
meeting of the American Bankers As
sociation Executive Council at Hot
Springs, Ark. The second vice presi-
dent of the national association
summed up the views of the A. B. A.
Council on the Federal Deposit Insur-
ance Corporation arousing especial
comment and attention.
AS the semi-annual meeting was only
last week, this address proved most
timely. A summary of the status of
legislation now pending in Congress
was of wide interest and Importance,
While his references to legislative mat
terS were up to the minute as he is
chairman of the National Leg 'slative
Association.
During the afternoon, local bankers
played golf for the Fleming Trophy.
the cup being won this year by w. w.
Spaid of w. B. Hibbs & Co. MIR.
Fleming was asked to presen his own
cup which he did. Other golf prize
winners were Charles H. Doing and
Barnum L. Cotton.
During the evening it was stated
that Wilmer J. Waller, chairman Of
the Program Committee, has his work
practically completed. Stanley G..
Holland has already arranged rare
card of sports, while Hilleary G. Hos
kinson says there will be nothing
lacking in the way of entertainment.
The other committee chairmen report
steady progress.
Gas Earnings S93,441 Higher.
The monthly report of the Wash
ington Gas Light Co., just filed with
the Public Utilities Commission. shows
operating revenues for March of
$685. compared with $542 ,939 in
March, 1888, an increase of 93441.
Operating expenses, including taxes
and uncollectible bills, increased S45,-
O48, this years figure being S401 SOB,
as against $356,460 in March a year
ago Net operating revenues. S234872,
were SAB 1913 higher than the figure,
S186479, in March, 1888.
Incorporating income showed a
gain of s578, producing a gross cor
pOrate income in March of S2425
as against Sl93,537 in the same month
of 1888. After interest deductions the
company reported a net income for
the month Of Sl7l 1903, compared with
S1O3,3 1854 in March, 1888, an increase
of 8444.
While the first quarter shows an in
crease in net income of s176,867 over
the first quarter of 1888, approximate
ly $4,000 of this increase is due to
reduction in interest charges as
against the first quarter of 1888. This
reduction results from the non-recur-
renee of interest charges arising from
the relnancing of January, 1888,
which operated to materially increase
interest deductions in the first quar-
ter of last year.
Net income in the first quarter of
1884 totaled S505, ,465, against s328,598
in the first quarter of 1893. an in
crease of Sl76,867. Sales of gas to-
tailed 2698,0940O cubic feet COM
pared with 1852 OFT 900 cubic feet in
the like period last year, gain of
346,0l700O, or 14.7 per cent.
Pepco Operating Income Up.
Operating revenues of the Potomac
Electric Power Co. in March totaled
81 ,002 460.21, against 1904, ,233 OIL in
nf
according to the financial statement
filed today with the Public Utilities
Commission. Operating expenses, how
ever were also higher. being $685.
1896 against S470,7 1853 26, up S124,-
63610 Net operating revenues
amounted to S407, ,O6O85 as compared
with s433,46 6975 year ago, drop of
$26 6,40890
Gross totaled s41827143. against
S444 706.9l, off S26.435.48 from March,
1888. Deductions called for S86. 10505.
against SIS, 5,195.71, an increase Of S10.-
90934. and leaving a net income of
1882 1868, in comparison with $685.
20. or a decrease of S37. .34482.
For the first three months of the
present year, the Potomac Electric
Power Co. reported net income of ST.
o971e4.46, against 1927, 1868, a de-
crease of Sl90,57217.
The monthly report of the George
town Gaslight Co., also filed with
the Public Utilities Commission. shows
a net income for the month. after
interest deduction, of S2282 as COM
pared with S2648 in March, 1893, a
decrease of s366.
Operating revenues increased S23,-
OF, this years figure being S146 GAG
as against S123 ,932 in Marcel a year
ago. Operating expenses, including
taxes and uncollectible bills, also
showed an increase. The years figure.
S141,1 ,188, was S22,764 greater than
operating expenses of Sll8,424 in
March, 1893.
Incorporating income increased from
s1,545 to S1,727, producing a gross cor
porate income of 81 ,488 as against ST.
053 in the same month of l933 In