Evening star., 1937-04-30
CLEAR|NCS STAGE
SHARP RISE HERE
April Volume Hits Best
Level for That Month
Since 1880.
BY EDWARD c. STONE.

IIe ilOllllly report Hldue llllS noon
by George H. Bright, manager of the
Washington Clearing House Associa-
tion.
Washington clearings totaled $l15,-
T5,484.33, in comparison with a total
Of Sl00,369, ,01414 in April 1885, an ad-
vance in the month ending today of
S15,326,470l9
Clearings for the first four months
of the present year have also scored
a remarkable gain over the like
period in 1886, standing at s423,242,-
857.29, as compared with 1881, ,759,-
964.58 a year ago. This is a gain
of ST., ,482, 894.7l, and splendid proof
of the business advances made in
the Capital so far in 1887.
ClearingS back in 1880 in April
totaled S1l8,036,652 98, and at the
high mark in April. 1929, reached the
sum of Sl26, ,836,1887l Today's fig
ures show that clearings here are
working rapidly back to the all-time
peaks of the boom days
ClearingS in the first four months
Of 1887 compare as follows, with the
corresponding months in 1896:
1887 1886.
January S1OO 562 ,G83.88 S86, $50 ,549.4
February 92,1e2.37O5S 78,O24, ,52l.81
March - ia, 1872 ,9l8.5O 86, 355, ,87919
April Ills, ,7l5,4 33 100. 389,0 ,0l414
Phone Earnings Higher
In a modest March advance, net
earnings of the Chesapeake & Poto-
mac Telephone Co. totaled Sl67, TAB, in
comparison with s165,55 in March,
1886, the monthly report made today
to the Public Utilities Commission
stated
Operating revenues totaled S944059,
against S886,373 a year ago. Operat-
Ing expenses Offset part Of this in
crease, standing at S678,04l, compared
with $500, ,044 in the same month a
year ago, leaving net operating reve-
nues of s266,018, against S247,329 in
March. 1886.
Taxes were heavier-S82 ,284, against
$685. year ago. There was a small
tncrase in incorporating income. max
ing total gross income amount to
sl85,923, compared with S17s646 in
March 1886. Interest deductions called
for Sl6,l75 this year in comparison
with Sl3,09l year ago.
The report filed today also shows
that operating revenues in the first
quarter of 1887 totaled S2,760,805
while this item stood a year ago at
s2,635,35 Operating expenses were
heavier-Sl 947 ,937, comparing with
Sl,o5l 1882 last year. After deduction
of operating taxes of S252.186, COM
pared with s214,344 last year, net
operating income amounted to $780,
685, while the same figure last year
was s569,625
Incorporating income showed i'm
provement, but interest deductions
we're higher-S55,746, as compared
with SAL ,988-leaving a net income for
the first quarter of 1887 of S5l2,080,
against S529036 in the like period in
1896.
Washington was served by 2l7,961
telephone at the end of March, a net
gain of l,046 over the previous month
There was also notable increase in
the number of telephone calls in
March and in the three months over
the same months last year.
Gas Earnings Slightly Lower
The monthly report of the Wash
tngton Gas Light Co.. fled today with
the Public Utilities Commission,
shows operating revenue for the
month of March of S768,268 compared
with S694O55 for the same month last
year, an increase of s74,2l3. Operat-
ing expenses also increased from
s487769 in March last year to $685.
857 in March this year, due to the
larger volume of gas produced and the
greater number of customers served.
The net result of the months oper-
alton after all deductions was net
income Of Sl39,042, decrease of but
S5l52 from March of last year, despite
increased taxes and increased charges
for the retirement of property. The
March earnings bring the net income
for the first quarter of the current
year up to S403,991.
The company reports gas sales of
1,117,000,00O cubic feet for March,
1887, compared with 9SOOOO,00O cubic
feet last year, an increase of IA per
cent. At the end of the month the
company had 145,434 meters in service
in the District of Columbia, gain
of 1916 meters over March last year.
First-quarter comparisons show that
operating revenues amounted to ST.
246,504, against $2,325,9 $50 in the like
period in 1886, drop of $79,452 At
the same time operating expenses, in
cluding taxes, advanced to 81 500 443
from ST, ,585 ,401 year ago, leaving net
revenues from operations of S637 061,
against S740.555 a year ago, a de-
crease of Sl03 ,494.
Incorporating revenues were more
than $4,000 above last year. Interest
for bond requirements and amortiZa-
ton required $4,000 more than in the
first quarter in 1886. This left a net
income of $4o3 ,991, compared with
s103,787.
Today's Trading on Exchange.
Mergenthaler Linotype was a bit
stronger on the Washington Stock Ex-
change today three 10-share lots
selling at 46. Ten more sold at 457s.
Capital Transit opened 13 and closed
at 1874.
RlggS NdtlOIldl bdllk common dp-
peared on the board in a tWo-share
sale at 305. Potomac Electric Power
bl2 per cent preferred changed hands
on a very small sale at l1012.
The days market closed with sale
of 40 shares of Real Estate Mortgage
e. Guaranty preferred at SIS, I'M
changed. Bonds were neglected.
Auto Financing on Increase.
The dollar volume of retail financing
OF new passenger automobiles shows
an increase of per cent for the month
of March, as compared with March,
1886, and an increase of SO per cent
compared with March, 1885, accord
Ing to estimates by the Department Of
Commerce AS compared with Feb