Evening star., 1935-08-31
c. C.&P.PH0NE NET
+. ADVANCES IN JULY
Seven Months Earnings
Also Exceed 1884 Period,
Report Reveals.
BY EDWARD C. STONE.

e. Potomac Telephone Co. in July was
sl45,2l9, compared with $l30,976 in
July, 1894, an increase of $14,243, ac-
cording to the monthly statement filed
with the Public Utilities Commission
today. The report, which is consid-
cred one of the best barometers of
business in Washington, reveals steady
progress in recovery, net increase OF
1884 telephones being reported over
the number in service at the end of
July, 1884.
Operating revenues in July amounted
TO 1927, 1898. in comparison with $775,-
224 in July of last year, substantial
gain. Operating expenses totaled
S600,804, as against $564,601. in the
same month in 1884. Operating taxes
were slightly lower than last year,
these operating deductions leaving a
net operating income of Sl6s,957,
while this item last year was s153,072.
Incorporating income was about
$1,000 higher than last year. From
total gross income of $170,510 interest
deductions of $25,291 were made,
against $21, $50 year ago, leaving the
above balance before dividends of
more than $145,000.
The statement further shows that
telephone calls in Washington in
creased In July, there having been
2O,s33,oo calls made during the
month, as compared with 17,88o,OoO
calls during July, 1884.
H.
Chesapeake & Potomac Telephone
Co. earnings in the first seven months
of 1885 were also reported and were
slightly higher than last year. Oper-
atlng revenues totaled $5,S47,243,
against $5,682,242.
Operating expenses also climbed,
standing at s4,107,422 as compared
with $3,975,524. Taxes were about
$4,000 higher than last year, leaving
a net operating income of 1928, ,689,
in comparison with $l,270,712 in the
like period in 1884.
Total gross was practically the same
as the operating net. Interest deduc-
tions of $175,442 were made this year
against s150,779 last, resulting in
total seven months net of 81 ,124, LAT
rs compared with $l,l2o,389 up to
August In 1884, or q modest gain OF
s3,758.
In the first seven months of this
year 6,542 new telephones were con-
nected, while last year up to August
i there had been net gain OF only
1881. Total calls in the same period
numbered $50, ,2s7 900 this year against
140, 0,482 900 in the corresponding period
last year, a pickup Of 9.805,000 calls.
Other Reports Favorable.
Todays report by the c. & P. Tele-
phone Co. is the last covering the
financial results of July utility opera
tions in the Capital. Washington
Rapid Transit bus lines reported sub
stantial improvement over July a year
ago.
J The Washington Gas Light Co.
reported business not quite up to last
year in July, but net income of
e746,144 in the first seven months Of
1885.
+ Georgetown Gas earnings slumped
In July, but were considerably ahead
of last years net in the first seven
months. Capital Transit Co. reported
O July gain in net earnings of $20,-
g85.51 over July, 1884, and net profit
up to August l of s582,117.26, highly
satisfactory but per cent under the
same period last year, due to heavier
expenses.
Advertising Program Ready.
Robertson Griswold, vice president
of the Maryland Trust Co., will be one
Of the leading speakers at the coming
convention of the Financial Adver-
tisers' Association at Atlantic City.
Bank advertising men here are much
interested in this meeting.
j. Blake Lowe, first vice president
of the Equitable Trust Co., also of
Baltimore, will speak on "The Future
of Trust Solicitation. Many other ad-
dresses will be presented on banking
and legal subjects. The program re-
lating directly to advertising includes:
Would Cooperative Trust Advertis-
ing Help in Trust Solicitation?"-A.
Key Foster, assistant trust officer,
Birmingham Trust g. Savings Co.,
Birmingham, Ala.
ITO What Extent Does Direct Mail
Advertising Help in Trust Solicitation
work?"-Fontaipe LeMaistre. assistant
trust officer, Barnett National Bank,
Jacksonville, Fla.
What Form and Style of Advertis-
ing Is Most Helpful in Trust Solicita-
ton Work?"-Harvey H. Page, second
vice president, Northern Trust Co.,
Chicago.
Financial District Gossip.
Charles F. Swift, president of Swift
international, has sent letter to the
Washington Office stating that tax
suit filed against one of the company's
subsidiaries in Argentina is of linor
Importance and will have no ap-
preciable effect on the company's
earnings.
The Washington Office of Investors
Syndicate has received word from the
head Office stating that the average
citizens real income for July, 1885,
was higher than year ago. The up
ward trend is accounted for by the
continued decline In food costs.
A. p. Giannini, head of the Bank
Of America, predicts that interstate
branch banking will be the next move
in American financial circles, follow
ing the recently enacted new bank
ing law, which he considers the most
important legislation of the kind since
the formation of the Federal Reserve
Board"
Speaking Of the outlook for the
North American Co., President Fogarty
said: 1.-THE trend of our business Is
encouraging, and the North American
Co. and its subsidiaries are in
strong financial position. Earnings
have been consistently in excess of
dividend requirements at current rates
and have shown improvement since
the beginning Of the year."