Evening star., 1933-07-27
POT0MAe ELECTRIC.
OUTPUT INCREASES
June Report, However, Shows
Slight Drop in Total
Net Earnings.
BY EDWARD C. STONE.

year ago. according to the monthly
financial statement filed with the Public
Utilities Commission today. This gain
Is in line with the increase in electrical
output recently reported all over the
country. Net income, however. was
slightly lower than in June. 1882.
Operating revenues in June totaled
$887, 5000, against $S75, ,665.84 in June
last year, an increase Of $11 ,9s0.25. De-
ductions from operating revenues re
quired $497, ,205.97, compared with $780,
44316, an increase Of $50, 1921.
Net operating revenues amounted to
$500, ,390.12, in comparison with $4l5,-
22C.68 last year, a decrease Of $24,-
83256. Miscellaneous income was prac-
tically the same as in June, 1882. After
all deductions, the power company re-
ported a net income OF $326,515.S5,
compared with 1851, ,l25.os, or de-
crease of s24,eo9.54.
Six-Month Report Filed.
The power concern also filed its re-
port for the first six months Of the year,
net revenues making almost rs good
showing as last year.
Operating revenues totaled $5,524,-
288. .78. against $5,577 $3.50 a year ago.
a drop of S53,06472 After all operat-
ing deductions, net operating revenues
totaled S2,692, ,940.1l. compared with
S2699, ,448 a year ago, decrease OF
S65O789.
Gross was slightly lower than in the
first six months of 1892 and deductions
from gross called TOR $455, 1875, IN
comparison with $3.50, ,321.83, or q de-
crease of little over 5000, and leav-
ing a total net income Of $2,3ll 1883.
against S2,313, ,3945l, of 81 ,955.98 from
the like period last year.
W.R. & E. Statements Filed.
The Washington Railway & Electric
Co. filed its monthly report and state
ment for the first six months OF 1888
with the Public Utilities Commission
today.
The report for six months showed
operating revenues of $2,08l ,80O.51,
against 1888, ,441.13 a year ago Oper-
ating expenses and taxes required ST.
904, ,50985, against s2,095, ,363.18, leav-
ing an operating income of $177 ,290.66,
compared with S288,077.95.
incorporating income amounted to
81 ,O37 ,930.27, against $685. ,2oo.8l a year
ago. Gross, less operating expenses and
taxes, totaled $1,2l5 ,220.93, compared
with S1,273,278.76 year ago.
Deductions from gross income re-
quired S325, ,626.30 this year, against
S324,07445 in the like period last year.
This left a total net income for the
half year of $685., ,594.63, In comparison
with S949, ,204.31 a year ago.
The June statement showed operat-
ing revenues of 343,074.64, against
1885, 5,61145 in June, 1892 Operating
expenses were $306, 1882. against $344,-
29O68 leaving an operating income
Of s3626112, as compared with SAL
32057 in June year ago. Net income
was also down about $4,000 for the
month.
Fifth District Sales Compared.
How Washington department store
sales in June compared with sales IN
other cities in the fifth Federal Reserve
district was revealed today in detailed
report from the statistical department
of the Federal Reserve Bank OF Rich
mond. Thirty-one stores in different
cities are included.
Department store sales in June in
Washington were 98 per cent under the
total for June, 1882. In Richmond sales
were off 6.2 per cent, and in Baltimore
So per cent They were down only 2.9
per cent in a group of other Fifth Dis
trict cities, while the average for the
entire territory was 7.3 per cent under
last year.
Sales from January to the end OF
June were off is per cent in Washing
ton stores, Ill per cent in Richmond,
IS per cent in Baltimore, and 1873 per
cent in a group of other cities. The
average decrease for the district was
144 per cent, just under the Washing
ton and Baltimore figures.
Stocks on hand at the end Of June
were 1875 per cent lower IN Richmond
1ae& nj hn
off in Baltimore, go in Washington. 81
per cent in a group of other cities
and II per cent for the whole district.
Goods on Hand June 30.
Goods on hand at the end Of June
compared with the end Of May this year
Were AZ per cent larger in Richmond,
35 per cent larger in Baltimore, 6 per
cent larger in Washington. 3.6 lower in
a group of other cities and up 1.6
per cent in the district as q whole.
During the month Of June stocks
were turned over .341 times IN Rich
mond, .324 in Baltimore, 1886 In WASH
ington, 238 in other cities and .321 In
the entire district From January to
June 80, stocks were turned over 1.9O6
times in Richmond, 1902 in Baltimore,
1853 in Washington. 1.36 in other stores
and 179 times as the district average.
Collections made favorable showing
during June. the Richmond Bank re-
ports. In Washington 26.5 per cent of
receivables were collected, 28.4 per cent
in Richmond, 21.4 per cent in Baltimore,
and 242 per cent for the entire districts
average.
North Americans Earnings
The consolidated income statement
of the North American Co. and sub
sidiary companies for the IL months
ended June 80, 1888, shows $11, ,199 ,902
for common stock after all operating
expenses, interest charges. depreciation
and all other reserves and preferred
dividends. These earnings for common
cent compared with those for the IL
months ended June 80, 1892, and are
equal to STAT per share on the average
number of shares of North American
common stock outstanding during the
IL months ended June 80, 1888, COM
pared with $3.50 per share for the cor
responding period ended June 80. 1892
Appropriations for depreciation reserves
equal 1858 per cent OF gross earnings
for the II months ended June 80. 1888,
compared with 1918 per cent Ct gross
earnings for the 1882 corresponding
period. Appropriations for depreciation
reserves for the IL months ended June
80, 1888, are equal to $1.83 per share
on the average number of shares of
North American common stock out
standing during that period.
Heard In Financial District.
Lanier P. McLachlen, president of
the McLachlen Banking Corporation
sailed from Baltimore today for France.
He will be abroad about a month. Mr.
McLachlen is a former president Of
the District Bankers Association, and
is now president Of the Columbia
Country Club.
The regular weekly luncheon Of the
District of Columbia Bankers Asso.
ciation was held at the Willard Hotel
yesterday. Owing to the absence on