Evening star., 1934-12-27

was onset by an increase IN operating
costs, revenue deductions requiring
s6,576,36374, against S5,227, ,320O4, or
an advance of $1,349,043.70.
Incorporating and miscellaneous
revenues were lower than last year,
making gross earnings lower than the
operating income. Deductions from
gross called for 1862, 2,977.69, compared
with $837,06912 in the same 1888
period, an increase of $125,90859.
Potomac Power also reported earn
ings for November to the commission,
showing slightly larger income than
a year ago in the same month. Op-
Grating revenues totaled 81 ,056 ,622 IS,
against 1920, ,l22.84, gain of $780,
500.01. Revenue deductions amounted
to S612,421.47, in comparison with
S493, ,885.07, an increase of S118, ,536.40,
leaving net operating income of
s444, 4,201.38, compared with S426 1885. OF
in November, 1888, an advance of
s17,963.61.
Incorporating revenues were up
sl7,963.6l and miscellaneous income
was off S1,03783. Gross stood at
s454,755.45, against $43782967 last
year, an increase of 16,92578. De-
ductions called for S91 1929, as COM
pared with $76,49254, an increase of
Sl4,976.69, leaving a net income for
November of 1868 ,286.22, in compari-
son with 1851 ,337.13, or a gain of
sl,949O9.
Neal Takes Wilson'S Place.
William Mcclellan, president of the
Potomac Electric Power Co., an
nounced today that Alfred German
Neal, vice president and general man
ager of the Potomac Electric Power
Co, was elected to the Board of Di-
rectors of the power company and the
Washington Railway & Electric Co.
at the meeting of the respective
Boards of Directors, held yesterday.
Mr.. Neal succeeds to the director
ship on the boards of the Potomac
Electric Power Co. and Washington
Railway & Electric Co., and member
ship on the Executive Committee of
the power company, made vacant by
the death of the late Harley P. Will
son.
Mr.. Neal started with the company
In February, 1918, as controller, and
was elected as vice president in jan
uary, 1925. He became general man
ager in 1888.
Washington Second in List.
The Federal Housing Administration
reports that Washington stood second
IN the total number Of home modern
lzation permits issued in cities in the
United States in November. The per-
mits totaled s627,192.
Up to December 13, the Home Own
ers' Loan Corp. had closed mortgage
reflnancing loans on 695, ,351 individual
urban homes throughout the United
States, to total of S2,103,161.423.
In addition, it is announced about
235,000 loans are now on file, and well
on the way to final decision.
The average loan to date is S3.O24,
calling for payment of less than S24
each month, it is stated.
Financial District Gossip.
William Montgomery, president of
the Acacia Mutual Life Insurance Co.
which has its head Office in WASH
lngton, started his duties as president
of the company Al years ago yesterday
Raymond A. Du Four, who Joined
the John F. Cremen agency of the
Massachusetts, Mutual Life Insurance
Co. in January of this year as a spe-
c1al agent in estate and business in
surance, has paid-for business in ex-
cess of S250,000 dollars for his first
year with the agency. This unusually
large volume of insurance was placed
on 36 lives. Mr.. Du Four is an active
member in the Junior Board of Com
merce and is in his second year at the
Law School OF Columbus University.
All Washington broker offices will
be open next Monday, as usual, the
New York Stock Exchange having
turned down the plea of some mem
bers to close up on the day before
New Year
The Baltimore & Ohio Railroad
today reported November net railway
operating income as ST, ,596, ,589 against
S1,539,349 in November, 1888, a gain
of $57,240.
Today's Trading on Exchange.
Trading on the Washington Stock
Exchange today suffered an after
Christmas lull. The first sale was in
Potomac Electric Power 5ll2 per cent
preferred stock at Ill. The same
stock closed at 1903 on a five-share
sale. Washington Gas IS, series B,
registered $500 bond sale at 103,
unchanged.
Issues on the Washington Exchange
which will pay dividends in a few
days include Lincoln National Bank,
National Bank of Washington, Bank
of Bethesda, Bank of Commerce &
Savings, National Union Fire In
surance Co. and Woodward & 10th
rop common and preferred.
Other payments are due soon, but
the stocks have not yet been quoted
ex-dividend Many more dividends
are being paid than at this time a
year ago.