Evening star., 1928-04-26
v. R. & {. INCOME
IS DOWN SLIGHTLY
Pepco Shows Good Increase
In Earnings Over Last Year
in March Report.
BY EDWARD c. STONE.

was SA4.9S4.S3 IN comparison Wlln $40,
soS60 in the same month In 1927, &C
cor6ine to the monthly report filed TO
6av with the Public Utilities. Commits
sion The slight decline was due to
falling off in passenger revenues. tn
statement shows.
Operating revenues for the month
amounted To S502.T703l as againS
$Si&o7S44 I'm the corresponding monti
IN 1927 Operating expenses and taNe'
reached the sum of S40S, ,594,o5, com
rsred with S4i8.7l6SS last wear. lear
ing a net onersting income for tlll
month of $a4i7696 IN March. 1877
this figure was slightly higher, heins
sos 3S7 n6
The ccmuanv reports gross income
for the month less expenses ana taxes
ef $li2,92S. Sc. against $ll3,65lo2 IN tht
same month last year,
Three Months Income Higher.
t1r S..ec1 car comuauy's earnings
statement tor the first three months
of tnts wear shows a considerably larger
.ncoiIy tnan TOR the first quarter III
1927 Operating revenues for the period
amounted to STATS. .l0S.9S, comoSreo
with Sl.477.S45.S7 in 1927 Expenses
end taxes reached SlI92 .S54,09. COM
nared with 81 POT 930.23 a year ago
leaving a net operating income this year
of Spsp. .954 SO while this figure last
year was S269.4l564,
The company reported a non-oper-
stino income for the quarter of $S55,-
n2s o.. against 1921 .27s44 in 1921 THIS
left a gross income after deduction of
expenses and taxes. of $637. .283SS com-
pared with $500 5940s year ago.
After deduction Of all other cnaiges
the railway and electric COMPANY hao
net income of Sf42.25027. against the
lower figure last year Of S39o.2Io.2i /.
In this large gain in net, however. 1t
should be explained that is is largely
due to an increase over last year OF
$50. 600 in dividends received from the
Potomac Electric Power Co. during the
period of review
Pepco Reports Large Increase.
The Potomac Electric Power Co. also
fled It's March report with the UTILITIES
Commission today, the power concern
having a good increase in earnings
Gross earnings from operations
smounted to S79t. 1929. compared with
s7lS.06s.56 in March. 1927, or a gain
Of mere than $4,000.
Operating expenses were S3S9.l 90,
against S296,e33SS year ago. an in
crease of over S42, 0e0. Earnings from
operations in March amounted TO S4ol,-
972i8. compared with s4l6,Ss4.6s
year ago. or an increase of S35, ,077.5O.
Gross earnings. less expenses. reached
1852. .733 As. while the total for March,
1927. was s429. 1907. or gain In
Mslch OF this year of little over SS3.-
coo After deduction of all other
charges for the month the corporation
reported net income Of S306.3l4.l2,
sgainst S25a. .467 81, or an increase OF
S47.S46-73.
Strong First Quarter Showing.
For the first three months of the
present year the power company reports
gross earnings from operations of
s2.4i77349l. compared with S2,23l,-
1876. an increase of Sl86,553.05.
Operating expenses we're 1895. .039.i5.
against se05. .0002i, gain OF $90.038-94.
This leaves net income from opera
tions of z22.695.76. against Sl.326.-
ISL IS. an increase Of more than S96.000
After all other deductions the Potomac
Electric Power Co reported net income
for the first quarter of S95s.6T7.l4. Last
year the net for the same period was
Ss37. .4G0.07. or a tl1ree-month gain in
net this year Of $il8.477.07.
G. 4 o. Railroad Earnings Lower.
The Chesapeake e. Ohio Railway Co
reported March operations 10 the In
tegSiate Commerce Commission today:
Gross revenues for the month were
si0279. .167. a decrease Of si.5B4. .l65
over March of last YEAR operating ex-
penses were s7.290.6S7. a decrease of
s59s.067 as compared with March Of
last year: net railway operating income
is s2.5l7,673 a decrease OF SS05 1884
over March of last year The net in
come after ali charges for the month
OF March. 1928 was si.8e0.432, a de-
crease Of S7234i9 over March Of last
year The operating ratio Is 709 per
cent compared with 6T.3 per cent for
March of last year. or an increase of
5.s per cent
For the three months ended March
81 1923. the Chesapeake a. Ohio Rail-
way Co shows gross revenues of s29.-
S72.562 a decrease Of S3,639.980: OPP
Grating expenses were SCI SOB l32, a
decrease Of si.233.25l: net railway op-
Grating income was S6.727 $50. de-
crease Of s2I09 300 The net income
after all charges is S4g305. .745. de-
crease of 81 .93e 993 compared with the
corresponding period of 1927 The op-
Grating ratio for the period is 72.5 per
cent. an increase OF ~ per cent over
the same period year ago.
Peoples Drug Is Market Leader.
The newly listed Peoples Drug Stores
s per cent preferred stock led trading
On the Washington Stock Exchange TO-
dag. again selling 1t 10 The days
sales gere z65 shares. One OF the most
interesting sales on the board Was 10
s27 a4 ENFEgfS4xsfffSsz4 "a E4Stfuz4 Il E4HF-
trie common at $50. a drop Of 30 points
from the last sale. at 4s0. made many
weeks ago The bid price has been
coming down steadily for some time.
bus this was the FIRST transaction at
the lower figure.
y0day'S session was also made no
table Dy Washington Gas hanging up
its daily neW high record. this time
hitting 34i4 Every tiu1e the stock
makes new high marx there is fur
theF talk about the coming valuation
report upon which the Public Utilities
Commission has been a. work for 50
many months
Potomac Po2er So per cent pre-
fegFed solo a. l0S@ Capital Traction
~ l634 and Sand IL Gravel a. par.
Rational Union Fire IFIs. Co. s0lc st
- Ssad F1fenaeYs s FlTe Ins. at 20. The
AFSI&f4K III NeftlS M%e ~ tEs&tAt fGFth@'
Montgomery Again Heads Acacia.
8eesAn2 tor the FIRST time Ia the
Acacia Mutual Life Associations neY
F2a4ge office building at FIRST street and
Indiana avenue directors ~ the instl~
tuition yesterday elected officers for the
ensuing gear William Montgomery
who has been the directing head 0f
hcsel8 for B99Fe thau ~ wears. again
vas ctseaen president ) Harry Cum
nil2nsm se wee president. J. y, Yost,
secretary shd sctusry 3 Claude
Keeper. treasurer Charles X. Baldwin,
assistant treasurer. and DT. J. B.
Nichols medical director
The following directors. whose terms
recently expired have been reelected
Charts 4 Baldwin William x Cow
Ger % Wesf Virginia r. g Graham.
John y Meany Joaepil IL Mllans, VII
fMEs Il ia