Evening star., 1940-07-29
W. R. & f. Declares
Quarterly Dividend
OF $40 a Share
Potomac Electric Power
Votes Payments on
Preferred Stocks
BY HAROLD B. ROGERS.

EeCOIu august 10. his is UTe second
time this year a $40 quarterly divi-
dend has been made available. One
of the same size was made available
for the second quarter. A dividend
of 50 was paid on common stock for
the first quarter of this year
Washington Railway also de-
clared on its preferred stock quar-
terly dividend of SIPS, payable Sep
tember to stockholders of record
August Is.
Potomac Electric Power Co. de-
clared a $3.50 quarterly dividend on
its per cent preferred, payable
September 3 to stockholders of
record August IS
Potomac Electric also declared
quarterly dividend of Sl.37l2 on its
512 per cent preferred, payable Sep
August Is.
On the Washington Stock Ex-
change Washington Gas Light COM
mon sold at 24l2 in two sales of 10
shares each. The Carpet Corp. went
at Is and "a, respectively, for lots of
20 and shares
Home Loans Increase.
The - regional banks OF the
Federal Home Loan Bank System
advanced nearly $4,000 GOO to their
member institutions COR home
financing purposes in the first six
months of 1910, approximately 81
per cent more than during the same
period of 1899, it was announced
today.
Net advances of nearly $4,000 900
in June alone, marking a decided
upsurge even considering the usual
demand for money for fiscal YEAR
end purposes, were being Studi I'd by
officials of the bank system as pos
Sible evidence of an unusually sharp
increase in home building.
Repayments by member institu-
tions to the regional banks III the
first six months of the year totaled
about S75 100000. But whereas S23.-
100000 was advanced in June. only
S3,600000 in repayments was re-
corded.
Loan Convention Dates Set.
Tentative reservations for the
A3th annual convention of the
United States Savings and Loan
League indicate that the District
Building and Loan League will send
a large delegation to the meeting
to be held in Chicago November
Ills.
Among building and loan officials
expecting to attend are William N.
Payne, jr, president of the District
Building and Loan League; F. Will
son Camp, secretary of the same
organization; Edward G. Baltz, Will
fred H. Blanz, Milton H. Prospari,
Thornton w. Owen. Carl j. Berg
mann, director in the national or
ganization; Rudolph w. Santel-
mann, c. H. Ellingson, Edward <.
Jones and Arthur G. Bishop.
This years program, now being
completed, indicates discussions on
every angle of home loan lending,
construction loan policies and home
taxation. Speakers will be an
nounced shortly.
Half Years Net S1,O38,O00.
Net income of Southern Railway
in June approXimated $4,000 after
all charges, compared with revised
net income of S621,582 III June of
last year. The months earnings
brought net income in the first half
year to approximately S1,038 900,
against net income of S23, ,l9l in the
1889 months. Estimated net in the
1910 half-year was equal to S173
a share on 100000 shares of per
cent non-cumulative preferred stock.
President E. E. Norris of the
Southern says that carloadings at
present are running to 10 per cent
ahead of last year. Armament busi-
ness is not effective as yet as far
as the railroads are concerned, he
said.
George B, Elliott, president of the
Atlantic Coast Line, says that
freight loadings on the Coast Line
this month are about per cent
above business in 1899. Passenger
business is a little better than a
year ago.
Washington Hotels Prosper.
Harris, Kerr, Forter & Co., ac-
countants and auditors. have just
distributed their yearbook, Trends
in the Hotel Business for 1899,
which shows that Washington
hotels enjoyed especially good busi-
ness
Room sales in Washington were
3.8l per cent better than in the
previous year. room occupancy was
3.43 per cent higher and room
rates were up 023 per cent. Res
taurant business in the Capital ho-
tells also improved. Total sales
gained 4.40 per cent. food sales were
up 302 per cent and beverages, 6.97
per cent.
On account of the two fairs, New
York and San Francisco made the
best gains in hotel revenues in 1899
San Francisco did much better than
New York, recording a gain of 81
per cent in room sales, against 19
per cent in Gotham. The same was
true of room occupancy. Rates in
New York were up 1718 per cent
and in San Francisco II per cent.
The review shows that hotels in
the South Atlantic States enjoyed
growing prosperity.
Heard in Financial District.
John Saul, executive vice presi-
dent of the American Security &,
Trust Co., has left for his vacation
IN Maine.
James Parker Nolan of Folger,
Nolan e. Co., Inc, is among those
making a trip on the United States
Lines new ship America, which
landed in New York today after a
maiden voyage from Newport News
Edward C. Stone, financial editor
of The Star. will leave tomorrow for
three-Week vacation in Maine
Legion Membership