Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-27
PEPCO NET income
HIGHER IN AUGUST
Gain of $50, 265 Over Same
Month Last Year Shown
in Report.
By EDWARD c. stone.

BY EDWARD C. STONE.
Total net income Of the Potomac Elec-
trio Power Co. for August amounted to
1926, 603.74. in comparison with $751;
$3.50 in August 1929, or gain of
statement just filed with the Public
Utilities Commission.
The power company's operating rev.
enues showed substantial increase,
being 5000 ,5i2.35, against $741 ,022.03 in
the corresponding month a year ago. or
an increase of sos, 1906. Revenue de-
auctions required $443, 4S2.78, compared
with $412,871.9l a year ago, or added
expenses of $30,610.86.
The corporation reported net rev.
enues from operations amounting to
$366, 029.61, an increase during the
month Of $37, 879 so, while the company
had incorporating income in August
totaling $26, 408.S4, compared with SAL
62252 in the same month a year ago.
Q gain of $4.S86.32. After all other de-
auctions the above handsome gain of
almost $50, 900 In net was reported.
Potomac Power also filed the state
ment for the first eight months of the
present year, further heavy income in
creases being revealed. Operating rev.
enues totaled $6,8SS, 064.91, in COM
Rarison with $6.473. 803.44 in the corre-
1ponding period year ago, an increase
or $414,261.47.
Revenue deductions took $3.513. s27. as.
against $S,353, 149.03 a year ago, or an
increase of $160,778.83. Net operating
revenues UP to September l amounted
70 $3,374, 137.05, compared with $3,12O.-
654.4i IN 1929, an increase this year of
e253, 482.64.
The corporation had q incorporating
income during the period of $3.50. 984. 2s
In comparison with $l27,199 last year,
another increase amounting to $53.-
1850. This brought the company's
total gross revenues up to 1856, 12I "a,
against $3,247, 1884 in the first eirht
months OF 1929, or q gain of 1907, 267 90.
The usual deductions from gross re-
CURED $541, 269.33, while last year the
larger figure of $629, O6024 was neces-
sary, difference of $S7,770.s1. This
left total net earnings for the eight
months OF 1880 amounting to $3.Oi3.-
e32.0l, against $2,6ls, 1877 a year ago.
Or gain Of 1895, 03S.S4.
d. o o. Earnings Show Decrease.
The Baltimore & Ohio Railroad today
reported net earnings for August Of
s4.473,226, compared with $5.3I5.S84 in
August. 1929, o decrease of $S42. $50
during the month.
The company reported O falling of
Ia freight revenues for the month of
$3,419,427. Passenger revenues were
on $424,316 compared with the same
month . year ago, while the income
rom express and other transportation
sources was also lighter.
Figures for the first eight months of
1880 showed net railway operating In
come Of $25,S45.160 against So, 985 ST.
In the corresponding period last wear.
Or decline of $7,1405l1 up to Sep
TENDER 1. The largest factor in this
was. OF course, the drop In freight
revenues. In giving out the August
nsures, the company said that the fol-
lowing explanation should have acc
ccmpanied the July statement:
The Baltimore g. Ohio took up in
July, 1929, the back mail pay amount
ing to 81, 331 ,024, accruing in previous
periods, as authorized by the Inter
state Commerce Commission.
AT $685., 079 the net railway operat-
ing income OF the company for July,
1880, shows q decrease of 81 ,529, S68, Of
which 1881 ,s24 is accounted for by the
back mail pay. included in July, 1929.
figures, leaving $198,044, as rejecting
the current decrease in operating in
come, or SIS per cent instead of 1884
Per cent In the same way, the de-
crease for the seven months, stated rs
s6,297 ,S53, after deducting the abnormal
credit In July, 1929. becomes decrease
cent"
GIimpses Of Wan Street.
One of the latest financial books is
entitled Introduction to Wall Street."
written by John w. Fowler, jr., and
published by Harper g. Bros. The book
gives an unusually interesting picture
OF the technique Of investing and spec
ulating, presenting q simple and prac-
teal explanation Of the machinery of
Wall Street. The writer takes up the
kinds Of securities, how they are dealt
in, the judging Of stock values, trend
of the market and the meaning Of
money market quotations.
A particularly interesting chapter
explains how new issues are put out
tells ways to measure risks in invest
ing. Call money, brokers' loans, the
Federal Reserve System and the max
ing Of interest rates come in for extend
ed discussions. The book contains a
host Of facts and Illustrations which
win tend to make beginner cautious
and keep him from plunging into stock
trading with too much vim for his own
good.
Heard In Financial District.
James G. Dulin and William w. Keck,
officers IN the American Security q
Trust Co, who were in New York several
days this week In connection with the
banks new construction project, re-
turned home yesterday by airplane,
reporting . delightful trip.
Business activity during the week
ended September 40, as measured by
bank debts, outside Of New York City
revealed an advance Of Is per cent over
the week prior, but declined from the
comparative week in 1929, the Depart
nent of Commerce summary of the
business situation revealed yesterday.
Bank clearings In Washington for the
week ended September IS totaled 500
$4,000. against SIS $500 900 in the
previous week. This was a decrease of
81 per cent from the corresponding
week q year ago. Clearings for the
country as q whole were on 81 per cent
compared with last year.
G. d. Ratcliffe, vice president and
assistant treasurer of the Munsey Trust
Co., will be back at his desk Monday
after his vacation at Atlantic City.
The directors OF the McCrory Stores
Corporation have declared the regular
quarterly dividend Of $3.50 per share on
the 8 per cent preferred stock, payable
November / on stock Of record Octo-
Der IS.
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