Evening star., 1927-08-28
PEPCO AND v. R. {.
INCOMES DECLINE
Figures Compared With Prior
Records-LOcaI Banking
Chapter Committees.

net income for July year ago, which
was 5.275.03. according to the
monthly report filed yesterday with
the Public Utilities Commission.
The Washington Railway & Electric
Co, which also filed its July report
yesterday. showed falling in net in
come below both last month and July
a year ago. Net income for July this
year was S25,725.26. as compared to
S34,o20.06 for June and S40.627.35 for
July. 1926.
The Potomac Electric Power Co.
showed gross earnings from opera
tions of S636.759.63 for the month of
July. as compared with S663,370.72 for
June and S5S6,10016 for July last
year. Operating expenses also drop
ped below June, but were higher than
for July last year. while the net earn
ings from operations showed the same
trend. Miscellaneous income. how
ever, stood at $22,05S.71 for July.
above both June, with S20,030.S4. and
July last year at $16,0s3.53.
The Washington Railway Electric
Co. reported operating revenues or
s472,94S.17 for July. as compared with
S492. .O3S.26 for June and S4o3,Ss4.V
for July. 1926.
Operating expenses and taxes for
the w. r & f. stood at S400, 0,Sol .bo
for July. as compared with S4ll,2S0.1l
in June and $500, ,367.67 in July of last
year.
Bankers Committee List.
Three important committees of the
Washington Chapter. American IN
s,itute of Banking, for the current
year were announced last nlsht Wy
headquarters as follows:
AI,,;sorx, oop1,1oittp OF halrnlan, L.
]. Roberts. Riggs National Bank:
members, Francis G. Addison. jr., Sc
curity Savings & Commercial Bank:
Victor B. Deyber, Second National
Bank: Joshua Evans, jr.. District Ma
tional Bank: Robert V. Fleming, Riggs
National Bank; Harry V. HAYNES,
Farmers & Mechanics National Bank;
#. Hunton Leith, Security Savings q
Commercial Bank: Howard Moran,
American Security & Trust Co; john
Poole, Federal American Nauonai
Bank; w. w. Spaid. w. B. Hibbs
Co.
Public affairs and public education
cOmmittee-Chairman. E. j. McQuade,
Liberty National Bank; members,
Francis G. Addison, jr., Security
Savings & Commercial Bank; Charles
d. Boyer, Federal-American National
Bank: James C. Dulin, jr.. American
Security & Trust Co.; Victor B. Dey-
her. Second National Bank; Harry V.
Haynes. Farmers & Mechanics Ma
tional Bank; John Poole. Federal
American National Bank; Wilmer j.
Waller, Federal American National
Bank; George. o. Watson, Liberty Ma
tional Bank.
WAYS and means committee-Chair-
man. r. Jesse CLANCY, Commercial
National Fcnk; members. John w.
Fisher, Federal American National
Bank; Philip M. Garnett, Riggs Ma
tional Bank: Leo J. Moran, w. B.
Hibbs & Co: l.. T. Savage, American
Security & Trust Co.
Agency i'm New Quarters.
The Washington agency of the
Mutual Benefit Life of Newark, n. j.,
moved yesterday to it's new quarters,
occupying the entire fourth floor OF
the B. F. Saul Building, 925 Fifteenth
street. This organization, which has
doubled in size and amount Of busi-
ness written in less than three years,
Is under the management of II. Law
renee Choate and associates.
Acceptance Market Statement.
New bills were scarce in the New
York acceptance market during the
early part of the reporting period.
from July Is to August II, according
to the Federal Reserve Boards state
ment, and market rates were generally
reduced toward the end of July. The
supply increase from that time, ac-
companying, series of reductions in
rates in August, both in the market
and at the reserve banks, and dealers
purchases during the period, as a
whole. were considerably larger on
the average than during the preceding
four weeks. The demand was active,
chiefly on account of foreign orders
for the purchase of 90-day bills, but
dealers portfolios. nevertheless. in
creased to the largest total Of the year.
Sales to the Federal Reserve System
from all markets were smaller than
at any time since 1924. The Boston
market was reported dull throughout
the period, but with a temporary in
crease of activity around the 1st of
August. There was little movement
in Philadelphia or Chicago
Fuel Power Contrast.
The relative importance of power
generated by fuel as contrasted with
water power has remained practically
the same during the past five years.
Only about one-third of the power pro.
tion lies partly in the increased ef-
ficiency in the use of fuel. The aver
age amount of coal used per kilowa.t
hour has been reduced from 2,47
pounds in 1922 to 1877 in 1926. AL
though 9 per cent more electricity
was produced last year than in 1925,
the increase in fuel consumption was
only 2 per cent.
The industry is tending toward the
creation of vast power system. based
on an interconnection of generating
and distributing plants. The use of
isolated power plants or of plants run
individually by the factories them
selves is slowly giving way to the use
of large centralized stations linked to-
gether and capable of borrowing from
one another when necessary.
Federal-American Flower Show.
The flower show of the Federal
American National Bank this year
will be open to the public as exhib-
itors, instead of being limited as in
the past to persons receiving seeds
from the bank. The entries will be
received beginning tomorrow morn
ing at $50. and judging will take
place tomorrow evening at o'clock.
The show will continue during both
Monday and Tuesday. The Federal
American this year distributed 10. 300
packages Of flower seeds. including
Zinnias, .larkspur, asters and mari
golds.
I. j. Roberts. secretary to the pres
ident Of Riggs National Bank, and
president of the Washington Chapter,
American Institute of Banking. has
left on his vacation for Brewer, Me.
Find Prehistoric Monster,