Evening star., 1945-09-30

at Dayton, Ohio, Col. Barker was
president Of the Morris Plan Bank
on Military leave. During his ABB
sence the bank has been in charge
of Linwood P. Harrell, executive vice
president. Mr.. Harren Is attending
the annual convention of Morris
Plan Bankers Association at Cleve-
land, Ohio. He probably will retun
to Washington tomorrow.
Selection of a president to sue
ceed Col. Barker at Morris Plan will
be made by the board of directors.
Their next regular meeting is Oc-
tober Is, one Of the directors said
last night. Chairman Of the board
of the Morris Plan Bank here is
Thomas c. Boushall of Richmond,
Va, president of the Norris Plan
Bank of Virginia.
Banks Progress Cited.
Col. Barker, native of Richmond.
is well known In Washington flnan-
cial circles, having been associated
with the Morris Plan Bank here for
20 years. He became its president
in 1885. Under his, leadership the
bank made rapid progress.
Clarence r. Burton, president of
the City Bank, said last night he
was glad to welcome Mt Barker to
the staff, adding, I'VE consider our
selves fortunate to have him with us.
He has demonstrated his ability in
the Washington banking world"
City Bank has assets Of $35, ,000, 600:
is a member of the Federal Reserve
System, and has seven ofIices in the
city. u,
Mr.. Barker, a former newspaper
man with the Associated Press, in
Richmond, is graduate in law from
the University of Richmond, in ae-
counting from Benjamin Franklin
University, and is a graduate of the
American Institute of Banking. He
belongs to the Columbia Country
Club, University Club, Board of
Trade, and National Skeet Club
D. c. Bank Clearings Up.
Washington bank clearings rose 10
$l91 ,232 1868 in September, COM
pared with $169 1906 ,694 in Septem-
Der, 1914, and $185 ,291 1852 in August
this year, according to the Wash.
ington Clearing House.
For the first eight months of this
year the total was $1,7S9, ,727 1888,
compared with 81 ,537 ,233,17 for the
same period of 1914.
Utility Reports Filed.
Three more local utilities-Poto-
mac Electric Power Co., Capital
Transit Co., and the Chesapeake G
p0t0ynor TaIor,hoya ~ ALL A,r,,s&
reports late last week with the Pub
lie Utility Commission.
Net income Of PEPCO showed a
26.30 per cent gain, rising from
s25l ,7as In August, 1914, to $3l7,s4s
in August this year. Net increase
Tor the year to date rose from ST.
537 ,235 In 1914, to $2,589, ,74s in 194S,
an increase of 287 per cent.
Capital Transit registered q deficit
OF Sl01 ,965 IN August this year COM
pared with net income 500 ,631 last
August. Operating revenues were
up this August, but increases in
operating expenses, including $351,.
600 of retroactive wage adjustments;
higher depreciation including ap.
proximately $l72o00 retroactive in.
crease in depreciation accruals or
dered by the PUG were said to be
largely responsible for the August
deficit. Excluding the principal adj
lustments. the company said, net
income for the month would have
been approximately $1l9, 600. Net in.
crease for the first eight months was
up per. cent over 1914, rising from
1923 ,45S to $500, 800.
Telephone Net Improves.
The telephone company reported
net income before interest and-diyi-
dends, at $254, ,316 for August, com.
pared with $250.14 in August. 1874.
Investment in Telephone plant was
SIT ,S22, ,o80. Operating revenues of
the company for August were g..
254, ,262, compared with S2,162,9ol a
year ago. while operating expenses
amounted to $500 ,179, against 81
543. .046 In August, 1874. Net income
for the eight-month period ross
from 81 ,98s GOT in 1914, to $2,o15. 400
IN 1875. There were 1867 ,6o9 tele.
phones In service at the end of Au-
gust, an increase of 2,674 over tAu-
gust, 1914. There were 1924 calls
during the month, a gain OF 1855.
600 over August year ago.
Store Sales Above 1914,
Department store sales in WASH
lngton IN the week ended September
~ were per cent above a wear $50
according to the Federal Reserve
Bank OF Richmond. The gain dur
ing the same period by stores for