Evening star. [volume] (Washington, D.C.) 1854-1972, 1941-01-29

)
Es # the association's
Committee on
D. william Miller ercia |
Trade Activities. He added that the
inflow OF new residents last year
caused sales of new houses to set
a four-year record.
The population of the District of
Columbia, 663,153, outnumbers that
of II of the States, Mr.. Miller con-
tinued The combined population
of the adjacent counties in Mary
land and Virginia increased be-
tween 1880 and 1910 over 60 per
cent. Thus it can be seen what
phenomenal growth has taken place
In the Washington area where the
population is we'll over the million
mark. an increase of 40 per cent
over 1880.
'Mr. Miller cited the figures to
show that this rapid growth in pop
ulation, particularly during the last
year, has meant rising employment
and substantial expansion in Gov
eminent and private pay rolls, in
creased purchasing power, improved
market for retail selling and a
large gain in all lines of business
operations.
Utilities Best Year.
The year just ended was the best
ever experienced in many respects
by the local utilities companies,
said Mr.. Miller. The Potomac
Electric Power Co. hit an all time
high for electrical energy sold dur
ing 1910. an increase of 9 per cent.
The Chesapeake & Potomac Tele-
phone Co. set new high marks for
telephones In service and number of
calls. The Washington Gas Light
Co. served the largest number of
customers in its history and gained
Z per cent in revenues.
The Capital Transit Co. reported
an increase in the number of pass
engers carried, in gross revenues
and net earnings. Sixty-nine cars
and 1T buses were ordered for de-
livery in 1910 and the first two
months of 194l at a total cost of
over s2,200000. An interesting fea-
ture of this expansion program has
been the borrowing from Washing
ton banks since 1897 of 4,807 900 of
which s2,329.156 has been repaid,
leaving S2,477844 outstanding.
New car and gasoline sales in
creased Is per cent over 1889, Mr..
Miller added, and there was sub
stantial uptrend in store sales. with
every indication that this expan-
sion will continue during the coming
year. Tourists contributed in no
small way to the increase in all lines
Of business activity.
$4,000, 900 Paid in Taxes.
The District of Columbia in the
fiscal year ending June 30, 1910,
paid in national revenue taxes, ex-
elusive of pay roll and social security
taxes, over s20,000.0O0, an amount
exceeding that paid by any one of
some 81 States.
OF vital interest to the taxpayers
of the District, Mr. Miller COM
mented, is the rate of increase OF
municipal expenditures and the I'M
fair decrease in the proportion OF
these expenditures borne by the
Federal Government. According to
a recent report, Al per cent Of the
real property in the City OF Wash
ington is tax exempt.
AS of July l. 1910, United States
holdings in Washington amounted
to $668, OIL 457; privately owned
tax-exempt property was valued at
$ll1,794,179, and District owned
property, the smallest of the three.
was valued at s73,732,063. Were the
land and improvements owned by
the Federal Government taxed on
their book value. the District would
receive almost twice the $4,000 600
hump sum contributed last year, Mr..
Miller asserted.
Loan Associations Assets Up.
Total resources of Washington's
building and loan associations
touched an all-time high mark on
December 81, of $157,550,230 and an
increase of s16,O53919 over 1889,
Secretary S. Wilson Camp reported
to the District Building and Loan
League yesterday. This is a gain
of 100000 since November 80
last.
Despite the normal slump in Win
ter building more than $4,000, 900
was put into mortgage loans during
December or s1,11O,000 higher than
In December a year ago. OF this
total nearly s2,800,000 was for con-
struction and new houses.
Martin A. Cook, chairman OF the
annual Banquet Committee, said
the Mayflower Hotel had been
selected as the place. March 8 the
time. Randolph w. Santelmann will
be vice chairman of the committee.
The reports were made at the
monthly luncheon of the league at
the Raleigh Hotel, President William
N. Payne, jr, presiding.
War and Taxes Curb Market.
War and taxes are the factor!
chiefly responsible for the present
low level of stock market activity
William McC Martin, jr., presiden'
of the New York Stock Exchange
said, when in the city today for al
S. E. c. hearing.
In referring to the war factor, Mr.
Martin said the market at present il
discounting the future and, in hi
opinion, is better barometer thar
the higher level of business activit.
brought about by the defense pro-
gram.
The stock exchange president, il
discussing the second factor, sale
faulty taxes, particularly the capita
gains tax, were doing more to de
stroy the market than any othe
single factor
Railroad Earnings Mount.
Net earnings of the Western Mary
land Railway in 1910 were equal t,
S1.15 a share on the common stool
against IA cents a year ago.
The Norfolk g. Western Railwa,
earned S21.66 per share on common
in 1910 against $20.6S in 1899.
The Virginian Railway reports ne
earnings of SAB on common stock il
1910 compared with s4.O6 in 1899.
The Southern Railway report
earnings of 1885 on common in 1874