Evening star., 1940-03-02


month in revenues, 3.0S per cent
increase over January, 1889.
Today's report follows the Febru-
ary statement on Washington bank
clearings, which revealed gain OF
more than $l0,0O0,000 over the total
Cancelled checks in February, 1899
February clearings amounted to
$93,158, ,189.
The sharp gains in postal rev.
enues for the first two months OF
1910 furnish very definite indica-
tions of constantly improving busi-
ness conditions in the Nations
Capital.
Wilson Again Phone Chief.
Lloyd B. Wilson was reelected
president and G. A. Robinson vice
president and general manager OF
the Chesapeake & Potomac Tele-
phone Co. by the board of directors
at the regular monthly meeting held
in Washington Thursday. John A.
Remon and Walter B. Clarkson were
reelected vice presidents, Philip O.
Coffin, vice president and secretary;
Ralph A. Van Orsdel, vice president
and general counsel, and Thomas
3. Clarkson, treasurer.
Other officers elected were Frank
lin H. Kenworthy, general auditor;
F.. w. Bradbury, auditor; E. G. Bliss,
assistant to general manager; D. E.
Mccoy, general commercial mana
ger; R. w. Prince, chief engineer;
S. F. Merriam, general traffic man
ager, and John c. White, general
plant manager.
According to Mr. Robinson, ex-
penditures amounting to little over
$220,000 for construction Of tele-
phone plant and installation of
equipment in the District of Co
lumbia have been authorized for the
year to date
About $4,000 of the amount ap-
propriated will be spent for private
branch exchange and associated
equipment to be installed in the new
Social Security Building on Inde-
pendence avenue, Third, Fourth and
G streets S.W.
Nearly $4,000 will be spent by
the company as its share in ST.
100000 project involving construc-
tion by the Chesapeake & Potomac
Telephone Co.'S of Washington and
Maryland and the American Tele-
phone e. Telegraph Co. of toll
cable to supplement existing cable
facilities between the Nations Capt.
tai and Baltimore.
Continued Growth Shown.
The recent reports of the business
of Julius Garfinckel & Co., Inc,
for the six months period ended
January 81, 1910, naturally direct
attention to the fine record made
by this business during the last few
years under the management OF the
executors and trustees of the Gar
flnckel estate.
The very satisfactory showing OF
increase in volume of business and
earnings of the Garfinckel company
for the six months period ended
January 81, 1910, is continuance
of the progress which has been made
in, volume of sales and earnings
since the business has been handled
by the executors and trustees of
Mr.. Garfinckel subsequent to his
death on November S, 1886.
The volume of sales for the fiscal
year ended July 81, 1886, the last full
fiscal year of operation under the
personal direction of Mr.. Garflnckel,
was $3,174, ,668.59. The volume OF
sales for the fiscal year ended
July 81, 1899, was $3,4O1, ,50129.
Real Estate Bonds Quiet.
At the close of February real
estate bond prices were just l per
cent ahead of the 1899 close, accord
ing to the latest Amott- Baker Realty
Bond Price Average Bulletin. The
average price of a $1,000 bond is
now $317, compared to 1914 on De-
cember 81, 1885, During February
this average suffered decline of
ST per $1,000, which represents a
loss of per cent in the % days.
Sixty-four of the 200 issues used
as the basis for the average in
creased in price, II closed at the
same level, while SO showed lower
bids at the end of the month. Sew
eral Washington issues are used in
the compilation.
Apartment hotel issues averaged
e252 per $1,000 at the close of 1885,,
at the close of January, 1910, and
again at the close of February.
Office buildings improved Z per
cent; theaters, S per cent, and
housekeeping apartments, 3 per
cent in February.
For the two months theater
properties lead with rise of SIS
per cent to the highest average
price, in any category. namely, s745
per $1,000. Hotel issues have risen
per cent in the two months; Office
buildings, IL per cent, and house.
keeping apartments, is per cent.
Heard in Financial District.
Robert v. Fleming, president of
the Riggs National Bank, is spend
ing short vacation in Florida.
Paul H. Primm, of the local agency
OF the Mutual Life Insurance Co.
of New York, ranked in first place
for the number of lives insured and
third place for volume of paid busi-
ness in the South Atlantic division
during 1889.
Washington stockholders in the
General Electric Co. will receive a
dividend of IS cents a share on the
common stock on April Is, instead
Of Is cents share paid year ago.
The annual meeting of the stock
holders of the Capital Transit Co.
will be held Monday at the head
offices in Georgetown.