Evening star., 1943-11-30
T.. & p. October Net
Shows S35,750 Gain
Over Last Year
By EDWARD C. STONE,

VVCI LQAI | col
BY EDWARD c. STONE.
Total net income of the Chesa-
peake g. Potomac Telephone Co. in
October, before interest and divi-
dends, reached s2s1 ,O52, compared
with S245 ,302 in October, 1912, an in
crease of s35,750, according to the
monthly statement filed with the
Public Utilities Commission today.
Operating revenues totaled 81
10o,910, against $l,910,796 a year ago,
while operating expenses amounted
to $l,437,575, in comparison with
S1,4l9,063 last year. Operating taxes
for the month came to s371, ,e03, a
Jump of $13l $50 over october, 1912
Interest and dividends required
$277.806, against S200,472.
Total net income in the first 10
months of this year amounted, be-
fore dividends and interest. to 81
663,679, against $2,378,512 in the like
1892 period, an increase of $305, ,l67.
Operating revenues were $50 0,887 ,255,
compared with s17,693, ,387, while
operating expenses called for $l4,-
643,626, against $l3,65l $50 a year
ago.
Operating taxes rose to S3,434, ,37O
from Sl,655 ,236 year ago in the
10 months. This was an increase
of S1,779,134 In the same per-od
interest and dividends called for 81
795,247 compared with S2,5oo AS
last year, today's report stated.
There were 355,413 telephones in
service at the end of October, which
was decrease of S5 telephones over
the previous month. Telephone
users made 40,43O,0Oo calls during
the month, or 3,075, 900 fewer than
in October, 1912
Interest Plan Indorsed.
Payment of three and half years
overdue interest on $549 900 District
of Columbia Paper Mills, Inc, first
mortgage 3 per cent bonds today
appeared certain in the near future.
Bondholders are enthusiastically
forwarding approval of the COM
pany's plan to sell real estate valued
at S55,oO0, not needed in the conduct
of the business, and apply the pro-
ceeds on the interest arrears.
G. L. Nicolson, president of the
company. stated today that holders
of $4,000 of the bonds have already
given approval to the proposal.
Holders Of other bonds have eX-
pressed verbal assent and are mail
ing their Endorsements.
Prompt replies already received
and others on the way indicate the
plan will receive almost unanimous
support of the bondholders. The
matter now has to be presented to
the court and legal authority OBJ
tanned for the sale.
The $50 900 will cover interest pay
ments for 1885, 1910 and 1941, the
balance to be applied to interest
coupons due in 1912.
The plant is located at 1855 K
street, Georgetown. The property
in question is desired by the Balti-
AlOlC O. oIlAo 1sdili oe'Ni'
Loan Association Assets Up.
At the beginning of this year
assets of the building and loan
associations making up the United
States Savings and Loan League
were at the highest point on record,
according to the annual report of
Secretary Treasurer H. F. Cellari-
Gus presented at the Chicago con-
venticn today. These associations
started 1912 with total assets Of
$3.50 036.211, q gain of is per cent
over 1912.
At the close of 1912. he said, the
District Of Columbia had % building
and loan associations, with l68,542
members, a gain Of 956 over l941.
Assets totaled s190,975 $50. an in
crease of S7,961844.
Maryland reported 375 State and
33 Federal associations, total OF
4O8. The State associations had
143.O21 members, a gain Of 6,637;
total assets of STAT ,826,470 up S.
399,470
Virginia had Is associations, with
62,852 members, gain of 245: total
assets, S66 1854 ass, up S1,989,275.
He noted increasing infiationary
trend, more money in the hands of
people, greater ability to save, less
need to borrow, and a greater desire
to own real estate as a hedge against
the decreasing value of the dollar"
Trade Booms in South.
Department store sales in leading
cities in the United States, compared
by the Federal Reserve Board, for
the first ten months of 1943, regis
tered some surprising gains in the
Atlanta district. Sales in Jackson
vile were up AZ per cent; Tampa,
AZ; Atlanta, "a; Macon, 80, and
Nashville, 36.
Oklahoma City again led the Ma
ton with 49 per cent upturn over
last year Trade in Dallas was up
IS per cent and in Fort Worth. 43.
Any number of cities with extra
wartime activities reported advances
in sales of more than 80 per cent.
The largest gain in the fifth dis
trict was in Greenville, S. c., 81 per
cent.
Transit's Record Impressive.
Stockholders of the Capital Tran
sit Co. today were receiving report
on the progress of the Capital Tran
sit Co. in the last 10 years, the 10th
anniversary being tomorrow.
President E D. Merrill pictured
decade of remarkable progress.
Traffic is four and one-half times
greater than in 1888, has more than
doubled since 1910. The company
has spent s6,T86, ,S29 for new cars and
has purchased 1,0l2 buses, costing
$9.9O7, ,437.
The number of passengers handled
has been sensational. About $685.
100000 will be carried on streetcars
this year and 2O4,00O 900 on buses,
against 100000 900 and Is 900, ,O0O re-
spectively, in 1888.
Employees have increased from
2601 to 5,055, the payroll from
$2,7s9,000 to s12 10000.
Trading on ID: C. Exchange.