Evening star., 1938-03-22
POTOMAC POWER
OUTPUT STEPS UP
KIoWatt Sales in First Two
Months of 1888 Are Well
Ahead of 1887.
BY EDWARD c. STONE.


corded in 1887 and registered sub
stantial gain over the first two months
of that year.
In January and February, 1888,
kilowatt hour sales totaled 118,499, ,906,
against 107,785,2oo hourly sales in
January and February, 1887, or a gain
so far this year of 10,7o4, 7O6.
In February alone, this year, sales
d totaled 57.871 1893 kilowatt hours.
against 52,776,655. an increase over
February, 1887, of 5.09473S, or 965
per cent. the latest Potomac Power re-
port discloses. Furthermore, with such
good output record in the first two
months of 1888. the first quarter is
certain to be we'll ahead of the like
period in 1887.
Similar business optimism is ihdi-
Gated in the February report of the
Chesapeake & Potomac Telephone Co.,
when there was an increase of 922
telephones in the Capital during the
month. On February % the city was
served by 228,930 telephones, COM
pared with 2l6.9l5 at the end of
February year ago.
Telephone calls in February also
beat the record for February, 1887,
there having been 942 1888 originating
calls per day for the month, as COM
pared with 910,026 average daily calls
during the same month last year.
Three other important business
barometers we're slightly lower in Feb
ruary this year than a year ago
bank clearings, postal receipts and
retail sales. Cancelled checks and
sales were also lower in January. but
postal receipts were higher than last
year, the latest survey discloses.
Spring Revives Building.
Thomas J. Groom. president of the
District Bankers Association, reported
today that the ushering in of spring
had brought an additional demand for
modernization housing loans under
Title I of the Federal Housing Act.
An increased number of applications
for these loans are now reaching the
desks of bank officials. he said.
About 20 banks in the District
Bankers Association are conducting
cooperative campaign to revive pub
lie interest in this type of loan. A
similar newspaper advertising cam
paign was conducted by the associa-
ton two years ago with highly satis-
factory results
The loans cover all sorts of mod
ernization and repair work and prove
a boon to the building trades. Ap-
proach of real summer weather is
expected to give the loan demand a
big push and at the same time create
lot of new jobs
The moderniza ton loan move is
more of civic step than one which
will be of much help in lifting bank
earnings, financiers said today.
Road to Wealth Charted.
While addressing Washington un-
derwriters, DR.. S. S. Huebner, pro-
fessor in the Wharton School of
Finance, outlined a sure way of mass
ing riches. It is all very simple.
Save up what money you can and
wait for a financial crash. Then go
into brokers' Office and buy one
share of just as many stocks as pos
sible.
Hold the stock until the bulls push
stocks up out of sight and then sell
every share of stock you own and put
the money in bank.
When the next crash comes, said
DR.. Huebner. buy two shares instead
of one of all the stocks you can.
Hold for the big rise and then sell out
again.
In the past there have been about
seven such opportunities in the aver
age lifetime. There may be more in
the future. The theory is perfect, he
said. Then, with broad smile, he
added:
Il am teacher, so have never been
able to carry out the theory myself.
But have been teaching it to my
students for 35 years"
Stokes to Address Students.
Horace F. Stokes, an assistant cash.
Ter of the National Metropolitan Bank.
will speak Friday at general assem-
bly, OF the Mckinley High School on
Banks Contribution to Business"
Fridays talk is another in a series
planned by the Public Education Com
mittee of Washington Chapter, Amer
ican Institute of Banking The series
has been popular in the schools of the
District and has served to aid in vo-
catlonal guidance of the student bodies.
Stuart S. Ogilvie, an assistant CASH
Ter, Second National Bank, is chair
man Of the committee
Store Votes Extra Dividend.
Directors of Woodward & Lothrop
have declared the regular quarterly
dividend of 3712 cents on the COM
mon stock and an extra disbursement
OF 1212 cents on the common, both
payable March 80 to stockholders of
record March 25. The regular quar-
terly dividend of SITS per share on
the preferred stock was also voted,
payable March 80 to shareholders of
record on March 25. Both these issues
are listed on the Washington Stock
Exchange. The common sold the
other day at $50 share, but so far
in 1898 there have been no sales in
the preferred, none of the shareholders
being willing to part with stock.
Enters Insurance Field Here.
Charles l. Haycraft, Washington
manager of the Continental Life In
surance Co., Wilmington, Del. an
nounced today that Lyle F. Parratt
has been appointed to the local staff
Of underwriters.
Mr.. Parratt is a graduate of Mary
land University College of Engineering
and was until recently connected with
Gibbs g. Hill, Inc, consulting engineers
of New York City. Mr.. Paratt is
member of the Phi Sigma Kappa fra
ternity and the American Society of
Civil Engineers. He has been promi-
nently identified with fraternal and
church circles in Washington during
his residence here for the past eight
years.
Railway Common Sells at Sis.
washington Railway g. Electric
common stock sold at $61650 a share