Evening star., 1942-05-31


Of the American Security 81 Trust
Co., vice chairman, and Lester A.
Lawrence, assistant trust officer of
the National Savings IL Trust Co.,
secretary.
Elected to the Executive Council
to serve with the above officers were
Vincent A. Sheehy, jr., assistant
trust officer, Washington Loan &
Trust Co.; Edwin B. Shaw, assistant
trust officer, Riggs National Bank,
and Mr. Clampitt, retiring chairman.
Mr.. Dooley, the new chairman,
entered banking in 1924 after gradu-
ating from Georgetown University
law school. He received an LII. NJ,
degree from National University and
graduated from the American Insti-
tute OF Banking. He is member
OF the District of Columbia and Vir-
ginia Bar, a past president of Wash
ington Chapter, American Insti-
tute of Banking, and former national
chairman Of the Publicity Commit
tee and past president of the Wash
tngton Life Insurance Trust Coun-
ell.
Mr. Dooley served with the Ameri-
can Expeditionary Forces in France
during the World War and for sew
eral years held the rank of captain
In the Reserve Corps.
Potomac Power Earnings Up.
Net income of the Potomac Elec-
trio Power Co., in April totaled $345,-
290.o1, an increase OF $17,751.40 over
April, l94l, or 5.42 per cent, accord
ing to the monthly statement filed
with the Public Utilities Commits
sion.
Operating revenues jumped $l64,-
3s2 to $3.50 sos, a gain of II per
cent. Operating revenue deduc-
tions moved up $50 ,o2s to 81 ,l64, $50,
or a IA per cent increase.
The detailed report shows operat-
Ing expenses were $94, 900 more than
year ago; depreciation required
Sl24,822, while taxes increased by
$53,284 to $292, 1857, or % per cent
higher than last year.
Net income in the first four
months of the year totaled $1,47O,-
O8l.66, off $50, 1894, or 2 per cent
from last year. Operating revenues
scored II per cent gain, while
deductions for operating expenses
were up 18 per cent.
Taxes totaled $1,256, 100, an in
crease of $373.952 80. or AZ per cent,
the report said.
Loan Leaders Outing Tuesday.
Final arrangements have been
completed for the fourth annual
outing of the District of Columbia
Building and Loan League at Wash
ington Golf and Country Club
Tuesday. According to c. Gay Har-
ren, president OF the Columbia Fed
eral Savings & Loan Association and
golf chairman, over 40 divot dig
gers will compete for prizes. The
senior trophy will be large silver
cup put up for competition by the
District Title and Washington Title
companies.
Besides the golf prizes, a hard
working group led by Chaplin B.
Bauman, president of the Oriental
Building Association. has rounded
up a substantial number Of door
prizes for the benefit OF the 1856
members and guests who don't play
golf, IT'S being expected.
Wilfred H. Blanz, president of
the league. will preside. with Harry
Baker as master Of ceremonies. The
committee chairmen responsible for
the outing are: Martin A. Cook,
general chairman; John G. Kolb,
dinner and refreshments: Chaplin B.
Bauman, prizes; E. J. Carlson, SWIM
ming; G. Clinton James, invited
guests, and c. Gay Harrell, golf.
Railroad Incomes Up Sharply.
Glass I railroads in the southern
district in the first four months OF
this year had an estimated net in
come, after interest and rentals, of
$32 ,800, 900 compared with $21 ,908 900
in the same period last year.
Those same roads in the four
months of 1912 had net railway
operating income. before interest
and rentals of $55, ,161 1853 compared
with $44.2l4,66l in the same period
of 194l.
Glass I railroads in the southern
district for April alone had an es-
timated net income, after interest
and rentals of SIC, 400 900 compared
with $3,574,000 in April. 1941. Net
railway operating income, before
(See BANKS, Page C-eD