Evening star., 1942-09-28

- tAteF QAte OF
1894 900 900 of re-
- A - ciprocal inter-
Leo J, Crowley. bank demand
balances.
Total deposits. excluding recipro-
cal interbank demand balances,
amounted to s7l 1852 900 900. higher
by s5.s46 900 600, or per cent, than
deposit including reciprocal bal
anceS reported a year ago. The
growth in deposits reflected chiefly
the purchase of United States Gov
ernment obligations offset in part
by Withdrawals OF currency into cir
cluation.
U. $. Bond Investments Heavy.
Investments in United States
Government obligations and obliga-
tions guaranteed by the Govern
ment increased during the year by
s6,565 900 900. or "a per cent, and
amounted to s25,935 100000 on
June 30.
Loans and discounts amounted to
$40 922 100000. slight increase over
q year ago Total loans showed a
decline of $3.50 100000, or nearly
7 per cent, from last December. The
reduction in loans over the six
month period was chiefly in con-
sumner loans although business loans
also declined. Community Credit
Corn. loans included under agrl-
cultural loans were reduced sub
stantially over the six-month Pc
riod.
Total capital accounts increased
by $l17,000 900 over the year period,
rejecting increases in surplus, u1-
divided profits and reserves, the re-
port stated.
Washington Gas Net Lower.
The report of the Washington
Gas Light Co. for August, filed
with the Public Utilities Comnis-
sion today, shows gross operating
revenues of $3.50 1868 for the month,
compared with $5l480l for August
1941, an increase of $66,067. Oper-
ating expenses Increased s59,OO7 over
last year to total Of s579 ,259 with
resultant small increase in net op-
Grating revenues for the month.
cooperating income decreased
| S13,777 as result of governmental
| restrictions placed upon mercr1an-
disc sales The net result of August
operations was seasonal loss OF
s50,800 compared with loss of $751;
800 for August last year.
Net income for the first eisht
months of this year was $773.o .o33,
compared with $996,882 for the cor
responding period in 1941 The re-
duction of $223,244 is attributable to
much higher taxes, the provision for
which was $149,310 greater this year
than last and to other increased
costs resulting from the war.
The report shows a gain of ap-
proximately IA per cent in the VOL
ume of gas sales for the month, sales
being 848,305 M cubic feet this year
compared with 743,684 M cubic feet
for August 1941. Meters in service
in the District of Columbia increased
1920 over last year to a total of
182,13l.
Gross additions to the company's
property in Washington amounted
to approximately s131 900 in August
and $2,467 600 in the first eight
months of this year.
Bankers at ABA Meeting.
Three Washington bankers are at
tending the special council sessions
OF the American Bankers Association
IN New York, set for today, tomorrow
and Wednesday.
Charles H. Doing, vice president of
the Washington Loan & Trust Co.,
who Is the District Bankers Associa-
tion member of the ABA Executive
Council, is attending the meetings.
Robert V. Fleming, president of
the Riggs National Bank, a former
ABA chief and member of the
ABA Advisory Committee on Special
Activities, also is present
Wilmer j. Weller vice president of
the Hamilton National Bank. mem
Der of the National Defense Loans
Committee, and an officer in the
National Bank Division also Is in
New York, for the discussions of tbe
host Of wartime problems of vital
Hickman in Army Service,
Henry r. Hickman, assistant to
the vice presidents of the American
Security 81 Trust Co., has been COM
mlssioned a captain in the Army CT
the United States and assigned to
duty in the Adjutant Generals Of
! flee.
appointment of James G. john
ston. superintendent of the Endicott,
N. T., factory of International Busi-
ness Machines Corp as general
works manager for all of the COM
panys plants in Endicott. Washing
ton. Rochester and Poughkeepsie,
was announced today.
Today's Trading on Exchange.
Sale of 100 shares of Washington
Gas Light common at 49, led
activity on the Washington Stock
Exchange today The last previous
sale was At Is.
Capital Transit sold at 23sa. ey-
dividend, on a 35-share turnover.
Lanston Monotype registered a 26-
share sale at 23ia and Potomac Elec-
trio Power 5ia per cent preferred
came out at ia.
War Bonds Head Program.
An unusually large attendance of
members of the District Building
and Loan League is expected at the
monthly meeting tomorrow noon at
the Raleigh Hotel, when the drive to
/ get the associations to buy more
War savings bonds for their own ac-
counts, will be the feature of the
program.
New Victory Fund Manager.
Hugh Leach, chairman, Victory
Fund Committee, Fifth Federal Re
serve District, announces that John
Redwood, jr., of Baker, Watts &
Co. Baltimore, has been appointed
manager of the Baltimore Office
which covers Maryland, District OF
| Columbia and % counties in the
| northern part of West Virginia. He
e1Jrreafr pn,nrt Eohk- r,t.1 L.