Evening star., 1941-08-05
Real Estate Bonds
Show Steady Rise
In Seven Months
D. 6. Issues in List
Goinine 7.8 Per Cent,
Review DiscIoses
Ry EDWARD C STONE.


alone gained IL per cent. according
to the Amott-Baker price review
just received here. For 13 consecu-
tive months. the report says. bonds
have shown an uninterrupted
month month rise.
In the seven months, issues Sc
cured by properties in various un-
classified Eastern cities advanced
SO per cent, followed by New York
City issues up 90 per cent and
Philadelphia issues up 6.9 per cent.
Boston issues alone, although they
advanced fractionally in July, are
off from the close of last year
by 0.2ee. However, Boston issues
have the highest average price OF
S452 per $1,000.
The average is broken down by
type of property securing the va
rious issues. This classification
shows all divisions now ahead of
December 81, 1910, prices. Hotels
lead in the advance with a per-
centage of 1910 helped largely by
sharp advances in quotations for
Washington Mayf1oWer and the
Hotel Syracuse Apartment hotels
are up l1,3fo and office buildings are
up 8.99s thus far in 194l.
The average price of a $1,000 real
estate bond based upon the 200 is
sues used in this survey, is now 1903
as compared to 1921 on December
81, 1910. and S298 on May 81, 194l,
the survey concludes.
Utility Net Earnings Mount.
Washington four important util-
fly corporations made an excellent
showing in the first half of this
year, according to reports filed with
the Public Utilities Commission.
Three disclosed better net earnings
than a year ago while the other re-
vealed nearly as large a net income
in the face of extra heavy expenses.
The Capital Transit Co. reported
a net income in the six months of
s645, ,44l.O6 against 1898 ,266.2o in the
like period year ago. an increase
of s252,17436 or Gal per cent. This
record gain was largely due to an
increase of 16.o56,66O in revenue
passengers in the half year, bring
ing the total to LOT. .527.24l.
The Potomac Electric Power Co.
reported the half years net earnings
as s2,182,576, an increase of s105,7 ,789
from the first half years net in
come of s2,076,787 in l94l. This
was a gain of 500 per cent.
Washington Gas Light Co. regis
tered net income of Sl036,584,
compared with S1,074,426 in the
first half of 1910, or a small decrease
of S37.842 The slight drop was due
to extra heavy operating expenses. |
The Chesapeake g. Potomac Tele-
phone Co. listed an income of ST.
DOT ,046 against a net in the cor
six months last year of
s966.907. an increase OF s40,139.
Further Expansion Planned
President E. L. Shea. of the North
American Co. announces further
expansion for the Potomac Electric
Power Company's Buzzard Point
plant, in his quarterly letter to
stockholders received here today. He
says:
Washington area: Potomac Elec-
trio Power Company recently eX-
panded its construction program by
ordering another $4,000 kilowatt
turbo-generator for its Buzzard
Point plant A new addition to this
plant was completed last October
when a $4,000 kilowatt unit was
placed in operation. A second unit
of the same capacity is now under
construction and is expected to be
on the line next March. The third |
$4,000 kiloWatt unit, just ordered, |
is scheduled to be shipped in Decem-
Der, 1912 and in operation early in
the following year"
Insurance Directors Named.
Stockholders of the Potomac In
surance Co. of the District of Co.
lumbia, at the 111th annual meet
ing, elected these directors:
Arthur Burston, John H. Grady, !
Charles E. Hood, C. F. jacobsen, |
Thomas c. Moore, Daniel Mungall, |
F. Norie-Miller S. Norie- Miller. C. !
F. r. Ogllby. Alexander K. Phillips |
and Frederick Richardson.
The company which was organ /
led in 1881, is now operating in 81 .
States, Hawaii, Cuba and Puerto .
Rico. has assets amounting to
nearly s6OOO.OOO. capital totaling
s. 100000 and s1.858,918 surplus.
Seventeen Washington building
and loan associations are now selling
Defense bonds to their customers, |
?. Wilson Camp. secretary of the
District Building and Loan League
reported today. The associations
report q substantial demand for |
the bonds, which they have been |
handling ever since the present |
drive started.
William N. Payne. jr., president |
If the league, has appointed Edward |
c. Baltz, secretary of the Perpetual:
:. Clinton James of Columbia
Permanent, and Carl J. Bergmann
president of Washington Perma-
nent, as a committee to work with |
the Treasury in furnishing patrons |
all possible information about the |
bonds.
Libby Stock Offered Here.
Washington investment firms were |
today shares of the COM
mon stock of Libby, McNeill & Libby |
at s55s per share. underwriters hav-
ing placed 100000 shares on the |
market. The stock is being pur-
chased by very large syndicate |
from Swift 65 Co. which is divesting |
Itself of all Libby securities. This |
noon dealers reported a good de-
lnand for the stock.
William H. Dyer, assistant secre-
tary of the Perpetual Building As
soclation, Is enjoying a two weeks
vacation at Ocean City, Md Other
and loan men away at this
time include Chaplin B. Bauman,
Oriental Building president, now at |
Bethany Beach, Del; William |
Jameson of the same association, |
how in Maine, and Scott Birdsong, |
Washington Permanent, who is
taking an extended motor trip.
Lively Day on ID. c. Exchange.
HI -lr