Evening star., 1936-05-29
CLEAR|NGS HOLD
AT HIGH LEVELS
Moderate Drop From April
Leaves Total Well Above
Year Ago.
BY DONALD B. HADLEY.

report of the Washington Clearing
House Association, Charles E. Bright,
manager made this noon.
The April figure of 500, ,389, ,0l4.14
vas the highest for that month since
1881.
Clearings for May compared with
S77957,95142 in the 1885 month.
Totals for other months this year as
compared with 1885 follow:
1886. 1895.
Jan. - $86,990. .54e.44 s69, ,566, ,923 40
Feb. - 78024,521.81 60956,2S1 80
March 86,355,8791 74,1l2, ,669.7 70
April =, 100, s.O14.l4 77447,s54.34
Checks Cancelled by the clearing
house during the first five months of
the year totaled $446,055 ,07689, in
comparison with clearings of $780,
o4l,78o1s in the corresponding 1885
period.
Totals for five months periods in
other years include: 1884. s289,998.-
505.32; 1888, SPAS, ,63s ,2O5.30; 1882,
s433, 3,427, ,463.28.
As bank clearings are considered
one Of the very best barometers of
business conditions today's figures in
dicate a continuation of the steady
recovery here.
C. & P. Income Gains.
The Chesapeake & Potomac Tele-
phone Co. report, filed with the Public
Utilities Commission today, showed
April net operating income of $215.-
293 compared with s2l2,055 in April,
1885. Net operating income for the
first four months of the year reached
e7S4,918, against $741, ,304 in 1885.
April operating revenues totaled
$904, ,218, against 1857 ,458 last year;
operating expenses, $6l4,0l8, against
S578,oee; net operating revenues $780,
200, against S279,359; operating taxes
s74,907 against S67,304 leaving net
operating income of S215,293 Addi-
ton of incorporating income and
interest deductions left balance be-
fore dividend of s200,716. compared
with s185.440 in the 1885 month.
The four months operating revenues
totaled $3,539,569, against S3,316,O92
in 1885; operating expenses, $2,465,-
400, against s2,322, $40; net operating
revenues, S1,074, 169, against S993,522;
operating taxes, $289,251, against
S252,218, leaving net operating in
come Of $784 ,918. Addition of non
operating income and interest deduc-
tions left balance before dividend of
S729,752, against S639,846 in the
period last year.
Phones Total Higher.
Washington was served by 2o5,731
telephones on April 80, compared with
193,S58 on the same date in 1885. This
was a net increase of 1873.
Taxes for the month of April
amounted to s74907, as compared
with SGT ,304 in April, 1885, an in
crease Of approximately 11.2 per cent.
The cost of telephone plant in service
on April 80, 1886, was s37,935,171, ac-
cording to statement made by John
A. Remon, general manager of the
company.
Telephone users in Washington
made 23,536, 600 calls in April, as COM
pared with 21,718000 during the
month In 1885.
Controllers Plan Meeting.
A large attendance is expected at
the final meeting for the year of the
National Capital Group of Controllers
ct the Manor Club next Monday eve
ming. Newly elected officers will be
installed. They are: Harold G. Ma
lone, the Hecht Co., chairman; J.
Frank Brown, S. Kann Sons Co., vice
chairman; A. Coonin, William Hahn
& Co., secretary and treasurer.
Two interesting papers will be pre-
sented. Frank ]. Hisey, Palais Royal,
will give one on Merchandise Planning
and Accounting, and Paul B. Richard
Son, the Hecht Co., will give the other,
on Expense Planning and Control
Prior to the meeting, which will
start at o'clock, there will be golf
tournament, beginning at l o'clock.
Washington delegates to the Ameri-
can Institute of Banking convention at
Seattle will leave here tomorrow. They
include Paul ]. Seltzer, president, Will
liam H. Laughlin, Crawford Turnbull,
r. Hunton Leith, I. J. Roberts, Robert
C. Whitton, j. Earle McGeary and G.
Elmer Flather. The Institutes thirty
fourth conclave will be in session June
Big.
Trading on d. c. Exchange.
Potomac Electric Consolidated IS
we're quoted at 100 on the Washington
Exchange today with two 1000 sales
reported. The same company's 51a per
cent preferred was at 11012 with five
shares changing hands. Five shares of
Washington Railway & Electric pre-
ferred sold at 1101a while one common
share of Riggs Bank moved at 265.
After the call, two $500 deals were re-
ported in Washington Gas 6s at 100.
Five shares of Lanston Monotype
changed hands at 80. The Washington
Exchange, along with New York mar
kets, will be closed tomorrow for Me-
mortal day.
Join in Cotton Week.
Washington merchants are prepar-
ing to take an active part In National
Cotton Week, which starts next Mon
day.
Reports to the Cotton-Textile In
stitute from retailers and other in
terests in widely scattered sections
confirm earlier predictions that this
gears will be the most extensive in
the history of the event.
Cooperating with department stores
and accessory or speciality shops in
the celebration to formally open the
Summer cotton goods selling season,
are untold thousands of retail grocers,
washing and sewing machine distribu-
tors and other affected merchants
whose promotional and advertising
activities will be centered largely on
cottons during the week.
Displays Planned.
Estimates based on reports to date
are that several hundred mile1 of re-
tail establishment display windows