Evening star., 1934-03-01
PEPC0 D|SCL0SES
HIGHER REVENUES
January Operating Figures
Show $52,161 Gain Over
Year Ago.
BY EDWARD C. STONE.

652.71 in January, as compared with
81 ,024, ,790.98 in the like month a year
ago, registering a gain of $50, 1918,
according to the financial statement
ior the first month of 1884, filed today
with the Public Utilities Commission.
Revenue deductions, however, were
heavier this year, being $60l 1888 78,
against S483, ,459 go in January, 1898,
Or an increase of $118,379.18, leaving
total net operating revenues of S475,-
1888, in comparison with S541 1881 38
In the same 1888 period, or de-
crease of S66,21745.
Miscellaneous income was off 81
755.71, the report showed, making
gross stand at S486, ,9O1.34, against
S555,874.50 in January year ago, a
falling off of $68,97316. Deductions
from gross required S86,O1644, as
compared with $76,1411O, an increase
of S9,875.34
These deductions left January net
income of s400, ,884.90. in comparison
with s479, 73340 in the similar period
last year, decrease of 8,843 SO.
Street car and bus earnings of the
washington Railway g. Electric Co.,
which have been filed for many years
along with the monthly earnings of
the Potomac Electric Power Co., are
now included in the monthly reports
OF the Capital Transit Co. Washing
ton Railway & Electric is now only
q holding company.
c. & p Earnings Higher.
Earnings of the Chesapeake & Po-
tomac Telephone Co. recorded sub
stantial improvement in January, ac-
cording to the financial statement Just
filed with the Public Utilities Commits
sion. Balance before dividends was
Sl63,447, against Sl30,027 in January,
1888, a gain of over $4,000.
Operating revenues were S804,875.
against S771 ,297 year ago: operating
expenses required $3.50, ,O2O, as COM
pared with S558,872, leaving after
taxes net operating income of $780,
158, in comparison with S155,529 a
year ago. Interest deductions called
for S23,091, against S26,692 year ago.
There were 1882 telephones in
service in the District of Columbia at
the end of January, an increase of
liza over the number of telephones
In service at the same time year ago
During the month of January there
vas a net gain of 1,121 telephones in
Washington.
The number of calls handled during
the month was approximately 20,
100000, which was 95l 900 more than
the number handled in January, 1888.
The market increase in operating
revenues due to the increase in tele-
phone calls reflects business improve
ment in the National Capital, the tele-
phone report always being considered
an unusually accurate barometer OF
prevailing economic conditions.
d. C. Collections in Upturn.
Sales in 80 department stores in
the fifth reserve district in January
continued to compare favorably with
sales in the corresponding month OF
the preceding year Sales were 1876
per cent larger in dollar value than
sales in January, 1888. the largest
gain reported for any month except
August, 1888, since the depression be-
gan.
Stocks on the shelves of the report
ing stores declined an average of ST
per cent during January, a seasonal
reduction, but at the end of the month
stocks averaged 15,7 per cent above
stocks a year earlier. Stocks were
turned an average of .245 times dur
ing January, slightly faster rate
than .242 times in January, 1888.
Collections in January, 1884, aver
aged 29.7 per cent of receivable out
standing at the beginning of the
month, higher percentage than 28.2
per cent collected in January, 1888.
The Richmond bank, as already
noted, reports retail sales in Wash
ington as 10.1 per cent ahead of Janu-
ary 1888. At the end of the month
stocks were 16 per cent higher than
at the same time year ago. but 6
per cent lower than at the end of De-
cember. Collections during the month
were over % per cent of receivables.
New Transit Pass Record.
The Capital Transit Co. made
new record in the sale of passes, or
weekly tickets, last week with total
of SOTO. This is higher mark
than was reached even during the
Christmas holiday rush. The expert
ment has been extended for another
three months. The increase in traffic
on the merged car lines has been one
of the greatest surprises in Washing
ton in many years. An increase in
traffic had started before the merger
went into effect, but the gain has
been above all expectations.
The Mount Vernon Savings Bank
will reopen next Monday as a branch
of the Washington Mechanics Savings
Bank, all details have been worked
out for that date. The bank has
been on a restricted basis since last
March. Final plans for the opening
have been developed rapidly in the
past few days.
Peoples Drug Stores preferred today
paid the quarterly dividend of S1.6212.
Lanstcn Monotype has also paid the
usual quarterly dividend of ST per
share.
An extension to March 9 has been
granted investment bankers for sub
mission of supplemental code proyi-
sions to N. R. A. The additional clauses
to be added to the approved code
concern fair trade practices. .-
Today's Exchange Trading.
Sale of 81 900 Anacostia & Potomac
SIS at IS opened today's business on
the Washington Stock Exchange. The
rest Of the trading was in stocks.
Potomac Electric Power sly per cent
preferred moved in several small lots
at 108 while Mergenthaler Linotype
sold at 261a and 26. Capital Traction
closed with 251z bid and 26 asked,
no sales being recorded.
John J. Ghingher, State bank COM
missioner, announced that the Mary
land emergency banking act, which
was passed by the General Assembly
On March 4, 1888, has been extended
for another year in order that num-
Der of banks now in process of re-
organization would not have to drop
their reorganization plans.
Net income of G. c. Murphy Co. for
year ending December 81, 1888, was
S1,335, ,294, after depreciation, interest.