Evening star., 1941-10-31
1Q41

April -- l4787l745 1850, 1870
NAV ------ 1872, ,l07 ,4O8 11894O, ,256
June ----- 142 .574.129 118379,2 ,253
July ----- l49 1856 123,533 ,492
August --- 14l.22O,535 1O9 6O2 ,295
September - 146967.22l 11O134.234
October 67930.954 1876 619, ,533
ID. {. Store Sales Climb.
ReSuming sharp gains after a
temporary lull, department store
sales IN Washington for the week
ended last Saturday were II per
cent above the corresponding week
a year ago. the Federal Reserve
Bank of Richmond reported today,
In the previous week sales were up
only 6 per cent.
For the week ended October 25,
sales in the Fifth District were y
per cent ahead OF last year, scored
a 10 per cent gain in Baltimore, but
in a group of other cities were of
3 per cent, the report states.
Sales in Washington were only
3 per cent above the previous week
this year, showed a gain Of l8 per
cent in the Fifth District. and AZ
per cent in Baltimore. The other
cities showed a drop of II per cent.
In the four weeks ending october
25. cumulative sales in the Capital
revealed a IA per cent rise over the
like period in 1910, made the same
gain in the whole district and in
Baltimore, While business in the
group of cities revealed a better
ment of 6 per cent, the bank review
said.
Taxes Hit c. & P. Net Hard.
Net income of the Chesapeake &
Potomac Telephone Co. for Septem-
ber amounted to S7205, which was
S1l1.8OO less than the net return
of s119,005 in September, 1910, ac-
cording to the monthly statement
Just filed with the Public Utilities
Commission.
September expenses include the
full nine months increase in Fed
eral taxes imposed Uy the Revenue
Act Of 194l, amounting to Sl13.25O.
If only the September portion OF
such taxes were included, net in
come would have been only S8412
less than in September year ago.
September operating revenues
were s1,343607 against S1104,705 a
year ago, while operating expenses
totaled S1,022,426, as compared with
s781.448 Taxes amounted to
S222.O22
Net income in the first nine
months of this year totaled Sl,207,-
583 against the higher figure of
81 1874 899. Operating revenues were
up 1854 per cent and operating eX-
penses were up 20.54 per cent.
There were 305 .945 telephones in
service at the end Of September,
194l, which is an increase OF 4,78l
telephones over the previous month,
Telephone users made 1851 900
calls during the month, or 7,104,0
more than in September, 1910, the
report concludes.
Morris Plan Program Ready.
Willard G. Barker, president, and
z. G.. Childers. vice president of the
Morris Plan Bank, leave here late
today for Sea Island, Ga, to at
tend the annual convention of the
Morris Plan Bankers Association.
Richard H. Stout, president of
the national association which has
headquarters in Washington; Robert
f. Spooner. assistant secretary, and
Calvin c. Vane, treasurer, will also
be in the advance guard to arrive
for the Monday, Tuesday and
Wednesday sessions.
Prominent among those who will
address the convention are Gov
Ronald Ransom, vice chairman
Federal Reserve System, whose topic
will be Credit Control Dr%John
p. Sly professor of politics and
director of surveys, Princeton Uni
vercity. whose subject will be Mo
tivating Sound Public Policy" L. S.
Gilbert. president Associated Credit
Bureaus Of America; Dr.. J. B. WooS-
ley, economist, University of North
Carolina, on Progressive Effect Of
War on Banking in Countries Al
ready Under Full War Economy"
SChram and Connely in City.
Here to testify before the HOUSE
Interstate Commerce Committee or
the proposed amendments to the Sc.
curities Acts of 1888 and 1884, Emf
Schram, president of the New YorE
Stock Exchange. and Emmett F
COnnely, president Of the Invest
ment Bankers Association, were il
the Capital at the same time yes
terday.
Mr.. Schram and Mr.. Connely IA
vor easing of securities regulation!
in some respects. Mr.. COnnely i
very anxious that many changes b'
made at once to help the freer floV
of private capital into industry aftel
the war.
He says that while the Securitie
and Exchange Commission and thI
investment bankers have agreed OF
many of the proposed amendments
there is disagreement on severa
points of major Importance. He be
lieves that some of the ideas held b.
the S. E. c. would make it impos
Sible to do business at all.
Lincoln Service Corp. per cen
preferred opened trading on tn
Washington Stock Exchange today
with 10 shares selling at 40, off from
the last sale. Capital Transit agail
sold at 1872.
Anacostia & Potomac River modi
fed 334 per cent bonds we're strong
$1,000 moving at 106ls, new 1874
high. The market closed with
small sale of Washington Gas Ligh
preferred at lo4iz.