Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-26
UTILITIES REPORTS
FILED HERE TODAY
Three Statements on Novem.
Der Earnings Submitted
to Commission.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Three important reports-Potomac
Power, Washington Railway & Electric
and Chesapeake g. Potomac Telephone
were fled with the Public Utilities
Commission today
The Potomac Electric Power Co.
sprung a surprise by reporting a decline
In November earnings, compared with
the same month last year. The other
months of the present year have wit
messed substantial advances.
Of1cials of the company assigned the
reason for the unexpected drop in earn
tngs to the unusually fine weather in
November. year ago there were a
large number of dark, cloudy days,
which required electric lights almost
constantly in the downtown district.
This year almost every day in the month
was clear and sunny
Operating revenues for November
amounted to 1927 699.79, compared with
S924,643.79 in November. 1929, an in
crease of S3,056. Revenue deductions
-equired $457, 582.79, compared with
$399,463 a year ago, an increase OF
$58,119.79.
These operating deductions left net
operating revenues of $470,l17, against
$525,lso.7s last year, decrease OF
SIS, 063.79. After all the other usual
deductions the company reported net
income for November Of $432 ,045.92,
compared with $467,843.28 a year ago,
Q slump of $35.797.36.
For the first IL months of 1890 the
Potomac power company reported OPP
Grating revenues of $3.50 1880, COM
pared with S9,918,917.33 last year,
gain of $530,516.57. Revenue deduc--
tons totaled $4,8SO,265.99, against
S4,6O5. 06347 in the same period in
1929 This left net operating revenues
of $4,669, 1871, against $4,413,S53.86,
an increase Of $275,202.52.
Miscellaneous income totaled $685.
S27.44, in comparison with $202, 170, 81,
q gain of S66,34747. After all other
deductions the company reported net
income for the II months Of $4,l88,-
663.39, compared with $3,735, 1914, or
an increase so far this year of $453,-
o4s.65.
w. r. & E. November Net Up.
The Washington Railway & Electric
Co. reported a gain in November earn
ings. Operating revenues totaled $780,
201, against $479,124 last year; ex-
penses and taxes required S406, 924.53,
compared with s398.742.72 a year ago,
leaving an operating income of $59,-
27647, compared with $50, 1881 $50 in No
vember, 1929.
NOIl-ODSTdblklk
crease, being 1881 ,584.40, in comparison
with S355,043.78 in November. 1929.
Following the usual other deductions,
the company had net income for No
vember, 1880, of $685., 529. 81, compared
with $377, 529.15 in November, 1929, an
increase of $S,000.12.
For the first IL months of the present
year Railway g. Electric reported oper-
ating revenues Of S5,053, 777.32. COM
pared with $5,286, 556.32 a year ago.
Operating expenses took $4,315, 507.92,
against $4,42s,104. last year, leaving
an operating income of S735, 269 40,
against $3.50, Ash AT a year ago.
Incorporating income totaled 81 &c.,
094.71, against 81 ,579, 357.59, giving the
corporation a gross income for the
period of $2,417,364.11, compared with
$2,437 ,809O6 in 1929. After all neces-
sary deductions the company's net in
come for the IL months stands at
$1,796,ll9.1l, compared with sl,T70,-
O69.61 In the corresponding period last
year, or gain of S26, 029.50.
C. & p. Net Income Gains.
Balance net operating income of the
Chesapeake & Potomac Telephone Co.
for the IL months ending November 80
amounted to S1,183,183, which was an
increase Of 1885 over the same period
filed with the Public Utilities Commits
sion shows.
Balance net operating income for No
vember was $136,930 as compared with
SlO4,562 for the same month in 1929.
Telephone operating revenues for No
vember amounted to $744,534, with ex-
penses of $514,864, making telephone
operating income after deducting taxes
and uncollectible $173,622.
TelpnhOnR naratfn1 rcyayatYae for A.
IL months were 1892 ,403, with ex-
penSes during this period of SIS, 1872 1926.
After deducting taxes and uncollectible
the net operating income amounted to
$1,5e9,947. Taxes for the month of
November were $5l 1926, which was an
increase Of s7,325 over the same month
last year. Taxes for the IL months
increase Of $8,463 over a similar period
last year.
Capital expenditures for new plant
and equipment for the first ii months
OF the year amounted to $3,l63,3 84.
Gross retirements during this period
were $2,936, $50, making net additions
S220,6O4 Net additions to plant for
amounted to S38O,862.
AT the close Of business, November 30.
washington was served by l67 $3.50 tele-
phones. The net increase for November
was ,499 and for the IL months, 1928.
Telephone users during the month made
17,336,971 calls, which was an increase
OF 20 per cent over the number made
during the same month of last year.
Trading Quiet on Exchange.
Trading was dull on the Washington
STOCK Exchange today, being confined
TO Just four sales. In the bond division
a baby Washington Gas 6, series A, sold
at lol% and 81 900 Barber 81 Ross u
changed hands at "a.
On the stock side small lot of Wash
ngton Railway g. Electric preferred
came out at 977s and four shares of
woodward g. Lothrop preferred sold
without the present dividend at 1O6.
In the local financial district today
u was assumed that the reduction of
the rediscount rate in New York to 2
per cent viii prove a helpful factor in
strengthening the present situation. The
move caused favorable comment among
both bankers and brokers.
Z. w. Smith, vice president of Penn
sylvania Railroad in charge of opera
tons in the central region, with head
quarters in Pittsburgh, has resigned to
become co-receiver Of the Seaboard Air
Line Railway.