Evening star. [volume] (Washington, D.C.) 1854-1972, 1949-03-13
Washington Gas Net
Earlier
During January
By Edward G. Stone

Gas Light Co. IN January amount
ed to $298,l29 against $254,483
the same month a year ago, a
increase Of $43, 646, the report file
with the Public Utilities Commits
sion yesterday revealed.
Warmer weather this year re
duced operating revenues by SLIT
1856 to total Of $1,779,135. How
ever. operating expenses of ST.
424.057 were $156,242 lower tina
last year, leaving an increase i
net operating revenues of 500, 10l
The mild weather reduced ga
sales to l9.331.587 therms agains
20,235.963 a year ago. Meters i
service in the District increase
2,164, in the past year to a total G
1892 at the end Of January.
January earnings of the Capita
Transit and Chesapeake & Poto
mac Telephone Co.'S, already flee
showed gains over last year. Pc
tomac Powers net was reduced b
extra heavy expenses.
Reserve Bank Post Filled.
Directors of the Federal ReServ
Bank of Richmond have appointe
Charles w. Williams. head of tn
economics department of the Uni
versity of Louisville, as vice presi
| dent, to succeed E.. A. Kincaif
resigned.
Mr.. Williams has been at Louis
vile 20 years. He took gradual
work in the University of Stock
holm. Sweden. and as a Rhode
Scholar attended Oxford Univer
sity, in England. In addition
teaching, he has been a consult
ant to various industries. He as
sumes his. duties on June is, tn
bank announced.
Capital Sales Down.
Washington department stor
sales for the week ended Marc
S were s per cent below a yea
earlier and of IL per cent fror
the previous week. the Richmon
Reserve Bank reported yesterday
In the four weeks ending on tn
same date, sales here were up
per cent from the like 1948 perioc
In the week Of March 5. sale
in Baltimore were down 81 pc
cent and in the fifth district, l
per cent from last year and 8 pc
cent below the previous 1949 week
Yesterdays report contraste,
with the week ended February &c
when trade in Washington was l
per cent above 1948 and Is pc
cent over the previous week thi
year.
Many Bills Affect Banking.
Many bills Of interest to bank
have been introduced in Congress
recently and are listed for mem
bers Of the American Bankers AS
ISOLATION by D. J. Needham, gen
eral counsel.
A Senate bill would authoriz
home loan banks to use so per cen
Iof their assets to purchase vet
Grams guaranteed or insure,
loans from member institutions
another would abolish the Re
gional Agricultural Credit Corp
while a third would provide TO
disposition of the contents of SAT,
deposit boxes in insolvent nationa
banks by the controller Of the cur
rency or the FDIC in receivershi,
proceedings.
House bill 23l5 would authoriz
the Federal Farm Mortgage Corr
to provide a secondary market TO
CT farm loans under the Service
mems Reimbursement Act. Anothe
would authorize the Federal hous
ing commissioner to insure con
struction advances on single
family dwellings. A new bill woul,
require member banks OF the Fed
eral Reserve System to pay with
out charge United States Treasur,
checks for benefits to veterans.
Other bills relate to conversion
OF Federal savings and loan associ
atoms into mutual savings banks
a Government corporation t,
make expansion loans to privat.
industry and expansion of socia
security. housing. etc.
Tax Broadcast Planned.
Washington Chapter. Nationa
Association Of Cost Accountants
will join with the Bureau of In
ternal Revenue in q tax broadcas
over WWDC at OILS o'clock thi
evening.
The chapter will meet Wednes
day evening at the Lafayett,
Hotel to hear an address by Her,
man c. Heiser, treasurer Of tn,
Crown Can Co., on budgeting
Doren Vest will preside as tech,
nical chairman.
April 81 is the date set for tn,
annual joint sales congress O.
Washington and Baltimore lif,
insurance leaders. the meetins
being in Baltimore this year.
William F. Block, assistant sale!
manager for Remington Rand
Inc. will address a seminar con
Quoted by American Universit,
Chapter, Society for the Advance
ment OF Management, in the De,
partment of Commerce auditorium
at 10 am. Wednesday. He will tel
businessmen how to make profits
Heard in Financial District.
Providing proper flexibility Ii
Government finance Is the reall,
crucial problem in developing al
adequately stabilizing economi,
policy. M. 8. Szymczak, Fedora
Reserve Board governor, said in .
Chicago address.
The next Treasury Savings Bone
drive opens on May Is and Distric
banks again will cooperate in tn,
campaign in an indispensable,
manner, Harry L. Merrick, chair
man of publicity for the Distric
savings bond section, announced
Already nearly 100000, 900 o
these bonds have been bought b,
Washington residents.
The Nations Business for Marcel
contains an interesting article OF
Speculate or Stagnate," b,