Evening star., 1935-11-30

crease OF S59,-
O3085, or 568 per
cent. Revenue deductions called for
1854 4,942.71, against $639, ,927.69 last
year, an increase of over S25 900, or
3.91 per cent, leaving a net operating
income of S433 ,59457, an increase of
s34,O15.83, or 8.51 per cent, over Oc-
tober, 1884.
Non operating income was off
Sl,726.78, or IS per cent. Gross was
up S32,28905. Deductions from gross
required, $98.541.78, an increase of
$7.88542, and leaving a net october
income of 1914, 4,601.85, in comparison
with S320198 year ago, an i'm
provement of 1852 per cent. An i'm
portant fact in the good showing was
that operating costs were held well
below operating revenues. Another
interesting fact noted in the report
was the item revealing a striking re-
duction in the number of uncollected
bills, always sign of definite eco
nomic improvement.
For the first 10 months of 1885 Po-
tomac Powers operating revenues
gain Of S868. 8.8o4.15, while revenue de-
ductions took away s6,716 648.79, an
increase of $752,70652 in expenses
and greater percentage advance than
the improvement in operating rev.
enues.
Net operating income stood at
$4133, ,11l.66, up nearly 3 per cent.
Incorporating income was lower and
there was an increase in deductions
from gross. leaving total net income
for the 10 months of So, ,290,021, against
$3,255,749 an increase of $34,272.
Harrison Heads New Office.
Increased volume of sales by the
members of the Union Market Busi-
ness Mems Association, comprised Of
the wholesale and retail merchants
housed in the Union Terminal Mar
kets, Fifth street and Florida ave-
nue. northeast, has led to the appoint
ment of Judson o. Harrison, jr., Of
this city as secretary-manager of the
association.
Mr.. Harrison's duties are those of
investigating the problem of more
efficient merchandising of food prod
ucts In the interests of both consumers
and merchants. A second enterprise
is the consideration of the erection Of
a truck terminal at the Union Mar
kets. The tremendous increase in
the trucking of food products, es-
pecially from Florida and the more
distant sections, has shown that exist
ing facilities are entirely inadequate.
The modern terminal considered pro-
vides not only physical facilities but
also aids as clearing house of in
formation relative to market condi-
tiors and truck destinations.
A graduate of Georgetown Univer-
sity, Mr. Harrison studied further
at the Wharton School of Finance at
the University Of Pennsylvania, where
he was awarded the degree of master
of business administration. His new
Offices are located in the new Union
Terminal Office Building at 418 Flor
ida avenue northeast.
New Christmas Clubs Opened.
Eighteen Washington banks opened
their 1896 Christmas Savings Clubs
today. They hope to exceed last years
total subscriptions and the aggregate
number of members. Many new en-
rollments were reported. With the
distribution of this years club funds.
It is expected that the new clubs will
really get under way next week.
Some people find they can put part
OF their money back into the new
clubs, while others use good deal Of
1t in permanent savings. However,
the merchants get the majority Of
these Yuletide savings.
Chairman Vivian z. Stokes of the
Women's Committee of Washington
Chapter, American Institute of Bank
ing, announces that a one-act play
will be the main feature of the party
at the Mayf1ower Monday evening, the
cast with Alice H. Whitton, First Ma
tional Bank of Alexandria, director,
including Teresra BehabetZ, Union
Trust Co.: Katherine McKalmont,
w. B. Hibbs & Co.; Frances Nagel,
Riggs National; Mildred ODonoghue,
Riggs National; Frances Werner,
Hamilton National, and Marie Seltzer,
wife Of the first vice president of the
chapter. While sponsored by chapter
members, all bank women are invited.
Because the background of business
transactions has been largely stab
inzed, commercial conditions in
large majority Of the Latin American
countries are considerably better than
they were year ago, the foreign
department of the National Associa-
ton of Credit Men points out as a
result Of its twenty-eighth quarterly
survey Of those countries based on
the experiences of members of its
Foreign Credit Interchange Bureau.
The report was received by the local
association today.
Financial Position Reyives.
The magazine Sphere declares that
"Every time the security market aver
ages have gone up q point number Of
peoples have crossed from insolvency
to solvency. The rising markets also
tend to restore independence to the
more than 5000 banks that are still
Indebted to the R. F. C. for capital.
Thousands Of families have been
able to refnance the indebtedness OF
their homes over long periods and the
fear of foreclosure has been taken
from them. This has enhanced their
purchasing power.
Those who want real safety and
better-than-average return will con-
suit their banks about insured mort
cages. Some very rich men buy dia-
monds as an imitation hedge, but the
ordinary man cannot go in for that
sort of investment.
"The main thing is that man is
justified now in putting at least a
part of his capital to work. Nor is
he likely to be mobbed when 1t be-
comes known that he does have little
something saved up" ..>