Evening star., 1938-09-29


Georgetown Gas SIS, now at 1854
are at the years top, as are Washing
ton Railway & Electric Consolidated As
Potomac Electric Power 3As are also
at the years peak, while the two issues
Of Washington Gas Light SIS are near
that mark. The same is true of the
miscellaneous bonds, all now selling
we'll above par.
A review of the stock division shows
that Norfolk & Washington Steamboat
Co. stock, which last sold at so, is at
the years top. Potomac Electric
Power 6 per cent preferred is off a
point but is up to ll4l2. The 5la
per cent preferred is also down little
Washington Gas preferred, which
reached 1902 at one time this year
is now around 1894. Washington Rail-
way & Electric preferred stock is
strong at l10l2. The whole year has
witnessed but one sale in Washington
Railway common, which commanded
$6l650 share.
About half the bank stocks are at
their highest 1888 marks and the same
is true in the miscellaneous list, Sc
curity Storage, at lib, being the highest
priced issue in the group.
Sullivan A. & P. Stores Head.
John l.. Sullivan. who has been con-
nected with the Atlantic g. Pacific Tea
Co. for the past 20 years, has been
transferred from Charlotte, N. c., to
Washington, it was announced today
He has already assumed his new duties
as general superintendent of all opera
tions of the Atlantic &, Pacific stores
composing the Washington unit He
has had unusually wide experience in
chain store management.
Ernest L. Norris, president of the
Southern Railway, announces that
gross earnings in September have been
substantially better than in August,
revenues in the first three weeks run
ming about S550,000 above the same
week in August.
August Gas Net Shows Drop.
The monthly report of the WASH
ington Gas Light Co.. filed today
with the Public Utilities Commission
shows operating revenue of S42l, ,44e
for the month of August, this year
compared with s408,237 for August
q year ago, an increase of $13,212.
Operating expenses increased S8,480
from $403,478 in August, last year, to
$4l1,958 this August, resulting in the
net operating revenue of S9,49l, an
increase of s4.732, compared with
August, last year.
A net result of the months op-
Grafton. after all deductions for interest
and amortization, was a usual sum-
mer deficit amounting to s71, ,725.
which. however. is S4,863 more favor
able than that for August, 1887
Notwithstanding the seasonal loss,
the company reports earnings for the
eight months of s599O14, compared
with S5l2,787 for the same period last
year.
The company also reports gas sales
of 558,188 m. c. f., or 20,272 m. C. f.
more than August a year ago. AS of
August 81, 1888, there were 147, ,536
meters in service, or an increase of
1868 over the same date last year.
Bank Reports Best Year, Ever.
The Bank of Commerce & Savings
has just concluded the best year in its
history, both from the standpoint of
earnings and deposits, President M. D.
Rosenberg told the stockholders at the
annual meeting held this noon in
Alexandria. He also reported sub
stantial increase in loans, and said
that business at the branch at North
Capitol and H streets had been a very
important factor in the years results
All directors were reelected as
follows:
M. D. Rosenberg. Joseph Sanders,
Joseph H. Milans. William l.. Bush,
Thomas N. Beavers, James E. Coli
flower, E. T. Chewing, Albert S.
Galley, Vernon G. Owen, Frank
Owings, George M. Quirk. Dr. c. A.
Weaver and Thomas J. Groom, last
years president of the District
Bankers Association. Officers will be
elected at the regular meeting of the
board, October S.
Loan Concern Votes Dividends.
The Washington Industrial Loan
Co.. an affiliate of Southeastern In
dustrial Bankers, Inc, this week de-
clared dividend of per cent on pre-
ferred stock and 10 cents a share on
common, payable october l, according
to announcement by Clifton M. Eisele,
secretary treasurer Of the company. A
regular quarterly dividend was de-
clared on stock of record as of Sep
tember "a.
The parent company of the 13 in
dustrial loan companies comprising
the system-Southeaster Industrial
Bankeres, Inc.-will declare a regular
quarterly dividend October 8. This,
too, will amount to per cent on pre-
ferred stock and 10 cents a share on
common.
None of the loan companies con-
trolled by Southeastern has passed a
dividend in the seven years since the
system was founded, according to Mr.
Eisele.
Director 88 Years Old Today.
Born September 29, 1850, John Hen
derSon, vice president and director
of the Washington Permanent Build.
ing Association, today celebrates his
S8th birthday. Mr.. Henderson, son o1
John Henderson, a well-known builder
and construction man, is native ot
Washington. reared in the Southwest
portion of the city. His affiliatior
with Washington Permanent date.
back to 1906.
It is interesting to note that the
president of the Washington Perma-
nent, E. J. Sacks, is now in his 9lst
year and has served the association
continuously since its establishment ir
1881. Carl j. Bergman, treasurer
has been connectedwith the firm since
1904, making the service record Of the
three senior officers over 124 years, o.
an auAra oo eopx1ra ~ mar yS.o =,