Evening star., 1935-06-27

Iachlen Banking Corp: Ord Preston,
president. Union Trust Co.. Frank
Stetson, vice president, National Saw
ings g. Trust Co., and T. Stanley Hol-
land, trust officer. American Security
e. Trust Co. The personnel o. the
committee is indicative of the i'm
portance attached by bankers to the
field covered by its activities.
Another committee whose work Is
of great value to the banks-Stand-
ard Banking Forms-will be headed
by A. Scott Offutt. vice president, City
Bank. Vice Chairman T. Hunton
Leith. secretary. Security Savings &
Commercial Bank. w. L. Koontz. vice
president, AnacoStia Bank; Frank P.
Harman, assistant vice president,
Hamilton National Bank. and George
o. Schweinhaut. assistant treasurer.
washington Loan g. Trust Co., have
been named by Mr.. Doing to assist
Mr.. Offutt.
Potomac Powers Net Higher.
Net income of the Potomac Electric
Power Co. in May totaled s3l1,459.67
against S285,4522l, an increase of
S26.00746 over May. 1884, or Gil per
cent. according to the monthly state
ment fled with the Public Utilities
Commission today.
Operating revenues showed a 98l
per cent advance over the same month
a year ago, standing at $1,055 ,688.9l.
as compared with 1851 ,399.42 in the
like month last year, gain of S94.-
1880 At the same time operating
expenses called for $685. l34 against
S6009l5.9l year ago. an advance in
revenue costs of s65, ,218.09 or 1885
per cent.
With the increase in operating costs
greater than the substantial advance
In operating revenues, net operating
income amounted to 1889 9,55492 as
compared with S360,483.51, a gain of
S29,071.41, or better than per cent.
Incorporating income totaled SIS
s6o57. an increase of $4,562.20, or
4o.38 per cent. Gross totaled S405,-
415.49 in comparison with 371, ,781 SO a
year ago, an increase of s33,633.6l, or
COS per cent. Deductions from gross
called for s3.955.s2. against s86, 6,32967
last year.
For the first five months of the pres
ent year Potomac Powers operating
revenues amounted to S5,485 ,S03 II. a
gain of $471 ,883.23, or 9.41 per cent.
Operating revenue deductions required
S3,379,285.75. which was an increase in
operating costs of s456, ,804.05, or 1853
per cent. Net operating income was
about the same as year ago, the total
of S2106, ,5o7.39 being an increase of
$l5,0791S.
Incorporating income was slightly
above last year, while gross amounted
to s2,163 1928, against $2,147,911 go.
Deductions from gross required S465.-
74937, compared with S431, ,02309, an
increase of $34, 1888, or over 8 per
cent, leaving net income for the
five months of s1,698. .047.89, against
S1,7l6, ,8Ss.s1, off s18,840.92, or Ill per
cent. Higher operating costs are given
as the chief reason for the lower net
in the face of such fine advances in
operating income.
B. & o. May Net Shows Slump.
Net railway operating income of the
totaled S1,556.679, in comparison with
S2,0o7, 1903 In May year ago. drop
Of S65e,530, railroad officials reported
this noon. Both freight and passen-
ger revenues we're lower than year
ago. Passenger revenues were of only
$24905, while express revenues made
a gain of over $4,000. Railway oper-
ating expenses were considerably
heavier than a year ago.
Net railway operating income for
the first five months Of this year was
also reported, this item standing at
$8,S73,525 against s8,729,677 in the
corresponding months year ago, an
increase of $143,848.
Operating revenues were off 5000 600
from last year, amounting to 1884
800. At the same time operating ex-
penses were lowered by $533,343 to
S42,807 ,246, making net revenues from
operations total $14,057,074 against
S13.723 ,805, an increase of $333,269.
Total deductions from operating
revenues amounted to $5,183,54 as
compared with $4,994, ,128 last year, an
increase of $l89.42l.
Chevy Chase Loans Increase.
At a recent meetrng of the Board
OF Directors of The Chevy Chase Build
ing g. Loan Association the twelfth
consecutive semi annual dividend at
the rate of 6 per cent per annum was
declared, payable July /. to common
stockholders of record at the close
of business on Juae 10. A dividend
at the rate Of 5 per cent per annum
was also declared on the class A
stock.
7. Horace Smitfey, secretary treas
urer. reports substantial growth in
the associations assets during the
first six months Of 1898 and a strong
er loan demand than has obtained
tor several years. An unusually large
percentage of the loans made during
the past six months have been for
the construction of new homes in the
Chevy Chase section.
Directors of the association are R.
W. Eisinger, B. Edwin Erikson, CT orge
3. Fraser, Diller Croft, Oscar B.
Hunter, S. S. JaIfe William L. Orern,
1r.; John F. Preston, Fred A. Schmidt,
Ralph S. Scott, NJ. Rea Shafer Fred
T.. Shoemaker and j. Horace Smjthey.
Today's Trading on Exchange.
Capital Traction bonds again sold
at 81 on the Washington Stock Ex-
change today, on $500 to $1,000
transactions. In the stock division
10 shares of American Security &
Trust sold ex-dividend at 200 fiat.
The only other sale of the day was
IN Lanston Monotype, two shares
moving at so. Capital Transit stock
closed with 18 bid and 1872 asked.
Travel to Europe this Summer Is
expected to show an increase of
around 25 per cent over a year ago,
according to the American Express
Co.
Ten shares of Peoples Drug Stores
preferred stock sold at I13 on the
New York Stock Exchange Yesterday.