Evening star., 1927-04-27
EARNINGS Of PEPCO.
INCREASE IN MARCH.
Capital Traction Income
SmaIIer--W. R. & E. Co.
Net Shows Big Gain.
BY EDWARD G. STONE.

BY EDWARD C. STONE.
Net income Of the Potomac Electric
Power Co. for the month of March
amounted to S258,46734, compared
with $214,802,20 for the same month
in 1926, this substantial gain being re-
vealed in the report filed today with
the Public Utilities Commission. For
the first three months of the present
year the total net income reached
$S37 7,40007, against $772,004.99 in
March, 1926
Gross earnings from operations IN
March, 1927, were S713, 3,86S.56, in com
parison with $3.50 1866 for the same
month last year. Operating expenses
We're 6,973.S8, against $3.50, ,5l4.2l IN
1926, leaving net earnings from opera
tions Of $416, ,894,6S, which figures are
far ahead of the March total last year
Of S364,S22.45. While all these com
parisons show sharp gains, the net
income for March was not up to that
Of February, 1927, when the power
company's net reached $283,3Ol.43.
Capital Traction Report Also Out.
The March report Of the Capital
Traction Co. has also been filed with
the commission. The traction com
pany's net income totaled $70,05h96
compared with S78,367O3 IN March,
1926: a decline of over $4,000. Total
operating revenues for the month were
1891, ,608.41 in comparison with S40l,-
874.08 in March a year ago. Total
operating expenses were about the
same being 1868 ,50932 last March
against 1868 ,034.02 in March, 1927.
After deduction of all operating eX-
penses, the ,company's total operating
income in March of this year was S94,-
5l105 against $102, ,529.06 III 1926.
Total operating revenues for the
first three months. of the present year
amounted to $1134, ,065.61 in comparl-
son with 81 ,150, ,543.98 for the first
quarter last year. Operating expenses
were $782, ,600.39 compared with $780,
527.31 in. 1926, leaving net operating
income this year of $256,987.S1 against
the first quarter net operating income
last year CT $3.50, ,987.36.
After deduction of expenses and tax
es for the first three months of 1927
the company reports a net income of
,329,09, the similar figure last year
being $182,841.98.
w. n. & Il. Report Also Filed.
Another important public utilities
report was also filed with the COM
mission today, that of the Washington
Railway Il Electric Co. This showed
operating revenues for March of S614,-
01744, against $418, ,961.S2 in March,
1926. Operating expenses and taxes
totaled S418,716.38, compared with
$344, 1876 last year. The usual de-
ductions left net operating income
for the month of $95, ,357 .06, last years
total being $T4,204.17.
The railway and electric company's
net income for the month was $48,-
59860, against a net income in March,
1926. Of $30,785.38.
While all these figures reveal very
substantial gains it should be borne
in mind that they include the earn
ings of the Georgetown & Tennally
town and the City & Suburban lines,
which have been absorbed by the
w. r. & Il. Their earnings We're re-
ported separately last year.
Pennsy and Is. & o. Earnings.
The Baltimore & Ohio's net opera
ting income for March advanced to
$4,205 .065 from $3,097,240 in March
last year, and the first quarter to
$9,306,S from S8,1S5,7 1856 a year ago.
March, gross gained, $1,435,914
March net operating income of the
Pennsylvania Railroad rose to SILL
500,880 from S7,226,22 in March, last
year, and for the first quarter to $685.
363,362 from SIT ,583,156 Directors
were reelected.
First quarter surplus of the Norfolk
e Western was S6,691 ,698, equal after
a per cent preferred dividends, to
$4.G2 a share on the common. against
81 1862 ,769 or $5.17 a share in the first
quarter of 1926. Directors declared a
quarterly dividend of 50 a share on
the common, the rate established three
months ago. 1t was payable, June is.
Bank Stock Again Prominent.
American Security & Trust Co. stock
sold on the local exchange today at
3S81a, one share of Second National
came out at 232 Union Trust held at
$50, District National registered 240
and 20 shares of Seventh Street Saw
ings appeared on the board at 256A,
Washington Gas Light SIS. Series i,
sold at 105 and Potomac Electric
Power 6s brought 1854.
New Insurance Move Planned.
At dinner meeting of the District
Life Underwriters Association next
Tuesday at AS at the Raleigh, Ed
ward A. Woods of Pittsburgh win give
an address on Financing PhNan-
thropic Work" Many prominent
Washington people who are interested
in financing charitable religious and
educational work have accepted in.
Vitati0nS to attend.
The aim of the meeting is educa-
tional only. Short talks viii follow
the chief speaker, who is considered
a national expert in this line. The
meeting will be different from any
thing yet undertaken by the local asso-
citation and great interest is already
being manifested in ii.
Other Financial Notes.
After the electoon of delegates to
the Detroit convention and nomina-
tion of officers for next year there
will be two classes at the institute
tomorrow evening. The class in
rs will the students in banking funda-
mentals.
w. w. Atterbury, Charles Day and
Percival Roberts, jr, We're reelected
directors of the Pennsylvania Rail-
roada Co. at yesterdays meeting in
Philadelphia.
The question of earlier closing of
Washington banks during the Sum
mer months was left for further dis
cussion at the special meeting held
late yesterday. Much more interest
in the move is being displayed than
in previous years.
William Montgomery, head of the
Acacia Life Insurance Co. was paid
a glowing tribute at the Willard last