Evening star., 1939-06-01
D. {. Utility Concern,
Make Fine Showinq
In 4-Month Period
Three Have Profits
Ahead of Lost Year;
Other Close to 1888
BY EDWARD C. STONE.

Washington's four utility corpora
tions made very fine showing in
the first four months of 1889 in COM
parison with 1888. Three reports
filed with the Public Utilities Com
mission revealed substantial in
creases in net earnings over last year
while the fourth was close to the
1888 mark
The Washington Gas Light Co.
showed the largest gain, the flnan-
cial statement revealing a net in
come in the four months of $685.
049, in comparison with $660,870 in
the like 1888 period, a gain of Sl64,-
179
The Capital Transit Co. reported
net income of $163, ,70494 for the
four months, against $84 ,034.63 last
year, an increase of $79,670.31. or
94.8 per cent in the period under re-
view.
The Chesapeake & Potomac Tele-
phone Co. reported net earnings of
1927 621 in the four months, a gain
of S20,876, as the profits figure stood
at S606,745 year ago. More $4,000
Of this gain was made in April.
The Potomac Electric Power Co.
failed to report an increase in earn
ings, although net revenues were the
largest of any of the companies, ST.
50094435, compared with $l522,-
500 10, a decrease of $2l 655 .35. With
this comany so far in 1899, operat-
ing expenses have been going up just
a little faster then operating rev.
enIes.
The striking records made in the
four months were all helped by ex-
cellent earnings reports in April,
one of the best months this year for
revenues.
Munsey Trust 26 Years Old.
The Munsey Trust Co. recently OBJ
served it's 26th anniversary, men,
bers of the official staff receiving
many congratulations on more than
a quarter of a century of banking
service rendered in the Capital. The
bank has played an active part In
the business life of the city and en-
joyed sound and steady growth.
c. H. Pope. president of the Mum
sey Trust Co., has been with the
bank ever since it was opened on
May IS, 1918. In fact, he came to
Washington from New York some
time before the bank opened to take
subscriptions for the stock. At that
time and for many years afterward
Mr. Pope was closely associated with
the late Frank A. Munsey, widely
known f1nancier and newspaper pub
Usher.
Vice president and executive head
of the bank for many years, Mr..
Pope was elected to the presidency
a year ago at this time, and Will
liam T. Dewart of New York was
made chairman of the board. Total
deposits on the last controllers call
were about $6000,000.
Loan Group Plans Outing.
Arthur G. Bishop, president of
the District Building and Loan
League, appointed a special COM
mittee at yesterdays monthly meet
ing to arrange an outing for all
members and guests, probably in
II
the Perpetual Building Association
and widely known yachtsman, was
named chairman. The other mem
bers include C. Gay Harrell, Chaplin
B. Bauman and R. E. Hotze. 1t will
be the first affair of the kind the
league has ever held.
The D. C. league will take a
prominent part in the forthcoming
testimonial dinner to Commissioner
Melvin Hazen, as the Commissioner
is president of Columbia Permanent
Building Association, one of the %
associations comprising the local
membership.
Report of the delegates to the re-
cent Southeastern Building and
Loan Convention at Charleston, S.
c., was read by Robert E. Buckley
while c. Clinton James told the
members about pending legislation.
The league approved the recon-
mendation of the Executive Council
in suggesting early closing hours
during the summer months With
the exception of Government pay
days, practically the entire member
ship will close at pm. Satur-
day closing will be at l.
Joys of Banking Depicted.
Eliot H. Thomson of the Washing
ton Loan & Trust Co. addressed the
students of Roosevelt High School
today on Banking as a Vocation" :"
He depicted the exacting life of a
banker in these days when profits
are not pouring in as fast as the
officials would like to see them. He
told the high school students that in
banking. as in all other lines of en-
deavor, hard work is required for
success; in fact, is the real secret of
success. While the responsibilities
are greater than in many other
business activities, the successful
banker has many rewards for his eff
forts, Mr.. Thomson asserted
Today's Trading on Exchange.
Capital Transit stock again sold
at IS on the Washington Stock Ex-
change today. Business was quiet,
there being only 15-share turn
over. Bid and asked prices on other
issues were steady. Peoples Drug
oVoleo pItIelIeu SUOCh Has Ueell
added to the eX-dividend list, the
regular dividend being payable in a
few days.
District of Columbia automobile
registration figures for the first four
months of this year yere 518 per
cent higher than auto sales in the
like period in 1888, while April sales
were As per cent higher than year
ago.
Directors of Standard Brands,
Inc, have declared a quarterly divi-
dend of S1.1212 on the $3.50 cumu-
lative preferred stock, payable Sep
tenber Is and quarterly dividend
of 1912 cents on the common stock,
payable July l.
Most recent sessions Of the WASH
inpt0n Stock EXCHANGE have wit