Evening star., 1939-10-03
Utility Companies
Set Fine Records
In Eight Months
Three D. G.. Firms
Lift Net Incomes
Above 1888 Marks
BY EDWARD C. STONE.

Three of the corporations enjoyed
considerably better earnings than
In the like period in 1898.
The Capital Transit Co. reported
net earnings in the eight months
amounting to 1851, 1873 so, an increase
of $203, ,03l SO over last year, or 1884
per cent, An important factor in
the impressive gain was stepping
up of 6,511 1888 in the total number
OF revenue passengers and an i'm
provement in August alone in net
income of s28,39957. Dividend
chances appear much brighter, as
it requires only $2fO.0O0 for the
payment of ST a share on the
stock, and the company still has
four months in which to add to the
1851, ,133 already earned.
The Chesapeake & Potomac Tele-
phone Co. reported net earnings in
the eight months totaling ST pol ,344.
IN comparison with $1,133,327 in the
similar period last year. This was
gain of $68,017 over the 1888 mark
the total being helped by modest
rise in August, the financial state
ment revealed.
The Washington Gas Light Co.
reported to the Utilities Commission
that net earnings in the eight
months amounted to $847 $40,
against $599Ol4 in the correspond
ing months last year, notable in
crease so far in 1899 of $248 ,526. The
showing was helped by a S37,846
reduction in the seasonal August
deficit in 1888.
The Potomac Electric Power Co.
was the only one of the four
corporations to report a smaller net
income than year ago. In the
eight months the total net was ST.
838,967 35, off $4,000 from last year
In this instance the August returns
were not quite up to the 1888 sum-
mary. the report stated.
Returns so far in 1899 show con-
clusively that third-quarter earn
ings will be highly satisfactory.
Bank Adds s250,o0O Capital.
A S250,000 increase in the capital
Of the Morris Plan Bank of WASH
ington was announced today by Will
lard G. Barker, president. The an
nouncement said:
LAS result of continued in
crease in business, the banks Board
Of Directors authorized the sale of
1880 shares of Al per cent prefer
red stock, with par value OF $40
per share The entire S250000 issue
has already been sold privately, at
premium, through the local invest
ment firm of Brown, Goodwin &
Olds."
The Morris Plan Bank of Wash
ington was organized in 1925. In
the past two years, since moving into
new quarters at Fourteenth and G
streets NV, its resources have in
creased from $2,188 ,03045 to $4,072,-
092.77, or gain of 86 per cent. The
bank is now serving more than 80 900
accounts of individuals, according to
Mr.. Barker Total deposits as of
September 80 were $3,237 ,898.40.
Associates Honor Krewson.
Sixty agents and members of the
business Office of the New York
Life Insurance Co. celebrated the
30th anniversary of Earl D. KreW-
sons service as agency director of
the Washington branch Office at
the Columbia Club last evening.
Mr. KreWson entered the service
of the New York Life as Office boy
in the Philadelphia Office in Feb
ruary, 1902. He was later trans
ferred to Baltimore and in October,
1909, was made director of the
Washington Office with two agents
who produced $25O,OOO of life in
surance. In 1888 the Washington
branch Office produced S4,6OOOOO
of life Insurance.
Fred Munsell, supervisor of the
Atlantic department. attended the
meeting and spoke On Selling In
surance-a Service to Democracy"
Industrial War Boom Seen.
Aimed at providing the average
businessman with better per-
spective on what his business will
face during prolonged hostilities in
which the United States remains
neutral. but continues trading with
other neutrals and presumably with
belllgerents, too, report on War
and Business has just been issued
by Alexander Brown & Sons COM
pairing various industries and COM
modities and the money markets of
today with those of 1914, the Wash
ington office announces.
ut is evident that a major and
prolonged conflict abroad, in which
the United States did not become
involved, would in all likelihood pro-
duce sharp industrial expansion
here the report says. Such ex-
pansion would doubtless have a
temporary favorable effect on many
leading lines of activity and would
give some measure of relief to a
number of our immediate problems,
including the probable elimination
of our burdensome agricultural sur
pluses and a reduction in the num-
Der of unemployed, cost Of relief and
the Government deficit.
1T also appears that if the his
tory of the last war is repeated. the
best media for business and invest
ment purposes will prove to be equity
interests in those fields which Cd
find their markets stimulated by wal
conditions, CD have elastic price
structure and 90 have a minimum
of restrictive governmental control
or regulation"
Heard in Financial District.
First steps have been taken fol
listing the new Garfinckel preferred
and common stocks on the Washing
ton Stock Exchange. 1t requires 8
month before the stocks will actually
60 on the board.
Registration in Washington Chap
ter, American Institute of Banking
for the fall term has reached 256
slightly under last years enrolment
although the 1888 figures may YET
ha