Evening star. [volume] (Washington, D.C.) 1854-1972, 1934-09-27
TRANSIT EARNINGS
CONTINUE TO RISE.
Pepco Revenues Also Gain,
but Increased Costs
Serve as Offset.
BY EDWARD C. STONE.

line CdDlJdl W. lieu lCS
August report with the Public Utilities
Commission today, showing another
sharp gain in monthly net earnings.
The Potomac Electric Power Co. also
filed its financial report for August,
the power company reporting a sub
stantial advance in operating income
but an almost equal increase in oper-
ating costs.
In the biggest vacation month Of
the year, Capital Transit reported net
profit of Sal, 431 OF, the street-car SyS-
TEN carrying 10,3O794l revenue pas
sengerS during the period under re-
view
Operating revenues totaled $677,-
1925, while operating expenses, taxes
and depreciation called for 1884,
363.7l, leaving net operating income
of S83,50355.
operating income in August
totaled Sl439094. bringing gross up
to S97,89449. The usual deductions
from gross required $50. 463 .48, leav-
ing the aforementioned net profit of
more than SAL, 900 for the month.
For the first eight months of the
year the Capital Transit Co.'S operat-
ing revenues amounted to S5,537, 62l OF.
Operating expenses, taxes and depre-
citation totaled $4539,629.l3, which
left an operating income for the pc
Rod of 1897, 99l ga. Incorporating in
come was S111.35421.
Gross, less operating costs, was re-
ported as S11O9, 346.15. Deductions
took away S454,276.17 leaving the
splendid net income for the eight
months of $685., 069 SO, as the result of
carrying 83.975, 260 revenue passengers
on the street cars and busses.
Pepco's Net s2sO,5s2.6O.
Operating revenues of the Potomac
Electric Power Co. in August totaled
1866. 1854. against S849, 928.34 in
August, 1888, an increase of Sl15998.
At the same time revenue deductions
called for S59892l27 as compared
with S4841l334, or an increase of
S117,80793, the report to the Utilities
Commission said.
Net operating revenues for August
amounted to 1857, 00507 as compared
with S365,8l5 a year ago, or gain Of
$l.19007. Miscellaneous income was
S10935.40. making gross stand at
S377. 940.47 in comparison with S376,-
552.95 a year ago.
August deductions subtracted $751;
40787 as compared with SIT, 1910
last year, an increase of S10,26577.
These deductions left a total net in
come of 1920, 532 go against 1929 $50 IS,
or a decrease of S8848.25.
In the eight months period Potomac
Powers operating revenues reached
the sum of S7,963, 647.16 against ST.
235, SSH 3 last year, gain of S728.-
095.73. Revenue deductions totaled
S4745,7 1884 against S3,770, 1882, an
increase of S974.87412.
Net operating revenues for the eight
months stood at S3,2l7,93322 in COM
parison with S3,464,7ll61 year ago,
or a decrease Of S246,778.39. In the
same period the power corporation had
a miscellaneous income of s7.04413
Gross amounted to S3,306, 487 80
against $3.50, 30982 last year. a de-
crease of S253,82252. Deductions re-
quired s69l,785.79 in comparison with
S609,l95.84, an increase of S82, $50 95.
These deductions from gross left a
total net income for the eight months
of S2,614, 701.51. This figure compares
with S2,951,l1398 a year ago, or a
falling off of $336,41247.
Bonds Lead Exchange Trading.
Bonds were in heavy demand on the
Washington Stock Exchange today,
the recent strength in the senior is
sues being maintained.
Capital Traction SIS, which have
been a feature of the local market
for several days. came out again to-
day at 81, unchanged from yeSter-
days close. Three $1,000 sales and
one $500 sale were recorded. The
bonds closed with 81 bid and 90 asked.
Potomac Electric Power Consolidated
IS were also active. These sold in
three $1,000, one $4,000 and one $4,000
denomination, all at sos. The bid
for them yesterday was 104l2, so buy
ers had to reach for them in today's
market.
Washington Gas SIS. 1860, were
strong today. $1,000 changing owner
ship at 108l4. This sale completed
the bond trading for the day and in
terest turned to stocks
Capital Transit stock came out at
28i2, new high mark 1t was not
only the highest price at which the
new transit stock ever sold. but was
also higher than the old traction stock
has sold in very long time
Mergenthaler Linotype appeared on
the board at %, the same price as
noted in other recent transfers.
Bank Directors Elected.
At the annual meeting of the stock
holders of the Bank of Commerce &
Savings. held in Alexandria this fore
noon, the following directors were
elected for the ensuing year:
Maurice D. Rosenberg, Joseph San
ders, Irwin OwingS, John NJ Riordon,
Thomas j. Groom, Joseph H. Milans,
DR.. Clarence A. Weaver, Thomas N.
Beavers, William L. Bush, J. E. COL
hflower, E. T. Chewing R. L. Elliott,
A. S. Galley, Harry E. Mayer, ]. F.
Maury, Vernon G. Owen and Frank
OWingS.
The election of officers will take
place at the next regular meeting of
the board at the banks Office at
Seventh and streets in this city.
Bankers to Push Campaign.
At special meeting of the District
Bankers Association, held late yes
terday it was voted to carry on
two weeks advertising campaign in
the interest of the housing renovizing
drive in Washington.
The bankers are anxious to CO.
operate in every way in extending
loans for this purpose and in render
Ing other assistance.
Another meeting of the association
will be held tomorrow afternoon at
the Willard Hotel at 4 o'clock, when
Government officials will be present
to discuss the securities act as it re-
lates to banking.
SH0RT.TFRM SECTIRTTTEc