Evening star., 1937-03-31


vice president and
cashier of the Liberty National Bank,
was named vice chairman. Other
members of the committee announced
today include:
Clarence F. Burton, president, City
Bank; j. Frank White president
National Bank of Washington; James
A. Soper, vice president and cashier
Lincoln National Bank: William B.
Willard, vice president National Saw
ings & Trust Co.; C. F. Jacobsen,
cashier National Metropolitan; Nelson
B. ONeal, assistant vice president
Riggs National; Aubrey O. Dooley,
assistant trust officer Hamilton Ma
tional.
While it is too early to forecast the
attendance, it is now believed that
this years convention will be much
larger than last year If last years
mark is exceeded, the convention will
be the largest since the depression.
1t is expected that around $50 men,
bers, Government officials and other
guests will attend.
Weather Cuts Gas Earnings.
The monthly report of the Washing
ton Gas Light Co. filed today with the
Public Utilities Commission reflects
the effect of the abnormally warm
weather during February this year.
Operating revenues for this February
were S748311, compared with S842.5l7
for the same month last year, de-
crease of S94 ,206.
However. operating expenses de-
creased S28,386 and the result of the
months operation after all deductions
was a net income of s138,9O9, a de-
crease of S69,432 from February of
last year. The February earnings
bring the net income of the first two
months Of the current year up to
1854, ,946, compared with S363,585 a
year ago.
The company reports gas sales of
1904 million cubic feet for February,
1887, compared with 1926 million
cubic feet last year This diminution
in volume clearly shows the effect of
the 7-degree higher average tempera-
ture this February At the end of the
month the company had 1924
meters in service in the District of
Columbia, a gain of 1911 meters over
February last year.
Maryland Building Scars.
Building in Maryland cities outside
~ Dbl ipo
per cent in February over the mark
set in the same month year ago, an
Associated Press dispatch states. The
Federal Reserve Bank in reporting the
amount of building and its cost, said
the number of building projects in
creased from II last year to AZ in Feb
ruary this year
The banks figures were taken from
the number of building permits issued
in Cumberland, Hagerstown, Frederick
and Salisbury, the four Maryland
cities covered by the report The re-
port did not assign any reason for the
increase, but observers pointed out
that the weather in February, 1887, was
much milder than in the same month
the previous Winter The warmer
weather, they said, would permit more
building to begin which otherwise
would have been delayed until Spring
In Baltimore, more than twice as
many permits were issued in Febru-
ary, 1887, as in the same month of
the previous year, but the total cost
Of the building was considerably lower
The gain in the number of per-
mits in smaller Maryland cities, of
about $50 per cent, may be contrasted
with gain of only As per cent for
the Federal Reserve district as a
whole This includes Maryland, West
Virginia, Virginia, North Carolina and
South Carolina. For the whole dis
trict, residential construction &C
counted for 4O3 per cent of the total,
as compared with 37.4 the previous
year, the dispatch said.
Heard in Financial District.
The San-Nap-Pak Manufacturing
Co., Inc, paid an initial dividend of
10 cents share on its common stock
today. The regular quarterly divi-
dend of 1712 cents on the preferred
stock was also paid today The
numerous holders of this stock in
Washington will be interested to
know that the common has now gone
on a dividend basis. The latest re-
ports of the company show a sub
stantial increase in production and
IN earnings.
American Security g. Trust Co.
stock sold in several small lots at
30l1a on the Washington Stock Ex-
change today. Woodward & Lothror
preferred was again in demand at 100
In the bond division Capital Trac-
ton SIS came out at 92a, fractionally
higher than the last previous sale
Two $1,000 bonds changed hands.
The bid on Washington Railway &
Electric common stock was advanced
from 725 to 730 share.