Evening star., 1939-10-02
Loan Associa ton Celebrates.

July -- 1O1 ,1O4,931 94,366,854
August ----- 93,631,523 8S,017 063
September - 99,244,O37 89,2O3,505 |
Loan Association Celebrates.
National Permanent Building AS
sociation, which opened for busi-
ness on October 3, 1890. is now cele-
brating its 49th birthday. For the
year ending September 80 a new
all-time high in total assets is re-
ported. At the close of business
last year resources stood at S9,175,-
600, while today they are S10611 l 900,
an increase of over S1,435000.
The history of National Perman-
ent dates back to the early fall
day in. 1890, when small group
of business and professional men
opened the organization in st,
Josephs Hall at Fifth and H streets
NV. Rapid growth necessitated
early removal to larger quarters and
as time went on and the associa-
ton expanded, it was again found
imperative to seek additional space.
Last November the present build
ing was taken over, with ample Of
flee room to take care of future in
creases in business.
In entering upon its 50th year,
members have been notified that
beginning Immediately the associa-
tion will apply the direct reduction
system on interest charges to bor-
rowers. It was also stated that
the number of new share accounts
opened during the year reflected a
gratifying increase over last year.
In addition to Robert E. Buck
ley president, other officers include
Harry M. Packard, vice president;
Millard T. Dixon, treasurer, and Ro-
land NJ Brown, secretary. Directors
are John B. Geier, Joseph F. zego-
witz. Francis L. Neubeck. Alphonse
c. Hammer. James E. Collif1ower
and Charles M. Wallingsford.
August Gas Revenues Improve.
Details from the August report of
the Washington Gas Light Co. filed
with the Public Utilities Commission,
shows operating revenues of $444, STA
as compared with $421 ,449 for August
year ago, an increase of $23, ,225, as
a result of the larger volume of gas
sold. Operating expenses, including
taxes and uncollectible bills, amount
ed to S420,626 for August 1889, an
increase of S8668 over August
year ago. These figures resulted in
net operating revenue of S24048
or $14,557 more than for the same
month last year.
Incorporating revenues were S12,-
2l8, interest and amortization was
$70,145 and the final balance for
the month was seasonal deficit Of
$33,8I. Ich was, however, an i'm
provemeut of $37,846, compared
with a deficit in August a year ago
of s71,725.
Net income for the first eight
months ended August 81, 1899,
amounted to S847,54 compared with
$599,0l4 for the same period last
year, an increase of S248,526.
The company reports gas sales
of 598,980 mcf or 40,792 mcf more
than that for August, 1898. There |
were 154,072 meters in service on
August 81 gain of 5,142 over the
same date last year.
To report shows substantial ex-
per, res are being currently made
FOL extensions to property. The
company expended approXimately |
$4,000 in improvements in August |
and over $648000 during the first
eight months of the current year.
Heard in Financial District.
George w. West, of Atlanta, Ga,
elected president of the United
States Building and Loan League
is we'll known to building and loan
leaders in Washington.
Public offerings of registered bond
issues totalled over 100000 900 dur
ing the first nine months of the
current year, according to a survey
by the Fitch Investors Service. Dill
Ion, Read & Co. headed the list of
syndicate managers. Offerings man
aged under their direction totalled
$l84, ,125 900. The First Boston
Corp, and Morgan, Stanley g. Co.,
were second and third.
The Riggs National Banks con-
densed statement of condition as of
September 30 1885, shows total de-
posits of S105 ,698 ,365.78. With Riggs
deposits at this figure, it becomes
the more evident that total deposits
in all the Washington banks are now
the highest on record.
The weather hit the attendance
at the daily session of the Washing
ton Stock Exchange and only one
sale was recorded, small lot of
Washington Railway & Electric pre-
ferred moving at 1882.
Narrowing down the spread, the
bid for the newly listed National
Mortgage e. Investment preferred
stock was raised to 45s and the
asked price lowered to Al from
~ today.