The Washington times., 1913-02-01
POTOMAC ELECTRIC
POWER COMP PANY'S
REPORT SUBMITTED
Increased Earnings and Surplus
Shown and Value of Proper
ty Advanced S1,5Oo,OO0.

The report of the Potomac Electric
Power TO Congress was presented to
the House of Representatives today, as
We're the separate reports of the other
subsidiaries of the Washington Railway
and Electric Company.
The electric company's report when
compared to that of last year. shows a
good increase both in gross and sur
Plus. The gross revenues of the COM
psny are set forth as sl,S2s. .25S-f9. This
Is an increase over last year of Sl59,-
G13.10. Operating expenses were $685.
Sl5H, an increase of $s7, ,l12.57. The sur
plus, before payment Of dividends, was
Se1, 1854, an increase over last year of
45.0e2 81
The value of the property is set down
this year as $1,000, 900 an advance of
s1.5oo,000. though it is set forth that
from the sale of bonds the sum of s534.-
046-51 was paid out in betterments, with
nothing paid out from earnings.
The paid-up capital stock this year
is set down as $500. 600 though an in
crease, not referred to in the report, of
$4,000 to. $lo,09,0oo was authorized by
the stockholders in 1872 The Washing
ton Railway owns all the stock.
Washington Gas stock and Washing
ton Railway 4 per cent bonds were the
only features of today's trading on the
washington Stock Exchange. Nine lots
of the Gas stock were traded, and the
price SONdIlCeu 10 Il mere were lb
shares in ALL Eleven thousand of the
railway bonds sold at s41s.
The Continental Trust Company is
celebrating today its first anniversary.
On February /, 1872 the deposits were
The surplus and undivided profits
amount to S15o,s62.74 Charles w. ward
en-. first vice president of the company.
said today that the growth of the insti-
HrwrN T..
able surprise to the officers themselves,
and that they are very optimistic Of the
future.
The board of governors of the Invest
ment Bankers Association of America
are holding meeting In Baltimore, and
discussing Blue Sky" legislation ].
Selwin TAFT. president Of the Washing
ton and Southern Bank, is Washington's
representative in the organization.
Those present at the meeting are:
President George B. Caldwell (Conti-
mental and Commercial Trust and Saw
lngs Bank. Chicago; vice presidents,
William r. Compton CWflliam R. Comp
ton Company. st. Louis; Lewis B.
Franklin tGuaranty Trust Company.
New, York city: A. B. Leach "a. B.
Leach & Col. New York city; Warren
g. Hayden Hayden. Miller & Col,
Cleveland; secretary. Frederick R.
Fenton Dewitt, Tremble O. Col. Chi
cago; treasurer, c. T williams (F'idelity
Trust Company, Baltimore; board OF
governors, George Carr Henry civilian
Salomon & Coz, New York city;
Erastus w. Bulkley tSpencer, Trask &
Coz. New York city: c.. W McNear
(Woodlfn. McNear & Moore), Chicago:
George X. Reilly montgomery. Clothier
& Tyler, Philadelphia: J. Herndon
Smith "a. G. Edwards & Sons). ST.
Louis: s. ". Webb tOld Colony Trust
Company, Bosten: Henry L. Duer
,Whelan, Duer & Lanahan), Baltimore;
r. L. Scoville (Ussing. Scoville G. COB,
Pittsburgh; Charles r. Dunn Union
Trust Company, Detroit: Harry E.
Well. Roth & Coz. Cincinnati; H p
Wright GIL p Wright Investment Com
panyl. Kansas Cry: A c. Foster
tCausey. Foster & Coz, Denver.