Evening star., 1923-03-28
PEPCO HAS HEAVY
REFUND|NG IN JULY
Bonds to Amount of $4,69l,-
600 Mature-RailWay Co.
Has ST, 100000 Due.
RH I. A. FLEMING

: The Potomac Electric Power Company
will have TO do some heavy financing
n the immediate future. as maturi-
les only ninety days away will call
for 1851 900. the general Is Of the
corporation maturing July ! next.
In addition To this the Improvement
and enlargement Of the Bennins
plant must be provided for with much
costly machinery for the large s-rv-
ICE to the clients Of the company.
A general shut down Of the great
plants of the corporation must ne
avoided at any cost and to mate rhisl
doubly safe added machinery in unit
is necessary.
In anticipation OF the maturity OF
The general mortgage 6S and other
financing the company planned the gen
cral mortgage and refundings Is, small
amount of which was authorized, is
sued and sold last year and which are
now listed on the local stock eX-
change. with the last sale at l0I.
These bonds were put out at 9S, but
would be readily salable now on a
b per cent basis.
The Potomac Electric is III good
financial condition, despite the fact
mat II is placing SO much Of it's earn
anss, about $4,000 a month. in es-
row in connection with the valua-
ZION claims OF the company against
me physical valuation made by the
Conlmi SSionS experts
1t is probable that arrangements
1tave been made for the sale of suf-
Hcient general mortgage and refund
ing rs 10 provide for the retirement
OF the July maturties.
The Washington Railway and Elec-
'ric Company also has $1,000. 200 ma
turity July ], this being an issue OF
al,000,000 general mortgage 6S. for
which, it is understood, arrangements
have been made for caring for when
due.
Todsy's Market.
Or tonay's call or the Local ex-
"hange not single transaction was
made, but after call quite fair busi-
ness was transacted.
Washington Gas IS were easier at
9tn, also Capital Traction 5s at 96is,
while Railway 4s brought rex ares
chesapeake and Potomac Telephone
5s brought 9S.
Stocks were decidedly slow Trac-
Ion was off fractional!y at ssts.
bid and 66 asked. The preferred was
?S bid and II asked.
Washington Gas. AZ L aie%z
Public Utility Earnings.
Net income for the Potomac IGlec-
trio Power Company declined slightly
70 $l14O42 during the month OF Feb
ruary, 1923, as compared with S122,-
year ago, according 10 statement OF
condition filed with the Public Utili-
ties Commission yesterday. A net
income of s115.23s was reported for
January, this year.
Gross earnings from operations
totaled s491.099 during the month
the report Showed while operating
-Apenses amounted TO $276,356. leav-
ing $22O,743 net earnings from op-
erations Miscellaneous income ag-
a gd II LODI tons
tailed $12S.f76.
During the month the sum OF Sl10-
62S WAS set aside as contingent re-
serve for repayment to consumers If
hereafter ordered by the court.
W. II. and T.. 60. Reports.
Net income Of the Washington
Galway and Electric Company also
suffered slight slump during the
month Of February. AGGREGATE
earnings of Sl66.337 were reported
;or the period, which includes non
operating income of sl57,696. This
non- operating income includes in
terest and dividend payments to the
extent of $I56,971.74. Net income
OF the company amounted to $169,O73
nor February of last year talso a
dividend month";, but totaled only
$l2.sl7 in January. 1923.
Operating revenues during the
period totaled S31S.O73, while operat-
ing expenses and taxes aggregated
9o"o,ooS, ieaVlnS an operating in
come of $74.374. Deductions totaled
S65,732 for the period
Other Companies' Earnings.
Net income of the City and Sub
urban Railway Company amounted
10 Sl4,S64 during last month. as COM
pared with Sl0,221 for the correspond
ing period a. year ago.
The Washington Interurban line
was operated at a deficit of s421.96
during the month.
The Georgetown and Tcnleytown
line was operated at a loss of $1.7lG.
compared with S2.207 the previous
month. and with a deficit of $l.973
Tor the corresponding month of last
year,