Evening star., 1925-03-26
PEPCO EARNINGS Up
SS,O89 IN MONTH
w. r. & {. Also Reports Gain
in lncome-Day'S Trading
on Local Board.
BY CHAs. p. sHAEFFER.


Net operating income of the Poto-
mac Electric Power Co. amounted to
s244.607 in February, 1925, a gain OF
S96,0S9 over the corresponding month
or last year, according to report Of
earnings filed with the Public Util-
tiles Commission this afternoon.
Gross earnings of the utility for
the month amounted to s613.676,
gain OF $56,057 as compared with last
year, while operating expenses
amounted to only S238,433, a decrease
OF s4l,S94. Another major factor en-
tering into the gain is a new system
IN charging off depreciation, installed
In January. This depreciation is now
pro rated monthly instead of being
charged off proportionately with the
volume of business done, as in the
past, this item in the past month,
alone resulting in an appreciation of
sz5,OOO over February, 1924.
miscellaneous income during the
month suffered to the extent of about
$4,000, as compared with last year
and amounted to only $16,119. De-
auctions for the month aggregated
s146,756
Earnings of the fuel company for
the hrst two months Of the year
amount to s504,4SS, an increase of
100000 over last year.
The Washington Railway and EIec-
trlc co. also reported enhanced earn
fngs, net of 1925, 722 last month.
comparing with only s164,406 for the
same month of last year. The gain
was made up primarily by non
operating income which last month
amounted to S225,092 as against
s157,935 in 1925.
operating revenues totaled S366,seS,
loss of $4,000, with expenses
amounting to s299.595. about $4,000
less than the same month of last
year.
Earnings of the company for the
nrst two months amount to $236,496
gain of $4,000.
The City and Suburban line earned
sS,2f3 in February last, a loss of
about $4,000, but the Georgetown and
Ienleytown road showed a profit of
SSIT, as compared with a loss of ST.
feo Tor the same month last year.
With Same Bank 35 Years.
The District banking fraternity is
noted for its alacrity of execution.
AT yesterdays regular luncheon AL
bert s. Galley, vice president of the
Lincoln National Bank, innocently re-
marked the day was his thirty-fifth
anniversary with the bank, he having
begun his banking career on March
25, 1890.
The remark apparently went un-
needed, except for the usual felici-
tations, but when Mr. Galley returned
to his institution a handsome floral
tribute in commemoration of the day
was reDosing on his desk, the donors
being his luncheon associates of 4
few minutes previous.
Dividends Declared.
Directors of the Security Savings
and Commercial Bank yesterday de
clared the regular quarterly dividend
of 8 per cent and an extra of l per
cent. both payable on March 81 to
stockholders of record March 25.
Directors of the National Capital
Mortgage Co. have declared the reg
ular quarterly dividend of per cent
on both common and preferred
stocks. payable April I, to sharehold
ers of record March 81.
Tribute to Board Member.
Directors of the Potomac Savings
Bank have passed a tender tribute
expressing their sympathy and regret
at the death of William H. Haney,
member of the board.
A copy of the resolution, hand
somely engrossed and bound in a
leather album. has been presented to
the deceaseds sister, who is the sole
survivor of the immediate family.
New Oil Issue Brought Out.
A nationwide syndicate of bank
ers, headed by. Gerell & Co. of Chi
cago and Stein Bros. & Boyce of Bal-
timore, is offering for public sub
scription 100000 of Transconti-
mental Oil Co. five-year per cent
gold notes al par and interest. Each
note will carry detachable warrant
! which will entitle the holder to pur-
chase 100 shares of Transcontinental
Oil Co. common stock for each $1,000
par value held on or before October
/, 1925, at $3.50 per share. After this
date the call will be gradually in
| creased TO April 1, 1929. The notes
are the direct obligation of the COM
pany.
Trading on Local Board.
The price level on the local ex-
change was unchanged today. Ian
ston Monotype sold in good volume
at S1k, IS shares changing hands,
and 500 shares of National Mortgage
and Investment preferred brought
az. Firemen's Insurance Co. broke
| into the sales column with exchanges
of $50 shares at 27h.
Railway As were in good demand
at 79h, s17,50o changing hands at
| this figure.
| nATpv pp0nTTrTC