Evening star., 1942-07-01

ClearingS in washington IN the
first six months Of 1912 reached
S933,0l1, ,37453 compared with $780,
296.71871 in the first half of 1941,
a surprising gain of Sl02,714,655.82,
This report reveals an unprece-
dented boom on the six months,
the total being far ahead Of any
previous similar period
Clearings in the Capital SO far
In 1912 compare as follows with
the corresponding months in 1871:
E 1912 1941
January Sl66,815 1884 $132, 1877 282
February - 138,252606 1851 ,597
March ---- 158,O90277 136,984,555
April -- 157,760,113 147871, ,745
MAY -- 155,892.074 152107 ,408
June ---- 156.2O0,418 142,574,129
d. c. Store Collections Rise.
Collections in Washington de-
partment stores in May were "a
per cent of the amount due at
the beginning Of the month, the
Federal Reserve Bank of Richmond
reported today. This is higher than
collections have been running, and
reflects the demand by the Federal
Reserve Board that charge accounts
be paid more rapidly.
Outstanding orders for goods at
the end of May were 55 per cent
higher than on the same date in
1941. Orders in the fifth district
were up 62 per cent, in Richmond
SO per cent and in Baltimore 63
per cent.
Stocks of goods on hand in Capt.
tai stores were II per cent higher at
the end of May this year than on
May 81, 1941. Outstanding recelv-
ables were per cent higher than
last year at the end of May, the
report stated.
First Federal Assets Climb.
Carl H. Ellingson, executive man
ager of the First Federal Savings &
Loan Association. reported today
that resources reached an alltime
high at the close of business June
80, totaling S11,350,000, gain of
more than 81 100000 in the last year
In his semi-annual report, Mr..
Ellingson commented on the gain in
assets in the last four years, thl"
figure having more than tripled in
that period.
The influx of war workers to the
Capital has caused steady increase
In the number of new accounts, he
added. Mortgage loans, reserves
and undivided surplus have shown
steady increases, the report sent to
patrons reveals.
The association has a special de-
partment to boom the sale of war
bonds, $293,85 having been sold to
date.
Washington Gas Net Lower.
The monthly report of the Wash
ington Gas Light Co for May filed
with the Public Utilities Commits
sion yesterday shows gross operating
revenues of S76l 1888 compared with
$671 ,902 for May, l94l, an increase OF
S89,486 Operating expenses in
creased $80,953 over last year to a
total of S646713. There was slight
increase in net operating revenues
for the month.
Incorporating income decreased
e1o,103 as q result of Government
restrictions placed upon merchan-
disc sales Income deductions were
$4,658 higher, and the net income
for May was S63,139 compared with
s78,367 last year, decrease Of Sl5,-
22s.
The result of operations for the
first five months of this year was a
net income of S375.9l8 compared
with S1.O60,372 for 1941. The reduc-
ton of Sl84,454 is due to increased
Federal income taxes, the provision
for which was S165,500 greater in
the current year than in 1941, and
to other increased costs resulting
from war conditions.
The monthly report shows a galr
of Is per cent in the volume of ga
sales for the month, the sales being
1,l53.295 this year, compared with
991, 1913 for May, 1941. Meters ir
service in the District increased
10,36s over last year to a total o.
1s0.eS6.
The company expended approx
imately sl57 500 in May and $685. 50l
in the first five months of this veal
for extensions to its property II
Washington.
81st Statement Distributed.
The 8lst annual statement Of tht
Oriental Building Association. as o
June 20, being distributed to patron
today, discloses substantial progres
during the last year.
The report of the treasurer, JOIN
G. Kolb, shows assets Of S7252, 827
the highest figure yet recorded. Ac
counts of members now total S6 484
600. while surplus and reserves hav
climbed to 1865 1923.
Chaplin B. Bauman is president o
Oriental and Ralph A. Xander, sec
retary.
Metropolis Officers Named.
Harry G. Wilson was re-electe
president of the Metropolis Build
ing Association; John Scrivenel
vice president; and Rudolph v
Santelmann, secretary, follOwin
the recent meeting of the share
holders. The Board of Directors fc
the coming year includes the Officer
end the following;
George M. Seibert. William
Simpson, Martin T Wlegand Al
thur Seagren, H, Hazen Wilson
Chalmers F. Croft, Claiming
Walker and John w. Hardell.
Secretary Santelmann reporte
that the past year was one Of tt
best in the associations IS yea,
of operations. Total resources q
close to $1,000 600, while surplus al
reserves are at the high water mai
of S65O,000, he reported.
First Sale in New Gas Stock.
Washington Gas Light new S5 Gun
ulative preferred stock. which W;
listed on the Washington Stoc
Exchange yesterday. sold today
1919, Is shares changing oWnershl
The market closed with 1902 b
and l02 asked.
Washington Gas $3.50 preferrt