Evening star., 1923-02-27
SEAB0ARD SHOWS
$4,000 SURPLUS
Railroads January Earnings
Large-Revenue Totals.
! Pepco January Report.

A surplus OF $4,000 available for
interest on adjustment bonds after
charges and taxes was shown III
January by the Seaboard AIR Line
according to it's monthly statement.
Tho gross revenue totaled Si,4sT,oo",
compared with S3,5SS.569 IN 13-2.
Other income was $4,000.
An. item Of s26l.O00 car hire for
the month was occasioned by the
heavy movement of fertilizer In Jan
uary, earlier than that movement
ordinarily occurs. Fertilizer Is un-
loaded slowly and requires more cars
than most classes of freight. In
January the road was short some
$500 cars, undelivered in the equip
tnent program schedule for 1899.
First two weeks of February
showed increase In gross of S500,00o
as compared with the corresponds ne
pertod of 1929. Loads moved in the
third week of February. 1929, totaled
Ss,3e6, against 2S,S60 in the 1922
month, an increase OF $.T5 per cent In
crease for the first week OF February
was 3a.3 per cent, and for the sec
ond week 36.6 per cent.
Internal Revenue Collections.
January collections Of internal rev
enue totaled S127,640,232, it was an
nounced yesterday at the Treasury
This brings the aggregate for the
first seven months of the current
fiscal year s1,277,'66, ,66S, or S771,555.
600 below the tax payments for tn,
81, 1922.
The payments in January were only
slightly more than half those of De
cember the wide difference being due
to the fact that December payments
included the last quarterly install
ment for the calendar year 1872
Income and profits taxes for Janu-
ary aggregated sS6,1OO. 900. or abou,
38.000.000 below the collections of
January year ago. The other great
sources of taxes. revenue from tobac-
CO. produced s26.550.Sls. $4,000, 900
more than in January. 1922.
Pepco January Earnings.
The Potomac Electric Power Com.
pany was operated at u net income
of S115,23s during the month of
January. 1923. according to state
rnent of earnings filed with the Public
Utilities Commission yesterday. This
sum represents slight decline from
the s13l,9so reported for the cor
responding period of last year. but
is approximately $4,000 in excess oi
Decembcr's earnings, which totaled but
S74.664
Gross earnings of s5Ss.61s during
the past month compares with
S434.173 for the same month of last
year. but operating expenses for the
latter period are heavily in excess
Of those for January. 1922, s309.4i2
and s257.567, respectively. Still an
other source of loss IS the deductions
item which amounted to s12S.726 last
month as against s1e2,979 for last
year.
Net earnings from operations Of
the company totaled s224,176 with
s1s.7s7 derived from miscellaneous
During the period under discus
sion s1l4.756 was ivnpounded as a
contingent reserve for repayment Ia
consumers in the event the corpora
ton loses it's fair charge suit now
pending. which brings the total i'm
pounded fund to s3,o62,e73, which
sum includes interest
Net Income OF w. II. 4 T..
Net income Of the Washington Rail-
way and electric Company during
The past month slumped perceptibly
TO $12.S17. in contrast with s1S.S33
for the same month of last year, and
with S14,S73 in December. 1922.
Operating revenues of the COM
pany amounted 70 s411,14S, with ex-
penses totaling s342,027. Nom oper-
ating income was placed at S9.GS9
and deductions amounted to s65, 5,993.
urban railway for the month of jan
uary amounted to 5000, being al
most double that Of the preceding
month and the same month year
ago, when $11,726 and sl0,516 were
reported, respectively.
Operating revenues totaled $9S.s6S,
with expenses and taxes amounting
to s12,0ss. Deductions totaled s7,s6s.
Interurban Report.
The Washington Interurbau rail
way was operated at loss OF S522.
during the month of January, 1923,
which compares with a deficit OF
$3.50 in December and 4 loss of 1861
in January, 1922.
Operating revenue amounted 70
s2,6S6, and expenses totaled s2.o62
Deductions to the extent of S546 were
made.
The Georgetown and Tenleytown
line likewise suffered a deficit for
.Januarys operations. The month s
setback amounted to S2,207, which is
practically on an even keel with De
cember's deficit Of ss,146. and the loss
Of S2,159 recorded In January, 1922.
Operating revenues amounted TO
sS,54s, and expenses and taxes ag-
gregated $s,716. Deductions amount
ed to &1,o45.
Cleveland Co. Subsidiary Plans.
William L. David, Cleveland, and
Donald Thompson. Pittsburgh. who
were appointed receivers for the
Sharon Pressed Steel Company of
Sharon, Pa. will continue to operate
rhe business of the plant, which con-
sists mainly of stamped metal parts
for automobiles and trucks.
Announcement also was made that
Mr.. David and Thomas II. Hogsett,
who were appointed receivers for the
Cleveland Discount Company, which
has an Office in Washington. in the
Munsey building, have been named with
Bertram l.. kraus. New York attorney,
as ancillary receivers for the New York
branch of the company.
They were named by Justice Mar
tin of the New York supreme court
Saturday on proceedings instituted by
David and Hogsett. AS the company
operated branches In many parts Of
the country, it is expected that simi.
lar receivership actions will be taken
at other cities by the receivers.
The Sharon company is the second
in which the discount company was
interested that has become involved
in receivership. The Portage Con
struction Company, Akron, for. which
the discount company sold a s25o.OoO
issue of first mortgage bonds. went
into the hands of receivers two years
ago.