The Washington herald., 1917-01-21
STOCKHOLDERS MEET
AT ANNUAL ELECTION
Washington Railway Head Submits Re.
port on Progress of Company.

oeoekholders In the Washington Rail-
way and Electric Company and Its sub.
Isiularies, including the Potomac Electric
- @ Company, representing more thar
i,o,VV shares, attended the annual meet
ms yesterday. in the company's building
Irourteenth and streets northwest
rhis representation was stated to have
oeen one of the largest ever recorded ir
e,e history OF the company.
| Inc former board Of directors with the
Aoep'ioh or Oscar l. Gubelman, of New
lrn CITY, was reelected, Charles A
opaioins' Of this city, succeeding him
IL was stated that Mr.. Gubelman, who
nae large financial interests In New York
.nroush mis- connection with the banking
mouse OF knauth, Nachod & Kuhne. re-
| tireo through inability to attend all the
BOARD meetings owing to other interests
| The directors elected yesterday were Mil
ton Z. Allies. Charles J. Bell. woodbury.
biair' William F. Ham, Clarence p. King
| Niham Loeb, jr, Clarence F. Norment
dell
| NO Changes Made in Omcers
The former officers will continue to ad.
minister the affairs of the company for
! the ensuing year. They are Clarence p
| King. president; William r. Ham, vice
president; c. e. Brown, treasurer; S. r
| Bowen, secretary, and William L. Clarke
| assistant secretary.
The executive committee remains the
same, with Clarence F. Norment, chair.
man, and includes Messrs. Allies, Bell
Blair and King. The present legal staf
OF the company remains intact, and con-
slsts OF John s. Barbour, general attor-
| ney; ]. j. Darlington, consulting coun-
sci; Charles A. Douglas, special coun-
sci and George p. Hoover attorney.
New official appointments made dur.
Ing the year included Edward w. King
assistant to the president, and j. H
Stephens, superintendent of railways
These offices will be continued.
other OmciaIs Reelected.
The additional general STAFF of tn.
| railway company appointed for the veal
consists OF Charles S. Kimball, engineer
of way and structures; J. T. Moffett
superintendent of transportation; VIII.
| lam F. Dement,, superintendent of traf
| t1c; G. Z. Haar, superintendent of shop
and car houses; r. w. Crowell, purchas
ing agent; L. W. Glazebrook, chief sur
geon; J. B. Hoellman. general store
| keeper; II. w. Baum chief accountant
and L. B. schloss, publicity agent.
| For the Potomac Electric Power Com
pany, the general operating staff will in
| clude l. E. Sinclair, general superin
| tendent: John C. Mclaughlin, MANAGE
commercial department A. 8. Parry
chief accountant: II. A. Brooks, c. NJ
Marsh and c. P. Mangan, commercial
department district managers, and w
! X. Handy, office manager. f. w. White
| head will continue as cashier and ]. G
Gray as chief bookkeeper the remaining
| members of the staff being c. s. Wilson
chief engineer. Benning power plant; w
| II. Memler, superintendent OF construc
| ton; S. /. Folsom, sub-station superin
tendent; ]. H. Ferry. superintendent o.
| engineers: r. B. Patterson, superintend
ent of arc lighting department, and w
II. Fellows, superintendent of meter de
partment.
Increase in Income for Year.
| The report of income for the wear
shows material increase, the complete
statement of the railway and subsidiary
companies, including the Potomac Elec.
trio Company, being as follows:
! Gross earnings from
operatiOu.. ........S5,s 1856 s.lsl ez sr ss. L
MISCELLANEOUS income G.Soa 2.s8p 5la.r
Gross income. 5,sss5a s.a,s5T ssus.s
Operating expenses
| Increased taxes and
depreciation, ...... s2so4B6 % aos.rLg zI.n4s
- -
Gross income less op-
Grating expenses
taxes and depre-
citation ............. 22s,E % 2a4.ss0 a.As
FIXED eharEes-'... l.ls,~4.s l,ls.@.2 6H6
Surplus income e..... Log. s362 luls, $50 . IS
DISPOSITION OF SURPLUS INCOME.
surplus income. ...::............ S,p2 453 6
| Payment OF 81 dividend on
| prelerred stock............... SG5o0O
Payment OF T. dividend on
common stock................ l3ooO sonoe
n2.@s
Sinking fund requirements
| Potomac Electric Power Co. losomco
| Miscellaneous items-Net debit 1923 ll3G2
Profit and loss surplus for the
year. @spls
Report of President.
During the year the railway compan!
carried 9o,0S5, ,225 passengers, 2t,4S9,7A o
| whom rode on free transfers.
In a special report to the stockholders
| PRESIDENT King announced that the Po
tomac Electric Power Company was nov
| serving 31,54S customers an increase owe
| l9l6 of 3,7S3 users of current for lightinj
and power purposes. He gave an inter
estins account of the development of tn,
entire system covering a ten-year period
stating that in all the history of tn,
company, extending over a period of NOR
than half a century. with all the vicissi
tudes or the days of early development
and the many changes in methods O
operation and types of construction, NJ
landmark stands out more PROMINENT,
than the building of the Benning Power
station. which occurred Just ten year
| ago."
This plant, constructed in 1906 wher
first built had but one 100 and two 200
kilowatt turbo generators. During 100
another 5000 kilowatt generator wa!
added, making total at the end of 100
OF 14oW kilowatts, or 1900 horsepower
From time to time, It was necessary tc