Evening star., 1932-04-28
POTOMAC ELECTRIC
+ NET PROFIT GAINS
w. R. & E. Reports Decrease
/ Operating Revenue for
Month of March.
BY EDWARD c. STONE.

Net income OF the Potomac Electric
Power Co. for the first quarter Of 1882
amounted to S1,256, ,26451 against ST.
21764949 in the like period of 1881, or
a gain of S38,6l502 according to the
statement filed with the Public Utilities
Commission today.
Operating revenues for the first
quarter totaled $2,918, ,68O.14. against 81
7632l76l a year ago, an increase of
$155, ,462.53. Revenue deductions called
for 81 ,466, 335 SO compared with S1.41l,- =
1923. an increase Of S57,l79.10, leaY-
ing net income from operations of ST.
450,34476 in comparison with 81, ,352,-
O60.33, or a gain Of S9828443.
Potomac Power has also filed its earn
ings report fer March. which reveals
very substantial profits during that
period, although not quite up to the
record a year ago. R~:I operating
revenues reached the sum of S922.-
672.32, against $901, ,7l0.39. or a gain of
$20,e61 ,43. Revenue deductions required
S496,13l6l compared with S466 609 %
in March, 1881, an increase of S29,-
522.38, leaving operating revenues of
S426,540.n in comparison with S435,-
101.66, a drop of s8.56095.
After all deductions from gross the
power company reported the substantial
March ret Of 1852, 12995 compared with
$39o,560.73 in March, 1881, a falling
of of $28,43O.78.
w. r. G. E. Reports Decrease.
According to the washington Rail-
way & Electric Co.'S report. also filed
today with the Public Utilities Com
mission, operating revenues in March
totaled S408,272.9l, against the higher
figure year ago of $466, ,632 80 Oper-
atlng expenses were 1894 ,525 so, COM
pared with S383,113 in March 1881.
leaving operating revenues of S43, ,747.32,
against $83,51837.
Incorporating revenues were prac-
tically the same, being S24,71884 in
March, 1882, and S242529 in March,
1881. After all deductions from gross
the railway company reported a net
income Of S14,20l.25, against the much
higher figure a year ago of S53, 3,048.76
1t VIII be seen that the chief reason
for the drop in income is due TO the
slump in operating revenues, which in
turn is mainly because of the keen
taxicab competition that had not been
started in March, 1881
Figures for the first quarter show
operating revenues of SI,196, ,e2e. go.
against ST 1863 ,22947 in the same period
last year. Operating expenses took ST.
058.492 "a, compared with the higher
figure of $1138,41293 in the first three
months of 1881.
Income from operations totaled Sl3s,-
1886, against S230,816.64, while non
operating income amounted to S492,-
00l04, compared with the lower figure
Of S459 43386 in the like 1881 period.
After all deductions, the street rail-
road company reported net income for
o rte of
076.30 year ago.
A. b. A. Council Meeting Ends.
Local bankers, Francis G. Addison.
jr., Howard Moran and Robert v.
Fleming, reached home this morning
from the Spring meeting of the eXecu-
tive council of the American Bankers
Association held at White Sulphur
Springs. All report one of the most
interesting and important sessions held
in years.
Practically the whole three-day ses-
sionS were devoted to legislative matters,
owing to the record number of banking
and ether bills of a financial nature
now pending before Congress Mr.. Ad-
olson said today that the report made
by Mr.. Fleming as chairman of the
legislative council of the A. B. A. was
most complete and dealt great detail
with the leading banking measures be-
fore the Senate and House 1t aroused
great interest amcng all the delegates,
the local banker receiving hearty con-
ratulations on the vast amount Of work
aad study which he has put into these
important matters.
According to news dispatches, the
Glass banking bill was given approval
The delegates, however. named six
features in the bill to which they OBJ
1ected. The financiers viewed the meas
ure from the angles Of the biggest banks
in the country, the medium sized in
stltutionS and the smallest ones. The
attitude toward the proposed legisla-
tlon was then made to conform as
nearly as possible to the wishes Of these
divergent interests.
The bankers, Of course, discussed the
business outlook very freely. They were
frank to state that the likelihood of any
immediate substantial advance is i'm
probable.
Treasury Issues Oversubscribed.
The two latest security offerings of
the Treasury Department have been
largely oyersubscribed, it is announced
by Secretary OF the Treasury Mills
Total subscription of the per cent
tWo-year notes which will be dated May
l was S2,496 428700 and the subscrip-
ton for the s225, 900 600 of 2 per cent,
one year Treasury certificates was ST.
699 868 000
The total Of the two issues to be sold
May 2 as the part of the Treasury ST.
100000 900 borrowing program for the
current fiscal year was S4 1876 296 700.
The huge oversubScriptiOn was not re-
garded as unusually significant by off,
Cials, because it was known that many
financial interests seeking to obtain a
part of the unexpectedly small total Of
the two issues had padded their sub
scriptions several times 10 get the
amount they wished
The conditions which made notes and
certificates popular were first their COM
paratively short term and second the
fact that Federal Reserve banks now are
buying securities, releasing cash for
which investment vas sought
Bonds Again Lead ID. c. Exchange.
In light trading on the Washington
Stock Exchange today bonds were in
the best demand. Washington Railway
q Electric Is figured in two 81 900 sales
at 60l4. Chesapeake &, Potomac Tele-
phone SIS Of Virginia recorded a 1000
sale at 99Ia. The days trading also
included a small lot sale in Washington
Gas Light stock at 86 and transfer
in Prince Georges Bank 65 Trust Co.
stock at 80, this stock having been
listed on the local board for some time.
Women Plan for. Convention.
Mrs. c. H. Pope, chairman Of the
WOmens Committee connected with the
annual convention of the District of
Columbia Bankers Association. presided
at an important meeting Of the group
yesterday at her home at which the
entire program for women's activities
at the convention at Hot Springs in
June was outlined. Those meeting with
Mrs. Pope were: Mrs. George O. Vass,
vice chairman; Mrs Claude H. Wood
ward, Mrs Charles II. Doing. Mrs.
Frederick H Cox. Mrs. Sidney F. Tai
liaferro. Mrs. Elict H. Thomson, Mrs.
M @ nc@1n-y HF-g L II5lltyar NErc