Evening star., 1937-07-24

penSeS, taxes and
depre citation '''' W. '"e'fS
called for S74402884. an increase of
$50,42079, or 727 per cent, leaving
net revenues from operations of SAT-
ol9,09, gain of sl5,S61.78 over June,
1886, or 1858 per cent. Deductions for
interest payments took over $4,000
The Potomac Power report for the
first six months of 1897 revealed very
substantial improvement in earnings
over the same 1886 period. Operating
revenues totaled S7,305, ,599,69, a big
increase of s311 ,63815, or 446 per
cent. Operating revenue deductions
required s4.294 1886, expenses being
S50033.72 higher than year ago.
Net operating revenues reached So
ol0.6l083, an increase of S261 ,634.43
or $50 per cent. The usual deductions
to meet interest payments required
s508,2 ,26328, substantial saving of
s90,67895 over 1886. and leaving a
total net income for the six months
of $2,548 82479. a gain over last year
Of s243 ,465l2, or 1857 per cent.
Cherry Joins Wellington Staff.
John M, Cherry. former life insur-
Ance general agent and at one time
president of the District of Columbia
Life Underwriters Association. has
become associated with the Washing
ton Office of the Wellington Founda-
ton, distributors of Wellington Fund,
with home Offices in Philadelphia, it
was reported today.
A resident of Washington for 25
years, Mr.. Cherry has been active in
the financial district and in civic af-
fairs, playing prominent roles in Com
rnunity Chest and Y M c. A. drives.
He is member of the Board of Trade
and several of the city's leading clubs
The Wellington Funds Washington
office is under the management of
William NJ Candy and Is located in
the Woodward Building.
Transit Net Up 406 Per Cent.
Net income of the Capital Transit
Co. in the first six months of this
year amounted to Sl22,1S577, against
only S24,l15.38 in the like period
year ago, an increase of S98070.39,
or 406 per cent, according to the
report filed with the Public Utilities
Commission. While half years net
of 1922 900 is small for a big corpo-
ration, yet the uptrend caused good
deal of comment in the financial
district today.
Operating revenues for the six
months summed up to 5,546 .929.6l,
an increase of s426,44557, or 8.3 per
cent. Operating expenses, taxes and
depreciation amounted to s5,l03 994.72,
up 1904 460.8l, or 6.3 per cent, and
leaving an operating income of SAP
e34.89, an improvement of $l2l 89476,
or 3.8 per cent. Revenue passengers
numbered 1851, 1893, decrease Of
822,l8l, or per cent.
June operating revenues totaled
S493, ,477.54, up Sal 6678l. Operating
expenses, taxes and depreciation were
higher, amounting to 1881, ,o53 so, and
an increase of s34.22616, or AZ per
cent. This left an operating income
of s92,42394 After charges for bond
interest, net earnings stood at S37,-
b38.45, a gain of per cent over
June year ago.
Revenue passengers totaled 1892
o47, against 14,606.5 in the same
month last year, drop of 674,517 or
46 per cent.
June Fine Insurance Month.
Washington's gain Of II per cent in
the amount OF new life insurance
written IN June over June, 1886, was
the best monthly advance reported in
long time. Agents must have dis
regarded the heat and done some tall
hWtllng, pillng up total of So
SOB 900 in new business.
For the first half year the gain of
IS per cent over the same period in
1885 involved a total of 40,08S 900
In new business. In June alone SIS per
cant OF the companies increased their
business in Washington.
Maryland had a June gain Of 3
per cent and a six-month gain of
per cent: Virginia business was up
per cent and IS per cent: West
Virginia, 8 per cent in both periods.
The Carolinas were head of last year
for the six months. New June in
surance in Maryland totaled s8833,-
900; in Virginia, s8,32l 600. and West
Virginia, s5620.000.
Washington was ahead in June Of
Boston, Chicago. Los Angeles. New
York, Philadelphia and St Louis. but
below Cleveland and Detroit in new
business gains
Heard in Fina ncial District.
julius z. Lob. a vice president of
Second National Bank, is on a month s
vacation during which he will visit
ct Macon. Ga. and the seaShore
S Clay Williams Of Winston Salem,
n. c., well known IN Washington.
has been elected a director of Amer
ican Telephone Il Telegraph Co to
fill the vacancy caused by the death
OF George F. Baker Mr Williams
is chairman of the board OF r J.
Reynolds Tobacco Co.
Wilfred A. Roper, president of the
Bank Of Commerce & Trusts at Rich
mond, this week completed 30 years
OF service with the institution. He
became connected with the bank as
q clerk on July "a, 1907. He is presi-
dent Of the Richmond Clearing House
Association and is Virginias repre-
sentative on the Nominating Com
mittes OF the American Bankers AS
sociation.
Deputy Controller Of the Currency
William Prentiss, il, is leaving for a
months vacation in Europe, shortly
after the first of August