Evening star., 1936-07-29

penSeS ClllnDeu 10 SOoUoof CUIilpdlcu
with S595,953, leaving net operating
revenues of s26o,ss4 against s247,e42
in June, 1885.
Taxes called for $88,203. in COM
parison with S64276, making quite a
dent in operating income. Non-op-
Grating income was better than last
year, while interest deductions from
gross required $14.119 against s23,920
last year, leaving the total balance be-
fore dividends of more than $160,O00.
Washington was served by 206, l44
telephones on June 30, 1886, COM
pared with 1876 ,296 at the end of June,
1885. There was a decrease of 30l
phones during the month of June
compared with the end of May this
year.
Half Year Gains Reported.
In the first six months of this year
operating revenues amounted to
S5.330,076 as compared with s5,019,-
$50. Operating expenses also in
creased. S3,723,741 against $3,506,61
leaving a net operating income after
payment of taxes of s1,l57,187 COM
pared with $1,129,732.
Total gross income stood at Sl,l62,-
1Ol against s1129,079 Interest de-
ductions called for s86,117 against
S15O.15l in the first half of 1885,
leaving a balance before dividends OF
SLOTS. .9s4, in comparison with s978.-
e28, or a gain so far this year in net
income of s88.056.
In the first half of this year tele-
phone calls totaled 139,865,oOO, as
compared with 129, 9,354,Oo0 in the like
period in 1885.
Morgan Home From Europe.
Charles Carroll Morgan, one Of the
managers of the Washington Office OF
G.. Mp. Murphy & Co., New York
Stock Exchange firm, was back at his
desk today after trip to Europe. He
visited England, France, Germany,
Holland and Belgium.
Mr.. Morgan visited his own firms
London Office twice and also several
other financial houses. He was much
impressed with the attitude in Lon
dons financial district toward Ameri-
can securities.
He found London flnanciers opti-
mistic on British securities, but even
more enthusiastic on American Sc
curities. They look for further ad-
vances in American markets and ex-
pect a boom in housing construction
to be one of the main factors in the
better times. These views are in line
with London dispatches yesterday to
the effect that there has been good
deal of foreign buying in American
markets in the past few days.
Mr.. Morgan returned on the Queen
Mary, which made record trip
across and is now said to be the fastest
ship afloat.
Committee Is Completed.
Thomas J. Groom, vice president
and cashier of the Bank of Commerce
& Savings, as chairman of the
Advisory Committee of Washington
Chapter, American Institute of Bank
ing. announced yesterday the compile
tion of his Chapter Committee with
the following appointments:
Willard G. Barker, president, Morris
dent, City Bank of Washington; M. F.
Calnan, president, Liberty National
Bank; j. Frank Campbell, president,
Anacostia Bank; H. Prescott Galley,
president, National Savings & Trust
Co.; H. H. Mckee, president, National
Capital Bank, and j. Frank White,
president, National Bank of Wash
tngton
5000 Checks Await Claimants.
1t Is learned that more than 5000
checks are still awaiting depositors in
the old Franklin National Bank.
These checks represent the second
dividend declared by the Franklin
Liquidating Trust and are for 8%
per cent of the original deposits in the
closed bank. or IS per cent of the un-
paid balance.
The first dividend was for 65 per
cent, so that total of 73A per cent
has now been paid former depositors.
The trustees hope to pay 100 cents
on the dollar eventually.
The checks not yet called for are
In the offices on the second floor of
the Franklin National Bank Building,
entrance 945 Pennsylvania avenue.
Financial District Gossip.
Members of the Washington Stock
Exchange have received word that
new listings on the Detroit exchange
accounted for 35 per cent of the total
stock listings for eight major ex-
changes outside Of New York in the
first half of 1886. The Detroit board
admitted 16 stocks to trading during
the period.
Average daily sales Of chain drug
stores in June, 1885, were ST. per
cent higher than in June, 1885, ac-
cording to preliminary estimates of
the Bureau of Foreign and Domestic
Commerce. Compared with the same
month a year ago, tobacco sales in
creased IA per cent, fountain sales
increased 1877 per cent, and "all
other" sales increased 2.9 per cent.
Interest In the American Bankers
Association convention, to be held in
San Francisco September 21-24, seems
to be hitting a new high. This is
evidenced by the fact that nearly
1000 reservations already have been
received, and indications point to an
attendance exceeding that of the 1929
convention. which also was held In
the California city.
Today's Trading on Exchange.
Trading on the Washington Stock
Exchange today was featured by the
sale of Is, 80 and Is shares of Mer-
genthaler Linotype at the strong price
of 461a. National Capital Bank stock
appeared on the board at 144Hs and
las, against the last previous sale al
1902.