Evening star., 1944-10-01
pepeo Reports Drop
In Profit for August
And 8 Months
BY EDWARD C. STONE.

while net earnings in the first eight
of this year reached S2,537,.
235, a decline of $235, ,146, or 8.48 per
cent, from the like 1943 period, ac-
cording to the report filed yesterday
with the Public Utalities Commis-
sion
Operating revenues Of $1,498,922
in August, and SIS 5,071 ,924 in the
eight months, officials said, reflect a
credit adjustment of s500,000, repre-
senting an estimated rate reduction
for the six-month period, March l
to August 81, 1914, set aside as a
contingent reserve for repayment to
consumers in the event the court
sustains the order of the Public
Utilities Commission of the District.
Operating revenue deductions Of
S11 ,l39, ,253 in the eight months in
clude adjustment of the Federal ex-
cess profits tax of $340, ,761 At and the
District of Columbia income tax of
SIG, ,448.53 as result of revenue re-
duced in the amount of s415,000,
representing the estimated rate re-
duction for the five-month period,
March through July. Provision for
August is made on the basis of rev.
enue reduced in the mount of s85,-
600, the estimated rate reduction
for the month.
ID. c. Controllers in Chicago.
Washington controllers have an
outstanding delegation in Chicago
for the 18th annual meeting of the
Controllers Institute of America,
which opens a four-day session at
the Stevens Hotel today.
War problems, reconversion, re-
negotiation and taxes will feature
the program, speakers Including Eric
A. Johnston, president, United States
Chamber of Commerce; Beardsley
Ruml. chairman, Federal Reserve
Bank of New York; Alger B. Chap
man, Washington tax attorney, and
John c. Naylor, president, Control
lers' Institute.
The Washington delegation in
cludes F. Charles Brown of the Ma
tlonal Geographic Society, president,
District OF Columbia Control; Harold
G. Hayden, Potomac Electric Power
Co.; Ralph Heitmuller, Acacia Mu-
tual Life Insurance Co.; William r.
Little, The Evening Star Newspaper
Co.; Raymond G. Lochiel, Penn
Central Airlines; Humphrey Lloyd,
Washington Properties, and Otis
Ritenour, Washington Gas Light Co.
Capitol Store Sales Clum.
department store sales in the Cap
ltal Tor the week ended September
25 were per cent ahead of the same
week a year ago, l per cent
ahead OF the previous week this year
ana IN the four-week period ending
on the same date were 9 per cent
better than last year, the Richmond
Reserve Bank announced yesterday.
Average gains for the fifth district
were practically the same as in
Washington.
5. William Miller, third vice presi-
dent of the District Bankers Asso-
clation, resigned this position and
was elected second vice president by
the Council of Administration at the
monthly meeting, President Sidney
r. Iallaferro announced Yesterday.
Inc once of second vice president
mas been vacant since the death of
Stanley D. Willis, on July %. Mr.,
Trust Co.
Rudolph w. SanteImann. secre-
tary of the Metropolis Building AS
socaition and vice president of the
Dlstrlct Building and Loan League,
Yesterday completed Is years service
with the institution. He entered the
hrm's employ on October l, 1919, as
a Junior clerk.
section Plans Busy Program.
Lester A. Lawrence, chairman of
trict Bankers Association and as
slStant trust officer of the National
Savings g. Trust Co., stated yester-
day that very busy program has
oeen arranged and announced the
following committee appointments:
Trust law and legislation-J. pont.ins
EaH National Savings, chairman: j. Yves.
F!encs sy Slsampitt II, % Union Trust; william S.
ordon Hsmton aatioSsi sseiprity ETskins
Lagten. National Savings.
tionai Metropoiitsn " Mildred r. eFs Foy ~ Riss, Ns,
Sayings: William Rea. American Security. Security.
Washington Loan, chairman: FREDERICK l.
Ss,ir SSn,gseh' Jr, Rlggs National; Wilbur c.
Netion,aI Ionion trust; Charlotte A. Ensel,
tional Savings: B. Bruce Frantz. American
security: Max E. Quigley, National Metro
Proeram--Edwin B.. Shaw, Riggs Ma
tional, Chairman; William " simmons.
Liberty National; Douglas R. Smith, Ma,
Ralph W. Howard, Riggs National bs,
oeen selected to edit the legal bulletin. as
Mse sisted by Earl G. Jonscher and Willard q.
In addition to Chairman Lawrence III.
WifIam WEHefIGaT1Ve u Council includes Edwin B. shaw.
and Thomas II. Reynolds
Loan Instructors Announced.
-Four classes for members of the
American Savings and Loan Insti-
tute will be offered this fall, Begin
ming tomorrow afternoon, w. Pres
ton Hunt, president of Washington
chapter, No. 81, announced yester-
day.
Held in the classromms of the
School for Secretaries, third floor
OF the Press Building, the subjects
Will cover savings and loan princi-
pies, real estate law, insurance, saw
lngs and loan accounting, with w
Frank Morrison, Harry j. Kane, ir.:
Z. Nelson Bean and William II
Rippard as instructors.
Railroad Experts to Speak.
r. V. Fletcher of Washington. vice
president of the Association of
American Railroads, and Warren G.
Kendall, also of this city, chairman
OF the car service division of the
AAR, will be the principal speakers
at meeting of the Atlantic States
Shippers Advisory Board at the
Hotel Commodore in New York CITY
on Thursday.
About 8312 per cent of the claims
made under war contracts are being
settled, with 141a per cent of the
items excluded, 1t. Co. Robert G.
Dowie, chief of the Pittsbureh
ordnance district, told Washington
accountants at the September meet
ing. 1t is possible to negotiate set
Elements in 80 days, he said.
Earl Bunting, president of thu
OSulllvan Rubber Co. and CLOSELY
connected with the WPA, addressed
the September meeting of Washing
ton controllers on Scheduling for
Profits"
Tobacco Prices Remain