Evening star. [volume] (Washington, D.C.) 1854-1972, 1940-12-05
D. {. Utility Concern!
Make Fine Records
In 10.Month Period
Three Report Notable
Net Income Coins
Over Lost Year
BY EDWARD c. STONE.

ties Commission. Capital Transit,
Washington Gas and the Chesa-
peake g. Potomac Telephone Co. re-
corded varying gains over last year,
while the Potomac Electric Power
Co., although reporting a decrease
in net income, still had the highest
figure of any of the four companies.
The Capital Transit Co. reported
net income of S701, 77528 in the
10 months, against S485, l3l in the
same period a year ago, surprising
gain of S216,64428, or A per cent
The Washington Gas Light Co.
registered a net income of $685.
448, in comparison with $685.
in the first 10 months of 1889, a
substantial increase of S150,899.
The Chesapeake g. Potomac Tele-
phone Co pushed net earnings to
S1.554,935, against $l,507 459 in the
corresponding months of last year,
an advance Of SAT 476.
The Potomac Electric Power Co.
reached the high figure of $685.
576.76, as compared with S3,498,-
456.20 a year ago, decrease of
1924 ,879 A, the report discloses
Christmas Savings Paid.
Nineteen Washington banks and
their branches have paid about S.
100000 to 10000 members of the
Christmas savings clubs, completion
of the distribution being announced
in the financial district today.
This money is already proving an
important factor in Christmas trade,
merchants stated, hundreds of the
checks appearing in the various
stores. A recent comparison showed
that the average payment per men,
Der in Washington would be S88 10,
while the average for the rest of the
country was figured as only S48.50.
Christmas savings clubs in the
Capital were started 20 years ago.
They have proved a great help to
members in meeting Christmas gift
buying demands and the rush of
other year-end bills. The greater
portion of these funds goes into
Yuletide shopping, yet liberal
amounts are put into permanent
savings, thus developing the habit
of thrift.
The total amount distributed to
the 1910 club members does not
prove Washington holds any ma
tional record for thrift or Yuletide
giving, but it does show the Capital
is christmas savings club minded"
to an extent hardly known else
where
Investment Dealers Meet.
B. Howell Griswold, jr., of Alex
ander Brown & Sons, Baltimore, is
in Washington today attending
tWo-day meeting of the Board of
Governors and Advisory Council of
the National Association of Securi-
ties Dealers. James Parker Nolan
of Folger, Nolan g. Co., Washington,
Is also attending the meeting. Both
are representing District No. IL.
The part the association will play
through its members in financing
national defense preparations will
be discussed and the policy the as
ISOLATION will follow in this work
will be considered. Also to be con-
sidered are the relations between
business and government, especially
in so far as the work of the special
Securities Acts Committee is con-
cerned This committee has been
discussing desirable changes in the
various securities acts with the Sc
curities and Exchange Commission
for several months.
The matter of uniform standards
for trade practices for the entire
country will be taken up. A COM
prehensive set of such standards,
covering practically all phases of
doing business in the overtime
counter securities market has been
drawn up and tentatively approved
by the National Uniform Practice
Committee This set of standards,
plus the committees report, will be
laid before the governors for action.
Full Years Business Passed.
H. Lawrence Choate, general
agent Of the Mutual Benefit Life
of New Jersey, reported today that
on November % the agency passed
the mark for total business in 1885,
To celebrate the record, a special
luncheon was held at Harvey's yes
terday. George C. Campbell was
the agency leader for November
with the firm of Gibson & Scott
in second place.
George E. Keneipp, manager of
the Keystone Automobile Club,
spoke on Washington growth and
prospects.
Trust Report Sent Bankers
The Committee on Trust Law and
Legislation. Fiduclaries Section, of
the District Bankers Association,
has sent a report to 80 members
OF the section giving a digest of
recent decisions of Importance to
the trust departments of the banks.
The report was also sent to associ-
ate members of the association,
Arlington Trust Co., Bank of Bethes-
da and Prince Georges Bank &
Trust Co.
Lester A. Lawrence is chairman
of the sections Committee on
Trust Law and Legislation.
New Holiday Record Seen.
C. w. Turner, superintendent of
the Washington Office of the Rail-
way Express Agency, predicted today
that Christmas buying may run
Is per cent ahead of last year. He
based his forecast on reports by eX-
press company officials in impor-
tant cities all over the country.
An increase in express business in
the Capital indicates that Wash
ington stores and shops and merch-
ants generally are doing more bust
ness than year ago, he said.
His report follows predictions by
Secretary of Commerce Jesse Jones
that Christmas trade will reach and
perhaps exceed the record back
in 1929.
Financial District Comment.
Trading on the Washington Stock
Exchange today opened with three