Evening star., 1939-11-30


Telephone Earnings Climb.
Net income of the Chesapeake g.
Potomac Telephone Co. in october
amounted to Sl62,42S, compared with
S157 SAB in October, 1888, an increase
of s4,785, according to the monthly
statement Just filed with the Public
Utilities Commission.
Both operating revenues and op-
Grating expenses were substantially
higher than last year. Taxes called
for Silt 1874, against S102,449 a year
ago, Interest deductions required
s48.l13, against S39,762 in October,
1888
There were 25l,143 telephones in
service in Washington at the end
of October, 1899, an increase Of $500
telephones over the previous month.
Telephone users in Washington
made 3O,722,0OO calls during the
month, or 3297,O00 more than in
October, 1898.
Net earnings of the Chesapeake &
Potomac Telephone Co. in the first
10 months of 1889 totaled S1,507 ,459,
compared with 81 424433 in the like
period in 1888, an increase of s83 ,026,
the report disclosed.
President Likes Bond Idea.
President Roosevelt expressed
much satisfaction over the Treas
ury's move to let small investors
obtain all they wanted of the $780,
100000 2 per cent bond offering
which has just been heavily over
subscribed
The Treasury announced in con-
nection with the S500000,000 issue
that investors who asked for not
more than $1,000 of the bonds and
agreed not to call for the securities
for 60 days would be sold all they
applied for.
The President said he was inter-
ested in the Treasury issues which
In the past have gone almost wholly
to large investors. If small invest
ors wanted the bonds they often
had to buy them at resale from the
large investors and at point and
half premium. In this instance
small investors may obtain the
bonds without paying any premiums.
Banks Pay Christmas Savings.
Christmas Savings Club checks
totaling $664,4 ,480 were distributed to-
day by the banks in Montgomery
and Prince Georges Counties in
Maryland. The Montgomery banks
paid S347,504 and the Prince Georges
S3l6,e76.
The Prince Georges Bank & Trust
co. of Hyattsville and Mount Rainier
is paying the largest Christmas fund,
s185 900 The Suburban National
Bank, Silver Spring and Takoma
Park, comes second in the list with
a distribution of $4,000.
Dividend Stirs Comment.
Holders of North American Co.
and of Washington Railway & Elec-
trio Co. stock we're intensely inter-
ested in yesterdays announcement
that the North American directors
had declared a special dividend on
North American common in the
form of participating certificates in
Washington Railway & Electric
common stock and representing
1I40th Of a share for each so shares
of North American common. No
fractional certificates will be issued
and holders of North American
stock will receive 33 cents in cash
for each share held.
The North American Co. is to dis
tribute 5000 shares of Washington
Railway & Electric stock in this
way. President Edward L. Shea says
the special dividend gives North
American common stockholders an
opportunity to participate directly
in its investment in the common
stock of Washington Railway &
Electric"
The step is said to give the COM
pany more f1exibility in determining
future action along similar lines.
Heard in Financial District.
The Metropolis Building Associa-
ton held open house last night ir
the completely-renovated and en-.
larged quarters at Pennsylvania
avenue and B street Sc. The of.
fees were thronged throughout the
evening Floral gifts were mos
numerous and impressive.
The First Federal Savings & Loar
Association also held open house
last night in honor of the complete.
ly-remodeled Offices. Representa-
tives from several Government
agencies we're among the swarm o.
visitors during the evening, N. F
Fallon, general manager of th'
Federal Savings & Loan Insuranc,
Corp, being among the visitors.
Trading opened on the Washing.
ton Stock Exchenge today with Cap.
ital Traction IS selling at 81 on {
$1,000 transfer Ten shares of Lib
erty National Bank stock moved a
165 and two shares of Washington
Gas Light preferred at 104a.