Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-06-06
ANNUAL REPORT MADE
BY THE ". R. e. Co.
Financial Statement for the Year
1915 Submitted to the Cor
poration Stockholders.
Gross Earnings Exceed Those Of
1914 by $143, 1921, Notwith-
standing Jitney Competition.

The annual report of the Washington.
and Electric Company was
shows the year 1915 to have been a
financially profitable one for the cor
poration.
With the company's gross earnings
from operation exceeding by s143,192.11
the record of 1914. and this during
year when the jitney bus made a bid
for a share of the capitals transporta
ton business. the report is taken as
evidence that Washington ex-
perienced gratifying development
during the twelve months that closed
with last December
The gross earnings for the year
amounted to s5.191. 627.34. the report
shows In 1908 the gross earnings were
en-year period. therefore, is s1,471,o54.
Feature of General Summary.
The outstanding features of the gem
eral summary are the following: Gross
income, less operating expenses taxes
and depreciation. amounted to $2204-
sS3.50. and fixed charges amounted to
ST. %. leaving a surplus income of
81 6,SS6.2S, or an increase over 1914's
surplus of S5,413.69.
OF this surplus the sum of 1925, 900
was utilized for the payment of per
cent dividend on preferred stock and
$4,000 for the payment of per cent
dividend on common stock. making a
total of ssSO.O00 expended on dividends
N ts ha i,,
cluded the distribution of S1552714 to
motormen and conductors under the
profit sharing plan and the expenditure
of s105.40O on account of sinking fund
requirements of the Potomac Electric
Power Company.
Aside from presenting complete
financial statement. the report sets
forth in detail activities of the various
branches of the company and improve
ments made, which show the year to
have been one of substantial progress
in every direction.
Maintenance and Upkeep.
The companies are shown to have con-
tinued liberal expenditures out of earn
ihgs for the maintenance and upkeep
of their properties. the amount spent
last year for this purpose being s921,-
1881. During the five-year period, be-
ginning with 1911. total of $685.
1853 was expended for maintenance
and upkeep. These expenditures and
for depreciation, now are
direct to operating expenses,
as required by the public utilities COM
mission.
During the year the cars of the sys-
tenn Travelled 10.T0l, 155 miles and car
37S,52o We're carried on free transfers
The average fare per pay passenger
was 1921 cents. with an average fare
for all passengers carried of 3.252 cents
including transfers.
Improvements Noted.
Mentioned among the improvements
Of the year are the following: Provid-
ing of seats for motormen: construc-
ton of connecting link on 14th street
between street and Pennsylvania av-
snue, to give better service to the gov
buildings south of the avenue;
extension of Anacostia division to steei
plant at Giesboro point; extension of
Anacostia division one-half mile along
Nichols avenue; regarding paving and
other improvements on the Takoma
Park, Soldiers Home, Maryland. Ten
leytown and other divisions In addi-
tion. the street car shops were ex-
was replaced; $50 trolley poles and
1855 new railroad ties were used, and
3.2h rail joints We're repaired
Referring to the competition fur
nished by the jtney bus, the report
says: The jitney unfolded like the
butterfly: had it's little day and passed
on, demonstrating once more the fact
that no vehlcular transportation can
ma lntain reasonable route and head
way even without regulation, for five
cent fare. Even the so-called herdic
line Succumbed, after a struggle of
years, though it traversel an ideal rout q
one of the best sections of TIL.
city
Electric Power Company Showing.
The report shows that the Potomac
Electric Power Company extended it's
business in gratifying way during
the year The total connected load
December 81, 1915. was 63,1494 kiIo-
watts, an increase of 4,373.9 kilowatts.
The number of street lamps. both arc
and incandescent, in service at the end
of the year was 9,317, an increase of
1,102 for the year The company's de-
velopment for period of eleven years
is indicated by an increase of connected
load from 3S6,6S0 to 1,273,S1S sixteen
candle power equivalents" and number
of meters installed from 1851 to 27,755.
The total electrical output for the
year was l11.0S2,725 kilowatt hours
The requirements of the rapidly in
creasinG business have resulted in the
placing of an order for a thou
sand kilowatt urbo-Generator, which
is expected to be in operation by Octo-
Der this year. With this addition the
main generating station of the com
pany will have a capacity of upward of
.V,Uu0 electrical horsepower
In commenting upon the develop
ment of the company the report says:
while the stockholders of the Wash
ington Railway and Electric Company
need no reminder of the fact that their
treasury assets have for sixteen years
included all of the stock of the Poto-
mac Electric Power Company, it is evil
dent that the true situation is not ap-
preciated by many who have no f1nan-
cIai interest in the company. This
stock was acquired under authority of
an act of Congress dated June 5. 1900.