Evening star., 1942-05-19
D. {. Telephones Set
New High Marks
During April
Both Stations, Calls
Highest in History
Company Reports
By EDWARD c. STONE.

g. Potomac Telephone co. IN April,
in the number of stations in serv-
ice and the average number of
calls per day, it was learned from
company officials today.
The number of telephone sta
tions in service at the end of April
reached 342,007, as compared with
288,919 in April year ago. This
was a gain of 4,294 over the March
total this year, when phones in
service numbered 337,713.
The average number of calls per
day ran up to the surprising figure
of 16O6,424, compared with average
daily calls in the same month in
1941, 1865 ,526, and average calls of
1.6O6, $3.50 in the previous month this
year.
Both new high marks are ascribed
by officials to war conditions in the
Capital, which have brought a
rush of business never before eX-
perienced..
So far this year every month has
seen both the number of phones
in use and average daily calls enter
new high levels.
Garfinckel Dividends Voted.
Directors of Julius Garfnckel &
Co., Inc, yesterday declared the
regular quarterly dividend Of 3712
cents a share on the company's per-
ferred stock, payable June 30 to
stockholders of record June Is, and
the regular quarterly dividend of
1712 cents share on the company's
common stock, payable June 80, to
stockholders of record June Is.
Both these issues are listed on the
Washington Stock Exchange. The
last sale in the preferred was regis
tered at % while the common sold
at 9, the high for the year being 9A.
Junior Gas Claims Opposed.
Objections have been filed by the
General Protective Committee for
the Associated Gas & Electric Co.
to claims made by holders of Junior
securities" which represent Sc diff
ferent classes and total over $685.
100000.
The Protective Committee, of
which Edward F. Colladay of this
CITY is member, is acting for
holders of about $50 100000 of the
senior obligations. The papers were
filed in New York and hearings on
the claims and objections are eX-
pected to be referred to special
master.
A substantial number of these
securities were distributed in the
Washington area and the reor-
ganization proceedings are being
followed closely.
Fifth District Building Off.
Building operation in fifth Fed
eral Reserve district cities continued
to compare unfavorably with
year ago in April. The April total
was s11,O37,893, against s13,lo5,339
in 194l.
The safe deposit section of the
District Bankers Association Will
hold a dinner meeting tomorrow
evening at the Admiral Club. The
program will feature two moving
pictures, Defense and the Tele-
phone" and Fighting the Fire
Bomb" Guy Cowl, section chair
man, will preside.
Department store collections dur
ing March this year amounted to
21.7 per cent of outstanding &C
counts at the beginning OF the
month, the Commerce Department
reports. This is the highest IN
stallment collection ratio dlScioseo
for anv one month in over 10 years.
Shortening of installment contracts
and larger down-payments account
for this record.
Exchange Seat Brought $3.50.
In October, 1861, the treasurer OF
the New York Stock Exchange,
James w. Bleecker, died and his
right to occupy a chair in a deslr-
ahle place was put up at auction
for charity. It sold for $3.50. The
exchange decided that a member
right to occupy certain seat con-
tinued for life. A desirable seat at
the call board was subsequently
sold for $1,000.
A railroad, an insurance company
and a bank hold the distinction OF
being the longest consecutive owl
dend PAYERS whose common STOCK
is listed on the New York Stock Ex-
change. The Pennsylvania R. X.
started dividends in 1848, the Con-
tinental Insurance Co. of New YORK
and the Corn Exchange Bank q
Trust Co. in 1854.
The average age of New YORK
Stock Exchange members Is 40
wears, with one of every three mem
hers being between 40 and 40. There
are four members in the 2l-24 age
group and four in the 8O-88 group.
The l5Oth anniversary of the eX-
change recalls that the first ticKerS
were installed in 1867, first tele-
phones in 1873, first 1,000,000-share
dav was in December 1886, and the
first 5000 .OO0-share day in 1911.
Blanz on War Committee.
Wilfred H. Blanz, secretary of the
Amer!can Building Association,
Washington. had word today from
Fermor S. Cannon, president of the
United States Savings and Loan
League, of his appointment to the
leagues newly created Committee
on War Policies and Activities. The
directors created the new commit
tee. to be composed of representa-
tives of 81 States, to cope with the
challenge of total war to the saw
ings and loan business.
The first meeting Of the commit
tee will be held in Chicago May
2O-21 to consider immediate con-
tributions which the business can
make to the Nations victory drive,
both in expanding the sale OF War
savings bonds and their activity in
financing housing in war industrial
areas and in adding new patu2tic
services.
Today's Trading on Exchange.
Washington Gas Light $3.50 pre-
ferred stock sold at 80 on the Wash
lngton Stock Exchange today, OIL
2 points. Capital Transit again
moved at 20, while National Union
Fire Insurance Co. stock appeared
t,sr