Evening star., 1938-08-01
UTILITY EARNINGS
SHAPE UP WELL
Four D.. c. Corporations
Report Striking Results
in First Half Year.
By EDWARD c. STONE.

III earnings III tllS ilSt OLA iloilelLo VA
1898. While all these concerns did
not earn as much as they did year
ago, they showed substantial profits
during period when general business
was under the 1887 marks.
In the first six months of this year
the Potomac Electric Power Co. re-
ported net earnings amounting to
s2.22485732, a decease of 1928, ,967.47
from the similar period in 1887 This
was a drop of 1911 per cent. but also
shows that the big corporation is
highly prosperous.
The Chesapeake g. Potomac Tele-
phone Co reported net earnings in
the first half of 1888 as S890,ll6 in
comparison with Sl,01o,910 in the like
six months in 1897. While this bal
ance before dividends is lower than
it was year ago, the company made
fine record in installing new phones
and reported some very notable in
creases in average daily calls, placing
the corporation high among the units
of the Bell System.
The Capital Transit Co. reported a
net income of sl64,36350 in the six
months under review which was a
stepping up of s42.17I73 over the
same period year ago-54 per cent.
The transit company had gain in
operating revenues in the six months
of S1l6,490e5, although expenses,
taxes and depreciation we're also
higher. Stockholders are already talk
ing of the possibility of some kind of
q dividend this year. but officials Of
the company are silent on the subject
The Washington Gas Light Co. re-
ported the largest half-years increase
In net earnings. S90.702. Net income
amounted to s72e,O80, against S638,378
last year While operating expenses
were sl6l 1898 higher than last year,
operating revenues scored f. gain of
s256,0l5.
The gas company had net oper-
sting revenues of Sl,l72 959, a
gain of over $4,000. Incorporating
revenues dropped 1851 from last
year. Interest and amortizat ton re-
quired $487,3o8, which was 1881
more than in the first six months of
1887. The company reported 1894
June than on the same date a year
ago.
Loan Assets Break Record.
Total resources of the % building
and loan associs tions doing business
IN Washington are reported at the
highest figure ever attained. accord
Ing to an analysis as of June made
by ?, Wilson Camp, secretary of the
District Of Columbia Building and
Loan League.
Comparison of the six months
progress from December 81, 1887,
disclosed that the gain in assets to-
tailed s5,6l5,76e during this period, the
largest increase on record. The re-
sources Of the group on December 81
we're Sl20,614. 900, while on June 80
they had grown to s126,229,7e6.
Mr. Camps report contained many
significant indices, all pointing to an
early revival of business, particularly
IN the building trade. Loans made
by the associations during June
amounted to S3.022,029, which sum
represented 743 individual loan trans
actions.
The number of new share accounts
opened in June showed a satisfactory
increase, $50 being added to those al
ready possessing building and loan
accounts. Since January ! the net
gain in new share accounts was 2,253
1t was stated that Washington en-
Joys the distinction of having the
largest building and loan association
In the COUNT. Last available figures
show the Perpetual Building Associa-
ton still tops the associations of the
United States with assets in excess
OF s47OO0Oo0.
Many Bankers on Vacations.
Robert " Fleming. president OF the
Riggs National Bank, has gone to
Rehoboth Beach, Del, to spend a
months vacation at his summer home
there.
Howard Moran. vice president of the
American Security & Trust Co., has
returned from his vacation. Frederick
P. H. Siddons, secretary OF the same
institution. has returned from his va
cation in Maine
Francis G. Addison, jr.. president
OF the Security Savings & Commercial
Bank was back at his desk today after
a months outing at Bethany Beach,
Del.
Lanier P McLachlen, president of
the McLachlen Banking Corp. has
returned, his vacation passed at Beth
any Beach
John A. Reilly, president of the
Second National Bank will spend the
month of August at Stone Haven. near
Cape May
I. j. Roberts, one OF the assistant
cashiers of the Riggs National Bank
has gone to Cape May for his annual
vacation Of month.
A. E. Henze. head of the order de-
partment at w. B. Hibbs g. Co., has
returned from short vacation.
Millard S. Yeatman assistant CASH
Ter, Columbia National Bank. has re-
turned from a vacation at one of the
shore resorts
Heard in Financial District.
With the National City Bank divi-
dend checks received here today was
letter from President James H.
Perkins in which he reviewed the
banking and economic situations very
thoroughly, explaining the difficulty
Of keeping up earnings in the face of
the very limited number of CONNER
eial loans. The capital market has
recently shown signs OF improvement
he says. at the same time expressing
cheerfulness over the outlook for the
balance of the year
Several Washington life insurance
men are making plans to attend the
annual convention of National Asso-
citation of Life Underwriters at Hous-
ton. Tex. September 1923 Many of
the leading insurance experts will ap-
pear on the program, soon to be an
nounced.
Business has reached the highest
level in Is weeks, United Business