Evening star., 1941-11-03
D. {. Utility Concerns
Make Fine Records
In Nine Months
Net Incomes Favorable
In Spite Of Larger
Tax Requirements
By EDWARD c. STONE.

S7~
: BY EDWARD c. STONE.
IN view of tax increases and fund
/ required for expansion OF services
earnings of Washington four biz
utility corporations were generally
satisfactory in the first nine months
of this year, according to report!
/ filed with the Public Utilities Com
mission. Two reported larger me-
earnings than year ago and tint
others lower returns.
The Potomac Electric Power Co
reported a total net income c.
S2,936,67961 in the nine months
against 81 ,876,95897 in the like 194(
period, an increase of S59, IA, OF
208 per cent. Taxes were S4l5, ,47(
higher than last year, or 2248 pei
scent, but other operating expense:
and depreciation were also much
heavier
The Capital Transit Co. enjoyed
"a net income of 1857 .855 98 against
1864 .30994 a year ago, sharp up
Eswing of S293, ,54604. or 50 per cent
ain the nine months the company
chad TO provide for an increase ir
stakes Of S396.34188, or 469 per cent
pOther expenses were up only 49,
.per cent and depreciation but LIE
4per cent.
The Washington Gas Light Co
had a substantial net income OF
S939,335 during the nine months
against S963,851 in the 1910 period
small decrease of S24,516. The
report showed an increase of S170.-
900 in taxes. Other advances ir
separating expenses were also noted
The Chesapeake & Potomac Tele-
phone Co. recorded a net income OF
sl.207583. as compared with 1884
500 a year ago. a decrease of SLIT,
3l5. Operating taxes required S101.-
568 more than year ago, while
other operating expenses likewise
worked higher.
Folger to Lead I. B. A. Forum.
j. Clifford Folger of Folger. Nolan
& Co.. will conduct forum session
at the 1941 convention of the In
vestment Bankers Association at
Hollywood. Fla, November 80 to
December 5. it was announced today
Developing new business and i'm
proving operating technique will be
featured in this part of the pro-
gram. which will relate largely to
internal problems of investment
banking.
Speaker Rayburn OF the House of
Representatives and William Green
president of the American Fedora
ton of Labor. will appear on the
program, the convention being con-
sidered the most important in 80
years because of present conditions
In the investment field.
The problem of encouraging the
flow of private savings into enter
prise during the current national
emergency and in the postwar
readjustment period, will be the
theme of the program.
Mr.. Folger is slated for election
as one of the national vice presi-
dents, an honor coming to the WASH
tngton members for the first time.
Norris to Address Shippers.
The 34th annual meeting of the
National Industrial Traffic League, a
Nationwide shippers organization
will be held at the Palmer House,
Chicago, November 1914, with a
meeting of the Executive Commit
tee on the two preceding days.
Ernest E. Norris, president of the
Southern Railway System, will be
the guest speaker at the league S
annual luncheon November 13. His
subject will be Our Railroads-To-
day and Tomorrow" Leading rail-
road and industrial executives and
prominent industrial traffic men
from all sections of the country will
be present at this affair.
Months Mortgages Total 1881.
Home financing in the District Of
Columbia during September by all
types of mortgage lenders amounted
to S6,358000, with total of 1881
mortgages on homes being record
ed, economists of the Federal Home
Loan Bank Board announced today.
BY types of lenders. the number
and amount of home mortgages re-
corded during September were as
follows: Building and loan associa-
tions, $40, 50 5000; insurance COM
panies, 80, SCOT ,0O0 banks and trust
companies, 85, S538,O00; individuals,
428, S1,307,000; others, 1873, $3.50, ,O00
Home financing in Maryland dur
Ing September by all types of mort
gage lenders amounted to S7,387 900
with a total of 1882 mortgages on
homes being recorded.
Heard in Financial District.
Robert C. Jones & Co., investment
bankers. have announced to their
clients that Capt. Clinton Braine
U. S. N, will be the guest speaker
on their radio program at 8 pm
Station VOL, tomorrow evening
Capt. Braine was member of the
military mission which recently re-
turned from Moscow and will relate
his views and interesting ex-
periences while in Russia.
The semi-monthly meeting of the
executive council of the District OF
Columbia Building and Loan League
will take place at the Raleigh Hotel
tomorrow at 1890 pm. Wilfred H
Blanz, recently elected president OF
the league, will act as chairman for
the first time
Sales by 1924 wholesale firms in
September gained A per cent over
the same month a year ago, the
Commerce Department has an.
nounced, the best gain in six years
or since the figures have been com.
piled
AS the New York Stock Exchange
will be closed tomorrow for election
day, Washington Offices will b.
closed, except in cases where small
forces are maintained to handle tn
Chicago Grain Market business.
John A. Reilly, president of tn
Second National Bank, observed
birthday anniversary Saturday, re
ceiving many congratulations from
associates.
Today's Trading on Exchange.
The weeks trading on the Wash
4