Evening star., 1927-10-01
HAS AUGUST
GAIN OF $32,3136.
w. R. & {. Also Reports
Higher Earnings-0ther
Local Financial News.
BY EDWARD c. STONE.

BY EDWARD G. STONE.
Total net income Of the Potomac
Electric Power Co. for the month Of
August reached $1s3,721.36, compared
with $151, ,40S31 for August, 1926, or
gain for the period of $32,313.05.
The Power Company also showed a
substantial gain in gross earnings
from operations. The monthly re-
port Just filed with the Public Utilities
Commission reveals gross earnings of
1921 ,081.33 for the month. compared
with $577,1S436 for the same month
ip 1926, an increase of $43,S96.97.
The company reported total operat
ing expenses of $314,003.73, against
$3.50, ,777.02 in August, 1926, showing
that operating expenses this year, were
more than 5000 higher than year
ago. Gross income. less operating ex-
penses, reached the sum of 1929. .S57.68,
in comparison with 1902 50 in Au-
gust year ago, or an increase or
$685. 80.
The report filed with the commits
sion also covers the first eight months
of the present year and shows a net
income of $1,902 ,390.89. The net in
come for the first eight months of
1926 was S1,672 ,634.36. which means
gain so far in 1927 Of 1929, 1858.
Gross earnings from operations for
the eight months amounted to IS, ,542,-
s95. .OS compared with $5,132 ,459 10 in
1926. the increase in gross being S4l0,'
435.93. Operating expenses during the
period were also higher, being S2,462,'
1854 against $2,258,12 a year ago,
the extra costs amounting 10 S-o4'-
1920.
Net earnings from operations total
cd S3.O8O, ,O5624 in comparison with
last wears summary of $2,874, ,333.51,
the gain in net earnings from opera
tions being S205, 5,722.73. This left
gross income, after the payment or
operatfng expenses, Of S3,2O4,57S.S4,
COMPARED with $2,978,835.38 q year
ago. or an increase of $255, ,743.46.
w. r.. g. Il. Shows Substantial Gains.
In the monthly report for August OF
the Washington Railway & Electric
Co. filed with the Public Utilities Com
mission, a total net income or $218,-
41S.47 is shown in comparison with
a lower net income in August, 1875, or
S241, ,e72.34.
The company reported larger operat'
ing revenues, the figure being S443,,
O82.56 in comparison with S5oo'9lI.lo
in August, 1926. Total operating goeo eS-
nenses and taxes amounted to $685.
83s.77 against $314,964.09 in the same
month a wear ago. After the deduction
Of expenses and taxes the street rail-
way company had total operating m
come of $54,247.79, compared with
$43,947.09 in 1926.
A summary of the company's net
income for the first eight months OF
the present year shows earnings OF
81 .08S. .359 "a in comparison with $94o,-
$3.50 for the corresponding period
in 1925. A..
Total operating expenses for the
eight months amounted to $3,5o4,-
566.02. against $3,215,045.14 a year
ago. Expenses and taxes for the
eight months amounted OF S5,loo''
OS6.51, in comparison with Sz,ool'-
O73.82 last year. Gross operating IN.
come, after deduction of expenses ana
taxes, amounted to 1851, ,479.51. Last
year the similar figure was $685.
971.32. The company's gross income,
less operating expenses and taxes, was
81 sos, ,835.67, compared with $l,4ll,'
114.07 year ago.
In connection with the substantial
gains shown in the company's net
income for August and for the first
eight months of 1927 it should be
borne in mind that the report in
cludes the earnings Of the Georgetown
and Tenleytown and the City and
Suburban lines, which last year made
SEPARATE returns. AS both these lines
have displayed good earning power.
their figures are an important factor
in the above mentioned increases in
net earnings.
Local Market Very Active.
Trading on the Washington Stock
Exchange was exceptionally heavy to-
day when Saturday opening was re-
sumed until next Summer. 1t has
been many months since there have
been anywhere near as many different
transactions recorded in one session.
Prices were strong. Railway & Elec-
trio preferred was by far the most
active issue, 1872 shares changing
hands in Is separate transfers. The
last sale was made at 977s. The same
company's common stock appeared on
the board twice, opening at 375 and
closing at $40.
Capital Traction sold at 106, Potomac
Electric Power per cent preferred
registered 110A, while the 51a per
cent sold at. .1O51a. American Security
& Trust opened at 465 and advanced
to 47O. Other stocks held recent levels.
There was long list Of bond trans.
actions at firm quotations.
Bank Distributes Publication.
The Federal.American National
Bank was today distributing to it's
depositors copies of The Bank Mes
senger, a pictorial and news monthly
intended to stimulate thrift, good man.
agement and mutual interest among
customers and friends. 1t is a neat
publication, containing lots of valu-
able financial hints. Financial Inde.
pendence at SO" is one of the features.
During the week John Poole, presi-
dent of the bank, awarded gold prizes
to the employees who last year com.
pleted courses in the local chapter,
Institute of Banking. The prizes
totaled $3.50 in value and were present
ed to % members of the staff. It is
the fourth consecutive year that the
bank has shown this special interest
in the younger employees.
What Local Banks Are Doing.
Vice President George o. Vass of
the Riggs National Bank Is spending
a few days at Atlantic City.
Vice President Bertram Chesterman
Of the Morris Plan Bank has returned
to Washington after attending the al
nual convention of all the banks in
the system at Newport, r. I.
M. f. Calnan, cashier of the Liberty
National Bank, has returned from a
vacation passed at Sherwood
Forest.
Irwin L. Miller, president Of the
Gettysburg National Bank, was a re-
cent visitor in this city.
Roy A. Young of Minneapolis Is ex-
pected to assume his duties as gov
ernor of the Federal Reserve Board in
a few days, according to a Treasury
succeeding Daniel r.