Evening star., 1924-10-25
PEPCO'S EARNINGS
INCREASE $65,@9
Nine Months Compilation
Reveals Substantial Gains
Over Year Ago.
BY CHAS. p. SHAEFFER

BY CHAS. II. SHAEFFFR
Operations of the Potomac Electric
rover 90. Tor the first nine months
OF the present calendar year have pro
ouced a net income of $10Ss379. ex
ceedfng the s822410 reported for tho
corresponding period of last year by
sZo5,9o5. Lessened operating expendi-
lures, contrasted with increased on
eratlng revenues, is the responsible
factor, a perusal of the report shows
Durlng the period under discussion
sne CON pany had gross earnings of
$f,553.7sO, or s458431 more than for
the nine months of last wear vhiIa
operating expenses amounted to SO
a1S,963, only $24.315 more than The
Inree quarter period of 1923 Miscel-
ianeous income amounted to s2741SS
ana deductions totaIed S1.360,626.
for the year to date $922,757 has
peen added to the impounded fund
as contingent reserve for renav-
ment to customers if ordered bv the
courts. The sum of s90I6S was added
in September.
Septembers operation netted the
utility return of s109,O7O, s24.60l IN
excess of the amount reDorted for
the corresponding month of last wear
Gross earnings totaled s473,373 with
expenses of s24s,51S Miscellaneous
income aggregated s37,717, and de
ductions slj3,501
w. II. & f. Income AIso Renor1.d
Net income of the washington
Railway and Electric Co. for tn
hrst nine months Of this wear
amounts to s743,4S7, more than $50
Ooo in excess of the three-quarter
period of last year, when s588456 wa
reported. Revenue from operation
n
but expenses, on the other hand. de
creased to s2.84o'772 from SS.O75,6G4
Paving operations of the carrier havr
been leSsened to a perceptible eX-
tent this year. which IS mainly re-
sponsible for the difference shown.
For September, 1924, the compauv
reported a net of S10791, almoSf
twice as much as in 1929, when 1854
was shown. Revenues amounted to
s371,O04, with expenses totaling 1901
40. Incorporating income amount
ed to s15,160.
Both the Georgetown & TennallytoHn
and the City & Suburban lines show
deficits for the years operations The
former reports a nine month loss of
sl3,S32, as against a deficit Of $lS,592
last year while the latter reports S43,4S4
'in red" as against a profit of sos, 1856
in 1928. Extensive improvements to the
lines facilities this year is the cause
contributing to the deficit
Many Special Transactions.
Changes in the position of the Federal
Reserve banks in the last week were
due to special transactions rather than
new development in the general credit
situation. When the United States
Treausry called deposits in from banks
all over the country on October Is to
make payments of interest on Govern
ment obligations a general shifting of
funds from New York City to the in
terror resulted. The money thus distrib-
uted came back last week.
The generanl picture of the money
situation is one of continued superf1uity
of funds, with no Indication of any hard
ening of rates anywhere.
Fewer Commercial Failures.
Commercial failures in the United
States continue to show decrease
from those of year ago, r. G. Dun &
Co. reports, this weeks total of 402
comparing with 400 in the earlier Pc
riod. Fewer defaults occurred this
week in all sections of the country, ex-
cept the West, where the number was
the same for both years.
Local Stock Trading.
Diversified and relatively heavy
session on the Washington Stock
Exchange. All sales were made al
high levels.
Capital Traction 5s sold to the OK
tent of $4,000 at 9SA, and Potomdc
Electric consolidated IS changed hands
to the amount of s21, 900 at the same
figure. Washington Gas 5s brought
97l5, and the IS 1OlA Railway gen
eral and refunding 6s were traded
in at 9s15, and c. & T. Telephone 5s
moved in a range of from S9b to
par.
Stocks were likewise firm. Capitai
Traction sold at 921S, with Railway
preferred unchanged at 79. Norfolk
and Washington Steamboat sold at
216 and Commercial National Bank at
141 Riggs Bank moved upward TO
800, and Washington Loan and Trust
at 3S5 National Mortgage and In
yestment preferred eased on to 3.
Unlisted Securities.
The following latest bid" aud
asked" prices for unlisted securities
are quoted for the guidance OF hold
ers of these issues:
BONDS.
ARMY and Navy Club 5s........ - ...--