Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-05-28
RAILWAY COMPANY
INCOME INCREASES
@e ---- .-.
Gain of S10,337 in Net Re.
ported for ApriI-Pepco
Has Decrease.
BY EDWARD c. STONE.

Net income Of the washington Rail.
way & Electric o. for April WA
e65,sb01e, against 454.9e274 in April
1880, gain of Si0,S3T.45, according 10
the monthly statement filed today with
the Public Utilities Commission.
Operating revenues amounted 10 e472,
e0e.l2, compared with $A72,4l4.57 In
Auril. 1880: operating expenses tetaled
S31e.e73.S7 In comparison with $751;
S1ose5 year ago, leaving q total oper-
atine income Of Ss6,032.15, compared
with Sel, 0s4.e2 In the same period last
year.
For the first four months of the
present year operating revenues reached
the sum of 81 ,S42, 1859, against ST.
869. 629.40 in the same period year
ago. Operating expenses and taxes re-
ouired S1,515, 2S6.2O, compared with ell
520.TD75f, leaving an operating income
Of S326, sac 80, in comparison with S341, :
1873 In the like period last year.
Railway q Electric had non -operat-
ing income in the four months Of
Sass 033.34, as against $44S, 1880 In
1880. Deductions from gross called for
1921 ,47624, compared with 1891 ,195 .O6,
leaving net income so far this year
Of $3.50, 40640, against $558, 665 05 In the
frst four months Of 1880, an increase
in earnings OF $29, TAI. A.
Thus the street railway company is
more than holding its own In earnings
despite private automobiles and bus
competition and the cut in caffares
for school children.
Pepco Reports Small Decrease.
The Potomac Electric Power Co. re-
ported TO the Public Utilities Com
mission today net earnings in April
amounting 30 S370, 324.09, against $3.50.
see.s7 in April, 1880, q decrease Of Si2,-
670.sS.
Operating revenues totaled $751;
April last year, an increase Of SS0,-
70T.6e. Revenue deductions took 9455,-
S1l.e1. against S42O, e12.66, or Ss4,4
o90.25 heavier than q year ago. Net
operating revenues for the month were
on $A,2Dl.67, other usual deductions
making the net for the month lower
Figures for the first four months
showed operating revenues OF 1884
63l.0e, to Be compared with 81 SOL
4S2.o0 In the same period last year.
Operating revenue deductions required
81, $50, o69.ip, against 81, 74S. 2B2.25, an
increase Of S17s, 6ee.04. THESE deduc-
tions left net operating revenues total
Ing 75I,eei.so 10 comparison with Nl
laneous income Of siOS ,00s.75. against
1Tb.7S4.44, an increase Of So, STa.S1.
Gross revenues for the four-nnonth
period were OF $4,000, while deduc-
lions from gross totAled Sse1 ,6e6.1T,
against e2f5, feo.03 last year, an In
crease Of Sl5,s3e.14. After all the usual
deductions, the power company reported
D net income for the four months OF
41,5e3, 9T4.48 compared with 1885,
125s12 last year, o decrease Of &04, $50. o..
Trading on Local Exchange.
Trading on the washington Stock
Exchange today lacked the pep which
has been noted on OTTER days this week.
transfer In Potomac Electric Power S.
at 100, practically the same price as
the last sale.
The next sale was In washington
Gas IS, series D. $500 moving at 1852.
Warrington Gas os, series A, sold TO
the extent Of $1,000 ct loS.
stock sales were confined to ANAL
sales IN washington Railway d Electric
preferred at ee and two 50-shAfe sales
In Barber q Ross common at 10.
Vice President c. j. oockelef presided
ct today's session. It was announced
that Charles jacobsen, father of c. r.
Jacobsen, cashier OF the National Metro
politAn Bank, sails for Europe tomorrow
70 remain until Fall. He has been o
member Of the exchange for many years.
HIS associates first presented him with
some lemons with which TO meet any
possible attack Of seaAickness. on learn
that he has always been q good sailor
they gave him costly box Of cigars.
Bear Raids Again 10 Front.
The New York Stock Exchanges
latest QUESTIONABLE on short selling has
aroused great interest here. The last
evNM MSA aSaAt xnrmk b.
ed, the market turned upward
Short selling u carried on very large
1y by professional traders in New York.
Many fnanciers condemn the practice,
some going 20 far Is to say that so per
cent Of the present depression in stocks
has been caused in this way. BY sue
cession Of raids the bear element has
pounded down weak stocks until the
best issues on the board have also been
undermined and forced down. Investors
with the soundest issues have been
sorced TO sell
It Il claimed that the bear crowd IN
New York By selling stocks which they
DO not own, even though they do have
70 buy them eventually are delaying
the business recovery because legiti-
mate investors do not have to enter the
market on the buying side. Ever since
the Wall Street break many washing
ton fnaneiers have felt that bear raid
ing has been one of the worst factors
against any comeback In stock values,
and 1t Is believed in some quarters that
the next Congress win act to put .
crimp IN so-called "rIinous bear tao
tics,"
At any rate, RAwill be known in q few
days just how large the short interest
Is Ct present. Some traders believe IL
very large; others say 1t is Of only mod
crate size.
Heard I'm Financial District.
The Warrington Clearing House As
ISOLATION has adopted rule providing
that after June / no new savings de-
posts shall be accepted ct any higher
rate Of interest," than 3 per cent. Most
Of the local banks are paying but 3 per
cent ct present. the action being taken
TO make the rate uniform and is being
brought 10 the front at this time on &C
count CT the low money rates every
where.
The Anacostia Bank, Maurice Otter
back president is Just celebrating its
twenty first birthday the banking
rooms having been completely redeeo-
rated and in other ways improved. III
honor Of the event the entire stan will
have an outing at the Beaver Dam
Country Club this afternoon and eve
ming. 70 be featured by sports and a
dinner
The washington Rapid Transit Co,
reports April net income as s6,lel.52,
compared with s4,3l8s1 in the same
month last year. For the fifst four
months Of the present year the Rapid
Transit Co. reports a deficit. The ad-
vance in earnings In April was due to
extra good tourist traffc.
The $50 900 900 Consolidated Gas Co
Of New York 24-yeAr Az per cent gold
dehehture bonds, dated June /. 1890
have already been sold. These bonds are
to be listed on the New York Stock Ex-
change and interest will be maid on