Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-29
v. R. {. AND PEPCO
EARNINGS INCREASE
Power Firms Net in June
S183,395.33, Against
$175,634.59 in 1925.
BY EDWARD c. STONE

BY EDWARD c. STONE.
Net income of the Potomac Eiec.
trio Power Company for June was
S183 1858, compared with $175.6 34.59
in June, 1925. showing a gain of
S7.76O.75. according TO the month
ly report filed with the Public Utilities
Commission today. Gross earnings
from operations for June of this year
were S615, 536.O7. compared with
$545 001.90 for the same month last
year, an increase of S7O.534.27. while
total operating expenses for the
month just passed were $2s5,536 o..
against S242, 48197 last year, another
gain being revealed of 42.65947
Net income for the six months ending
June 80 totaled SI.355 .951.O2. COM
pared with 81 267 .476.96 for the same
period last year. an increase of
$88, 47406
w. X. & f. Report Is Also Filed.
The monthly report of the Washing
ton Railway and Electric Co. was also
filed with the Utilities Commission to-
day. This showed operating revenues
for June reached 14.338.90. against
$399 ,664.98 for June. 1925; and that
operating expenses and taxes in June
this year totaled 1894 1885, ga, compared
with the smaller figure OF $316,1564s
in June year ago. Net income for
the month this year was $36,114.Oe.
against $33,643.73 for June, 1925, or
a gain of S2.410.36.
The city and suburban lines re-
ported the June net income as $3.50
SO, against loss a year ago Of $14.,
430.06. The same lines also re-
ported marked improvement for the
first six months of the year. the tota
net being $50. $3.50, against a loss
year ago of s1S,37453.
On the Georgetown and Tenley-
town line the net June income showed
loss of s11,321 but this was de-
| cided reduction over the loss of $21.-
533 for the same month last year
For the six months the loss was &14-
1873 compared with a deficit of $27 ESQ
for the first six months of 1928.
There was an increase Of so, 907 In
the number of paying passengers car
ried on the w. r. & E. lines in the
District in June. Passenger traffic
however. was lighter than in May of
this year, as June Is always one of the
quietest months Of the year.
Gas Light Issue Being Offered
Dean, Onatavia & Co. and J. & w.
Seligman & Co. are now offering the
s250,000 Georgetown Gas Light Co.
first mortgage per cent gold bonds
which they recently bought from the
gas company. These bonds are due
August 1. 1861. They are the last
S250,000 of a 81 600. 900 issue and are
not callable prior to maturity The
statement sheet announcing the Of
fering shows that the Georgetown
Gas Light CO. earnings have steadily
improved during the past three years.
The price is 100h and accrued inter
est, to yield more than 1876 per cent.
Potomac Power Stock Strong.
Potomac Electric Power preferred
stock led quiet trading on the local ex-
change today. maintaining its recent
strength. when so shares in three
transactions sold at 1Osas. Capital
Traction came out at 1881 and Mer-
genthaler Linotype was off to los on
sales of two 10-share lots. Five shares
of Riggs National Bank stock sold at
460. There was little doing in the
bond market. prices remaining steady.
Chaplin Sacks per cent preferred
stock sold in the unlisted department
at 100.
Names Publicity Chairman.
Howard Moran. president of the
pointed Frederick P. H. Siddons. sec
rotary of the American Security &
Trust Co., chairman of newly formed
committee to look after the publicity
for the association during the present
year. Some six or eight representa-
tive bankers are soon to be appointed
to complete the committee. Mr.. Mo-
ran believes this new committee will
be able to keep the work of the or
ganization very prominently before
the public.
Insurance Men Get Honors.
The graduating exercises of the
Rockwell Life Insurance School will
be held tonight at the Central Y. NJ.
C. A. A large number Of Washington
life insurance agents will receive di-
plomas after their intensive training
of the past six weeks. n. l.. Ellworth.
president of the District Underwriters
Association, reports that the school
has been an unqualified success.
Bank President Going Abroad.
Peter A. Drury, president of the
Merchants Bank & Trust Co., will
leave Washington in a week or two
for an extended trip abroad. While
away his delightful summer home at
| Bluemont will be occupied by the
Egyptian Minister. Mr.. Drury will
cover the usual tourist route while
| in Europe and will be away about two
months. returning early in October.
William d. Hoover, president of the
National Savings and Trust Co.. will
| leave here next week for Hot Springs,
Va, where he will pass his vacation
at the Homestead. He will be accom-
panied by Mrs. Hoover. and they will
| fL,a %,-tyN hxyY in0
at Winchester and Staunton on the
way.
Mining Concern Organized.
John E. Logan, Washington in
ventor, reports that he has perfected
a machine for saving fine gold that
he believes will change methods In
the gold mining industry. He secured
| a patent on it on June 20 after four
years experimenting. He says his ma
chine will save gold without the use
of quicksilver. The device is to be
handled by the Logan Mining and
Machine Co., which is being backed
by Washington and Kansas City in
terests.
Woman Stockholders Number 69,939.
On July 1 there were 69.939 women
holding stock in the Pennsylvania
Railroad, their total holdings being
32.44 per cent of the stock. They con.
stitute 49.47 per cent of the total
stockholders and are carrying an eV-
erage of as shares each. June was
the first month of the present year TO
show a decrease in the total number
of stockholders. The oft-heard state
ment that women own the railroad is
not borne out by the percentage hG'
ures.