Evening star., 1935-10-26
v. R. 7. EARNINGS
FAR ABOVE 1884
Nine Month Net Reaches
$29,596, Against Only
$3.50 Year Ago.
BY EDWARD C. STONE.

cording to the financial statement
filed today with the Public Utilities
Commission. In this period operat-
ing revenue totaled 1894, 4,060.13, or
gain of $3427874 over the same
month last year. There was also an
increase in operating expenses of
s13,195.09. leaving net income from
operations. $2l,o83.66 higher than
year ago.
After all other deductions the bus
company officials report total net
income fol- the nine months of S29,-
S96.57, as compared with only s5,139.97
at the end of the third quarter last
year, or an increase of S24 ,456.79 so
far in 1885 The improved showing is
due to an increase in the number Of
passengers carried, together with
close watch on the cost of operations.
The September report revealed
operating revenue of $34 1854. up
$4,17696 over September, 1894.
Operating expenses and taxes totaled
3o,50122. an increase of $1,186.42,
and leaving net income from opera
tions of s3,635.22, or a gain over the
same month year ago of $2,990.54.
Deductions from gross called for
Sl,781.37, leaving a net income for
the month of $l,905.04, against a
deficit a year ago of $l,381.88.
Trade Statistics Compared.
For the first nine months of 1885
wholesale groceries sales in the fifth
Federal Reserve district were ga per
cent better than last year, hardware
sales were up 9.6 per cent and drugs
2 per cent, according to the Federal
Reserve Bank of Richmond. Dry
goods sales were off Is per cent and
shoes IL per cent in the same period.
In September alone hardware sales
were up 1875 per cent, drugs % per
cent. dry goods "a per cent, groceries
40 per cent, while shoe sales were
off OF per cent. compared with Sep
tember, 1884. Sales in dry goods and
hardware were much better than in
August, the report adds.
During September 96 per cent of
Che bills due on wholesale groceries
were collected. SO per cent on dry
goods. SO on shoes, Al on hardware
and IS per cent on drugs, the Rich
mond bank states.
In a review of retail trade. the re-
port says that Is per cent Of the re-
ceivables due Washington department
stores were collected during the
month. In the first nine months of
1885 stocks in department stores here
were turned 3245 times. Stocks of
goods were 19 per cent higher at the
end Of September than at the close
OF August.
AS previously noted, retail sales in
Washington were 26.4 per cent better
IN September than year ago and up
A5.8 per cent in the nine months, both
ancreases being ahead of all other
cities in the fifth district, based on
figures from 81 department stores.
Plans for Security Holders.
How present holders of Barber &
Ross. Inc, securities stand under the
reorganization move now before the
District Supreme Court for approval,
Us stated In article of the proposed
plan, which says:
Each creditor will be required to
cancel his present Indebtedness, in
cluding the unsecured portion Of the
claims partially secured, whether it is
In bonds, open account or in whatever
form evidenced, and accept in lieu
thereof 80 per cent of such total in
nebtedneSs in the new closed l0-year
h per cent bonds, hereinafter des-
scribed, and 70 per cent thereof in the
new preferred stock without par value
at the rate of one share for each 500
of indebtedness with authorized divi-
eiend of So per share, non-cumulative,
hereinafter. more particularly de-
kcribed. ANY fractional part of said
Eo per cent under $50 will be settled
for at the rate of 25 per cent thereof
In cash. The holders of the present
preferred stock to accept one share
of the new common stock without
par value for each share of the pres
knt preferred stock.
The holders of the present COM
mon stock shall accept one share of
she new common stock B without par
value for each 10 shares of the COM
mon stock now held by them
Securities to be dealt with under
fhe plan are $622, 900 10-year .6l2 per
tent sinking fund gold bonds, accrued
interest on these bonds of $l1.792.
preferred stock and $4,000 shares of
common stock.
Loan Associations Growing.
With 962 Federal savings and loan
associations now in operation in 43
States, representing total resources of
S420,284,745 and the savings of more
than 100000 people, the Federal Home
Loan Bank Board today announced
that applications for charters are
pending for 2O7 additional Federal
associations, with resources of $685.
R54,709, of which 204 are existing
State chartered building and loan as
bociations seeking to convert into Fed
eral associations.
During September the 1853 reporting
Federal savings and loan associations
made new mortgage loans to some g.
D00 home owners in the amount of
ko,273, ,526, of which 35 per cent was
loaned for the refinancing Of existing
mortgages and IS per cent for new
construction, reconditioning and the
purchase of homes.
OF the Federal associations now
chartered, 377 represent the CONVEX
bion of established building and loan
institutions, formerly under State
charter, and 585 are newly organized
Federal associations, formed by local
business and financial groups.
Financial District Gossip.
Governors of the IL Federal Reserve
banks have concluded their session
with the Federal Reserve Board. They
reported both business and credit con-
ditions much improved and said there
seemed to be no reason for any con-
troll measures at present.
A comprehensive analysis of A legal
Reserve insurance companies designed
for the layman, as well as the financial
community and the insurance indus
try, has been published in book form
f,x II Davis ChicaqQ life ipSurauce