Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-11-26
|W.R. B f. HAS GAIN
So FAR THIS YEAR
October Net Is Ahead of 1926
Month-HoIiday Credit
Now in Demand.
BY EDWARD G.. STONE.

! w.
BY EDWARD G. STONE.
According to the report of the
| Washington Railway d Electric Co,
| lust filed with the Public Utilities
| Commission. for the month Of Octo-
| Der. the company,s net corporate IN
| come was $45.057.45, or an increase
| of $2,517.25 over the same period in
| 1926. The october figures for 1926
| appear in the report as $22,6lIo4,
| but to this should be added the sum
of $19.922.G6. the total net income or
the Georgetown and Tenleytown and
| the City and Suburban lines, which
| in October. 1926. were being oper-
ated independently.
Operating revenues for the mohth
| tntaied $497347 81. expenses and taxes
amounted to $405,8485O. leaving
| total net operating income of 800
| 1871. In the previous month oper-
| atlnc revenues totaled $45S007.91.
| September operating expenses and
| taxes reached the sum of $3S6,2IZ.ll,
| leaving net operating income OF
| $7I.73580. The other necessary deduc-
| tons cut this figure to $26,4o2.66. as
! the company's net corporate return
| FOR the month.
| ne street dtINdS Company - -"
Der report includes summary of the
| figures for the first 10 months of this
! year. which gives an excellent line on
| the probable earnings for 1927. Total
| gross revenues from operations Tor
| the first 10 months of 1927 reached the
sum of 81. $50 921.24. rs compared with
| S., 1856, S56S7 in 1926. The company
paid ont $4,04G .207.22 in expenses and
! taxes during the period against $3.50
| 50457 last year.
| Ten Months Net Gain Shown.
Deduction of expenses and taxes left
| a total net operating income for the
| 10 months of $S13,714.02, in comparison
with $697.35230 during the same
period in 1926 After making all the
other usual subtractions the company
had a total net corporate income for
tho 10 months of $1.159, S14.39, COM
pared with 1899. 420.51 in 1926. Here
again the comparison is not fair. as
the 1926 figure did not include the net
| income of the above mentioned sub
| urban lines.
| From the indicated gain of S170,393SS
| should be subtracted the combined net
| income of the City and Suburban and
Georgetown and Tenleytown roads,
| as it was filed separately last
year. The total of 31.7SS44 brings
| the gain down to $138.6O5.44 as
| the 10 months net return. This
| figure Is also somewhat mislead-
| ing unless it is borne in mind that no.
where near all of this sum is from
operations, about 100000 representing
dividends paid to the Washington Rail-
way and Electric Co. by the Potomac
Electric Power Co.
Attend Bond Club Luncheon.
Among those present at yesterdays
Washington Bond Club luncheon at
the Lafayette We're WinSlow B. Van
Devanter, club president, of the Guar
anty Co: Charles Carroll Morgan, man.
ager of the bond department of G. M
P Murphy & Co; Kenneth S. Wales,
A. H. Tirrell and G. r. Stark, jr.. of
Bonbright & Co.; Sidney r. Thomas.
Gillett & Co.; w. w. Mackall, jr., Stein
Bros. & Boyce: c. G.. Parker. jr.. ]. A.
w. Iglehart & Co.; Franklin II. Ellis,
f. II. Rollins & Sons; c. II. Henderson,
Henderson. Winder & Co.; f. M. Hall.
Graham, Parsons & Co.; c. +. Childs
and j. c. Corkran, G. +. Childs & Co;
E. D. Flather. Baker, Watts & Co:
Eugene E. Thompson and 3. Ogle
Harper, Crane, Paris & Co.; w. A.
Quigley, It. B. Keech & Co.; Frank
p. Morse and A. b. Dickinson. J. and
w. Seligman & Co; c. r. KurtZ,
Stroud. kurtZ & Co.: Y. E. Booker of
Y. f. Booker & Co.; Gen. F. w. Coe.
Brooke Stokes & Co.; Arthur Foraker
and F. S. Lee, Eastman, Dillon & CO.;
L. M. Proctor and Marshall 0. Elk
ncios. Alexander Brown & Sons. |
Associate members: Corcoran Thorn, |
Robert V. Fleming, Joshua Evans, jr.; |
William d. Hoover. John Poole, George |
w. White. John B. Larner, Charles j. |
Bell. E. p. Wilson. f. J. Emerich and |
William Montgomery.
Holiday Credit Demands Appear.
Some increase in demand for Fed
eral Reserve credit was indicated by
the Richmond Banks statement yes
terday. This showed a $2,268,000 in |
crease in volume of rediscounts. gain
of $2,92S, 900 in amount of bills bought |
in the open market and also a sub |
stantial addition to total Federal re-
serve notes in actual circulation. The |
Increase in currency requirements in.
Dictated that holiday demands already |
had made an appearance. Acceptances
bought in the open market reached a
new top at S50,042 900.
These changes brought a decline in
the Richmond Reserve ratio to 50.61 |
per cent, from $3.50 per cent a week |
previously. The ratio for the entire |
system was 71.9 per cent.
Last Brandegee Stock Is Sold.
C. G. Sloan & Co., auctioneers, re.
port the sale of the last stock held by
the late Senator Frank B. Brandegee. |
The shares were originally said to be
nominally worth over $4,000 In
eight blocks the stock sold as follows: |
American Type Bar and Machine Co,
204 shares. 50; a gold debenture bond
of the same firm, whose face value |
read $500. 50; Consolidated Engine |
Stop Co. 10 shares, $1.50; Chapple |
Publishing Co., five shares. $3.50: Osh. |
kosh Gold Mines. Ltd, 10000 shares.
Sd so: Mystic Electric Co., three shares, |
50. Hartford and Springfield Railroad |
Co, ~ shares, Sc, and Copper Creek |
Mining Co. 40 shares. $40.
Pennsy Dividends Coming Soon.
The Pennsylvania Railroad is re-
pairing to send out dividend checks to |
cover the November 80 disbursement |
to 1905 stockholders. This will be |
the one hundred and eighty-first pay
ment. the first one having been made |
in l847. The checks go to every State |
in the Union and to many foreign |
countries.
The present average holding is 20 |
shares and the largest holding by any
one stakeholder. individual or corpo.
ration. is less than one-half Of l per
cent. of the outstanding stock of the |
company. The dividend checks will |
require 35 mail sacks and $4,000 in |
postage.
Business Is Expanding
Measured by the value of check |
payments, business during the week
ended November 10 was larger than |
N either the previous week or the |
corresponding week last year. accord
ing to the Department of Commerce.
Wholesale prices continued to aver