Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-07-28
EARNINGS OF PEPCO
SHOW LARGE GAIN
W. R. & E. Co. Net Income
Has Increase in Comparison
With First Half of 1926.
BY EDWARD c. STONE.

BH EDWARD 4. SIONE.
The Potomac Electric Power Co. to-
day reported to the Public Utilities
Commission an increase of $163,2IS9S
in net income for the first six months
of the present year, in comparison
with the similar period year ago.
The company's net income for the first
half &C 1927 reached S1.519,170. while
in 1926 the figure totaled 81 ,355 ,951.02.
Gross earnings of the company for
the six months amounted to $4.2S5..
05412, against S3,969 .174.63. for the
first six months of 1926, leaving a gain
I'm earnings during the present year Of
$315,S79.49. Operating expenses for
the first half of 1927 were 81, S42, 800
AZ. compared with $3.50 ,O03.44. being
heavier this year by 1852 .S26.9S.
The month of June was another good
month in the company's earnings.
Gross earnings from operations
amounted to $663.370.72. while in June,
1926, they were $615 ,536.07. leaving an
increase i'll June this year of
SAT, S34.65.
Net earnings from operations we're
reported to the commission as S349.-
1852, in comparison with 1890, 394.63
in 1926. here again an increase being
shown of $19.200.69. After all dc.
ductions for taxes and operating eX.
penses, the company had a net income
for June of $215,994.54. against s1SS.-
1898 last year, or a gain of $32 ,599.21.
w. II. & f. Earnings Improve.
Filing of the June statement of the
Washington Railway & Electric co.
with the Public Utilities Commission
today made possible the summary of
earnings for the first half year. The
June earnings fell off in comparison
with last year, but the company's net
income for the six months is we'll
ahead of the same period in 1926.
Operating revenues in June totaled
$492 ,03S.26, against $414, 1885. 80 a year
ago. Total operating expenses in June
this year amounted to SAIL ,2S0.11, com.
pared with 1884,, 1854 during the same
month i'm 1926.
After deduction of taxes and other
expenditures the company's total net
income for June of this year amount.
ed to $34, 220.06. while last year it was
$36 .114.09.
For the first half year operating
revenues reached $2.9SS, 5S4. 80, against
S2,4o2, 1926 in 1926. Operating ex.
penses and taxes were S2,463 .449.OS
this year. against S2,015, 742.04 a year
ago, leaving a total operating income
this year Of $525,GS5.21 in comparison
with S436,4972a
Expenses and taxes for the first
half of 1927 amounted to S1172.632.3S.
against $1,013.440.9S for the first six
months of 1926. After all deductions
the company reported a six months
total net income of S7S4,215.61, while
for the corresponding period last year
it amounted to S65S.255.S7, or a gain
so far in 1927 of $125.959.74. The cam
parative gain is not quite as strik-
ing as it looks. however. because the
net earnings of the Georgetown &
Tenleytown and the City & Suburban
lines are included in this years fig.
ures, while last year they were re.
ported separately.
Railway Common Dividend Raised.
William F. Ham. president of the
Washington Railway & Electric Co,
announced today that the board of
directors at their meeting yesterday
voted to increase the dividend on the
common stock from to per cent.
The new quarterly dividend of
S1.75 per share in place of SLIPS per
share will be paid on this stock on
September 1 to stockholders of rec
ord on August IS. The directors en-
pressed the opinion that the COM
pany's large earnings so far this year
JuStlned the higher rate.
The common stock sold on the
local exchange yesterday at 259, the
high mark of the year.
Bank Elects New Director.
The board of directors of the Park
Savings Bank has elected Z. S.
Kennedy of Kennedy Brothers Co., a
construction concern, a member of
the board. Mr.. Kennedy takes the
loo liz Lea L., l.
death of his brother, w. NJ. Kennedy.
Mr.. Kennedy is widely known in the
building industry in Washington.
Local Stocks Again Strong.
Just 102 shares of the new Potomac
Electric Power So per cent stock
changed hands on the local board to-
day, 80 shares selling at 102 and the
rest at 101 q. Lanston sold at 99ls
and advanced to 99A, but closed at
80. Capital Traction sold at los. Bar
Der & Ross common at 81, National
Mortgage & Investment preferred at
rs and Mergenthaler at liz.
Merchants Transfer & Storage pre-
ferred came out at 101, and Security
Savings & Commercial Bank stock
again sold at 405. Bonds maintained
their recent price levels on a moderate
turnover.
Railroad Earnings Reported.
Net operating income of the Penn
sylvania Railroad for the half year
rose to $51, 165 ,065 from $43, 701 ,010 in
the first half of 1926.
Seaboard Air Line Railway earned
only SO cents a share on the common
stock in the half year, compared with
S2.42 a share in the first half of 1926.
In and Out of the Local Banks.
w. w. Spaid of w. 3. Hibbs & Co.
has returned from several days outing
at Atlantic City.
President Robert V. Fleming of the
Riggs National Bank is spending
few days with Charles C.. Glover at
his Summer home at Nonquit. Mass.
Vice President Austin G. Waller of
the International Bank is general
chairman of the Kiwanis Club COM
mittee making arrangements for the
entertainment Of Iowa Kiwanians here >
today and tomorrow.
Assistant Treasurer p. J. Mcmahon
of the Munsey Trust Co. will leave
Washington Saturday for vacation
trip to Virginia Beach.
Charles r. Grant, treasurer Of the
Washington Loan & Trust Co.. and
John II. Clapp, a director in the Wash