Evening star., 1940-01-29

of the country
in the formula E. NJ. Fisher.
ton and execution of their real es-
tate lending policies.
Dr. Fisher has been economic ad-
wiser and director of the division of
economics and statistics of the Fed
eral Housing Administration since
1884. For 10 years he was professor
of real estate management in the
school of business administration
in the University of Michigan.
For the last two years Dr. Fisher
has been a member of the faculty of
the Graduate School of Banking of
the American Bankers Association,
lecturing on mortgage financing.
Bankers See Better Trend.
Ample evidence of business conf
dence-although this confidence is
touched with note of caution-ls
found by Banking Magazines Feb
ruary survey.
With the greatest volume of bank
money in history waiting for some.
thing to happen and the greatest
opportunities in history waiting for
the money, we have the setting for
an extraordinary period of business
activity the survey says.
The monthly cross index of busi-
ness opinion, compiled by Banking
through a poll of 5000 bank direc-
tors and bank presidents in all sec
tions of the country, shows slightly
better trend as compared with the
previous months.
Of those polled, S. per cent said
that business is getting better, "a
per cent found conditions about
static and II per cent reported
decline
Attend Baltimore Banquet.
Many Washington bankers at
tended the 28th annual banquet of
Baltimore Chapter, American Insti-
tute of Banking. Saturday night,
when the guests of honor were Gov
Herbert R. O'Conor of Maryland,
w E. B. Anders, president, Mary
land Bankers Association, and
United States Senator George H.
Radcliffe More than 88 were pres
ent. The speaker was Frank w.
Lovejoy, sales executive of the
Socony-V Vacuum Oil Co., who proved
very humorous and intensely inter-
esting.
Among the bankers from WASH
tngton were J. R. MCMILLAN, H. T.
Bisselle, I. j. Roberts. D. j. Callahan
jr.; R. Earle Haycock, William Childs,
Frank M. Perley, James C. Dulin,
jr; Frederick P. H. Siddons, Joshua
Evans, jr; Wilmer j. Waller, Julian
o. Cardin, George M. Fisher, Ralph
Endicott. Richard A. Norris, Francis
E. Robey, president of Washington
Chapter; j. Earle McGeary, Walton
E. Sanderson, Joseph R. Fitzpatrick,
Kenneth Bergfeld, Margaret A.
Fisher, Edward NJ Blaiklock and
others, including John Nichols of
the Federal Deposit Insurance Corp.
and David NJ Kennedy, who is con-
nected with the Federal Reserve
Board
Pepco Earnings Up Sharply.
Details from the December report
filed with the Public Utilities Com
mission reveal impressive gains.
December operating revenues totaled
ST 1886, 1882, an increase of $72,-
36442, or 551 per cent.
Operating revenue deductions for
expenses called for 1904, ,575.21, a
decrease of $2800864, or 3 per cent,
leaving net operating revenues OF
S481 1871, which was an increase
over December. 1888, of s100,37306,
or better than 26 per cent.
Other than operating income
brought gross up to S103,278.45 more
than year ago, for gain of 27.30
per cent. Income deductions to
meet interest payments and other
requirements called for S10l 1868 49,
AS already announced, net income
of the Potomac Electric Power co
for the full year 1899 totaled s4,-
23O271.33, up S42,361.78. 1t can
readily be seen that the December
record played a vital part in the
full years earnings.
Penn Mutual Reports Gains.
John A. Stevenson, president OF
the Penn Mutual Life Insurance
Co., announced today that the COM
pany ended 1899 with 81 1863 ,568, ,675
of insurance in force, an increase of
$17818,596 over 1888 During the
year 42,552 new policies were issued
providing $139 ,946,895 insurance.
In 1899 the company paid 54,288,-
566 to policyholders and benef1ci-
aries. Receipts for 1889 were $780,
637.217, representing gain OF
S1,913,946 over last year. There was
also an increase in surplus reserve.
Assets, on December 81 were $780,
261,835, a gain of S33,632 ,025 over
1898. OF these assets, STA, ,446,972
represent United States Government
direct and guaranteed obligations.
Loan League Meets Tomorrow.
F. Wilson Camp, secretary OF the
District of Columbia Building and
Loan League, announced today that
the January meeting OF the entire
membership will be held at lunch
con meeting at the Raleigh Hotel
tomorrow at 1890 pm.
William N. Payne, jr, president
of the group, will make recon-
mendations as approved by the
recent meeting of the Executive
Council.
Usual 50 Dividend Voted.
Directors of the Washington
Railway & Electric Co., at their
last meeting, declared the regular
quarterly dividend of SO share
on the common stock, payable
February 20 to stock of record
February Is. The regular quarterly
dividend of SIPS a share on the
preferred stock was declared in
December, payable March l to
shareholders of record February Is
The regular quarterly dividends on
Potomac Electric Power 5la per cent
and per cent preferred stocks were
I1r, $Hys