Evening star. [volume] (Washington, D.C.) 1854-1972, 1935-08-30
.PEPCO REVENUES
WELL ABOVE 1884
Operating Total for July Is
TIT Per Cent Ahead
OF Year Ago.
BY EDWARD C. STONE.

IL
the monthly financial statement flee
with the Public Utilities Commission
today.
At the same time the cost of opera
lions also advanced, operating revenue
deductions requiring S681, 428.46. COM
pared with $623,69l.74, an increase Of
57.736 70, or 9.25 per cent
Net income from operations, after
the above deductions, amounted tc
1887 .92479 in comparison with $685.
551.18. In July, 1884, a gain of $l9,-
1851, or 526 per cent.
The power company reported non
operating income as practically the
same as last year. Gross corporate
revenues stood at 1897, 754.25, against
$379,070.72 a year ago, up $l8.683.53
Deductions from gross called for
$96,29145, compared with S66,867.l4
last year, an increase of $9,424.3l, or
1926 per cent, and leaving a net in
come in July of 1901, 462.80. Net in
come in July, 1884, totaled 1922, 03.58,
making a gain this year OF $9,257.22,
up BIT per cent.
much the same marked advance that
Is being reported in many other places
all over the United States. The in
crease in the kiloWatt production
was also factor of some Importance
in the increase in operating costs.
Bill Collections Jump.
Another interesting detail in the
monthly report relates to bill collec-
tons. The number of uncollectable
bills this year was SO per cent smaller
than at the same time a year ago,
presenting a clear picture of the f.
nancial recovery of many individual
patrons.
The Potomac Power Co. also pre-
scented a financial summary covering
the first seven months of this year.
During this period, operating revenues
amounted to S7,612,311.6l, while the
figure a year ago totaled S6,997, 1902,
gain so far in 1885 of GA ,590.79, or
nearly per cent.
= Revenue deductions required
s4,717,653.55. against last years total
of S4,146,792.67, an increase in eX-
penses of $50, 86088, or 1877 per
cent to date this year.
Net income from operations stood
at $2,894,658O6. compared with
$2,850928.15, an increase of S43, 1891.
After all the usual deductions to meet
interest and other requirements, the
power company reported total net
income of s2,317.222.34, against the
slightly higher figure last year of
S2,324, 1881, a drop in the seven
months of S6,946.57.
Commissions Duties Expanded.
Among the important new duties
added to those already entrusted to the
Securities and Exchange Commission,
which will make that agency more
dominant than ever in regulating the
financial life of America, are the fol-
lowing:
Administration of the public utility
holding company bill.
Investigation of investment trusts,
with a report to Congress on or before
January 4, 1887, recommending new
legislation governing their activities.
A study of accountancy of the utili-
ties, with power to draft uniform prac-
tices for companies within scope of
the law.
Examination of the corporate struc-
lures of holding companies, with a
view toward simplifcation of such
systems.
A study of holding company systems
with a view toward determining the
sizes, types and locations of COM
panies which can operate most eff
GENTLY and best harmonic the inter-
ests of the public, investors and con-
SumerS.
Dividend Dates Announced.
The regular quarterly dividend of
e1.6212 on Peoples Drug Stores pre-
ferred stock will be paid September 16,
to shareholders of record on August 81.
The Norfolk g. Western Railway will
pay the regular quarterly dividend of
So per share on September 10, to
stockholders of record August 81.
The recently declared quarterly divi-
dend of 25 cents per share on North
American Co. common stock will be
disbursed on October 10 to holders of
record September /. On the same date
rs cents per share will be paid on the
preferred stock.
Jules S. Bache, senior partner of
the brokerage house by that name
which has an Office in the Washington
Hotel, has just returned from Europe.
In his opinion war is inevitable in Eu-
rope. Frank J. F. Thiel is manager
of the firms Office here. A few days
ago he distributed a New York cir
cular to clients which stated that the
utility stocks should not be sold ION
snap judgment" as so many things
Of Importance might happen before
1888.
T0day's Trading on Exchange.
Capital Transit SIS sold at 971s on
the Washington Stock Exchange to-
day as the market opened Wash
. ington Railway & Electric As came
out at 1854 on $1,000 and $4,000
sales.
The remaining quiet trading was
in stocks, being confined to Potomac
Electric Power SIX per cent preferred.
Five small lot sales were recorded,
the market opening at 1881 and
closing at 1875.
Z Today's session was the last until
next Tuesday, there being no Saturday
sessions in the Summer and Labor
day meaning no session next Monday.
The local market is practically never
open on days when the New York
Exchange is closed.
Financial District Notes.
President Roosevelt has signed the
Frazier-Lemke bill providing a mora
torium for three years on farm mort
cages, the railway retirement act and
the tax measure which accompanied it.
Western Maryland Railway reports
for seven months ended July 81, 1885,
net income of $452,62 after taxes and
charges, equal to $2.55 share on
177,420 shares of per cent first pre-
ferred stock on which no dividends
have been paid. This compares with
S568,828, or $500 a share on 7 per