Evening star., 1933-09-28
PEPCO BUSINESS
MAINTAINS PACE
Net for Eight Months Totals
Almost Exactly Same
as Year Ago.
BY EDWARD c. STONE.

BY EDWARD c. STONE. .
Business of the Potomac Electric
Power Co. IN the first eight months of
this year was almost exactly the same
as in the corresponding period a year
ago. according to the financial state
ment filed today with the Public Util-
tiles Commission. Net income in the
eight months of 1888 was $2,s51,1I3s8
against s2,950,962.20 in the like 1882
period, gain of $151.78.
Operating revenues totaled $685.
551.43 compared with $7,28l,417.34 q
year ago, decrease of $45,865.9l. Rev.
enue deductions required $3,770, ,839 50
against $3,815 5,009.49, a decrease of
$44, 1887 which shows how well the
company held down expenses to offset
the lower operating income. Net oper-
ating revenues reached the sum Of $3,-
464, ,711.61 compared with 3,466, ,4O7. IS
last year. off $1,696.24
Miscellaneous income was S2846.42
lower and gross income down $4542 66
In the same period. Deductions from
gross totaled S609, 1854 against $685.
890.28 last year, leaving the above men
toned total net income for the eight
months so close to that of last year.
Potomac Power August figures were
also filed today, showing operating
revenues of $849, ,928.34 in comparison
with 1881 ,68977 in August, 1892, a gain
OF $18,238.57. Revenue deductions took
s484,11334 compared with s463, ,s14S3
year ago, an increase Of SIC, 0,498.51
which more than offset the operating
gain. Net operating revenues amounted
to 1855, ,8l5 against $368,07494. a de-
crease Of $2,25994.
Miscellaneous income in August was
s10,707.95 against s12,08126. Gross
corporate income total $376.522 95 COM
pared with $3.50, 0,156.20, and deductions
from gross called for $77,142.lO as COM
Tared with s76. .957.60 in August, 1882,
leaving total net income for the
month of $299 ,38085 against $303. 1913 go
year ago, a small decrease of S3.8I7.75.
w. r. & E. Earnings Improve.
The Washington Railway g. Electric
Co. also filed its August statement to-
day with the Public Utilities Commits
sion, this showing a gain in net earn
ings during the month Of $31, ,731 .88.
The increase, however, was due to nom
operating income rather than to any
marked change in operating income.
Operating revenues totaled s31e ,e73. 81,
compared with the higher figure of
1887, ,478.97 in August, 1882. Operating
expenses and taxes required 1920, ,595.15,
as compared with $340329.49 a year
ago, which made the operating income
S621.34 lower, against slump in oper-
ating income In August, 1882, of ST.
85O.52
Incorporating income was consider
ably larger. being $473, ,724.58, against
SAB, ,905.67. Gross was SAFE, ,103.24,
Deductions required $54,33546, as
against S54,01925, leaving a total Au-
gust net income of $418,767.78, in COM
parison with 1887 ,O35. 80 a year ago.
In the report of the railway and elec-
trio company for the first eight months
of 1889 operating revenues amounted to
$27O9, ,194.15, against s3,077, ,461.33 last
year Operating expenses and taxes
totaled s2,551, ,902.10, compared with
$2,777, ,462.95. leaving an operating In
come of S157, ,292.14, in comparison with
the much higher figure a year ago Of
$299, $685.
incorporating income totaled ST.
533, ,59l 90, against 81, ,453 ,206.83. Gross.
less operating costs and taxes, summed
up to $3.50, ,884.10, as against 81, 49,
20521 a year ago. Deductions from
gross called for S434 1886 .96, against
S431 ,96777 in the eight months last
year.
This left a total net income for the
period of S1,256,54814, in comparison
with 81 ,320, ,23744 In 1892, a falling OH
SO far this year of $63, $3.50.
Tcday's Trading on Exchange.
washington Gas IS. series B, opened
trading on the Washington Stock Ex-
change today, $500 changing at 1924.
Trading then turned to stocks. the
first sale being 10 shares OF Nor1olk
g. Washington Steamboat co. at S4'
q point under the last previous sale
After call. another 10 shares was sofa
at the same price.
Both Potomac Electric Power stocks
appeared on the board today. The 6
per cent preferred moved at ITO and
yery small lot of the 51a per cent pre-
ferred moved at 1861.
Capital Traction appeared on the
board again today, but in very small
amount. The sale was made at l3A,
same as Yesterdays sales. The market
closed with IL bid and 16 asked.
Commerce Directors Reelected.
Stockholders Of the Bank Of Com
merce & Savings, Seventh and e
streets, held their annual meeting IN
Alexandria this noon, the bank oper-
ating under a Virginia charter. The
following directors were reelected Tor
the coming year: ,
Maurice D. Rosenberg. Joseph
Sanders, Irwin Owings, John M. Rior-
don, Thomas J. Groom. Joseph H.
Milans, Dr. Clarence A. Weaver,
J. E. Collifower, E. T.. Chewing,
Leese, Harry E. Mayer. j. F. Maury,
Vernon G. owen and Frank Owings.
The stock was largely represented
at the meeting President Maurice D.
Rosenberg made brief talk In which
he stressed the excellent condition OF
the bank and gave his views OF the
banking outlook. Officers for the COM
ing year will be elected in the near
future.
1. B. A. Convention Plans Out.
Washington members of the Invest
ment Bankers Association Of America
have just received copies of the 20
page program for the associations
twenty-second annual meeting to be
held October % to November l at the
Homestead, Hot Springs, Va. The pro-
gram schedules "a, including regular
sessions meetings of the Board Of
Governors, 10 special forums and 6
committee meetings.
The Peoples Bank, Denton, Md, with
a branch at Ridgely; the Caroline
County Bank, Greensboro, and the
Hillsboro- Queen Anne Bank, Hillsboro,
with a branch at Cordova, all of which
are located in Caroline County, Md,
and the Talbot Bank, Easton, in Talbot
County, have reopened on an un-
restricted basis, following reorganiza-
ton, John ]. Ghingher, Maryland bank
commissioner, reports.
Stegan to Address Bankers.
Rertram Chesterman, President of the
Morris Plan Bank Of Washington, an
nounces that Representative Henry 3.
Steagall, one of the authors of the