Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-26
v. R. & T. GAINS
IN SEPTEMBER NET
Potomac Power Also Reports
Increase in Net Earnings
During Same Month.
BY EDWARD c. STONE.

BY EDWARD &. STONE.
According to the monthly statemer
filed today by the Washington Railwa
g. Electric Co. with the Public Utilitie
Commission net income for Septembe
was Kb,12934 larger than in the sam
month in 1928, while the railway com
pany Shows a gain of sos, sol SO for tn
first nine months of the present yea
in comparison with the corresponding
period year ago. The report for tn
first three quarters of 1929 indicate
that the corporation will wind up tn
year with larger earnings than were re
corded in 1928.
The September report shows that op
Grating revenues amounted to SAT-
151.47, compared with $45l 003.56 ii
the same month last year. Operating
expenses and taxes required 1886, 754.17
against the lower figure last year o.
1882 ,277.6S year ago.
Total income from operations reached
the sum of $27,3l2.41, compared with
the lower total last September of $780,
201.60. Addition of the incorporating
income and The usual deductions not as
signable to operations left the company
with a net income for the month oil
S28,870.2l, in comparison with $685.
740.87 in September, 1928.
Nine Months Net Earnings.
For the first nine months of the pres
ent year operating revenues of the
Washington Railway & Electric Co.
amounted to $4,312,2l113, compared
with $4,286, 701.55 in the same period
year ago.
Operating expenses and taxes totaled
1882, 43416, against $3,543,3 1867 a year
ago. Deduction of operating expenses
and taxes left an operating income OF
$3.50. 1851, compared with STAB 1884 SIS
in the first nine months of 1928.
The corporations incorporating in
come this year to october l was ST.
200,018.55 in comparison with the lower
figure last year of Sl,069.7 3l OF. After
all the usual deductions the Railway &
of $1,337.824.76. This compares with a
net of $1,228,323.23 at the end of the
third quarter year ago
Potomac Power Reports Gains.
The September report of the Potomac
Electric Power Co. has also been filed
with the Public Utilities Commission,
this statement also showing a gain in
earnings during the month and a
marked improvement in net earnings
for the first nine months of 1929.
Gross earnings from operations in
September amounted to $773.802 SO,
against S757.95798 a year ago in the
same month, gain of $15,84495.
Operating expenses were lower in Sep
TENDER this year, being $327.768.35,
compared with 1928, 463.10, or a saving
of $694.75.
The corporation reported net earn
ings from operations OF $446,034.58 in
comparison with S429, 49l.8 in Septem-
Miscellaneous income totaled $23,220.-
96 against $17,968.39 a year ago, an in
crease of $5,25257.
The corporation reported a total net
income for September of 1907, 639 so in
comparison with $298,69l09 in Sep
TENDER. 1923, an increase for the month
under review of $8,948.90.
Fine Nine Months Showing.
The electric power company reported
gross earnings from operations amount
ing to $7,247, 606.37, compared with So
1868, 386.40 in the same period a year
ago. This is a gain of S384,219.97.
Operating expenses required $685.
05260, against $2,945 ,845.03. an increase
in operating costs of $87,207.57. Net
income from operations amounted to
$4,214553.77, IN comparison with So
"A in 1928, an improvement in
operating income of S297,0l2.40.
Gross income less operating ex-
penses reached the sum of $4,364 ,973. 10,
while this figure last year was $4,039,-
1921, a gain in gross so far in 1929
of $325,320.52. After all deductions
the corporation had total net income
$2,666,969.76, gain in the first three
quarters of 1929 of $3.50, 463.40.
Both the above reports indicate that
while there are reports of business re-
cessionS in some sections of the country,
the transportation, light and power
business in Washington is holding up
splendidly.
Board Elects NOrment Chairman.
At its regular monthly meeting held
yesterday, the board of directors of the
Terminal Refrigerating e. Warehousing
Corporation unanimously elected Clar-
ence F. Norment. ST., chairman of the
board, to succeed the late Charles J..
Bell.
The board paid high tribute to the
memory of Mr.. Bell and his construc-
company, which was expressed in a
resolution to be engrossed and sent to
his family
Building Association Elects.
Election of officers was held last
night by the District Building & Loan
Association Council at its annual meet
ing in the Oriental Building & Loan
Association offices, Sixth and F streets
northwest.
Officers chosen are: Edward c. BaltZ.
president; Chopin B. Bauman, vice
president; William S. Quinter, secretary:
William Heuland, treasurer, and c.
Clinton James, J. Lewis Sherwood.
James F. Shea, John B. Geier. George
NJ. Emmerich and Carl J. Bergman
members Of the executive committee.
Check Payments Above 1928.
Commercial transactions during the
week ended October 10. as indicated
by volume of checks to banks for pay
ment, were smaller than in the pre-
ceding week, but larger than in the
corresponding period of 1928, the
weekly business summary OF the De-
partment of Commerce states.
Movement of commodities by rail
through primary channels, as indicated
by freight car loadings covering the lat
est reported week, showed slight de-
cline from the same period of last year
General index of wholesale prices
showed further fractional recession
from the week prior and was lower also
than in the corresponding period OF
1923. Iron and steel prices were lower
than in the previous week, but higher
than a year ago, and cotton prize;
showed declines from both periods.
Auditors Section Has Meeting.
The auditors section of the Distric
Bankers Association held a most in
teresting dinner meeting this week a
the National Press Club. Discussion!
from the last session were continued
one subject being the better protection
of bank tellers in their work. Raymond
@. Marx. auditor of the Riggs Nationa
Bank, presided.