Evening star., 1936-01-27

Operating rev.
enues in 1885 to- onar'es H. faoe'es'
tailed S456,90902 which was an in
crease of $49.784.49 over the previous
year. Operating expenses called for
1898, 3,08l.37. an increase of $l8,40996
and leaving an operating income OF
$63,827.65 in comparison with $32,-
449.12 in 1885, or gain of $3l 1883.
The December report showed oper-
ating revenues of SAL, 1,70436, against
$36,069.2l in December, 1884, an in
crease of $5,638.15. Operating ex-
penses required $34,963.40, compared
with $35,333.20 in December a year
ago.
Operating income totaled $6,74096
against only $736.0l year ago, mean
ing an increase of $6.O0495. After
addition Of non operating income and
all deductions from gross the bus
lines reported net income for De-
cember Of $4,99079, against a deficit
in December 1884, of s1,3l009, max
ing a gain in the month under re-
view of S6,3o088 and adding to the
turn for the better in the other months
during the years.
,Fadeley Assumes New Duties.
Charles R. Fadeley, who was elected
an assistant cashier Of the Riggs Ma
tional Bank at the recent annual
meeting, has assumed his duties, be-
ing attached to the main office.
The new official entered service OF
the bank in 1923 ana has been iden-
titled largely with work of the credit
department. Mr.. Fadeley is the son of
DR.. and Mrs. George B. Fadeley of
Falls Church, his father being re-
tired physician.
Before entering banking, Mr.. Fade
ley was graduated from Technical
High School in Washington, the Uni
versity of Virginia and later attended
the Harvard School of Business Ad-
ministration. He has received many
congratulations from the younger
bankers in the financial district on
his promotion.
Best Fire Insurance Year.
Mutual fire and casualty insurance
companies throughout the United
States have completed one of the most
successful years in the history of the
industry, according TO James S. KEN
per, president of the Lumbermen's
Mutual Casualty Co. of Chicago.
The preliminary figures of the
mutual fire insurance companies show
an increase of approximately 8l2 per
cent in fire insurance premiums. 5 per
cent in windstorm premiums and 20
per cent in automobile fire and theft
premiums.
In spite Of the fact that loss ratios.
which were approximately 40 per cent
below normal during the first 10
months of the year, showed sharp
upward trend in the last six or seven
weeks of the year, 1885 will prove to
be one of the best years. if not the best.
fire insurance has ever experienced
with the companies reporting subStan-
tial additions to surplus.
In the mutual casualty field, the
companies will show total gains in
premium income of 1872 per cent, it is
estimated The greatest percentage
gain will be in compensation insurance
with an estimated increase of % Der
cent, due in part to an increase in the
number of policy holders and in part
to the improvement in business and
the increase in pay rolls incident to
that improvement. Automobile insur-
ance, it is expected, will show a gain
OF 13. per cent; burglary, % per cent, |
and miscellaneous lines, IS per cent |
Expense ratios are expected to show a |
slight decrease of about per cent and |
loss ratios will decline about per cent |
Higher Margins Start Soon.
The advance in margin requirements |
from As to 55 per cent, announced by
the Federal Reserve Board, will go
into effect on the New York Stock |
Exchange and elsewhere next Satur-
day, February l.
It was understood in the financial |
district today that present margins |
will remain unchanged, any stock |
bought on the As per cent basis being |
allowed to remain on that basis. OF |
course, stock can be bought and sold |
at the old rate during the present |
week.
Beginning Saturday, the higher
margin will have to be put up on
all transactions. The difference in
rates, however, is not considered large |
enough to cause any special selling. |
A good many brokerage customers may |
carry their present stocks for some |
time, so that the change will be |
gradual and have no particular mar
ket effect.
Security Trading Is Doubled.
The Securities and Exchange Com
mission reported today that the dollar
value OF sales on all registered secur-
tiles exchanges in December amounted
to $2,293 ,246.599, decrease of 10 per
cent from November, 1885, and an in
crease Of 98.7 per cent over the value
of sales in December, 1884. Stock
sales 0ncluding rights and warrants)
had value of $1,979. 149, 400. q de-
crease Of 12.1 per cent from Novem-
Der, 1885. Bond sales were valued at |
$3l4,082, ,698, an increase Of 6 per cent. |
Total sales of stock in December |
(including stocks and warrants) were |
S2,970,142 shares, or II per cent be-
low November's figure. Total par value |
Of bonds sold was $448, I'll $3.50, an In
crease Of 1913 per cent.
The Virginian Railway reports $7.79
. share earned on the common stock
in 1885. compared with $6.06 in the
previous year.
i Todays Trading on Exchange.
Capital Transit stock opened the
weeks trading on the Washington
Stock Exchange with small sale at
~. Later Is shares more sold at
1917. Potomac Electric Power 6 per
cent preferred again moved at 111h.
The bid on Mergenthaler Linotype
was advanced to As, with the asked
price at ~. No sales were reported
in spite of the stocks strength. It
sold In Boston Saturday at Is, up az
= 'ints.