Evening star. [volume] (Washington, D.C.) 1854-1972, 1943-01-06
BY EDWARD c. STONE.

leVellue pdSSeilgeTS lIldu year ago,
50 per cent increase.
The Chesapeake e. Potomac Tele-
phone Co. reported an increase of
Sill ,495 in net earnings over 1941,
81 ,437,372 comparing with 81 ,425,877
Taxes were $434,215 higher in
1912, requiring $1,842,2 20, while
other operating costs also increased
sharply.
The Washington Gas Light Co
recorded an IL months net income
of $3.50, 1874. against $685., TIA. a de-
crease of SOL $50. Operating ex-
penses, including depreciation and
taxes, were sl.090.36l heavier than
in the previous year and the sale OF
gas appliances was seriously cur
tailed.
The Potomac Electric Power Co
reported net income of $3.526.6 37. off
ESQ per cent or S92650 from l941
Potomac Powers taxes were up
$l228,7 ITO, or a. per cent over re-
quirements in l941, the report re-
veals At the same time other
operating expenses were up 1881 per
cent
Startling Trade Gains Noted.
Sensational gains in department
store sales in leading cities in the
first IL months of this year are re-
vealed in comparisons made by the
Federal Reserve Board with the same
months in 1941. The biggest trade
gain was SIS per cent registered by
Vallejo and Napa, Calf, and the
second best, 40 per cent, by Charles
ton. S. c.
The Washington gain was 20 per
cent. Norfolk, Va. enjoyed 81 per
cent pickup Trade in Fort Smith,
Ark, was So per cent better than
last year, up "a per cent in Kansas
City and 20 per cent in Memphis,
Tenn. Sales in Long Beach, Calf.
were IS per cent ahead OF last year,
were up 80 per cent in Oakland and
Berkeley, IS per cent in San Diego
and SO per cent in Stockton.
In many cities, gains in November
alone were up so per cent or more,
advances running as high as 10 per
cent
Banks Push War Bond Sales.
After passing through a year of
increasing participation in wartime
services, both the II Federal Home
Loan Banks and their member insti-
tutions ended 1912 with strength
ened reserves and in the most liquid
condition in years. James Twohy.
governor of the Federal Home Loan
Bank System. reports.
Lending by member savings and
loan associations dwindled through
out the year because of the stop
page of non-war housing, the total
dropping some % per cent below
figures for the previous IL months,
said Mr.. Twohy.
However, loans to finance the pur-
chase of existing homes in 1912 re-
manned at the high level of 1941-a
total of about 1898 5000 for the
first 10 months, representing a gain
of Al per cent over the corresponding
figure for 1910.
Installment Loans Decline.
The Federal Reserve Board re-
ports that loan balances of COM
mercial banks, small-loan COM
panies, industrial banks and credit
unions declined S per cent in No
vember to $1,167 900, a decline of
1868 900 900 during the year, or 80
per cent.
In the 12-month period ending
with November, loans outstanding
of commercial banks declined A
per cent; credit unions "a per cent;
industrial banking companies % per
cent, and small loans companies 19
per cent, the report states.
Loans totaling S137 900 900 were
made by these cash lender in No
vember, $1O,OOO,0O0 lower than in
October. Repayments on consumer
loans were down IA per cent in No
vember from the preceding month.
Southern Rail Nets Climb.
Glass I railroads in the Southern
district in the first IL months of
1912 had an estimated net income,
after interest and rentals of S127,-
900 900, compared with $66, 480 ,426 in
the same period of 194l.
The roads had a net railway op-
Grating income. before interest and
rentals of $189,135,211, compared
with SIZE, 157,211.
Operating revenues totaled $948,-
703 ,450, an increase of SOL per cent,
compared with the same period in
194l, while operating expenses
totaled $3.50, 500 ,267, an increase of
31.3 per cent.
Glass I railroads in November
alone had an estimated net income,
after interest and rentals of ST.
100000. compared with $5,893,6ll in
November, 1941. Net railway OPP
Grating income amounted to $23,-
089 Az. compared with $40 ,406,561.
Ration Service Aid Ready.
w. L. Hemingway, president OF
the American Bankers Association,
and other officers have pledged to
the President and the Treasury full
support in the handling OF ration
coupons through the banks. These
financiers held another conference
at the Treasury today.
While the OPA has set January a
as the date on which the new bank
ing service will be started, there is
feeling that this date is tentative
Some OPA officials say that the date
may be delayed. further announce
! ment being due in few days. What
ever the date, Washington bankers
will be ready to start the novel
service when the bell rings.
Washington Gas Common Up.
Washington Gas Light common
was strong on the Washington Ex-
change today, so and 10 share lott
changing hands at Is, up " from
the 1912 close. Capital Transit also
was trong, q small lot moving al
261s.
Washington Gas common has beer
quite active on the New York Elk.
change recently, 800 shares sellin,
Yesterday At 15A