Evening star., 1940-11-04
D. {. Utility Firms
Make Fine Records
In 9-Month Period
Three Corporations
Report Net Earnings
Well Above Year Ago
BY EDWARD C. STONE.

responding nine months IN 1889, ac-
cording to the financial statements
filed with the Public Utilities Com
mission In spite of g. decrease, the
fourth corporation reported highly
favorable results.
The Washington Gas Light Co.
reported net earnings in the nine
months amounting to 1868 ,851, COM
pared with $820,3l7 in the like 1889
period, an increase of s143,534. In
this instance, the September re-
turns did not help the total, as net
earnings showed a decrease of S6,380
more than last year.
The CAPITAL Transit Co. rang up
net earnings of S564,309, against
S4O5,735 a year ago. Jump of $l58,-
STA. This sharp gain was helped
materially by an advance of S51.O
in net earnings in September, when
total net revenues amounted to
S95,6O8.
The Potomac Electric Power Co.
noted a decrease in earnings in the
period under review. Net income for
the nine months amounted to ST.
876,958, in comparison with $3,153,-
718 in 1899, a decrease of $276, ,759,
or "a per cent. A decrease of $lO9,-
900 in September was a factor in
the lower total, the months income
standing at $2O4,946.
The Chesapeake & Potomac Tele-
phone Co. informed the Utilities
Commission that net earnings in the
nine months totaled s1,384,899,
against S1,345 03l in the correspond
ing months last year, a gain of
S39,S68. The same report showed
that telephone calls this year num-
bered 287, 800 900, compared with the
much lower total of 256, ,278,000
year ago.
Starkweather Comes to Front.
John K. Starkweather of Stark
weather & Co., New York, has been
nominated for election as a vice
president of the Investment
Bankers Association of America, it
was announced here today. Mr..
Starkweather was placed on the
ticket named by the Board of Gov
ernors for presentation at the
annual convention of the associa-
ton in December in place Of Joseph
P. Ripley of Hartman Ripley & Co.,
New York.
Mr.. Starkweather is at present
a governor of the I. B. A. and one
of the most prominent leaders in
the recently expanded activities OF
the association. He has been
member of the six-man Public In
formation Committee that has di-
rected the associations information
program since its inauguration last
May. He is serving his second year
as chairman of the associations
Federal Legislation Committee and
his third as a member of the
Securities Acts Committee. He is
now in direct line to become the
next president Of the association.
Months Exchange Trading.
The Securities and Exchange
Commission reports that the total
market value of trading on the
Washington Stock Exchange in
September was s79,981 The market
value of stock trading was S37,75l
on a turnover of 1,143 shares. The
value of bond market trading was
s42,230 and the principal amount
S41,000.
Holders of 81 per cent of the Ana
costa & Potomac River Railroad
first 5 per cent bonds and 83 per
cent of the City & Suburban Rail-
way of Washington first per cent
bonds have deposited their holdings
in assent to the plan proposed by
the Capital Transit Co. and the
Washington Railway & Electric Co.
These deposits exceed the minimum
requirement Of 30 per cent neces-
sary to make the plan effective.
New Insurance Manager Named.
Jack F. Crofoot has been ap-
pointed manager of the Connecti-
cut General Life Insurance Co.'S
Washington office, F. Hobert Havi-
land, vice president in charge of
agencies, announced today.
Mr.. Crofoot was graduated from
the University of Pennsylvania in
1928. Previous to joining the Con-
necticut Generals Philadelphia Of
fee in 1882, he was in the invest
ment business After several years
experience in personal solicitation
and management work, he was
transferred to the company's Chi
cago Office as assistant manager.
In 1897 he was moved to the home
Office in Hartford as agency as
sistant.
Mr.. Crofoot will take the place of
Armand Durant, who wishes to de-
vote his entire time to personal
production for the company.
Traders Focus on Election.
Stock market interest was at
very high ebb in Washington board
rooms today. All the conversation
centered around probable election
results. The war temporarily was
forgotten; so was the present in
dustrial boom in this country due
to the defense program.
Today's market opened favorably
with a moderate advancing trend.
Traders, however, expressed most
interest in Wednesdays opening.
Everybody predicted very heavy
trading, regardless of the election
outcome.
Veteran brokers differed widely
In the forecasts. Ticker notes from
Wall Street also left market fol-
lowers in a most uncertain mood.
The only agreement seemed to be
in the prediction that Wednesday
will be one of the biggest trading
days of the year.
Transit Hits New 1910 Peak.
Fifty shares of Capital Transit
stock sold at II on the Washington
Stock Exchange today, new 1910
high mark. The market closed with
l6 bid and 18 asked. In the bond
division $1,000 Capital Traction IS
sold at 1O3%. The exchange will be
closed tomorrow.
The National Stationers Associa-