Evening star., 1935-01-31
BUSINESS SHOWS
I. GOOD 1885 START
Capital CIearings in Month
at $69, ,566, ,923, Compared
to $55,737,297 in 1884.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Business In Washington got away
to O f1rst-class 1885 start, according to
the monthly report on bank clearings
made this noon by Charles E. Bright,
manager of the Washington Clearing
House
January clearings in this city to-
tailed $50 ,566, ,923.40, in comparison
with SIS, 5,737, ,29749 in January, 1884,
or q gain of sl3,829,625.9l.
While there Is always a let-up IN
business following the Christmas holi-
day rush, clearings in the month now
ending came very close to the mark
set in December, when Cancelled checks
passing through the Washington
Clearing House totaled $40, ,339 ,934 90.
January clearings back in 1888
amounted to s72,567, ,289, Clearing
House Association records reveal, and
in January, 1882, checks paid during
the month reached a total OF $92,-
855,73629.
Today's figures for the first month
In 1885 not only continue the recent
upward trend, but are also almost
OkCk W OllC SCo AA4 SAAS SSAAS
spending month in 1888.
In the past few months the up
swing in local bank clearings has been
definite, the chief point being how
much larger the totals would be than
in the like months in the previous
year.
Bank clearings in Washington in
the full year 1884 were more than
s120 900 better than in 1888. To-
days figures give good reason to ex-
pect that the 1885 total may equal
or exceed the excellent total gain last
year. 1t is bit early for such a
prediction, however But it is safe
to say that January retail trade Will
reveal a considerable gain over
January, 1884.
Finance Firm Votes Extra.
Federal Services Finance Corp, 744
jackson place, has declared its forty
first quarterly dividend and has au-
thorized an additional distribution OF
so cents per common share, payable
with regular dividend of SITS on pre-
ferred and so cents on common today.
This company complied its tenth
anniversary during 1884 and had the
best and most profitable year Of its
history. It reports net earnings OF
$9O,595.79; dividends paid amounting
to Sal, ,96924 and an increase of more
than Sc per cent in volume OF business
handled over that for the year 1883.
Heretofore the company has spe-
cialized in monthly payment credits to
officers of the Army, Navy, Marine
Corps, Coast Guard and similar serv-
ices of the Federal Government and
now is extending its activities to in
clude automobile purchases on deferred
payment plan, by the classified civil
service personnel.
The following officers were re-
elected: F. E. Pope, president; L. W..
Cass, vice president and treasurer; W..
H. Garrison, vice president; D. S.
Stanley, vice president; p o. Burtner,
secretary, and A. C. Terrill, assistant
treasurer.
C.&P. 1884 Phone Net Off.
Total net earnings of the CheSa-
the full year 1884 were reported to-
day to the Public Utilities Commission
as s980,640, in comparison with
$1,779,750 in 1888. This drop in the
balance before dividends reflects the
effect of refunds to telephone sub
scribers in the District of Columbia
during recent weeks.
Operating revenues for the IL
months ended December 81 were
s347,l39 less than for the same period
in 1888, 8,783, ,702, as compared with
$9,130,841 in 1888.
Operating expenses were $6,866, $50,
leaving net operating revenues Of
$1,917,052. Operating expenses for
the IL months ended December 81,
1888, were $6,293,593. Operating taxes
for the IL months of 1884 amounted
to $60S,076.
Washington was served by 1907
telephones on December 81, as COM
pared with 178,761 on the same date
last year. This was a net increase OF
10,256 telephones for 1884. There
were 13,838,00 more telephone calls
in 1884 than in 1888, there having
been 23S S,575,00 calls made last year.
The December report was also filed
today with the commission. On ac-
count of the refunds to subscribers the
figures are all below the figures re-
ported in the same month in the pre-
viouS year.
Today's Trading On Exchange.
Trading on the Washington Stock
Exchange opened today with Potomac
Electric Power 51a per cent preferred
oUoiy, sailing of 40
Woodward & Lothrop common
came out today in five sales of Is
shares each at %. This was an
advance Of two points over the last
previous and the first time the stock
has appeared on the board in 1885.
Washington Gas IS, 1860, were
strong again today, recording single
sale at 1111a, gain of full point
over the last previous transaction.
Capital Traction SIS made new
high mark today with three sales
taking place at 90. These bonds have
moved up from 80 during the past
month.
Heard in Financial District.
Preliminary report of Virginian
Railway for year ended December 81,
1884, shows net income Of $3,574,440
after taxes and charges, equal, after
dividends on 6 per cent preferred
stock, to $6.06 a share on 312,715
shares Of common stock. This COM
pares with $2,956, ,652, or $409 a COM
mon share, in 1888.
Total resources of 10 commercial
banks and trust companies and II
savings banks in Baltimore as of De-
cember 81, 1884, were $617 $50, ,341,
compared with $524,382, ,204 in the
preceding year, an increase of $685.
268,136, according to the Baltimore
Clearing House. Deposits aggregated