Evening star., 1932-11-25
POTOMAC POWER
OCTOBER NET UP
Railway & Electric Has An
other Decrease in Month
Iy Earnings.
BY EDWARD C. STONE.

Power Co. in October totaled S37l, =
O64.94, compared with S358.873.n in
October, 1881, a gain of 12,191.83, ac-
cording to the monthly statement filed
today with the Public Utilities Conf
mission.
Operating revenue in october
amounted to $913,84802 against $9l6,-
473.87, a falling off of $2,625.84. Rev
enue deductions called for S479, 5000,
compared with $491, ,379.53. or a re-
duction in expenses of S11 ,849.64, leav-
ing a net operating income of S434,-
318.13 against $425, ,094.33, an increase
OF $9,223.80.
The statement filed today also showed
earnings for the first 10 months OF the
present year. Operating revenues
totaled $9057, ,378.40 against $8,887,-
63S. 70 in the like period year ago, an
increase of S169, ,739.61. Revenue de-
auctions required $4,764,628.66, COM
pared with $4,640, ,219.44, an increase OF
S124,40922, leaving net income from
operations of S4,292, ,74974, compared
with S4,247, ,419.35, gain of s45, $3.50. 80.
Miscellaneous income reached the
sum of S123,O94.37, compared with
S2I5.49765, q decrease of S92,403.28.
After all the usual deductions from
gross. the Potomac Power Co. reported
net income of S3,649 955.83 against So
7O053093 in the corresponding period
q year ago, o. decrease OF S50ol5.le.
W.R. sc. October Net Falls Of.
The Warrington Railway & Electric
Co. also filed its October report with
the Public Utilities Commission today,
showing revenues from operations OF
s375,367 against $438,877.78 year ago
Operating expenses and taxes called Tor
S346 .608.84, compared with $373, 30
a year ago, leaving a net operating in
come of S28, ,75S.16. against $64, 1928 45.
Gross income totaled $50, 1926
against the much higher figure in Octo-
Der, 1881. Of SOC, ,357.27. After all the
usual deductions from gross. the rail-
way company reported a deficit for the
month of 81 ,851 as against net pront
in the same month a year ago OF $685.
14131.
For the first 10 months Of 1882, op-
Grating revenues totaled S3,796, 1926
against S4,444,0491l Operating ex-
penses and taxes amounted to $3,46O,-
526.14 against S3,746,3 ,378 18, leaving an
operating income of $335, ,609.l2, in
comparison with S697, ,670.9S year ago.
Incorporating income this year was
81 SOC, ,203 go, compared with Sl,4lO,-
651.80 year ago up to November l.
Gross amounted to Sl,835,8l2.72 against
Il, -
gross required $540, ,106.57 against $685.
868 .O5. leaving net income for the 10
months of S1,295, ,706I5, compared with
81, ,562, ,454.68.
Recovery Declared Under Way.
Without ignoring veXing problems to
be solved, unpleasant adjustments to
be completed and the necessarily evolu-
tionary character of world economic
reconstruction, it may be said that re-
covery is beginning. according to an
investment survey by Frazier Jelke d
Co. The survey adds:
Recovery does not mean boom, nor
does it infer the immediate revival of
who.e-hearted speculative enthusiasm
in securities commodities or real estate.
Compared with our experiences in the
two or three years prior to 1880, con-
ditions during the next few years are
likely to be prosaic. Background for
enthusiasm is lacking, and adventurous
spirits are cfastened. The business
order progresses from deepest depres-
sion to property only by cyclical
process involving a series OF steps, just
as a child creeps before he walks, walks
before he runs, and runs before he
dances.
THAT another year of sub-normal
proposition not open TO debate. In
1898. trade volume will be uncomfort-
ably small; corporate earning power
will be restricted heavy industries will
make discouragingly Glow progress; un-
environment still will be general; public
buying power will be feeble; and the
painful process Of adjusting debts to
the new level of commodity prices will
continue. The only alternative for this
condition is initiation of the most radical
type; but indications that the new ad-
ministratiUn favors such a short cut. or
is willing to risk its consequences, are
lacking
Gold Standard Return Urged.
Stability of exchange is a prerequiSite1
for the restoration of orderly commerce
and trade said Silas S. Strawn, chair
man of the American Committee OF the
International Chamber of Commerce,
when he sailed to attend the council
meeting of the International Chamber
of Commerce in Paris Such stability
cannot be obtained, he declared, until
the important trading countries return
to the gold standard or to some relation
to gold.
Until there is some solution reached
In this vital matter" he said, "the va
rious national currencies will continue
to fluctuate in terms of each other, and
the control of the purchase and sale of
goods on an international basis will be
in large measure in the hands of gov
eminent bureaus, required by reason of
their exchange difficulties to prohibit
the movement of gold across their
frontiers"
The World Monetary and Financial
Conference unQueStionably will deal with
these nFnhlan1c
said.
Writes Book on Stop Orders.
stop Orders, How to Use Them for
Profit" is the subject of book copies
of which have recently appeared in the
local financial district. It is written by
Owen Taylor and published by Stock
Market Publications. The author con-
tests the idea that the investor has no
use for stop orders. But he does not
take a one-sided view of the question,
as he shows the disadvantages of their
use as well as their advantages He
also gives his ideas on how to offset the
drawbacks. The book is concise and
well illustrated with charts, and while
the subject is not new one there is
always good deal of discussion in both
investment and speculative circles. so
that the conclusions are both interesting
and timely.
Todays Trading on Exchange.
washington Railway & Electric Is
led trading on the Washington Stock
Exchange today One $4,000 and three
$1,000 transactions took place. All
made &c.
Washington Gas 6s, series A, also ap-
peared on the board, small sale taking
place at 995s.