Evening star., 1939-11-02
i|iiyConlpanies
SET Fine Records
In Nine Months
Eornines for Third
Quarter Are Aided
BY September Coins
BY EDWARD C. STONE,

the Capital Transit Co., Chesapeake
& Potomac Telephone Co. and the
Washington Gas Light Co. and were
nearly equaled by the Potomac Elec-
trio Power Co., according to the lat
est financial statement filed with the
Public Utilities Commission. Sep
tember earnings were very helpful
In boosting the third-quarter results.
The Capital Transit Co. for the
nine months reported total net
earnings of $4O5, 35.O6, an impress
sive gain over the like period a year
ago of $3.50, 1903 26, or 1919 per cent,
and enough to allow So dividend
on the stock.
Transit's nine-month net income
was lifted substantially by a gain
in net earnings in September of
more than $4,000, against a deficit
last year of over $4,000. This rise
in revenues was partly due to an
increase in September passenger
traffic of almost 10 per cent. The
September record was the more
startling because the month con-
tanned five Sundays, this traffic al
ways being much lower than on
weekdays.
The Chesapeake & Potomac Tele-
phone Co. reported net earnings of
Sl,345,031. against sl,266, 100 in the
first nine months of 1888. Here
again the September figures raised
the years total considerably. At
the end of the third quarter tele-
phone calls totaled 256,278,O0O,
against 23l, ,601 900 in the like period
q year ago.
The Washington Gas Light Co.
reported net earnings of $82O,317,
compared with $553,881 a year ago,
or a marked increase of $266, ,436.
During the period expenses in
creased by $233,658, but operating
revenues showed an advance of
$338,667.
The Potomac Electric Power Co.
also made fine record, net income
amounting to $3,153,71807. This
however, was small decrease of
$69,375.17 from 1888 returns.
Pratt Heads Equitable.
Shareholders of the Equitable Co.
operative Building Association meet
ing Yesterday for the annual election
of directors observed the Goth ami
versary of the home building organ
ization. Founded in 1879 by the late
John Joy Edison, the growth of the
Equitable has been steady and con-
sistent.
After the death of the founder in
1895, Walter S. Pratt, jr., was ele-
waited to the presidency and is now
rounding out his 41st year as a mem
ber of the Equitable staff.
Following the meeting all direc-
tors were reelected. In addition to
Mr.. Pratt the board consists of
Ralph P. Barnard, Charles H. Doing.
Gilbert Grosvenor, Arthur B. Heaton,
Robert L. Lewis, Harry G. Meem,
Theodore W. Noyes, Arthur Peter,
Wilson L. Townsend and Frank j.
Stryker.
Officers are Walter S. Pratt. ir..
president; Harry G. Meem and Gill
bert Grosvenor, vice presidents; Ed
ward L. McAleer, secretary, and j.
Harold Mcdowell, assistant secre-
tary.
Home Mutual Officers Renamed.
Maurice F. Flynn was reelected
president of the Home Mutual
Building & Loan Association at the
annual meeting of the shareholders
held yesterday. Joseph F. Brashears
continues as vice president, Odell S.
Smith, secretary and treasurer, and
Marian w. Smith, assistant secre-
tary.
All directors were reappointed.
They are Karl Achterkirchen, John
Alden, Barry Black, James w.
Brown. G. w. Forsberg, r. Lee Hor-
ton, William E. Howard, John A.
Maxwell, Charles w. Morrison, Al
fred Walford and the officers.
Home Mutual, a member of the
Federal Home Loan Bank System,
Federal Savings & Loan Insurance
Corp, and the D. c. Building and
Loan League, has resources of $780,
600, according to the last published
statement.
Friends Honor Emmerich.
One of the best known figures in
Washington financial and business
circles is today receiving the con-
gratulations of his friends on the oc-
casion of his 18th birthday. He is
George M. Emmerich, secretary of
the Northern Liberty Building Asso-
citation. His record of service dates
back over SIS years.
The United States Housing Au-
thority will make its first $4,000 900
Offering in short term notes for the
financing of housing projects within
two weeks, Administrator Nathan
Straus said. After the original offer
ing, the U. S. H. A. will make addi-
tional $50,000000 offerings at six
week intervals as long as the au-
thority needs additional funds to
finance projects.
District Committee No. II of the
National Association of Securities
Dealers, Inc, of which Y. E. Booker
OF this city is chairman, has re-
nominated B. Howell GrisWold, jr.,
of Baltimore for the Office of gov
ernor from this district, including
Washington. Maryland, North Car
olina, Virginia and West Virginia.
Notices of the action have been sent
to all members in the territory.
Hugh Leach, president of the
Federal Reserve Bank of Richmond,
announced today that the Bank of
Phoebus, Phoebus. Va, has been
admitted to membership in the
Federal Reserve System.
Heard In Financial District.
Deep regret was expressed by
bankers in the financial district over
the death of Richard Hatton, for Is
years financial editor of the WASH
ington Herald, which occurred at
Walter Reed Hospital last might,
after a long illness After a long