Evening star. [volume] (Washington, D.C.) 1854-1972, 1943-07-25
N,497 Telephones
Added in Capital
In Last Year
BY EDWARD C. STONE.


Rejecting continued business ex-
pansion in the Capital, telephone
stations in service in June climbed
to 1866, 0l0, In comparison with 344,513
in June year ago. disclosing gain
OF 20,497 new telephones in the past
IL months. and establishing another
all-time installation record, Chesa-
peake & Potomac Telephone Co. Of
flcials have just announced.
AS there were 359,832 telephones
In use at the Beginning of this year,
5.l78 telephones have been added to
the service in the past six months.
The report also shows an increase of
46l telephones over the total at
the end of May. Every month this
year, as we'll as for a much longer
period, has seen the number of tele-
phones in service set new mark.
Averaging originating calls per day
IN June numbered 1,528,174, COM
parade with ,544, 191 in June, 1912, a
slight decrease, the report showed.
The growth in stations is in line
with gains in bank clearings, depart
ment store sales, postal receipts, gas
and electricity sales in the half year.
Common Dividends Hold Up.
Dividends paid on 1886 common
stocks on the New York Stock Ex-
change were three-tenths of / per
cent larger in the first half of
1913 than in the like 1912 period
the Exchange magazine announces.
IaKen by groups there were some
substantial increases.
AVIATION stocks paid $10.l84 600
against $5,131 900 year ago. q %
per cent increase, while the rubber
group paid out 10 per cent more
money In dividends than last year.
Inc railroads increased their stride,
with a 81 per cent rise. Amuse-
ment shares, office equipment, Ship
building paid good deal more in
dividends than a year ago. The
movie industry distributed more div
ldends in six months than in all of
1912
Street, tobacco, building, garment.
paper and publishing, and some
public utilities were among groups
paying lower returns than last wear.
OF 598 individual companies. Ill in
creased. al lowered and 36l dis
bGrsed the same amounts as year
ago.
SEC Approval Awaited.
Washington investment dealers
are awaiting approval by the SEC
of the sale of 27,50O shares of Wood
ward e. Lothrop common stock
which is expected to be offered the
public within the next 10 days.
The 27,500 shares are to be sold
for the account of Brainard w.
Parker and the Washington Loan &
Trust Co. The transaction repre-
sents no new financing on the part
of the department store firm
Based on the number of advance
inquiries. it was predicted yesterday
by investment dealers that the stock
will be substantially oversubscribed
Listed on the Washington Stock Ex-
change for many years, the last sale
was made at $34 share.
Insurance Bureau Expands.
Washington members received word
yesterday that the Life Insurance
Research Bureau at Hartford has &C
cepted the membership application
of the Canadian branch of the Pru-
dental Assurance Co. of London.
one of the great companies of the
world, with $4,3l3 100000 insurance
in force.
This brings the bureau member
ship to f3l, of which 102 companies
are domiciled in this country, 10 in
Canada and 10 associates in Argen-
tina. Brazil, India, Mexico and
Sweden.
Baking Earnings Show Gains.
Continental Baking Co.. in which
there is large Washington interest,
reports for the 26 weeks ended June
Is earnings of 81 cents a share on the
common stock, against 81 cents a
year ago. In similar period Wald
Baking earned 1922 on the pre-
ferred, compared with 81 SO last year.
Department store sales in the
Fifth Reserve District from January
l through July II were IA per cent
ahead of last year, the Reserve Board
reports.
Under the Soldiers and Sailors
Civil Relief Act very few delin-
quences on unpaid matured loans
have developed, the American Bank
ers Association reports.
Chesapeake & Ohio was among
rail stocks making a new 1943 high
mark during the last week.