Evening star., 1938-03-16

per share on the 81
common stock. $s&
against STA ,,m..r ro,,r,v
share on COM
mon stock a year ago.
Expenditures for fuel for electric
and heating operations showed an IN
crease of about s6eOO0o as compared
with the previous year, President
James A. Fogarty stated.
Total pay roll costs for North Amer
lean utility subsidiaries. excluding
direct charges for construction, in
creased approximately S2,200,000 as
compared with 1886,
The various taxes imposed by Fed
eral, State and local governments
required total provisions for 1887 of
Sl7,625,648. compared with sl6,984.-
895 in 1886.
Total provision for Social Security
taxes in 1887 amounted to approx
mately sl.O00.0OO as compared with
about $375,000 in 1886.
1t was a big year for output and
sales. Total output amounted to
6,448l27.8O2 kilowatt hours. an in
crease of TIL per cent, and largest
in the concerns history.
There was an increase of 20,523 in
the number of residential electric GUS
toners during the year. The total
number of electric customers reached
1,l91, 1863.
Another steam-electriC generating
unit will be added to the Washington
plant during 1888, President Fogarty
announced.
The Potomac Electric Power Co. in
November issued and sold an addi-
tional 100000 of its first mortgage
bonds, 81. per cent series, due 1886, to
provide funds for construction ex-
penditures and working capital, the
review added.
Building Interest Growing.
The United States Chamber Of Com
merce reports that there has been an
unusual response in the way of COM
munity interest and activity to the
new housing legislation. particularly
to the revival of the Federal Housing
Administrations modernization pro-
gram.
The better housing COMMITTEES which
the Federal Housing Administrator has
revived are working in virtually all
cases IN close cooperation with cham
bers of commerce. There is every
disposition on the part of the admin
tstrator. as we'll as officials of local
chambers, to encourage these co-opera-
tive arrangements.
1t Is recognized that residential
building is a localized activity and the
problems which beset it must be solved
by local interest and leadership, not
only on the part of business men, but of
labor and of civic leaders.
Fine Insurance Year Noted.
Thomas A. Buckner chairman Of
the board of the New York Life In
surance Co., reports that policy holders
and beneficiares were paid over $751;
100000 during the year 1887.
New life insurance issued during the
year amounted to s477.O00,O00 an in
crease of 26.0OOooO over 1885. In
surance in force on December 81. 1887,
aggregated s6,770.OoO, 900, a gain Of
100000, 900 over the close of 1896.
Assets on December 81, 1887, we're
s2.52O,OOO. 900 an increase of sl16,0o0,-
900 during the year.
Dividend Policy. Approved.
Directors of the Mergenthaler Limo
type Co.. meeting yesterday. approved
a policy of delaying any consideration
of dividend action until shortly before
the end of the fiscal year. September
80. The decision. according to state
ment by Joseph T. Mackey, president,
is due to increasing acuteness of the
business recession. The dividend ac-
tion due on February Is was omitted
at that time.
Mergenthaler Linotype stock is
listed on the Washington Stock Ex-
change and at times is very active.
The last sale was made at 20, the low
for the year. The high for 1888 was
24a4. The stock is widely held here.
Auditors on Baltimore Visit.
About 40 members of the Auditors
Section of the District Bankers Asso-
citation will Journey to Baltimore to-
morrow night to be guests of the
Maryland Auditors Association, car
rying out the plan of frequently ex-
changing visits. The Washington
bankers will have special car at
tached to one of the regular trains,
an excellent program already having
been arranged for their enjoyment.
The Chesapeake &, Ohio Railway re-
ports for the first two months of this
year net earnings equal to "a cents
share on the common stock. in COM
parison with so cents per share on
the common in the first two months
Of 1887.
Business Group Growing.
William P. Ames. chairman Of the
American Federation of Little Busi-
ness, announced here today that seven
more members have been appointed
to the National Advisory Committee.
A new member at large is Miss Nola
Minton, Barbourville Hickory Mills.
Barbourville, KY. famous breeder of
saddle horses. industrialist and club
woman. She has been in business
since 1914.
Financial supervision of the fedora
ton is now in the hands Of Claude
Livingston. jr., Washington real estate
man, who has been named treasurer.
Today's Trading on Exchange.
Capital Traction IS sold at 66 on the
Washington Stock Exchange today.
Washington Gas SIS, 1858, came out at
los on two sales.
Capital Transit stock opened at 7ss
and moved up to rs on two small
sales. Lanston Monotype appeared on
the board today, 10 shares changing
hands at 10.
GIMP. Murphy g. Co. are members
OF a syndicate which Is offering ST.
415,4o0 City Of Albany per cent and
"a per cent bonds, due March l, 1882
1878, inclusive.
The Boston Stock Exchange has
asked the Securities and Exchange
Commission for authority to add is