Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-09-24
v. R. & I. REVENUES
IN SHARP DECLINE
Operating Income Lower in
August. but Net Return
Us Higher.
RY EpwARB Q. STONE.

~ EAttfhNkb ~. ctONE,
Cut-rate taxicab fares put severe
crinp in the operating revenues of the
Washington Railway AZ Electric Co. in
August, according to the monthly
financial statement, filed with the
Public Utilities Commission today. Op-
Grating revenues for the month re-
vealeda slump Of 34,460B 6, compared
with the same period In 1880, although
the company had an increase of about
the same amount In total net income,
because Of certain economies and a
substantial gain IN incorporating In
come. For the first eight months Of
the present year the company also has
an excellent gain in net earnings
Operating revenues for August to-
tailed $SsB, 2o2.S6. against S442, 1892 a
year ago. while operating expenses
amounted to 1888. o75.56, compared with
$403,489.96 in the corresponding period
last wear. Deduction OF the operating
costs left an operating income of Sl9,-
. 1860. compared with $t9,173.26, prac-
tically no difference in the months I'M
der review.
Incorporating income in August of
this year was $414 ,946ll, against $751;
604.47 last year; gross income, less OPP
Grating expenses and taxes, totaled
$434,072.9l. in comparison with S400,-
e77.73. Deductions from gross called
for $5402217. against $55572.36 in
August 1880 After all other deductions
the company reported a net income for
the month of $3.50 05074, compared
with $s45, 4o537 year ago, or an in
crease of $34,645.37.
Eight Months Income Noted.
The Washington Railway & Electric
Co. also filed returns for the FIRST eight
months of the year. Operating reve-
nues totaled $3596, 987 co.. compared
with $3,646,l70.80 a year ago; oper-
ating expenses and taxes were $30l9,-
Ss6.73, In comparison with S3,il4, 1877,
leaving an operating income of S577,-
10o.s7. against $532.012.03 last year.
Incorporating income in the eight
month period totaled 81 1853. 945.34, COM
pared with 81 ,252. 1889. After all other
deductions the street car company had
net income Of 81 ,499. 1862, in COM
parison with 1880, 022.92 in the same
period in 1880. This is a gain so far
this year of $169,373.20 over the like
1880 period.
Todays report on the month of Au-
gust alone is perhaps the most inter
esttng. following as 1t does the August
report of the Capital Traction Co. that
street car corporations also have suf-
fered severely in operating returns from
the low priced taxi competition.
The August earnings OF the Potomac
Electric Power Co. were also reported to
the Public Utilities Commission today
Operating revenues amounting to $842,-
446.27. against $809.512.39 in August,
1880, an increase of S32, 933S8.
Revenue deductions required $780,
S7293. against $443, 4S2.78, cut In
operating expenses of $7,390l5 Net
operating revenues were $3e1,573.34.
against S366,0296 a year ago. an In
crease of s25.543.73.
Miscellaneous income totaled sl3.-
20Osll compared with $26. 406.8 80 In Au-
gust, 1890, decrease of Sl3. 20S7l
Gross income for the month reached
the sum of $404 773.45. compared with
s3g2. 43e as. gain of s12,335.
Deductions from gross totaled $78.-
607s63. compared with S65 .S34.7i, a diff
ference of $l2.772.92 leaving total net
income for the month of 1925, 1865 81. I
against $326. sos "a a year ago. or $43T 90
lower than last years profits, the de- !
preston preventing the substantial In
creases which this company usually re-
ports.
Pepco Eight Months Earnings.
n its report for the FIRST eight months
OF 1881. the Potomac Electric Power
Coz reported operating revenues Of ST.
o95,o83 "a, against S6.888, 064 81 last year,
q gain of over S207 900.
Revenue deductions totaled $3,693.-
4S5.54. in comparison with So Sis, 927 IS,
an increase Of SITE ,56O.68.
Net operating revenues for the period
were. IS, 40I, $3.50. against SO .374, 1906
q year ago. an advance of S27,456.35.
The power company had o miscellane-
Gus income amounting TO Sl39. 984.29 in
comparison with $3.50, ga 20. an increase
Of sS,345.sl.
Net earnings after all the usual de-
duetions were $780, 0459 compared
with S3.0i3.S32.0i In the same period
last year, or q slump of s2T,227.42.
New Treasury Bill Offering.
Secretary Mellon announces that the
Treasury will sell 500 100000 in Treas
ury bills to the highest bidder on
September 20. dated September 30, to
mature December so The proceeds OF
the sale will be used to retire $780,
o76O00 of bills which fall due on
September 3d.
Financing by the Treasury on Septem-
Der IS provided sl.I00 ,000. 900, which
was used to retire s634. 1000 900 maturing
$4,000 900 interest on the public debt
and provide funds to operate the Gov
err1ment until December Is.
The financing. however, did not pro-
vide funds TO meet maturing bills which
have been used by the Government at
the rate of about s50.o0,0o0 weekly
from July to September / to raise
funds needed in carrying on the work
of the Government.
Washington clearing house figures for
today: $3,642,75S.7s.
Another Active Local Market.
The Washington Stock Exchange en-
loved another active trading session
today. three banks stocks being among
the issues changing hands
Ten shares OF Federal American
National Bank & Trust Co. changed
hands at IS ex-dividend. Two shares Of
Riggs National sold today at $40. the
same price as recorded I'm other recent
sales. Ten shares of Security Savings
e. Commercial Bank stock moved at
AIS, the same as yesterdays price.
Barber q Ross SIS moved at 70 for
q 1000 bond. and $500 Washington
Gas SIS, series A. came out at 1025a.
washington Railway g. Electric As sold
at sl34.
Mergenthaler was 70 ex-dividend.
Four hundred and fifty-five shares Of
National Mortgage & Investment pre-
ferred changed hands at 4ss, and 90
at az.
Peoples Drug Stores preferred.
Potomac Electric Power and Columbia
sand e. Gravel and Washington Rail
way e. Electric preferred was other
k<aN rafH he