Evening star., 1940-06-13

Frank M. Hall. president of the
club during the last year.
. J. Clifford Folger of Folger, Nolan
l. Co. is slated for election as vice
president, and Myles H. Quail OF
Y. E. Booker & Co. is down for cleo
tion as secretary and treasurer
Governors slated for election are
Harold C. Patterson of AuchincloSs
Parker g. Redpath and G. Fenton
Cramer OF Waggaman, Brawner
& Co.
The Nominating Committee is
made up of Kenneth S. Wales of K
S. Wales g. Co., James H. Lemon
partner in Johnston, Lemon & Co.
and C. Carroll Morgan, who is with
Laidlaw & Co. All three are former
presidents of the club.
: The annual outing promises to be
one of the best in years, with about
200 members and guests present, an
exciting mock stock exchange ses-
sion and an elaborate dinner fol-
lowed by the election of officers.
Among prizes to be awarded at
the outing are new automobile
pocketbook containing $3.50, IS
shares of Capital Transit stock,
wrist watch, orders on stores for a
generous amount of goods, 20 con-
ISOLATION prizes and several door
prizes. The Acacia Cup, other golf
prizes, honors for horseshoe pitch
ing and putting, will be presented
during the dinner.
/, Utility Earnings Show Gains.
t'Three of the four big Washington
utility corporations reported to the
Public Utilities Commission higher
earnings in the first four months of
1910 than in the same period in
1889, a study of their financial state
ments reveals.
The Washington Gas Light Co.
reported the best gain, net income
of S992,851, compared with $685. ,049
a year ago, or an upturn of S167,802
in the four months. This figure in
cluded an increase of $22,378 in
April.
The Capital Transit Co. reported
net income of $197,51978 in the
four months, compared with $163,-
70494 year ago, an increase of
$33,8l4.o4. In April alone, net earn
ings reached $50 ,987.92
The Chesapeake g. Potomac Tele-
phone Co. had a four months net
income of $657 ,205, which was $40
584 ahead of last year. This total
included net income in April
amounting to s168,626.
The Potomac Electric Power Co.
reported the largest net income
among the four corporations for the
period, 81 1,444,7l349, against $780,
94435, $56,23o89 under 1899, but
highly satisfactory in the face of
maintenance work and expansion.
Extra, Regular Dividends.
Directors of the Bank of Com
merce & Savings, meeting yester-
day, declared a regular quarterly
dividend of $3.50 per share and an
extra dividend of 50 so per share on
the outstanding stock, payable June
% to stockholders of record June 20
The stock has been on an annual
dividend basis of SIS for several
years.
incidentally, this is the highest
priced bank issue on the Washing
ton Stock Exchange. the present bid
standing at $500 a share, with none
offered at any price.
Capital Transit figured in two 25
and one 20 share lot sales on the
Washington exchange today at 12
Washington Gas Light preferred
came out at 1912 on a 1O-share sale
and single share of Washington
Railway & Electric preferred moved
at 1912. Bonds were neglected.
Few changes were noted in bid and
asked prices.
Memorial to w. w. Spaid.
Francis E. Robey, retiring presi-
dent of Washington Chapter, Amer
ican Institute of Banking, said IN
his annual report presented at Hot
Springs:
One of the stanchest supporters
of the chapter was the late w. w.
Spaid, who died May 81, 1888 He
was president of the chapter in 1914
and continued an active interest in
chapter affairs until the time of his
death. In appreciation of the fine
service which he rendered the chap
ter and to perpetuate his memory
we have prepared a silver plaque
to be placed in the chapter office,
which will be known as the w. w.
Spaid Memorial, and on which will
be inscribed each year the name of
the student receiving the highest
general average in the pre-standard
and standard courses
Remington Rand Club Elects.
The Remington Rand Club, made
up of the 125 employees of the sales,
maintenance and office departments,
has elected the following officers for
the coming year.
President, George E. Harris; vice
president, David H. Rhodes; treas
urer, Linn c. Colwel; secretary, Miss
M. I. Barker. Board of Directors:
L. P. Payton, r. F. Powell, R. T.
Slaby, H. D. Drake, H. D. Henley,
H. H. Hemsley, c. Whistler and Miss
I. E. Coyle.
Utility Plans Threatened.
The utility division of the Secur-
tiles and Exchange Commission has
adopted an Interpretation of the
death sentence" in the Public Util-
ity Act of 1885 which, if upheld,
will foredoom integration plans pro-
posed by at least five major utility
systems, says the Wall Street Jour-
nal.
In effect the present S. E. C. inter
probation of the law would restrict
each holding company system to one
compact geographical area, COM
posed of perhaps two or three States
A holding company could not, for
instance, retain control of one oper-
sting utility system on the Atlantic
seaboard and another in the Middle
West.
The North American Co is named