Evening star., 1941-10-26

UuSilltSS D'"ee
tions and notes recent sharp ad-
vances along many lines. The util-
tiles companies have all enjoyed eX-
cellent operations of record proper
tions so far this year, he says.
Operating revenues of the Po-
tomac Electric Power Co. increased
more than $l000,000 in the first
eight months of this year over the
same period year ago, a gain of 10
per cent, while net income increased
656 per cent after absorbing a 80
per cent increase in income deduc-
tions.
Other Advances Reported.
For the same comparative period,
the Washington Gas Light Co.,
whose business is more seasonal,
shows active meters in service have
increased from 159,413 to 169.92O,
denoting the growth in the Metro
politan area.
The Capital Transit Co. has ex-
perienced a particularly favorable
period, having transported more
than 144,800000, a gain of 1877 per
cent resulting in 20 per cent gain
IN operating revenues and over 50
per cent in net income over the
first three quarters of last year.
From January to August 81 the
Chesapeake & Potomac Telephone
Co. reported an increase of 25,885
telephones. While net earnings in
creased per cent, toll service rev.
enues were up As per cent, Mr..
Baird stated.
Mr.. Baird cited census figures
showing the growth in population of
the Capital and nearby territory. 1t
Is now estimated, he said, that the
population in this entire trade area
is now around 100000 Citing the
growth in the number of Federal en-
ployes, the committee chairman in
cluded figures showing the striking
growth in the Government pay roll.
Store Sales Mount Steadily.
The report stated that tourist
business was off slightly in August.
after meeting the Greater National
Capital Committees estimates ear
lier in the year. The index of de-
partment stores sales in the Capital
has been climbing steadily Theater
attendance is understood to be run
ming about 100000 weekly, or about 5
per cent above estimates a year ago.
Check clearings for September,
1941, totaled nearly $147,000,O00, a
gain of "a per cent, while bank de-
posits as of September "a exceeded
s477,000 900, against S450.000 900 on
June 80 and 1894 100000 in June,
1910.
Turning to real estate, Chairman
Baird said that apartment vacancies
as Of October l were practically non
existent. being estimated at less than
one-quarter of per cent. Down.
town Office building space is also
non existent and the Government is
considering further decentralization.
New home sales for the first nine
months of 1941 totaled 2,072. gain
OF "a per cent over the same period
last year. A recent survey indicates
that apartment rental rates have in
creased only a nominal amount as
centrasted with the sharp rise in
other living costs, Mr. Baird said,
concluding his report with a forecast
that present upward business trends
will continue in the Capital
Regular Dividends Declared.
Directors of the Potomac Electric
Power Co. have declared the regular
quarterly dividend of $3.50 per share
on the 6 per cent preferred stock.
payable December l to stockholders
of record November IS; also the
usual quarterly dividend on the 5l2
per cent preferred, of s1.37l2 per
share, payable December to share
holders of record November Is.
The regular dividend of $40 per
share on Washington Railway e.
Electric common stock has been de-
clared, payable November % to
stockholders of record November Is.
The regular quarterly dividend OF
$125 per share on Washington Rail-
way & Electric preferred stock will
be paid on December l to stock Of
record November Is.
Directors of the American Fire In
surance Co. have voted an extra
dividend of sl50 per share, payable
November to stockholders of record
October 27. This extra is voted every
year at this time, the regular pay
ment being s6 year.
Prices Firm on Exchange.
Prices were firm on the WASH
ington Stock Exchange yesterday, 50
shares of Capital Transit selling at
1917, SO shares of Riggs National
Bank common at 273. and so shares
of Washington Gas Light common
at 1861.
Mergenthaler, the most active
stock on the list during the week,
closed with 27 bid, % asked and no
sales.
More than 157 members of the
District Building and Loan League
and guests will attend the annual
election and dinner Tuesday night
at the Raleigh Hotel, it was an
nounced yesterday.
Washington merchants are pre-
dieting the best holiday trade on
record Some look for gain OF 20
per cent, other more Similar FORE
casts are being made in New York.
Estimated total new automobile
financing during the first nine
months of 1941 was 81 per cent
above the same period Of 1910 and
50 per cent above the first nine
months of 1887. the Commerce De-
partment reported yesterday.
H:,,:I.l I. n,1a.a1