Evening star., 1943-10-04
Traction Bonds Lead
In Volume on D. T..
Stock Exchange
BY EDWARD c. STONE.


closes. The turnover in this issu
totaled S65000, the price ending tn
third quarter at 1885,. close to tn
highest quotations of the year ant
yielding 325 per cent.
Washington Gas Light IS, whicl
registered 129 on the last sale. ar,
the highest priced utility bonds il
the list. They stand second ii
sales volume so far in 1943, although
the turnover does not compare with
the Capital Traction bonds. Th,
next bonds, both in activity ane
price. are Georgetown Gas Light SIS
which recently changed hands a
l24, the top price this year ane
yielding 322 per cent.
Anacostia & Potomac R. R. 1st IS
selling at 1862, return the bes
yield in the list, 375 per cent. City
a. Suburban SIS have also beer
strong. selling at lot to yield 81;
per cent. Potomac Electric Power
lst 3i4s, at the strong price of 1092.
return only 295 per cent. Washing
ton Railway & Electric Consolidated
IS are far above par, yielding 2.6;
per cent on the last sale at 1083t.
The volume of trading in l943
compared with the preceding year
has been disappointing. This is due
to the high prices of all the issues
exchange members say. Many
holders refuse to part with their
bonds at any price. which accounts
for lot of untitled orders on thei1
books. brokers commented today.
Potomac Power Net Declines.
Net earnings of the Potomac Elec-
trio Power Co. in August totaled
$285 ,976.67, compared with 1854
O4722 in the same month a year
ago, a decrease Of S68.07055, or 1928
per cent, according to the monthly
statement filed with the Public
Utilities Commission.
The decrease was due to in
creases in operating expenses. Op-
Grating revenues were substantially
higher, a total of sl,934.6498l being
Sl33, ,264S2, or l3 per cent, higher
than in August, 1912.
Operating expenses, however
called for s980,055 2l, up sl86OO5, or
% per cent. Depreciation amounted
to sl35,l00, an increase of $3.50 70
Taxes caused some surprise, the
$372,07180 being Sl2,761 under the
August figure year ago.
The report for the first eight
months of this year showed a net
income of s2,772,362 an increase
OF $252,13l09 Or 10 per cent over
the like 1912 period.
Operating revenues amounted tc
S15,034,045, a gain of $l346 1893 over
last year, up 9.84 per cent. Operat-
ing revenue deductions took away
Sl1.055,186 or S9949 953 more than g
year ago, and 9.89 per cent rise
Operating expenses we're up S891.-
ol2, or IA per cent, depreciation re-
quired s30,962, or 800 per cent more
and taxes were up S72,978, or 9 pei
cent, the report stated.
Bank Crimes Drop Sharply.
Bank crimes and frauds of all
types have dropped to the lowest
levels in more than % years. ac-
cording to the annual report of the
Insurance and Protective Com
mittee of the American Bankers As
sociation.
William B. Gladney, chairman,
states that both the number of
offenses and amounts of losses de-
clined during the year ended AL
gust 81, 1943, to their 22-year low.
only l9 banks in the United States
suffered holdups or robberies, as
compared with 63l of these crimes
OF violence during the year 1882.
Moreover, the report brings out,
the new lows in all classes of bank
crime were attained despite the
fact that greater responsibilities
incident to total war and all of its
impacts on the home 'front.' have
been placed upon the banks since
the Nations entrance into the world
conflict, and in spite of the fact
that there has been a general in
crease in nonbank crime.
The report also points to the
steady improvement in the in
surance coverage of banks.
Bank Joins Reserve System.
The Piedmont Trust Bank, Mar
tinSville, Va, has been admitted to
membership in the Federal Reserve
System, Hugh Leach president of
the Federal Reserve Bank of Rich
mond, announced today.
The Federal Reserve Board re-
ports that combined outstanding
consumer installment loans of COM
merclal banks. industrial banks, and
credit unions was s9140O0,00O at the
end of August. rejecting a decline OF
Sl6,000,00 or 2 per cent during the
month. The decline for the year
ending with August was S455 100000
or 33 per cent.
The volume Of installment loans
made in August was 52,000,OOO, a
slight increase over the preceding
month, the board said.
Bankers Congratulate Reilly.
John A. Reilly, chairman of the
District Third War Loan Drive Com
mlttee, was almost overcome with
congratulations today on the success
of the drive. and the passing by the
District of the S94,00O,0OO quota. Mr.
Reilly did an immense amount OF
campaign work but insists that his
army of statesmen" deserve most OF
the credit The final total will be
considerably over the 94.3000 900 sc
far reported.
Appointment of A. N. Morton, vice
president in charge of production fol-
Mack Manufacturing Corp, as {
member Of the Advisory Committee
for the automotive, farm and trac.
tor liquid-cooled gasoline engine in
duStry has been announced by tht
War Production Board.
j. w Mohler, formerly with the
L. P. Steuart Co., has joined Smith
Transfer q Storage Co. as an assist
ant warehouse superintendent, ane
Maj. Edward H. Conger, retired ma.
rine officer and formerly with thu
Charles Thompkins Construction
Co, has a similar position. Orvill,
j. Garrett, formerly auditor at tn,
Annapolis Hotel, has been mad
public relations manager.
Two Stocks Reach Peaks.
Woodward & Lothrop common
stock registered a 50-share sale OF