Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-02-27
PEPCO EARNINGS
GAIN IN JANUARY
Increase of $31,757 Shown
in Report Filed With UtiIi-
ties Commission.
BY EDWARD C. STONE.

ACCORDING 70 tine January financial
statement of the Potomac Electric
Power o., filed with the Public Utilities
Commission today, total net earnings
for the month amounted to $434, 207. 90
IN comparison with S402 45038 in jan
uary, 1929 or gain of $3l, 757.44.
Operating revenues for the month
were $s67.555.s0, compared with $685.
026.Te q year ago, an increase of S61, =
529.11. Revenues deductions totaled
S469,613.24. against s436,721.6s in Jam
uary, 1929, an increase of S32,8el.56.
The company reported an increase in
Incorporating revenues of S28, 637.55
Miscellaneous income for January
amounted to $14.752.2S, in comparison
with se,663.os last year, q gain of $6,-
O89. 20.
Gross corporate income stood at
s5i2,6s4.s4, against SAT- ,s68.19 in the
same month last year, a gain of $34-
726.75, while the usual other deductions
took $78.4sT.12, against $75,517s1 last
year. difference Of $2,969.31.
In connection with the substantial net
gain in income for the month of over
$Sl 600 1t should be stated that the
Potomac Power Co. has adopted a new
bookkeeping system which accounts for
$4,000 Of the increase.
w. r. q Z. Also Files Report.
The Washington Railway & Electric
Co. also filed its January report with
the Public Utilities Commission TODAY.
This shows operating revenues for the
month of $483, 06797 in comparison
with the slightly higher figure of $484,-
618.46 in January of last year.
Operating expenses and taxes required
S4o2, 4ss.47, compared with s412, cas- SO
year ago. Total operating income
amounted to $26,672.l5, against S2I. :.
1854 In the same period In 1929.
Gross revenues, less operating ex.
penses and taxes, totaled SLOT ,241 IS,
while this item last year stood at $685.
Sl8.le. After all other deductions the
corporation reported q net income for
January Of $4e,S71.55. compared with
q net income year ago of $28, 300.64.
AT the request Of the Public Utilities
Commission the company is charging
up the cost OF trackage replacements
under a different item. The change in
accounting methods went into effect for
the nrst time this month and meant an
increase in the company's net income
OF . little more than $4,000.
Washington Gas January Report.
The Washington Gas Light Co. fled
its January financial statement with
the utilities commission today, showing
falling on in new income compared
with January of last year. Operating
revenues amounted to $500 1874. go,
against $553, 043.S8 year ago. Operat-
ing expenses totaled $346, sol IS; against
$3.50, 1899 In 1929.
Taxes were lower this year, being
$26,449.9I, compared with SIS, 709 IS,
leaving total operating income, after
all deductions. of $127 ,322 "a, compared
with S154, 206.o1 last year. Non-operat-
ing income totaled 81, 1862, compared
with $1,906.72 in January, 1929.
The companys gross corporate In
come reached 8,98916, against $780,
lI2.7S a year ago: Total deductions
this year were $50 ,56607, compared
with $60,264.93 last year This left the
gas company with total net earnings for
the month of $50, 423. 0e, compared with
the higher figure of SOS, BAT 80 last year.
The drop in net income is partly due
to the fact that January was rather a
mild month, with the exception Of one
severe cold snap. There were also two
fewer billing days In the month under
review than in the corresponding month
a year ago. .
Georgetown Gas Report Filed.
The Georgetown Gas Light Co. re-
ports to the Public Utilities Commission
total net income in January Of 500
month in 1929.
Operating revenues were $104, POSTS,
compared with see. 725.99 a year ago.
The operating expenses were $74, 1885,,
In comparison with $73 ,97137 Taxes
were IS, 101.06, against $5.435.13.
The company's deductions from oper-
sting revenues amounted to SIS, 1894,
while this item year ago stood at $79,-
406.50, leaving an operating net income
Of $24.584.35. compared with SIC. 3l9.49.
The company's incorporating income
was practically the same, and the gross
income was reported as $25, 62l 90, in
comparison with $2l 1901.
B. g. o. Net Income Lower.
The Baltimore g. Ohio Railroad to-
day reported a net railway operating
income in January of $2,251 ,253, in
comparison with $2,715,61 in the same
month in 1929, a decrease Of S464, 1862.
Operating revenues for the month to-
tailed S17,420, 403. against $1s,767 ,270,
. decrease Of S1,246,S67. Operating
expenses were s13e33 707 compared
with $14.765.567 year ago, another
decrease Of 1881 $50.
The largest item in the lower earn
ings for the month was freight reve-
nues, which we're $14.621 500 in Janu-
airy Of this year, against SIS, 716.772 in
the corresponding period last year, q
decrease Of 81 ,095, 233. Passenger traf-
&c was also of for the month. this also
figuring in the moderate decline in net
earnings.
Trading on ID. C. Exchange.
Trading was fairly active on the
Washington Stock Exchange today, in
terest being about equally divided be-
tween stocks and bonds. There were
no marked price changes during the ses-
sion.
Financial District Notes.
George o. Schweinhaut, recently
elected assistant treasurer Of the WASH
ington Loan & Trust Co., has been de-
tailed to duty at the West End once of
the company beginning March /. He
will be associated with Charles H Do
ing, vice president In charge, and James
NJ Mason, assistant treasurer.
Ennalls Waggaman, president of
Waggaman, Brawner & Co., Inc, In
veStment bankers, who returned recent
ly from a trip to Canada, is in Florida
for q week. John F. Brawner and F. B.
Pryor of the same firm spent several
days in Norfolk, Va, recently. Imme-
diately upon their return to Washing
ton. Mr.. Pryor left for North Carolina
on business trip, where he will re-
main the balance of this week.