Evening star. [volume] (Washington, D.C.) 1854-1972, 1950-01-27
Phones in Service SET
Record Here as Calls
Show December Gain
BY Edward c. Stone

Both the number of telephones
in service in Washington in De-
cember and average daily calls
showed substantial gains over the
same month a year ago, Chesa-
peake & Potomac Telephone off,
Gals reported today
Telephone stations disclosed a
1900 upturn in December over
December, 1948, and an increase
of 1904 over November, 1949.
The year-end upswing set another
new all-time record for the num-
Der of phones in service here.
Average calls per day NUM-
bered 2,309,448 in December as
compared with 2.21o,271 in the
like period in 1948, an increase
of ss,177 calls per day, officials
said.
Both station and call reports
reflect the year end general bust
ness expansion which was indi-
Gated by bank clearings, retail
trade, postal receipts. automobile
sales and other leading barom-
eters.
Stock Yields Remain High.
Three Washington stocks are in
the New York Stock Exchange list
which shows an average yield of 7
per cent for 1949.
Washington Gas common, which
has paid a dividend every year
since 1852, selling around Is,
yielded 6 per cent.
Peoples Drug Stores common,
In the dividend column since 1927,
ended the year at 351s to yield
ST per cent.
Potomac Electric Power COM
mon, which has paid a dividend
regularly since 1904, selling at
15hs, returned 6 per cent.
Virginia Electric g. Power COM
mon, paying dividends since 1925,
returned 81 per cent on sales at
1924. While this is a Virginia
stock it is very popular on the
Washington Stock Exchange.
Hamilton Has Record Year.
The Hamilton National earned
$3.50 per share in 1949 against
S4.91 in the previous year, Will
mer j. Waller, president, says in
his annual report. The year pro-
duced a new record from bank
operations, $774,178 comparing
with $742,459 in the record year
1913. Total profits from all
sources reached $845,516 against
$753,288 in 1948.
The banks stock now has a
book value, of $6103. Loans were
highly satisfactory, but not quite
up to 1948, the total being $32.-
343,692. Year-end deposits of
SGT, 432,744 were $7,199.6 81 ahead
of the close of 1948. Mr.. Waller
reported that Christmas Savings
Clubs are now being operated in
two branches and will start in
the other Offices next year. The
banks victory in the tax case will
mean a considerable saving.
Garfinckel Hits New High.
Garf1nckel common stock sold
at Is on the Washington Stock
Exchange yesterday. a new high
for 1850 and also 1949. This was
before the public announcement
that the store has purchased con-
troll of the A. De Pima Co., Fifth
avenue G'ew York; speciality shop.
The high last year was 17A.
Bruce E. Miller has been ap-
pointed manager of Washington
area advertising for the Hudson
Motor Car Co., George R. Brow
der, director, announced today.
He joins Hudson from the Pack
ard Motor Car Co., his last as
signment being in the Boston
zone. He was formerly with the
Libby Owens Ford Glass Co., in
Toledo.
The Christmas savings club
started by the Columbia Federal
Savings & Loan Association for
the first time in 1949 proved very
popular. the annual report reveals.
A total of 6,511 members depos-
tied s474,160. At the same time
regular share accounts increased
by $552,483 to a new high, ex-
ceeding $4,000, 900. New accounts
also set record.
Transit Stock Active.
Capital Transit stock has
recently displayed much more &C
tivity on the Washington Ex-
change, appearing on the board
nearly every day. Most of the
recent sales have been around 81.
The stock opened 1850 at 1912.
Twenty-one Senators and
nearly sc Representatives plan to
attend the Association of New
York Stock Exchange Firms din
ner at the Shoreham on Tuesday,
February 7.
Washington Chapter, American
Institute of Banking, will hold the
And annual banquet at the May
flower on February 10, about l 900
members and guests being ex-
pected.
Joseph Wiener of Lyman Wiener
81 Sons, Inc, has been nominated
for. second term as vice presi-
dent of the National Association
Of Waste Material Dealers, Inc.
During 1949 American Overseas
Airlines carried more passengers
than at any time in its history
and transported a record break
ing volume of air cargo, Harold R.
Harris, vice president and general
manager, announced.
Displaying exceptional interest
in finance, more than $4,000 wom-
en- attended the series of lectures
on investing presented in so
cities last year by Merrill Lynch,
Pierce, Fenner g. Bean. Women
now own more shares than men
in United States Steel, General
Motors, American Telephone and
hundreds of other corporations.