Evening star., 1932-05-26
W.R. & f. EARNINGS
! DECLINE IN APRIL
$4,000 Drop Reported.
! Power Company Scores
Increase for Month.
BY EDWARD C. STONE.

the washington Railway q Electric
Co., in April, were again made by the
low-rate taxicabs, according to the
monthly statement filed with the Public
Utilities Commission today. Net earn
ings for the month were off more than
$4,000 from the corresponding month
o year ago.
Operating revenues amounted to
S400,817.70 against the much higher
figure last year Of $472, 2,906.l2; operat-
ing expenses were reduced. being $347,-
434.e1 against s376.87337 in the like
1881 month, leaving an operating in
come of $53,38279 in comparison with
the higher figures of $96,032.75 a
year ago.
Incorporating revenues were slightly
higher being s24 4,62792. compared with
$23,599.48. After all deductions from
gross, the railway company reported
total net income Of $24260.39 against
sos .330.19, or falling of of SAL ,069 80.
For the first four months of this
year the Railway & Electric Co. re-
ported operating revenues of $1.597,-
74760 against 81 ,842, 1859 a year ago
operating expenses and taxes called
for 81 ,405, ,927.15, compared with 81 SIS
286.20, leaving an operating income for
the four months Of $191,82045 in
comparison with the much larger re-
turns last year Of 1926. .849.39.
Incorporating revenues totaled $516,-
62896 against $483, ,03334 a year ago.
making gross income total S708, ,4494l
against $809, ,88273. Deductions for in
terest, etc, required $216,06810 while
this item year ago totaled 1921 ,476 "a
leaving a net income so far this year
of 1892, ,38l.31 against s588, ,406.49, or a
decrease of $96,025.18.
Pepco Earnings Show Increases.
Earnings Of the Potomac Electric
Power Co., filed with the Public Utili-
ties Commission today, reveal gains in
April and in the first four months of
the present year. In April operating
revenues totaled $sl4,037.56 against
1881 ,413.49 year ago, a gain of s32,-
624.08. Operating expenses required
$465 ,63039 against $455,8119l an in
crease of $9,8l848, leaving net operating
revenues of $448 8,40717 against S425,-
601.57, a gain Of 22,805.60.
Miscellaneous income was of $4,000
from a year ago, total deductions from
gross for interest, etc. leaving a total
net income for April amounting to
$685., 1852, In comparison with s376,-
324.99, or an increase Of $9,35093.
For the first four months of the pres
ant year the power company reported
a gain in operating revenues Of $188.-
DS6.61, while deductions from operating
revenues to cover expenses showed an
increase of $66,s96.58.
Net operating revenues totaled ST.
s98, ISL 93 against S1,777, ,66l go in 1881,
q gain Of $121, ,090.03. Miscellaneous in
come showed a drop Of over $4,000,
while gross income revealed an advance
of 63,63219. Deductions totaled s307,-
3624l compared with 1921 696.17,
gain of $15,666.24, leaving total net in
come Of $1,641 ,940.43 compared with
81, ,593, ,974.48, or an improvement in net
% far this year of 47,965.95.
Lynch Heads Life Underwriters.
John P. Lynch of the New York Life
Insurance Co. was elected president of
the District of Columbia Life Under
year, by the board of directors yester-
day, the retiring president being David
s. Bethune Of the Equitable Life Insur-
ance Co., New York.
John L. McElfresh, Connecticut
Mutual, was elected first vice president,
succeeding Philip L. Baldwin, North
western Mutual, and Horace Winter.
Travellers Insurance Co., follows J. E.
McCombs, Mutual Life Insurance Co.
Of New York as second vice president
The new secretary Is George T. Black,
Sun Life Insurance Co., who succeeds
Daniel j. Harrison of Massachusetts,
Mutual Life Insurance Co. George B.
Farquhar, Penn Mutual Life Insurance
Co, was reelected treasurer.
Mr.. Bethune was chairman Of the
meeting of directors and Mr. Harrison
secretary. Other directors in attend
ance were Paul D. Sleeper. Aetna Life
Insurance Co.; Mr.. McElfresh, Mr.
Lynch, Thomas P. Morgan, jr., Mutual
Life: Horace Winter and Carl Smith
Dow, Northwestern Mutual
The many Washington bank friends
Of Col William G. Edens, former vice
president Of the Central Republic Bank
& Trust Co. Of Chicago were pleased to
learn today Of his reelection to the
Executive Council of the American
the Illinois State Bankers Association,
in convention at Springfield. Col. Edens
Is now an inactive vice president of the
Congress Trust & Savings Bank. Chica-
go, and is in Washington in the interest
Of the Century of Progress, Chicago's
International Centennial Celebration,
which opens on June l, 1888.
Power Stock Leads Exchange.
Seven 10-share sales of Potomac
Electric Power 5h preferred stock at
103 lead trading on the washington
Stock Exchange today. In the bond
division $1,000 Capital Traction SIS
came out at so, $500 Washington Gas
IS changed hands at 1904 and 500
and $500 Washington Gas IS, series A,
bonds moved at 9SA.
The report of Loft Inc, for the first
-four months of 1882 shows sales
- "a iv,nr
of $399, ,247.97, or 9.S per cent. The
company also reports an increase in
customers of Ola, ,342. or 8 per cent over
the same period In 1881.
The managers of the District Bank
ers' Association coming convention an
nounced today that there has been
q substantial pickup in the speed in
which reservation requests are arriving.
The outlook for large attendance Is
now considered bright.
The number Of Pennsylvania Rail-
road stockholders continues to in
crease, according to announcement
made today, which disclosed that 249,-
228 stockholders were registered on the
company's books on May /, an increase
of 904 stockholders over the preceding
month.
Heard in Financial District.
Corp. has declared two regular quar-
terly dividends Of $1.50 each. The first
is payable July II to stock of record
June %, and second payable October
10 to stock of record September 22 Ac-
tion on the October dividend was taken
at this time because of a possible lack
of quorum at the Summer meeting
The first currency to bear the sigma
ture Of Ogden L. Mills as Secretary Of
Treasury will be put into circulation
about September l. The first sheet of
81 bills signed by Secretary Mills was
distributed to members Of the Secre-
tarys family, and the second lot, per-
sonally autographed by Mills, were given
to newspaper correspondents covering
the Treasury.
Justin Peters, president of the Penn
Sylvania Lumbermen's Mutual Fire In
ca ard diractcx: In tho