Evening star., 1923-08-28
" R &E:.. REPORTS
DROP IN EARNINGS
Seven Months Income Is Be-
low Same Period Last Year.
Telephone Figures.

| -'"' iiiNoiie vi 'lle w aShirlStnn Rail
way and Electric Company and IT'S
main subsidiaries. which include th4x
Potomac Electric Power Comparv.
the City and Suburban Railway Com
pany, the Washington Interurban
Company and the Geor getown and
/ Tennallytown Railway Company, fnr
the first seven months of the preseat
calendar year is approximately s+Ss-
'1sO in arrears of earnings reported
for the corresponding period uf last
i.year.
i Earnings of the various companies
4 making Up the Washington Railway
anu Electric Company proper con-
/ tlnue on relatively even tenor q,
survey of the report shows, the unly
/ exception being the City and Suburban,
4 hne, which shows a profit for the
seven months period of sI1D,414. as
! against only s10,240 for the same Pc
! flod last year
! The Washington Railway and Eler-
trlc Company had d net income of
Il Sb,d09 in July, 1928 a loss over Jul.-
II on last year, when Sl3,9J8 was rs
4 ported. Operating revenues of this
i company. slumped to S406.S59 during
4 year while the drop in operating ex-
/ Ienses and taxes was not enough 10
bffset this margin. viz, s342 ali arid
! S34g.212. respectively
For the seVen-month period of he
year the company shows a net inL
I come of s417.S27. as against y5O2.s47
| last year. An increase Of more than
/ s1o0.0 .00D in operating expenses par
naily offset by an increase of onit
I $4,000 in revenues is wholly re-
1 sponsfble for the decline
| Earning of the Potomac Electro
1 PoWer Company likewise shows a
] downward trend for the month The
net income of this subsidiary amount
ed ed, to s66 6os lss' as against $4,000. IN
5uiy, 1se2. Gross earnings frem
| against S377.449 last July hut ex-
penses and taxes aggregated s24411p.
as against S2l l0,401 last year. thus
| Mlplng out wide margin of profit .
The sum of S7S,71S was set aside dur
| ing the month as d continge ent ra-
serve Tor repayment to customers II
| hereafter ordered by the courts. max
ing an aggregate Of Sb10.S22 set aside
| Tor the year to date
| For the year to date, this COMPANY
mas earned S652,Ie3. decrease Of
! s60144 over the s712.937 reported fol
the corresponding period of last year
month Of July. 1923, shows a net in
/ come of 81 402, against S5.2S4 In .
| Jufy, 1922. Operating revenues
| amounted to sS9,794 and ss2.794. re-
| totaled S77.2t6 and sTs145, respe,-
| lively. For the sesen-month period,
! however, this line. due. to u decrease
; of approximately 500. .D00 in ope eratinE
! expenses; shows a gain, for the period
| OF Slightly more than this figure
| Operation of the Georgetown ana.
! Tennallytown line and the Washing
[ ton Intsrurban road continues at q
suffered deficit of s2.576. as agains9
Sst64 in July. 1922. and the latter los;
Ss49 and S1.236, respectively. For the
Seven-month period the former has
/ lost Sl3,11 as against s1o,ss3 last
year. and the latter 1881. in contrass
with deficit of 1896 for the frs.
seven months of 1922
| Phone CeaaRanS's Report.
Net operating income of the Chesa!
peake and Potomac Telephone Com
pany for the month Of July, 1923, in
creased approximately $4,000 over
but lost almost $4,000 as compared
with the previous month. June. 1929
! The company's report. which is being
fled today. shows the past months in
! come as SS1.4SS, as against ST5.6Sb III
JULY 1922, and Sl04,605 in June. 1873
Operating expenses of the compan NJ
! totaled s43S.123, and expenses aggre1
! gated s322,159. Taxes assignable %
operations and uncollectible aggreC
gated s32.956. and income from other
! sources amounted to S4.4g1
! The decrease in net income in July.
! 1928 compared with June of thiss
| year is due to seasonal reductions i1e
local and total message traffic. it Is
aaaa d ii pota1 fi, plant a2d osS eeuD@n.
ments, $4,000, and net additions.
| $4,000
Total net additions TO plant and
equipment for the seven months OF
the current year amounts to ST5s.6oe.
Merger Reports Denied.
Paul Leonard, president of the
Guaranty Company of Maryland. has
! publicly denied published statements
about. to merge with the international
Finance Corporation of this city,
! Basis for these reports had their
foundation at. conference last
Thursday between himself and Ernest
| L. Herreil and directors of the local
! agency. when mutual advantages OF
such consolidation were discussed.
| AS published in last Saturdays Star.
Nj. Hefreal and associates are web
satisfied with present conditions In
their hrmt and are not disposed TO
consider merger proceedings at this
time. =. - 's.- ..ss =
! Stock Exchange Trading. =
The bond list monopolized trade on
the Washington Stock Exchange this
Imorning, the more popular issues
holding the attention of traders at
/ Railway As were the real leader OF
the session, total of $1,000, face
value. selling at 1242. Gas 5s gained
fractionally 10 80. $4,000 changing
hands. while the 6s of this companT
Were strong at le1 and 1elA. Trae-
tion 5s brought 81.
On the, stock side two shares OF
/ Washington Gas stock sold al -. and
ten shares Of Railway preferred