Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-25

son with $42l ,ol2.oS
last year.
Deduction of ex-
penses left an Malcolm Gibbs.
operating income
of $84,238.16, compared with $3.50! .5l
year ago. Gross revenues, les
operating expenses and taxes, totalec
$l05,835.02, against l22052.65 in the
same period in 1929.
For the FIRST three months of 1896
operating revenues totaled 81 1893, 4l4.a3
In comparison with 81 ,458, 1899 ir
March, 1929 Operating expenses ano
taxes totaled $1,147, 1892, against
$1,206,o50.25 last year.
Total operating income for the first
quarter was $250,026.9l, compared with
$25211e64 a year ago while the cor
poration's incorporating income totaled
42856014 In comparison with $685.
$3.50 in the corresponding month last
year. After all deductions the net in
come for the three months reached
S5O3. 672.31, against $452,53 in 1929.
The large falling off in net income
in March may be ascribed to two chief
reasons. Easter came earlier a year
aro and inauguration brought hosts of
visitors to the Capital. The 35-cent
taxi service may also be reflected in
the March figures.
PeDCO increase rs Lower.
The Potomac Electric Power Co. filed
its March report with the Public Utili-
ties Commission today, showing a net
income of $376,4S6.23 compared with
&370,e9S.47 year ago, an increase OF
only $5,437.76.
Operating revenues amounted TO
SS56, 205.85 against 1856, 436.81 in March
1929, a gain of Sl,796.04. Revenues
deductions took $432, 222.90 compared
with $421 ,e26.15 a year ago, an increase
of over $4,000. Net operating reve-
nues after all deductions were $425,-
es2. 95 against S434,5I0.66 last year, a
decline of $8,527.7l.
Comparative figures show that the
gain in net earnings in March was the
smallest which the company has re-
ported for many years. The chief ex-
PLANTATION is that many fewer meters
were read in March this year than in
March a year ago. 1t is also notable
that there was much more sunshine in
cludy weather always calling for q
much larger use of electricity.
The corporations figures for the first
three months of the year show net
income of $1,269, 129.75,. compared with
81 ,116,26211 in the first quarter of 1923
q gain of $152,867.64. Operating reve-
nues amounted to $2,750, 727.06, COM
pared with $2,57l,256.51 last year, an
increase of $l79.470.55.
Net operating revenues totaled 81 ,428,-
257.47, against $f,31l,172.05 a year ego
an increase Of $117,085.42. After the
usual other deductions the power COM
pany had a gross corporate income OF
81 ,479, 246.67 compared with $l,343,-
594.77 IN 1929, or a gain Of $135,651 go
Peoples Drug on big Board"
NJ ~
Peoples Drug Stores, Inc, announces
that both the preferred and common
stock issues have been admitted to trad
ing on the New York Stock Exchange
The listing includes $4,000 shares of 6H
per cent cumulative convertible pre-
ferred stock, 500 par value, and 28,556
shares of the common stock without par
value
The preferred stock has been listed
on the Washington Stock Exchange ever
since 1t was issued. The last sale on
the local exchange was made at 108lA
The common has been on the New FORK
Curb. The dividend Is 81 a year. In
the opening trading on the New York
Exchange yesterday 500 shares of the
common changed, the stock listing at
90. The preferred was not out.
Additional Steamboat Stock.
The directors of the Norfolk g. Wash
ington Steamboat Co. have passed a
resolution offering 1000 shares of addi-
tional stock to the shareholders. Stock
holders Of record at close of business
May 20, $780, are entitled to subscribe
In the proportion of one share for each
nine shares then held as shown by the
books of the company. Warrants will
be mailed to stockholders on June IA,
1880, and subscriptions must be received
before the close of business August s.
1880. A notice Of the foregoing action
is being prepared and will be forwarded
TO stockholders in a few days.
TOday's Exchange Session.
Washington Stock Exchange trading
was confined to small lots again today
Capital Traction registered TN, Wash
tngton Railway g. Electric preferred, 9s
and 98k; Columbia Sand g. Gravel, 95
and District of Columbia Paper pre-
ferred, As.
Norfolk & Washington Steamboat
stock sold at 270, Mergenthaler at l0T
and Security Storage at lis, while LOT
shares Of Real Estate Mortgage & Guar
anty preferred moved at T. Bonds were
neglected, the only important sale being
$1,000 Washington Railway & Electric
<s at S7A.
The Washington Stock Exchange
board of governors today voted to list
the Norfolk g. Washington Steamboat
Co. rights in connection with the adj
ditional issue of 1000 shares to bt
offered stockholders. The trading unit
will be 10 rights, and they will go or
the board tomorrow. The delivery date
will be set by the exchange governor,
later when the stock is issued Secre.
tary Gockeler announced.
Financial District Notes.
j. J. Mclean, resident manager O
Fenner and Beane, members of the New
York Stock Exchange, is expected bacl
today from a short business trip II
New York.
w. w. Spaid of W. B. Hibbs g. Co
last night attended the annual dime
Of the Association of New York STOCK
Exchange Firms, of which he is vic,
president
The Pennsylvania Railroad Co. de
clared regular quarterly dividend of 81
payable May 81 to stock Of recort
May /.
Subsidiary Company Formed.
NEW YORK, April Is P).-Th
Tal-sIaI-s potroIottyNo ~ and the nLY1a