Evening star., 1939-02-09
D. T.. Public Utility
Firms Report Large
1898 Net Incomes
Two Concerns Exceed
Returns During 1887;
Others Show Slump
By EDWARD C. STONE.

bY ED w AhD y.
All four public utility corporations
In Washington reported substantial
net earnings in 1888 to the Public
Utilities Commission, two having
increases over the previous year and
two registering decreases, a review
of the figures discloses.
The Washington Gas Light Co.
reported a net income in 1888 OF
1886 AGO against s76l, ,426 in 1887, an
increase of $225 ,034.
The Capital Transit Co. also re-
ported substantially higher net earn
ings, 1888 profits amounting to $751;
BOT, compared with $136,442 in 1887,
or notable increase of $l20,865 and
better than ST per share on the out
standing stock.
The Chesapeake & Potomac Tel
ephone Co. showed net earnings of
S1,708,132 last year, against the
slightly higher figure in the previous
year of S1,869,685. This report also
reflected a large increase in the
number of calls and the number of
telephones in use during 1888.
The Potomac Electric Power Co.
returned the largest net earnings Of
any of the companies, S4,187 ,909 55,
in comparison with $4866, ,973 SO. a
decrease from 1887 of S699 064 49, or
slightly over IA per cent.
All four financial statements re-
veal large increases in operating rev.
enues and indicate that heavy eX-
penses were kept under close control.
Advertising Experts to Meet.
The midyear meeting of the
directors and the senior advisory
council of the Financial Advertisers
Association will take place at the
Waldorf Astoria Hotel in New York
this week end, beginning with the
Extension Committee sessions on
February II and u and concluding
with the board and council meetings
on February 13 and a. Robert l..
Flather, assistant secretary OF the
American Security & Trust Co., and
Eliot H. Thomson. publicity manager
of the Washington Loan & Trust
Co, will represent the member banks
of this city.
Immediately following these meet
ings the trust conference OF the
American Bankers Association will
convene and be addressed by men,
bers of the F. A. A. on the general
subject of public relations,
Express Service Century Old.
C. w. Turner, superintendent OF
the Railway Express Agency in
Washington, said today that express
service in the United States will be
100 wears old on March next. The
anniversary will be quite generally
observed by expressmen all over the
country. What has become a gigan-
tic business was founded by William
H. Harnden, a young man of 26
years, who travelled between Boston
and New York, equipped only with
a carpetbag
When asked about business in
Washington in January, he said that
shipments were we'll ahead of the
total for the first month of 1888.
Three Dividends Declared.
Directors of the Lincoln Service
Corp. Yesterday declared the regular
quarterly dividend of IL per cent
on the 6 per cent cumulative partici-
pating preferred stock. The direc-
tors also declared the regular quar-
terly dividend of Il. per cent on the
7 per cent cumulative prior pre-
ferred stock and the regular quar-
terly dividend of 25 per cent on the
common stock All dividends are
payable March l3, to stockholders
of record as of February %.
H. H Mckee. president Of the
National Capital Bank and of the
East Washington Savings Bank, as
we'll as chairman of the Washington
Clearing House Association, reached
another birthday anniversary today
He received many congratulations by
telephone as well as many greetings
in the mail
John R. Waller president Of the
international Bank, Jackson place
has just made his Goth annual
report to the shareholders. He re-
views the many changes in the
banking and investment fields in
recent years and the difficulties en-
countered in finding new and profit
able investment channels. His bank
which is not bank of deposit, is
making every effort to develop new
lines of activity which will return
reasonable profits The January !
statement Of condition revealed re-
sources and liabilities Of ST 500 ,359 80
Riggs Staff Holds Meeting. .
Julian T. Baber of the United
States Secret Service addressed
more than 200 employees of the
Riggs National Bank last night at
the February meeting of the Gus
toners Relations Council at the
United States Chamber of Com
nerce auditorium. He spoke on
counterfeit money, explained in de-
tail how spurious money can be de-
tected, and presented an exhibit of
good and bad money that aroused
wide interest. Members of the au-
dience were asked to estimate the
amount of good money, most of the
estimates being far from the right
figure. When banknoteS are raised
from $40 to $50 or any other amount
the portraits are, of course, un-
changed. This is one sure way by
which the change may be detected
the speaker said.
R. Earle Haycock, auditor OF
Riggs, also spoke, combining wit
and wisdom in a most pleasing
manner.
Credit Union Votes Dividend.
The Employees Credit Union oil
Peoples Drug Stores and subsidiary
companies in Washington, Mary.
land and Virginia declared a pei
cent dividend at its recent annua
meeting. Increasing interest in thu
Credit Union was evidenced by al
increase of 81 per cent in share de-
posts over the previous year and {
a. per cent increase in loans.
The following members wer,
elected tn tho Poord of n;root Nv.