Evening star., 1925-05-28
POTOMAC ELECTRIC
NET INCOME GAINS
Increase of S359,215 Shown /,
for First Four Months
Operations in 1925.
BY CHAS. r. SHAEFFER.


Net income of the Potomac Electric
Power Co. shows the huge gain Of
s359,213 for the first four months of
operation this year, as compared with
the corresponding period of last wear.
Statistics made public by the company
this morning show a net of 1901 $50
for the period ending April 30, as com
pared with S542,317 for 1924.
Gross earnings amounted to So423
342. a gain of $258, ,233 over last year,
while expenses decreased S111.277 to
S1Ol2,649 during the period All Of
the difference between this year and
last is clean-cut gain in net, with
the exception of about sSl 900 profits
shown as the result of a new account
ing principle whereby depreciation is
charged of at a monthly rate, instead
or in proportion to the business
transacted, as heretofore
Aprils net amounted to S1946s2 a
gain over April of last year of s67 .O6S.
Gross earnings for the month gained
s4S,S50 to $556,S90, while expenses de-
creased s16,S01 to s241,713.
w. II. & f. Four Months Net.
Washington Railway and Electric
Co.'S net for the first four months
this year amounts to $306,753, a gain
OF S40.225 over the corresponding four
months of last year. Operating reye-
nues of 81, ,5S7, ,607 for the period were
$l2.556 less than last year but a saw
ing of $l4,576 was effected in ex.
April's figures show a net return
OF S43,424, with operating revenues
or s4O4.343 and expenses of S31IO12
The City and Suburban line reports
four-month net of S9239. despite =
deficit of $15,045 suffered in ApriI
Inc Georgetown and Tenleytown line
lost s1,759 in April and has incurred
deficit of s1,899 for the year to date
Trading on Local Board.
The upward trend on common
stock of the Washington Railway
and Electric Co. apparently knows
no bounds. In today's restricted
trading three shares of the security
changed hands at 122, represent
ing a point-and- "a half advance ovein
yesterdays level. At Yesterday y
regular meeting of the board of di-
rectors of the company no considera-
ton was given to a back dividend
payment on the common. Holders of
the issue, however are confident that
such action eventually will come tn
pass. and until it does they will exact
handsome price for their interests
Inc preferred issue was firm bur
unchanged, a total of 200 shares
selling upward to 1885,. National
Mortgage and Investment preferred
brought 9A, and Railway As sold
at 80.
Southern's Earnings Up.
surplus of s1.594.0oO reported bv
.he Southern railway for April. against
'oOo In April of last year, brought
the total for the first four months Of
thls year to $5,727 600. equal after pre-
1erred dividends to 1894 a share on
slZo'ooo,0oO common stock This fig
ure compares with S4,2OS 900. or s267
snare, IN the same period of last year.
Better May Earnings Seen. :
The declining rail market is being
generally attributed 10 the uncer.
ta1nty regarding the Interstate Com
inerce commissions statement on the
| Nickel Plate" merger, and the disap.
polntment caused by some of the April
earnings reports. 1t is believed bv
many that an old-fashioned railroad
market during the Summer will en-
sue II the Nickel Plate merger goes
through without serious notifications
May earnings statements are eXpec-
ted to show up much better than
those Tor last month because of the
substantial increase in car loadings
during the last few months.
Transfer Tax Law Amended
The Pennsylvania Legislature has
1oIloWed the recent example of New
ork IN passing an amendment III
It's transfer tax laws. which providee
that personal property of a non.resi.
dent decedent shall not be subject to
inheritance tax if "a like exemption
IS granted by the laws of the State
or county of the decendent's residence
IN favor of residence of PENNSYLVANIA
This provision is now operative in
number of States and offers one of
the snort cuts toward modifying
the multiplication of State inheritance
taxes, where personal property or
securities of decedent are subjected
to duplication of taxes in various
States. The States where such recn-
rocaI provisions prevail are as fol
lows: Rhode Island, Vermont, New
York, Pennsylvania, Delaware and
Georgia. Immunity is also given in
Florida and Alabama, where no in
herftance taxes are operative. and
to the latter will be added Nevada
where abolition of inheritance taxes
goes into effect July /. Legislation
in Massachusetts, and California haA
also modified the effect of their in
heritance taxes on personal property
of nonresident decendents.
The States in which the so-called
New Hampshire fiat-rate plan" of
taxing nonresident property is in eff
rect includes New York, Connecticut,