Evening star., 1935-02-27
GUSTS IS NAMED
PERPETUAL CHIEF
Building Association Selects
Treasurer to Succeed
Late James Berry.
BY EDWARD C. STONE.

connected with the Perpetual Building
Association at Eleventh and E streets
northwest for about 80 years, has
been elected president of the institu-
ton, succeeding the late James Berry,
according to announcement made
today by Secretary Edward c. Baltz
The newly-elected president has been
treasurer of the company.
At the same meeting Arthur G.
Bishop, president of the District Title
Co., was elected chairman of the
board of directors. This position was
created at the time of Mr.. Berry's
death. Mr.. Bishop was vice president
Of the Perpetual. He has been on the
board for many years
Vernon G. Owen was elected to the
vice presidency and Franklin w. Har-
per was made treasurer. The other
officers remain the same, Mr.. Baltz
continuing his long service as secre-
tary, assisted by Raymond K. Espey
as assistant secretary, and William
H. Dyer, assistant treasurer.
Secretary Baltz reports that the
Perpetual Building Associations assets
have passed the s37,000,o0O mark.
New Gas Director Elected.
Everett j. Boothby, vice president
and general manager of the Washing
ton Gas Light Co., was elected to he
board of directors yesterday at the
adjourned annual meeting He fills
the vacancy caused by the death of
Robert D. Weaver. AS noted in The
Star late yesterday, the other directors
were reelected, Cary T. Grayson, Will
ton j. Lambert, Christopher H. Pope,
Marcy L. Sperry. Sidney F. Talia-
ferro and Corcoran Thorn.
In his annual report President Mar
cy L. Sperry reviewed the years f1nan-
cial and operating results. the sum-
mary covering the washington,
Georgetown. Rosslyn. Montgomery
County and Prince Georges County
companies. The report, which was
summarized in The Star at the time
the December report was filed with
the Public Utilities Commission, shows
net income after all charges for 1884
was $986,804, in comparison with
S841,370 in 1888 Consolidated gross
earnings were S6,762, 2,245, compared
with S6,271, ,522 in 1888.
President Sperry attributed the in
crease to the increased use of gas by
customers, due in part to lower aver
age temperatures during the Winter
months and partly to an increase in
the number of users. Higher labor
and fuel charges also made operating
expenses proportionately greater than
in 90
income before interest charges in
creased S68.265 over the preceding
year.
New Financing Forecast.
The annual dividend rate re-
manned unchanged during the year
at $3.50 per share. During the year
the time of declaring dividends was
advanced to one month before the
payment dates. For that reason five
dividends were voted in 1884 but the
fifth one was not paid until this year.
The official also went over the status
of the valuation cases which are still
unsettled.
Rates charged customers were the
same as in the previous year. Con-
struction expenditures for 1884 were
S1,304624. Retirements of property
amounted to over S164,000. leaving a
net increase of S1,139,625 in the fixed
capital accounts of the companies.
The earliest bond maturity is Octo-
Der 1, 1886, President Sperry said, on
which date S1,500000 of 10-year 6
per cent mortgage series B bonds are
payable. This obligation, together
with added costs for expansions, in
dicates the need of additional per-
manent financing in the distant fu-
ture. Authority for the issuance Of
additional capital must be secured
from Congress. in compliance with
the company's charter.
Bus Line Earnings Improve.
The January report of the Wash
ington Rapid Transit Co., filed with
the Public Utilities Commission today,
over the like period year ago.
Operating revenues totaled $685.
23777, in comparison with s32,830.92
in January, 1884. an increase of
s3,40685. Operating expenses and
taxes called for $33.54049, against
s30,476.22, an increase in operating
costs of S3,06427, leaving an operat-
ing income of S2,69728, as compared
with $2,35470, or gain Of S342.58.
Incorporating income in January
was very small. leaving gross prac-
tically the same as net operating rev.
enues. Deductions from gross amount
ed to S1,906.87, against S2,42034 a
year ago. a reduction of S513.47. and
leaving a net income for the month
Of $85642, in comparison with the
tiny gain of only S13.18 in January,
1894, or an improvement of $843.24
The Washington Rapid Transit Co.
operates the busses on Sixteenth
street, traffic figures having shown
an increase for many months.
Wilson Again Phone President.
Lloyd B. Wilson was reelected
president of the Chesapeake & Poto-
mac Telephone Co. and John A.
Remon general manager by the board
of directors at the monthly meeting
held yesterday Other officers elected
were Marshal D. Sedan, Philip o.
Coffin and John c. Koons, vice pres
idents; Walter B. Clarkson, vice presi-
dent and secretary; Thomas B. Clark
son, treasurer; Harry c. GretZ. gen.
eral auditor, and Ralph A. Van Orsdel,
general counsel.
Administrative officers include
Charles Siemon, auditor; Charles T.
Clagett, assistant to the general man
ager; e. G. Bliss, general commercial
manager; r. w. Prince, chief engi-
neer; P. G. Burton. general plant
manager, and F. G. Macarow, general
traff1c manager.
Today's Trading on Exchange.
Stock Of the Capital Transit Co. led
trading on the Washington Stock Ex-
change today on turnover of 135
shares at 251a. There were II con-
secutive 10-Share sales. Potomac Elec-
trio Power per cent preferred stock
sold at Ill. and Anacostia & Poto-
mac r. r. IS changed hands at 84ha
Several members of the Safe De-