Evening star., 1935-04-03
BUCKLEY HONORED
BY LOAN LEAGUE
D. C. Building Association
Leader Appointed to Ap-
praisers' Board.
BY EDWARD C. STONE.

NauOn3l permanent bullulIlS ASoU-
citation, GAG Ninth street, has been
made a member of the Board of Gov
ernors of the newly organized So
ciety of Residential Appraisers, ac-
cording to word reaching Vie financial
district from Chicago headquarters
today. The society has IS members
on the board chosen from different
sections of the country by the head
of the United States Building and
Loan League, which is sponsoring
the activities of the new organization.
The purpose of the organization
Is to collect current information on
the various factors entering into the
long-term value of a piece of resi-
Dental property" said Mr.. Buckley,
especially in the case of a small
unit residential property, the one, two
or three family home. The appraiser
up to now has been doing the work,
with his background of experience,
for the real estate broker and is
thus Influenced by the optimistic or
pessimistic color of the market.
Such biaSeS initiate against the
reasonable valuation of a home for
long period of years and there is
feeling today, when more and more
emphasis is on the long-term home
loan, that some specialized knowledge
of the factors operating here is de-
sirable. The society will attempt to
provide that knowledge by current
publications and other means of dis
tributing its information"
Mr.. Buckley said that membership
in the society is not confined to those
appraising homes for building and
loan associations. but is open to all
interested in appraising. He said
that special welcome would be given
to those who are doing appraising
for the home lending programs of
insurance companies and mutual saw
ings banks.
Net Incomes Reflect Upturn.
That February was a highly salts
factory month from the standpoint of
earnings by the public utility corpora
tions in Washington is revealed in
nutshell summary of the figures filed
with the Public Utilities Commission.
January and February combined
make an equally good showing.
The Washington Gas Light Co. re-
ported net earnings in February of
$207,392 against S174,342 in Febru-
ary, 1884, an increase of $33,O5O For
the two months net totaled S344,939
against S33,657 year ago, up S1l ,280.
Potomac Electric Powers net in
February was S339,283.26 against
S364.143.18, off $2485992 Two
months, S743, 3,521.21 against $685.
O28.08, drop of s21, SOC 81 in the like
period in 1884.
Chesapeake & Potomac Telephone
Co. reported February net of S146, ,889
against $l59, ,407 in the previous year.
Net for the first two months of 1885
amounted to $305,818 against 1922
854. Both the number of phones in
use and the number If calls COM
pleted were higher than last year.
Georgetown Gas Light Co. reported
February net as S6,132 against S4,029
in the second month of 1884, higher
by $2,103. First two months net in
come was S9825 against S6,436, an
increase of $3.50.
Washington Rapid Transit scored
substantial improvement in February
over the same month last year. In
the first two months the bus COM
pany turned deficit into profit, re-
porting an improvement of s3,566.29.
Aside from utility earnings, depart
ment store sales were 1872 per cent
and 16 per cent for the first two
months; insurance sales were 35 per
cent ahead of last year in February
and 81 per cent for the two months,
and bank clearings were also far above
the 1884 marks.
President Graham Improves.
Officials of the Hamilton National
Bank have just received word from
the president of the institution, Ed
win c. Graham, that he is greatly
improved in health at his Winter
residence in Florida. Mr.. Graham
has been in the South for several
weeks on account of his health, and
the balmy breezes have proved most
beneficial to him. He is expected to
return to Washington the latter part
of this month and will resume regular
duties at the bank at that time
The three trustees winding up the
affairs of the old Franklin National
Bank have sent notices to all de-
positors telling them the exact
amount due them from the assets
now being liquidated. The notices
are in the form of participating cer-
tificates' which are proofs of claims
for the remaining 35 percent of un-
paid assets. When theOclaims will
be paid is not stated, in fact the date
is not yet known The Franklin paid
IS per cent at the time the bank
became a unit in the City Bank.
j. F. Fogarty, president of the
North American Co., of which the
Potomac Electric Power and WASH
ington Railway g. Electric Cos. are
units, has given his whole-hearted
support to proposals for Federal reg
ulation of the utilities as presented
by Wendell l.. Willkie, president of
the Commonwealth & Southern Corp,
to the House Committee on Interstate
and Foreign Commerce. Mr.. Fogarty
expressed himself as in full accord
with the proposals, which he consid-
cred sound in every respect. At the
same time the electric power COM
panies have come out strongly against
the Federal Power Commissions re-
port and declare they can furnish all
the power needed in all parts of the
country.
$1,559, ,569, 300 Bonds Switched.
Treasury reports state that S1,559,-
$4,000 of the fourth Liberty loan
bonds called for redemption on April
Is have been exchanged for the 27a
per cent Treasury bonds. Subscrip-
tions reported by the Richmond Re
serve Bank totaled s38 8,681, 100, and
subscriptions made direct to the
Treasury so far totaled S38,747,850.
It is announced that the Treasury will
do no more financing until June Is
The recent offering of $4,000, 900
272-day Treasury bills was oversub-
scribed, the total being $119,428, 900
of which $50, 0,018, 900 was accepted.
The Treasury and the Post Office
Department report that people in the
Capital have purchased baby bonds
amounting to a total Of s376,425
The total for the whole country SC