Evening star., 1935-09-27

Blake OF AleA- -
Sons, Baltimore,
was chosen secretary treasurer. In
addition to the officers. the Executive
Committee includes John c. Legg, jr..
of Mackubin, Legg & Co., Baltimore; :;
Robert B. Hobbs of w. w. Lanahan
g. Co., Baltimore. and John c. Hagen,
jr.. of Mason Hagen. Inc, Richmond.
The meeting was we'll attended, the
following Washington member firms
being represented: Folger, Nolan &
Co.; Henderson, -Winder Co. James
NJ. Johnston e. Co.; Stroud, Kurtz g.
Co.; Waggaman, Brawner g. Co.. and
Y. E. Booker g. Co.
The Southeastern group comprises
the States of Maryland, Virginia,
West Virginia, North Carolina, South
Carolina and the District of Colum-
bia.
Phone Directors Elected.
John Saul and Harry L. Rust, jr.,
were elected directors in the Chesa-
peake g. Potomac Telephone Co. at
a meeting of the board yesterday,
President Lloyd B. Wilson announced
today.
Mr.. Rust is treasurer of the H L.
Rust Co. and a director of the Wash
ington Title Co. Acacia Mutual Life
Association and the Security Storage
Co. He is graduate of Lehigh Uni
versity.
Mr.. Saul is president Of B. F. Saul
~ III 0f
Security e. Trust Co. and president
of the Washington Board of Trade.
He is a graduate of Georgetown Uni
versity and received his A. B. degree
in the class of 1918 and his M. A.
degree in the class of 1920.
Other directors of the telephone
company are W. w. Everett. Robert
V. Fleming, Edwin c. Graham, Gilbert
Grosvenor, John Poole, Merle Thorpe,
Philip o. Coffin, Marshal D. Sedan
and L. B. Wilson of Washington and
Eugene S. Wilson, New York.
Changes in Tax Laws Explained.
Harrison & Keech, New York
Stock Exchange firm, with Offices on
Fifteenth street, is distributing
on Taxation and Investments Under
the Revenue Act of 1885" The folder
explains the principal changes in gift
tax rates, estate, individual surtax
corporation income, intercorporate
dividends, charitable contributions, in
tercorporate liquidations. capital stock,
excess profits and personal holding
companies.
Definitions of the various taxable
-classifcations. and the rules govern
ing Federal and State and inheritance
taxes are included and the pamphlet
devotes a good deal of space to meth
odS of computation. A vast amount
of other important tax information
has been included.
The brokerage firm also presents
complete tables on the computation
of income taxes, on Federal estate
taxes, on New York estate taxes and
one covering the Federal gift tax.
Still another table shows the return
that must be obtained to cover the
Federal income tax and leave the
same net return that would be OBJ
tanned from taX-eXempt bonds.
Collections Holding Up Well.
Collections in Washington depart
ment stores in August show that 26.5
per cent of all bills due at the begin
ming OF the month were paid This is
exactly the same as the average per-
centage collection in the whole fifth
district, the Reserve Bank of Rich
mond reported today Both Richmond
and Baltimore did little better than
Washington.
Stocks of goods in Washington stores
were turned 37100th times in August
and 2.84 times in the first eight months
of the present year. This was the
best eight months activity of any city
IN the district. The average for the
aAtire district was 2.55 times, the re-
port says.
Stocks on hand in Washington de-
partment stores at the end of August
were 81 per cent higher than at the
end of July. Stocks of goods were a
bit lower than at the end of the same
month last year.
AS previously noted, trade in de-
partment stores here in August was
1T per cent higher than year ago
and 14.3 per cent better in the first
eight months this year than last
Columbia Bank Votes Dividend.
Directors Of the Columbia National
Bank declared a quarterly dividend
of 81 so per share at a meeting held
yesterday. President Frank j. Stryker
announced today. The dividend is
payable october to stockholders of
record September 30.
Net railway operating income of the
Baltimore & Ohio Railroad in Angus
totaled $2,229, ,703, against s2,149,457
in August, 1884 gain of Sl50,246, it
was announced today. Net for the
first eight months of 1885 is 81 ,067 ,233
under last years total.
Capital Transit stock opened busi-
ness on the Washington Stock Ex-
change today with a sale of 100 shares
at 18. off a from other recent sales
Twenty more shares changed hands
at the same figure. The stock Closed
with 18 bid asked, 1872. :
The only other transaction on the
exchange today was 10-share sale
III AHleIlCeH otCuIlty @ trust 20.
stock at 20112 new high mark for
the year The highest previous sale
was 20012. The Stock sold a few days
ago at 1892.
Dividends on Riggs National Bank
common, American Security & Trust,
both Woodward g. Lothrop issues and
American Telephone are to be paid
in a few days. these stocks now being
quoted ex-dividend.