Evening star., 1939-03-30
D. {. Utility Earnings
In First Quarter
Well Above 1888
January and February
Increases Followed
By Favorable March
BY EDWARD c. STONE.


OF this year than in the like period
a year ago, reports just filed with tht
Public Utilities Commission reveal
All four firms got away to an ex-
cellent 1899 start.
The Washington Gas Light Co
experienced the largest gain. re-
porting an increase of S94,484 over
January and February year ago
Net income totaled S465, ,281, against
S370,797 last year.
The Capital Transit Co. told the
commission that profits were S37.2Tn
higher than last year In the first
two months of 1889 net income to.
tailed s29,845. while the correspond
ing months in 1888 showed a de-
crease of S7,425
The Chesapeake & Potomac Tele-
phone Co. had a balance before
dividends of S202O01, While the bal
ance before dividends a year ago
amounted to s285 ,296, an improve
ment of Sl6,705 in the two months
IN 1889
The Potomac Electric Power Co
was the only one of the four con-
Germs reporting a decrease, net in
come being S45,775 under last year.
Total net income. however. S795, ,8Ol.
was the highest profit figure of
any of the companies.
According to comment in the
financial district, earnings in March
have been favorable, which means
that results for the first three
months of 1889 should also be well
ahead of the first quarter Of 1888,
although the exact figures will not
be available for some time.
Harris Speaks at Richmond.
Richard E. Harris, assistant treas
urer of the American Security &
Trust Co., was the guest speaker last
night at meeting of the Richmond
Safe Deposit Association. He is a
former chairman of the Safe Deposi.
Section of the District Bankers As
sociation. and spoke last night on the
value of a Safe Deposit Associa-
ton"
The 18th annual meeting of the
Bankers Association for Foreign
Trade, of which w F. Gephart, vice
president of First National Bank in
st. Louis. is president, will be held
April 2728 at French Lick Springs.
Speakers will be Warren L. Pierson.
president of Export Import Bank
of Washington, and Eugene P.
Thomas president of National For
eign Trade Council.
The Committee on Stock List of
the New York Stock Exchange has
authorized the listing of North
American Co., s2000O0O0 3l2 per
cent debentures. series due l949;
$25 ,000,0 3a4 per cent debentures,
series due 1854; s25 900, 900 per cent
debentures, series due 1859. and $685.
$50 shares of preferred stock, 5al per
cent series.
From February 2, 1882. to Deem
Der 81, 1888, the Reconstruction
Finance Corp, made 7,345 loans to
open and closed banks and trust
companies, amounting to S2,457 ,169,-
0l6. according to the annual report
to Congress.
AS noted elsewhere in today's Star.
the Bank of Brightwood is to make a
payment of 8l2 per cent to 5000
former depositors at once. according
to Receiver Frederick j. Young. This
brings payments to 63l2 per cent.
The money will be distributed at the
old United States Savings Bank,
Fourteenth and U streets NV.
Stock Offered to Employees.
At the annual meeting of the
stockholders of Eastern Air Lines
Inc, the shareholders approved the
plan of Capt. E. V. Rickenbacker.
president and general manager. tc
make available to the employees ap-
proximately 25,000 shares of the
companys unissued stock. The
stock will be sold at $40 a share
on a time-payment basis. The
shares will go on sale as soon as
registered with the Securities and
Exchange Commission.
l.. o. Head, president of Railway
Express Agency, Inc, reports that
the company has experienced
sharp upturn in business in recent
months, averaging around II per
cent Tor January and per cent tor
February. March is showing a still
larger increase, he stated. The
washington office is sharing gen.
erously in the increases, according
to officials here.
Today's Trading on EXCHANGE
Trading was dull on the WASH
ington Stock Exchange today. the
only transaction being $500 turn
over in Capital Traction SIS at 862.
This was a gain of a full point
since last week. The bonds closed
with "a bid and SO asked.
issues on the exchange soon to
pay dividends, which are being
quoted eX-dividend. include Ameri-
can Telephone, Riggs common,
American Security e. Trust, Prince
Georges Bank & Trust Co., Bank of
Commerce e. Savings, Carpet Corp.
and Peoples Drug Stores common.
Bid and asked prices were firm
today on both stocks and bonds.
The bid for Carpet Corp has ad-
vanced to 20, with none offered.
Heard in Financial District.
Hans Ireland, assistant treasurer
Of the American Security e. Trust
Co., addressed students at the
Mckinley High School yesterday on
Investing Money"
1t is now expected that 600 Vir-
ginianS will take the convention
cruise to Bermuda, May 1919, spon-
sored by the Virginia Bankers AS
sociation.
The Senate Banking and Cur
rency Committee has adopted the
Glass bill in amended form, which
permits extension of loans made
by banks to their officers from June
is. 1899, but such loans must be paid
in full at the end of three years.
The Norfolk g. Western Railway
has declared the quarterly dividend
f a IL l..