Evening star. [volume] (Washington, D.C.) 1854-1972, 1922-09-07
RAILWAY EARNINGS
SHOW A DECREASE
Pepco's Report Less Favor.
4 abIe-JuIy and June
Comparisons.

ing off of net income during JniS' DIS
compared with the previous month, |
In their financial statements filed with |
the Public Utilities Commission TO-
day.
The power company reported net
income for July of $7s,200:36: ds
against $s6,941.T in June. Both OF
these figures represent what the COM
pany made after allowing for the
money II is required to set aside
for return to consumers in case the
Public Utilities Commission is sus-
tanned in valuation proceedings now
pending in the Supreme Court
Gross earnings OF the Potomac Elec-
trio Company from operation for
July were s377.44s.Ss, and operating
expenses $215,40l.14.
This gave net earnings from opera
ton of $162.04S.24; miscellaneous in
come, s32.os4os; gross income. less
operating expenses. $194,142.32; de-
auctions from income, $115,941.s6.
This left net income of $7S.200.36.
Net income of the Washington Rail-
way and Electric Company for July
went down to $13.s57.76. from $780,
for July. s42s.2s5,ss: operating eS-
penses and taxes, s349.272.O6: operat
Ing income, $72.963.79; incorporating
income. $7.132.71: gross income less
expenses and taxes. $s0.o96.50; deduc-
tions from gross income. $66,l3S.74;
giving net income of S13.s57.76.
Washington lnterurban Company
reported a net loss for July Of ST.
236.49, which was an improvement
over June, when the net loss was ST.
64353
Georgetown and Tenleytown Com
pany reported net loss of $2.083.93
for July, as compared with loss of
S1,126.lS in June.
! City and Suburban Railway showed
a net income for July of $5.2S417. as
red with a loss of S20 OPP FL
for June.
According to officials of the COM
mission. this deficit was due to the
rebuilding of the G street track. which
was temporarily charged entirely to
maintenance. After the engineers have
determined what percentage of recon-
struction should be charged to new
capital this June report of the City
and Suburban will be altered.
Local Securities.
Business on the local stock ex-
change was again active. with the
common and preferred shares of the
Washington Railway Company fur
nishing the most business in any one
security. The common stock was very
strong at 561s with the preferred
16ss for most of the session. with
ten-share lot selling at 76h.
Washington Gas was strong at 81.
Norfolk and Washington Steamboat
shares were firmly placed at 200
share.
Typ.setters were slow. but firm.
Mercy. 154a4 Lanston. SO bid, with
81 asked.
Gas IS were firm at s4A. while
railway general 6s rose to and held
firmly at par.
Passing of .BIind Pools"
Baltimore lawyers advised bankers
that blind pools" were not amenable
to the blue sky" laws of the state
nd hof hAr
impossible.
Baltimore papers this morning men
ton the appointment of receivers for
two blind pool combinations. the
Community Finance Company, and the
Fidelity Finance Company.
The former had an Office in the Bond
building in this city. On the door this
morning is notice Of Temporary
closing. notices will be sent to share
holders"
1t is understood that s10.75o has
been recovered and will be paid back
to customers. This was collected from
forty clients last week by the Balti-
more agents. Nicholson and Leifich, of
the Community Finance Company-one
Per cent on 100000.
1t is said to be the view of the Mary
land blue sky" committee that mil
lions of dollars taken from the pockets
York and spent in riotous living by a
coterie Of inscriptions financial OPP
orators who are now missing"
Some names of nationally known
crooks are said to have been inter-
ested in the pool operations as
hackers. Burns men are now on the
case"
Ponzi is In the pen with a score of
indictments over his head. but still
there is room for more to follow
more lambs to feed the wolves.
Personal Mention.
John B. Larner. president of the
Washington Loan and Trust Com
pany, has returned from his summer
home in Pennsylvania.
William B. Hibbs returned last
evening from a vacation spent in
Maine and on the north shore, rest
ing and recuperating.
George E. Fleming, vice president.
OF the Union Trust Company, after
being on duty all summer, financing !
some Of Washington's largest prof. !
ects and substituting for E. ]. Stell- |
wagon. while the latter was at Po-
land Springs. has gone to Nantucket.
Mass. Salt water and a stiff breeze
for the big mortgage money man.
Charles + Jacobson. cashier of the |
National METROPOLITAN Bank. is en-
In little cottage of twelve rooms. |
Robert v. Fleming, vice president !;
and cashier of the Riggs National |
Bank. returned this morning from a |
week at not springs, Va. He will |
enter the Riggs golf tournament to- |
day. practicing for the big cup now |,
held by Ralph Barnard
'Floyd A. Crompton. cashier of the |
Guaranty Savings Bank, has returned !
from a motor trip to Detroit and /
other western cities.
Ford Motor Production.
During the first seven months of ,
the current year the Ford Motor ;
Company produced 68S,02S cars, as |
compared with 554,727 for the same |
period last year.
Railroad Earnings.
Class railroads in the United
operating income for the year of |
$500. 100000. or about per cent Of |
the investment Of SIS. 900. 0O0, 000
II is expected that the cost of !,
lighting the striking shopmen will more
than eliminate any benefit that the |
roads might otherwise have obtained
from wage cuts. !
Last year the roads did their best |
business in the last half of the year,
but 1t Is not likely that history will |
repeat because of the strike, but the
next few months should see a very
large movement of freight on all |
lines.
d. G. Dery Corporation bonds.
Redmond & Company and Janney
d Company announce that the $4,-
100000 d. G. Derry Corporation FIRST
mortgage per cent sinking fund
gold bonds, offered at 100 and in
terest. have been largely oversub-
scribed. The bonds are secured by
hrst (closed) mortgage on the entire
60 al - o,1 % 4