Evening star., 1940-01-28
Store Sales Up
Sharply Here
During Week
Climb liz Per Cent,
Exceed 1899 Period
By 81 Per Cent
By EDWARD C. STONE.

Department store sales in Wash
ington for the week ended January
20 showed So per cent jump COM
pared with the corresponding week
a year ago and climbed IL per cent
above the previous week this year,
the Federal Reserve Bank of Rich
mond reported yesterday.
Cumulative sales in the four
weeks ended January 20 disclosed
gain of SO per cent, compared
with the like period in 1889, the
report added. The gain in same
four weeks in the whole fifth district
was per cent. Fol the week end
ing January 20, the fifth district
advance was 10 per- cent over last
year and per cent over the previous
week
Baltimore reported substantial
Improvement in the week and four
weeks under review. A group of
fifth district cities reported Is per
cent gain for the week over the same
week in 1889, % per cent upward
bound over the previous week this
year and tiny advance in the four
weeks, the Richmond bank stated.
January trade in the Capital will
be highly favorable, judging by the
weekly reports already presented.
1889 Phone Outlay $5,600,00O.
In his annual report, President
Lloyd B. Wilson of the Chesapeake
g. Potomac Telephone Co., states
that the company spent $500, 900
in the District of Columbia in 1899
for extensions and improvements.
In the past three years total of
$17,371, 1874 has been expended, he
said. At the close of 1899 there were
254,042 telephones in service, a gain
of 14,374 over the previous year and
an all-time high mark.
His report stated that operating
revenues of the company in 1899
totaled $12,2O5, 1888, a gain of 73 per
cent over 1888; expenses amounted
to $9,902,948, an increase of 65 per
cent due largely to increased wages
and taxes. Operating taxes called
for 81 PSI 668, an increase of $152,274,
or 1879 per cent over the previous
year. Net earnings for 1899 amounted
to $2,302, 1856, or 495 per cent of the
average cost of plant in service,
against ATS per cent year ago, Mr..
Wilson said
At the end of the year there were
1884 employees. The pay roll for
1889 amounted to $6,692 $50, repre-
senting the highest average weekly
pay in the history of the company
Benefit. payments to employees to-
tailed $l76,653. Local and long-dis-
tance calls, the report showed, in
creased 10 per cent over the pre-
vious year with total of 351 ,696 900.
Completed long distance calls were
more than per cent ahead of 1888,
Mr.. Wilson stated.
Transit Earns $2.44 a Share.
Much comment was. heard yes
terday among the 5000 Washington
stockholders in the Capital Transit
Co. regarding the annual report
filed Friday with the Public Utili-
ties Commission. Net earnings of
$587, 7,111.47 in 1899 are equivalent to
S2.44 per share on the 240 shares
outstanding This compares with
earnings of SLOT per share in 1885,
Net income revealed a gain of
1929 ,804.24 over the $257 ,307.23 total
for 1888, which was an improve
ment of 1882 per cent. Revenue
passengers numbered I'll 1865, ,729, an
increase of 10,679,518, or sc per cent.
This figure included the gain of
750,276 passengers in December,
when the company reported net
income of $55, ,39479, about $17,500
better than in the previous Decem-
ber
Capital Transit paid a 5O-cent
dividend in 1899, s120,0O0, first since
1884, when ST was distributed. With
net of over $587, 900 for 1889, many
stockholders expressed the hope
yesterday that the company will
establish regular quarterly pay
ments during 1910.
The company earned $405 per
sabre in 1884, $1.57 in 1885, % cents
in 1886, 81 cents in 1887, SLOT in
1898. The $2.44 earned in 1899
shows the most favorable conditions
since 1884.
Bank Club Elects Officers.
w. F. Blocher was elected presi-
dent of the Hamilton Bank Club at
the annual meeting, just held. The
other officers are:
E., E. Miller, first vice president:
Hubert r. Bauckman, second vice
president; Paul v. Donovan, treas
urer; Amelia j. Robinson, secretary.
Executive Committee. Kathryn D.
Fout, w. o. Rabbit, c. Merle
Duckett, Mary F. Scheuch, Robert
B. Morris, William L. Ashdown,
Elizabeth c. Mitchell, Enid H. Schu-
mucher, Louise S. Jackson, Thomas
S. Mallon, jr., and George M
Rowzee.
International Business Machines
Corp. yesterday announced appoint
ment of Harold C. Wakefield to the
position of superintendent of its
Washington plant. He was previ-
ously assistant to the superin-
tendent.
Heard in Financial District.
Thirty shares of Potomac Electric
Power 512 per cent preferred STOCK
sold at 1855 on the Washington
Stock Exchange yesterday. Wash
ington Railway & Electric preferred
moved at 116.
Washington Stock Exchange De-
cember sales totaled $123,292, COM
posed Of $44,459 in stocks and $78, 1888
in bonds, the Securities and Ex-
change Commission reports.
Julius Garfinckel preferred stock
is now quoted over the counter at
251z bid and 27la asked; common,
91z bid and 101a asked. Washington
Railway & Electric participating
units, 20 bid and % asked.
The Pennsylvania Railroads net
operating income of over $77000, 900
for 1870 1ryoc an increase of "a ner