Evening star., 1936-01-24
BY EDWARD C. STONE.

totaled 608, ,363, ,44S, in comparison will,
54s.l28.l64 in the like period in 1884,
. very substantial increase
December Profits Lower.
Potomac Powers operating revenues
for the month of December, also re-
ported to the Utilities Commission
totaled $l.l74,83019 which was an
increase Of $84.897.86, or ITO per cent
Revenue deductions for operating
expenses reached the sum Of $722.-
453.47, an increase Of $79,293.83 or II
per cent, a larger percentage gain
than the jump in revenues.
Net operating income stood at $452,-
S7672, an increase of S., ,60403, or 1.25
per cent. Deductions from gross were
higher this year. being $99.046.06, al
compared with $92,023.10 in Decem-
Der, 1884. an increase Of over $1,000
or more than per cent.
After all deductions, the Potomac
Electric Power Co. reported a net in
come in December Of $362, $50 40
against 1864, ,837.94, or q slight drop
Of $2,25754. The company reported
larger sales In kilowatt hours. only
the increase in expenses preventing q
higher net return than last year.
Auditors Section Meets.
A. R. Burbett, controller of the First
National Bank of Baltimore, and
Martin w. Meyer member of the
law firm Of Williams. Myers g. Quiggle
of Washington, were guests of honor
ut dinner meeting of the auditors
section Of the District of Columbia
Bankers Association at the Hamilton
Hotel last night.
James D. Barrett, chairman of the
section and newly elected auditor of
the American Security g. Trust Co
presided.
It was announced that the Sec
ton will hold joint meeting with
the safe deposit section on Febru-
ary IS.
Perley Pushes Dinner Plans.
Frank M. Perley of the American
Security & Trust Co., who is chair
man of the Entertainment Committee,
arranging for the thirty-first annual
banquet Of Washington Chapter,
American Institute of Banking, to be
held at the Willard Hotel February
"a, says the dinner will have back
ground Of rolling prairies and West
ern ranch atmosphere. The details
Of these decorations will be in the
hands OF Edward NJ Blaiklock of the
Washington Loan & Trust Co. and a
special committee.
The committees are preparing a
program which will add greatly to
the pleasure Of the guests, many of
whom will remember last years Gay
COS Valentine party" Assisting the
above chairmen will be Miss Vivian
Stokes, Miss Rose Royce, w. A. Cady,
A. o. Dooley, T. Hunton Leith, I.
J. Roberts, Francis Robey, P. j.
Seltzer, James A. Soper and R. G.
Whitton.
Hazen Again Board Secretary.
Melvin c. Hazen, one of the District
Commissioners. was reelected secre-
tary of the board of directors of the
Lincoln National Bank at the annual
organization meeting yesterday. He
has served the board several years in
this capacity. j. Frank Rice. for some
years an assistant cashier, is now the
banks assistant trust officer.
A dividend of 6 per cent for the
fiscal year 1885 was declared at the
annual meeting of F. E. u, Local 261,
War Department, Credit Union of the
District Of Columbia The following
constitute the officers and board Of d.
rectors for the coming year: william
S. Kinney, president; Gertrude E.
Coyle, Joseph A. Bayer, vice rresi-
dents; Pearle Cooper, secretary, and
L. Pearl Herring, treasurer.
Bank clearings In Washington for
the week ended January % were 36
per cent above the figure for the corre-
spending week year ago and compare
with q gain Of II per cent for the
whole Nation. Baltimore clearing were
up 18 per cent and Richmond is per
cent in the same week.
New building authorized in the fifth
Federal Reserve district, including
Washington, In December was the
heaviest for that month in six years,
the total being $4,000 ,6o7, against ST.
ol3,S66 in the like month In 1894.
Peak Bid for Mergenthaler.
The highest bid for years for Mergen-
thaler Linotype stock was made on
the Washington Stock Exchange when
the figure reached Az, with the asked
price jumping to 46. There were no
sales. The stock sold ct 43 in Boston
yesterday, q jump Of ~ points.
Actual. trading on the exchange was
light today, the market opening with
nine shares of Washington Gas Light
stock selling at the strong price of TIA.
Capital Transit was the only other
issue appearing on the board, three
1O-share sales and one 5-share lot
changing hands at 141a, unchanged
from yesterday.
Heard In Financial District.
President Y. r. Booker of the WASH
an1tou Stock Exchange leaves here
late today for AbSecon, N. j., to at
tend the Winter meeting Of the Board
Of Governors Of the Investment Bank
ers' Association. About 80 membera
of the association viii be present.
In the recent List Of 200 Of the
largest banks In the United States
published BY the American Banker
Rirgs National, American Security Il
Trust and the National Metropolitan
were included. Nset e't@2
The Reconstruction Finance Corp
reports that directors Of the Great
Northern Railway have accepted the
proposal regarding $l00. 900 600 bond
issue bearing per cent.
The following were elected directors
Of the Rosslyn Steel q Cement Co.
at the annual meeting just held: w.
c. Kiesler, G. H. 0alliher, G. Emory
Galliher, Malcolm 8. McConihe, =. A.
Rule and Arthur J. Linn.