Evening star., 1947-07-13
Electricity Sales Jump.

June sales of electricity in the
District of Columbia totaled 128,-
608,661 kilowatt hours, a sharp in
creased over June, 1916 of IS, ,409, ,267
XVIII. or 24.62 per cent, Potomac
Electric Power Co. onicials reported
yesterday.
Sales outside Of the District
amounted to 81 ,232. .o01 XVIII, an in
crease of 11.89 per cent over last
year. Total sales for the month
reached 14s,s40,662 XVIII, up H.
e65,317 or 2264 per cent, officials
said.
d. C. Bank Boosts Surplus.
Directors Of the Security Savings
& Commercial Bank have voted tc
transfer 100000 from undivided
profits to surplus, increasing this
account to $750, 900, Francis G. Addi-
son.. r., president, announced yes.
terday., This action gives, the bank
an equal amount of capital and
surplus. -
Bethesda will have q second bank
tomorrow when the Suburban Ma.
tional opens q branch in temporary
quarters at 7444 Wisconsin avenue
in charge Of Joseph T. Howard who
has been manager OF the banks
Takoma Park ofnce and has been In
banking 23 years.
Department store sales in the
Capital for the week ended Satur-
day, July 5, were 4 per cent below
the like week year ago, the Rich
mond Reserve Bank reported. Sales
in the Fifth District were of S pei
cent, against an average gain of {
per cent in the whole country.
Washington sales were rs pei
cent below the preceding week this
year, same as in the Fifth District
Cumulative sales in the four weeks
ended on July we're unchanged
from last year but were up 2 per
cent in the whole District, the re-
port said.
Accountants Aid Relief.
Washington Chapter, National AS
sociation of Cost Accountants, has
received word that 10 packages sent
to French Foreign Relief were re-
ceived and greatly appreciated. An
nouncement was made by w. H
Dame, Chapter president.
At . meeting at the Hamilton
Hotel, program chairman Max w
Shoup stated that the years pro-
grams will be devoted to cost ac-
counting in selected industries In
the Washington area. Washington
Chapter now has nearly 300 men,
bers representing almost every in
dustry and Government department
in the city.
Potomac Electric Power new SIC
par common stock is now being
quoted for the first time among
over the counter stocks, on a when
issued" basis. It was quoted yester-
day at 1914 bid and 18 asked Is
suance of the stock Is awaiting SEC
approval.
The First Federal Savings & Loan
Association has just distributed Its
June 30 condition statement, show
ing that assets have been more than
doubled in the past four years, now
totaling $27,532,843. Investment ac-
counts for the first half year in
creased by $1,611, ,769. During the
same period, mortgage loans showed
an increase amounting to $793, 1859.
- Financial District Comment.
Washington brokers are much
pleased that the New York Stock
Exchange Saturday closing argu-
ment has been settled. Beginning
October 4, the exchange will be open
every Saturday until next summer
Preston Delano, Controller of the
Currency, advised Congress that his
office should continue supervision
of unconditional banks in the Dis
trict Of Columbia independent OF
decisions reached on the question OF
home rule" Establishment of q
bank supervisory agency under an
autonomous District Government
would require organizing a staff to
accomplish what the Controllers
ofilce "does with its left hand"