Evening star., 1945-02-15
1880 Applications
For Phones Untitled
Here al Year End
By EDWARD 6. STONE.

BY EDWARD c. STONE.
There were 1880 untitled appli-
cations for telephones at the end
Of the year. Lloyd B. Wilson, presi-
dent Of the Chesapeake q Potomac
Telephone Co., reported at the an,
nual meeting, continued material
shortages limiting the company 8
growth. The ratio ofs income to
invested capital was sos per cent,
remaining at the low level Of recent
years despite the high volume OF
business.
Large increases in revenues,
brought about by the war, have
been more than Offset by expenses,
particularly taxes and wages. OPP
Grating revenues amounted to $25,-
344.5l7, an increase Of 81 per cent
over 1943. Operating expenses, in
cluding taxes. amounted to $22, $685.
SIS, an increase of "a per cent.
Taxes, which amounted to A,311,-
90l, were approximately one-fifth
Of the total expenses and about 48
per cent greater than interest and
dividends. Since 1941, revenues
have Increased So per cent; ex-
penses, including taxes, II per cent;
taxes, 1877 per cent; wage payments,
SO per cent, while income to in
vested capital has decreased from
$50 to sos per cent.
Changes Cost $1,787, 900.
Although the increase in tele-
phones in 1914 was only 1859 as
compared with 6,445 in 1943, there
were 258,000 telephones connected,
disconnected or moved from one ad-
dress to another, at cost of
s1,787, 900.
Book cost of the property at the
end OF the year was $77,200, ,222, an
increase Of 112 per cent in 10 years
All directors were reelected, in
cluding Philip o. Coffln, William W.
Everett, Robert v. Fleming. John
Clifford Folger, Edwin c. Graham,
Gilbert Gresvenor, H. L. Rust, jr.;;
John Saul and Merle Thorpe, all of
Washington; Fred LAWS, New York,
and Lloyd B. Wilson. president, and
John A. Remon. vice president.
Huge Credit Boom Forecast.
There will be more installment
sales credit after the war than ever
before in history as millions Of new
families learn to use credit" VIII
liam j. Cheyney, vice president, Re-
tail Credit Institute Of America, Inc,
declared at the 10th forum in aid of
small business at the Chamber of
Commerce last night.
Richard H. Stout, president of the
Morris Plan Bankers Association,
said the banks were prepared to
supply ample credit for any postwar
boom, while John Althaus, execu-
tive director, Associated Retail
Credit Men of Washington, discussed
Important Factors in Extending
Credit" An individuals credit
status cannot be judged by his ap-
pearance, the speaker said.
Three Dividends Declared.
Directors of the Lincoln Service
Corp, industrial bankers, have de-
clared the regular quarterly divi-
dends Of 871z cents on the To pre-
ferred stock, 371a on the so pre-
ferred and Is cents a share on the
common stock, all payable March
IL to stockholders Of record Feb
ruary %.
Financial District Comment.
There were 153 new 1944-45 highs
on the New York Stock Exchange
yesterday. Market interest here is
expanding every day judging by the
crowded boardrooms.
Henry Heimann, manager, Ma
tional Association of Credit Men,
strongly indorses the bill before
Congress to establish a taxation
commission. He believes the meas
ure would end tax overlapping.