Evening star., 1935-09-30


C. & p. Phone Net Higher.
Operating revenues of the Chesa-
peake g. Potomac Telephone Co. in
August amounted to 1921, ,186 against
S773, ,083 in August year ago, accord
ing to the monthly statement filed
today with the Public Utilities Com
mission.
Operating expenses called for $780,
697 compared with s570,215 in the like
month last year. leaving net operating
revenues of $228,489 against $202,868
a year ago. Taxes were slightly lower
than in August, 1884.
Interest deductions in August this
year required $24,882 against S20,7S9
last year, which, deducted from gross,
left a net income of S146,60l in COM
parison with the considerably lower
figure of $l24,166 in the same month
last year.
Washington was served by 196, ,099
telephones on August 81. This was a
net increase of 12.781 telephones over
the number in service at the end of
August, 1884.
Telephone calls in Washington also
increased in August, there having been
1881 900 calls made during the month
as compared with 17.431 900 calls dur
ing August, 1884.
The telephone company's report for
the first eight months of this year
showed total operating revenues of
$6,668.429 against $6,455,325 a year
ago, operating expenses Of $4,700,119
compared with $4,545, ,739, leaving after
the deduction of taxes. an operating
income of S1,470,507 in comparison
with $1,415,725.
After all other deductions, including
interest, the telephone company re-
ported a balance before dividends Of
$1,270,748 compared with sl,244, ,555 in
the like 1884 period, substantial gain
in net earnings SO far this year.
Bank Directors Reelected.
At the annual meeting of the stock
holders of the Bank of Commerce &
Savings, held in Alexandria this fore
noon, the following directors were re-
elected:
Maurice D. Rosenberg, Joseph
Sanders, Irwin Owings, John M. Rior-
don, Thomas j. Groom, Joseph H.
Milans, Dr.. Clarence A. Weaver,
Thomas N. Beavers, William L. Bush,
j. E. Collifiower, E. T. Chewing, A.
s. Galley. Harry E. Mayer, j. F.
Maury. Vernon G. Owen and Frank
Owings.
President Rosenberg reported marked
progress made during the past year,
calling attention especially to the
business being built up by the new
branch located at North Capitol and
II streets, not far from the Govern
ment Printing Office.
Insurance Office 80 Years Old.
H. Lawrence Choate, director of the
Washington agency Of the Mutual
Benefit Life Insurance Co. of New Jer-
sey, announced today that the Office
here is now celebrating its Goth an
niversary. In noting the event, a spe-
cial luncheon will be held at the Carl
ton Hotel tomorrow, which will be ad-
dressed by Edward E. Rhodes, vice
president of the company and one of
the most prominent insurance men in
the country.
On the Washington Stock Exchange
to-day Is shares of Woodward &
Lothrop common stock sold at 40,
against the last previous sale at 33,
gain OF 7 full points. National Bank
OF Washington stock was strong on a
sale at los. Capital Transit stock
opened the week with a small sale at
Is. closing with 18 bid and 1914 asked.
Legal accounting and other major
problems imposed upon the American
corporation by the Federal Securities
act and other legislation enacted in
washington will be discussed at a
conference on finance taxation to be
held by the American Management
Association in New York October 9
and 10 next. Among the speakers will
be Chairman James M. Lands of the
Securities Exchange Commission,
President Charles r. Gay of the New
York Stock Exchange and John D.
Lonsdale, former president Of the
American Bankers Association.
Power Plan Advocated.
Holders of Manitoba Power Co. 51a
per cent first mortgage bonds, series
A and series B, are urged today to
support the consolidation and read
justment plan for the five companies
In the Winnepeg electric group. The
other four companies have already
agreed to the plan. II the plan be-
comes effective there will be an ex-
change into new general mortgage
bonds on which interest will accrue
from January 2, 1885, and to be paid
at the time the exchange is made.
Both large and small holders are asked
to send in their proxies before the