Evening star., 1940-07-08
utility Earnings
Make Fine Record
In Five Months
II
/ Substantial Guins
Mean Satisfactory
First Half Year
BY EDWARD c. STONE.

half of 1889, according to latest
reports filed with the Public Utilities
Commission.
The Washington Gas Light Co.
reported the largest income increase
over last year. Net revenues in the
five months amounted to $1,107 ,489,
compared with $953,778 in the like
1889 period, sharp advance of
$l53,711.
The Capital Transit Co. reported
the next best gain in the five months
when net income totaled 1902 ,046 IL,
against S24S,9l2.56 a year ago. an
upswing of $50 3,l3356 or 21.3 per cent.
The Chesapeake & Potomac Tele-
phone Co. pushed net earnings for
ward, reporting to the commission
net income of S622,767 in the five
month period, against S782,003 in
1889, an increase of S4O,764.
While the Potomac Electric Power
Co. failed to exceed last years earn
ings mark. yet net income was larger
than recorded by any of the other
companies The five months net
revenues totaled S1,753. .79l. .26, COM
pared with $3.50, ,32831, off S76,-
747.24 or 4.l9 per cent.
Favorable Half Year Seen.
The five months record furnished
very cheerful reading. From the
figures. it can be seen that the half
mill Ioe 1,io 70
concerns will top last year: the other
may reduce the decrease in June,
returns for that month not yet
being available.
Holders of the securities will gar
ner lot of cheer from the first
half year results. At the same time
they are already looking for a
favorable third quarter.
While all four companies reported
higher expenses in the half year,
the figures show they were kept
well in hand. No doubt they will
be given the same scrutiny in the
third quarter.
In the first half of 1889 the WASH
tngton Gas Light Co. reported a
gain of S245 900 over 1888, the Ches-
apeake & Potomac Telephone Co.
upturn was S34599, Capital Transit
net revenues moved from practically
nothing to $124,000, and Potomac
Power reported decrease of $4,000,
the records reveal.
Past Presidents Listed.
For historical purposes, District
Bankers Association officials recent
ly compiled list of past presidents
since organization The list runs
from the first official in 1901, Thomas
Hyde, down to Ord Preston, who was
succeeded by A. M. McLachlen at
the last convention. The honor roll
includes: 1901, Thomas Hyde; 1902,
F. c. Stevens; 1903 Charles ]. Bell;
1904, John H. Moore, Albion K. Par
ris; 1905, John Joy Edison; 1906, c.
F. Norment; 1907, w. V. Cox; 19OS-9,
z. j. Stellwagen; 1910-11, w. A.
Mearns; 1912, George w. White;
1913, H. H, Mckee; 1914, B. F. Saul;
1915, George E. Fleming; 1916, w. T.
Galliher; 1917, John Poole; 1918.
Corcoran Thorn; 1919. Maurice D.
Rosenberg; 1920, Robert N. Harper;
1921. John B. Larner; 1922. Joshua
Evans, jr.; 1928, Harry " Haynes;
1924, Victor B. Deyber; 1925, Francis
G. Addison, jr.; 1926, Howard Mo-
ran: 1927, W. w. Spaid; 1928, Robert
V. Fleming, 1929, Wilmer J. Waller:
1880, Lanier P. McLachlen; 1881, Ed
ward j. McQuade; 1882, C. H. Pope;
1888, George o. Vass; 1884, Frederick
P. H. Siddons; 1885, Charles H. Do
ing; 1886, Karl w. Corby; 1897,
Thomas J. Groom: 1898, Hilleary G.
Hoskinson; 1899, Ord Preston.
Bankers Start Vacations.
Howard Moran, vice president of
the American Security g. Trust Co.,
Is on his annual vacation. Robert
L. Flather, assistant secretary, and
Earl G. Jonscher, assistant trust
officer at the same bank. are also
on annual leave. Paul J. Seltzer,
assistant treasurer. who attended the
graduate school of banking at Rut-
gers and spent an additional week
around New York. was back at his
desk today.
B. GWynn Dent, assistant cashier
Of the Riggs National Bank; ].
Byron Brooks, assistant cashier; r.
Earle Haycock, auditor, and Edwin
B. Shaw, assistant trust officer of
the same institution. are passing
their vacations at various resorts.
Irving Zirpel, secretary and as
siStant trust officer of the Union
Trust Co., is taking his annual vaca-
ton, again going to Tall Timbers.
Md.
Brokers Note Summer Lull.
Summer conditions prevailed in
the New York Stock Exchange
boardrooms in the financial district
today. Brokers ascribed the light
trading to the summer lull," which
always slows up business in July.
but more especially to the foreign
situation and political uncertainties
Market observers believe both these
situations will have to clear up some
what before the market will again
get very active.
The foreign situation might change
suddenly and more information on
the home political outlook will come
10 Hgnt In few days, or before
the Democratic Convention opens
In Chicago, brokers pointed out.
Several market news letters today
suggested continued caution, The
opinion was expressed that business
indlces will continue to remain
favorable for the present.
Heard in Financial District.
The Potomac Electric Power Co.
will use a portion of the proposed
issue of $1o,0OO000 first mortgage
3A per cent bonds, due 1914, for
completion of the 500O0- -kilowatt
turbo- generator at Buzzards Point
and for the construction of another
similar generator at the same plant.
Application for approval of the issue
is now before the Public Utilities
CoY,, ic