Evening star., 1939-11-01

the United States Military Academy,
class of 1920.
Telephone Revenues Improve.
Details from the September re-
port of the Chesapeake g. Potomac
Telephone Co. show steady improve
ment in operating earnings, s1,006,-
872, compared with $940,677 a year
ago. Due to higher expenses and
taxes, net operating income was
also higher, amounting to $184,545,
against $165, 1902 in September. 1888.
Interest deductions called for $45,-
387; $36, ,436 year ago, leaving bal
ance before dividends of $143,687,
compared with $133, ,463 in the same
1888 month.
Operating revenues in the first
nine months of this year totaled
$9,020,461. in comparison with the
lower figure Of $8,421 ,902 last year.
Operating expenses called for $6,-
421 ,709, compared with $6,087 ,546:
taxes, $894, ,737 VS.. $6O4,102.
Interest deductions required $685.
POT, against $300,O43, leaving net
revenues of $1,345,031. in compare
son with $1,266, 100. Phone calls in
the nine months totaled 256278, 900;
year ago, 231 ,60l 900, the report
said
Usual 50 Dividend Declared.
Directors of the Washington Rail-
way & Electric Co. have declared
the usual quarterly dividend of SO
per share on the common stock, pay
able November 80 to stockholders of
record November Is. The regular
quarterly dividend on the preferred
stock had already been voted.
Last year Washington Railway &
Electric paid four regular 50 divi-
dends and late in the year added an
extra of $14, bringing total pay
ments up to $50. The stock is by
far the highest priced issue on the
Washington Stock Exchange. 1t is
SO tightly held that there hasn't
been a sale recorded in 1899. The
present bid for the stock is $500 a
share.
Two Directors Nominated.
Charles E. Reiman, president.
Western National Bank, Baltimore,
has been nominated to succeed him.
self as class A director of the
Federal Reserve Bank of Richmond,
Robert Lassiter, chairman of the
board. announces.
Charles c. Reed. vice president
and general manager of Williams g.
Reed, Inc, Richmond, has been
nominated as class B director Of
the Reserve bank, also to succeed
himself.
The ballots will be opened at
Richmond on November 16 and the
result of the election announced.
Wholesale Trade Jumps.
Sales of 1922 wholesalers, repre-
senting all parts of the country, in
creased 16.5 per cent in September
over the same month year ago. it
was announced today by Bureau of
the Census. Dollar sales of these
wholesalers amounting to $3.50, $685.
600 in September were 1872 per cent
over August, 1889
During the first nine months of
1889 sales of 1881 wholesalers
amounting to $1,737 ,472 900 were 6.8
per cent above the first three quar-
tiers of 1898.
OF IS kinds of business 81 record
ed increases for the first three
quarters of 1889 over 1898.
Today's Trading on Exchange.
Today's trading on the Washing
ton Stock Exchange was featured by
six consecutive $1,000 transfers in
Washington Gas Light IS, 1860, at
the strong price of 121A. against the
last previous sale at 118k.
Capital Traction 5s were also in
demand. selling at 95 on a $4,000
turnover. The last previous sale in
these bonds was registered at 90.
LAnston Monotype stock came out
again today, 10 shares moving at sc
and two shares of Railway & Elec-
trio preferred changed hands at 112
Mead Bill Stirs Interest.
Bankers are very much interested
in the Mead small loan bill which
Senator Mead introduced again yes
terday. Some stormy hearings are
already predicted.
Senator Mead's bill would direct
the funds now in the Treasury set
aside for industrial loans to be
turned over to a new industrial loan
corporation for making loans to lit
tie business. Senator Mead said
these funds amounted to about
4139, ,0O0,0 900. The new corporation
would be created as an agency Of the