Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-02-25

is the fact that the company plans to
retire the general and refunding
mortgage per cent 20-year series A
gold bonds, which were authorized in
August. 1921, and sold to the amount
of $2,200,000. At present there are
S1,60s,300 of these bonds outstanding,
which are very widely held in Wash
ington. They are callable on April l.
1t was predicted some time ago that
as per cent under prevailing money
market conditions Is a higher rate
than necessary. The remainder Of the
proceeds of the sale are to be used to
reimburse the company for extensions,
additions and improvements.
The Potomac Electric Power Co,
has one preferred stock issue now
outstanding to the amount of 50 ,OOO,.
600. This issue pays per cent. When
it was placed on the market it became
one of the most notable utility issues
OF the country on account of the sur
prlslng amount of the oversubscrip-
ton. Total requests for the stock
reached S13.000,00O. This stock is now
selling on the Washington Stock Elk.
change between 10S and 100.
c. & p. to Expend S3,7OO,OOO Here.
The directors of the Chesapeake &
Potomac Telephone Co. yesterday
voted to eXpend approximately $4,000.
600 for plant extensions and renewals
during 1927. The estimated net in.
crease in the number of telephones is
placed at 200. Reports for the year
1876 were also presented and showed
net addition of 9,279 telephones dur.
ing the year, an increase of 7.3 per
cent. In realizing this net gain 81.
SS9 telephones were connected and
l8,ll0 disconnected. In addition, H..
548 telephones were moved from one
location to another. The total mum.
per or telephones in service in the
District Of Columbia on December 81
1870, was 135,7S0. Gross additions for
the year involved new construction
approximating $3,725,O0O, with net
additions of $2,724,0OO.
Inc following officers were re-.
elected: A. E. Berry, president: Bur.
oette Stryker, vice president and gen.
erai manager: Philip o. Coffin, vice
president and general auditor; John
y. Moons, vice president: Samuel M,
Green, vice president; D. A. De Vane.
general counsel; D. S. Porter. score.
tary; John f. Slaven, assistant sec.
rotary; Thomas B. Clarkson. trea $.
urer, and F. w. S. Evans, assistant
treasurer. The board of directors is
composed of Albert E. Berry, Charles
): Bell, Walter S. Clifford, Edwin g,
Hranam, John Poole, B. Francis Saul
and Eugene S. Wilson.
Pepc0 January Report Out.
According to the monthly report
nied with the Public Utilities Commits.
sion, the Potomac Electric Power Co. s
gross earnings from operations in Jan.
uary were S7s5 ,144.79, compared with
1881 ,256.22 in the same month in 1926.
an increase of $47,90S.57. Operating
expenses totaled 1923, 1861, in com.
parlson with $290,S2O.06 in the same
inc month a year ago. a increase of $3a,.
5000. Net earnings Of the COMPANY
from operations in January amounted
to S461,964.1S, against $446 ,416.16 in
January, 1926, or a gain of S15.54S.O o.
Inc company's net income for the
month reached S295, 631.3 for January
OF this year. compared with $3.50 ,03I. 81
Tor the same period last year, which is
an increase of $12.599.74.
w. r. & e. Has Good Month.
The report of the Washington Rail.
way q Electric Co., also filed with the
Public Utilities Commission, shows
that January operating revenues
amounted to $500, 1888 in comparison
with $403. 065.79 in January, 1926. Oh.
Grating income for the same month
totaled $S9,S57.93, against $69,27O.37
for the same month year ago.
The railway cOmpany's net income
for the first month of the present year
is given as $40,629.SS, while in Janu.
airy, 1926, it was $26,25326. While
these figures show larger advances
than usual, it should be taken into
consideration that the totals include
the earnings Of the City & Suburban
and the Georgetown & Tennallytown
hnes, which were recently absorbed
by the larger company.
Washington Stock Extra Active.
Business was rushing on the Wash.
ington Stock Exchange today, and
prices were strong. Norfolk & Wash.
ington Steamboat Co. came out at 278,
Potomac Electric Power preferred
registered two small sales at 1881
Washington Gas Light changed hands
at 70. and Railway & Electric pre-
ferred opened at 81, and advanced to
91b and 91A.
Three shares of Federal American
National Bank stock sold at 319, a
new high on this move, and
shares of Union Trust Co. at 255, also
a new high mark for this stock. Fed.
eral-American Co. common came out
at IS. and Peoples Drug Stores pre-
ferred at 1881. rs shares of Capital
Traction moved at 1914 and 10 at
1878, the best quotations this issue
has reached on it's present advance.
Ten shares of Merchants Transfer &
Storage sold at 1904.
Bonds were also lively. Georgetown
Gas SIS registered par. Washington
Gas IS, series A, sold at 1041a, and
series b at 104B. Both these issues
were off fractionally on small trans.
actions. Railway & Electric as came
out at san and the session closed
with one sale of Departmental Bank
stock at 6A.
Other Financial Notes.
The Federal Reserve Board today
approved the establishment of a
branch Of the Federal Reserve Bank
of Richmond at Charlotte. N. G.. The
board also allowed the opening of a
branch of the Dallas Reserve Bank
at San Antonio.
Stockholders of the Virginia Elec.
trio 4 Power Co. have approved a
merger with the Norfolk Railway
Light Co.
President Ezra Gould Of the Wash.
ington Mechanics Savings Bank has
returned from a three-week visit at
Palm Beach, Fla. He was accom-
panied by Mrs. Gould and made the
trip by motor.
The Security Savings Club Of the
American Security & Trust Co. had a
fine meeting this week in Mount
Pleasant Hall, Earl o. Jonscher Civ.
ing an address on THE Work of a
Trust Department"