Evening star., 1935-01-15
PEPCO D|SCL0SES
NET OF $3,983,S73
Total for 1884 Compared
With $4,375,617 Mark
in 1888 Months.
BY EDWARD c. STONE.

BY EDWARD c. STONE.
The Potomac Electric Power Co.
today reported total net earnings of
$685., $3.50 for the full IL months
Of 1884. This total compared with
$4,375,6l7.23 in 1888, decrease of
sssI, 1883.
The report, filed with the Public
Utilities Commission, showed Operat-
ing revenues OF $l2,127511.48, as COM
pared with $10,982, ,59936, an i'm
provement of S1,144,9l212. Revenue
deductions called for S7,2l9,523 .38,
against $5,82l, ,354.11, an increase of
sl,39S, 1927. leaving net operating
revenues Of $4.907 ,988.10, compared
with $5,161 ,24525 in 1888, a decrease
Of $253,25715. Miscellaneous income
stood at $l30,885 SO. against Sl4l,-
687.31, drop Of s10,70l.32.
Gross corporate income in 1884
amounted to $5,038,87409. as COM
pared with S5,302,83256 a year ago.
on $263, ,958.47. Deductions from gross
required $1,055, ,O00.79. against s927,-
2l5.33, an increase of sl27,785.46.
For the month of December the
power company reported operating
revenues of sl,o89, 1928 against ST.
029,27414 in December. 1888, an in
crease of $60,65819. Deductions from
operating income were S49l25.57
higher than year ago, leaving net
operating revenues of S446, ,772.69. as
compared with $435,24007. a gain Of
$l1,53267. Miscellaneous income was
S2,91162 lower than in December.
1888.
Gross totaled s456, 1861 .O4, against
s44s,240.04, up $8,62l. Deductions
from gross took s92.0231O. in COM
parison with $90,l462l. an increase
Of $1,S76.89. leaving December net
income of s364,83794, as compared
with 1888, ,093 SO. or gain Of S6,744.1l.
Munsey Elects Two Directors.
Stockholders of the Munsey Trust
Co. at the annual meeting this noon
added William T. Dewart, jr.. and
Thomas w. Dewart to the board of
directors. Both are New York busi-
ness men and are sons of the preSi-
dent of the trust company. Other
members of the board were reelected
Is follows:
Charles DENLY, William T. Dewart,
Charles B. Hawley, Gilbert T. Hodges,
william E. Horton, Harry M. Keyser,
Arthur G. Lambert, Wilton j. Lam
bert, c. H. Pope, c. D. Radcliffe, AL
fred P. Thorn, jr.; r. H. Titherington.
T. c. Willis and R. H. Yeatman.
The board organized at once by
electing the old officers and adding
two more. Those reelected were Will
liam T. Dewart. president; Wilton j.
Lambert, vice president and general
counsel; c. H. Pope, vice president
and treasurer: T. c. Willis, secretary
and assistant treasurer, and P. j. Nc
Nahon, assistant treasurer.
Mr.. Mcmahon was also elected
vice president, while r. D. Watkins
and A. j. Byrne were made assistant
treasurers. Both these bankers have
been with the trust company a long
time and were given deserved pro-
motions.
American Security Elects.
Stockholders of the American Sc
curity g. Trust Co. reelected the fol-
lowing directors at the annual meet
ing this noon:
C. A. Aspinwall. William L. Beale,
Gist Blair, Harry K. Boss, George w.
Brown, Charles A. Garry. William M.
Coates, William S. Corby. William w.
Everett, William j. Flather, jr.; M. G.
Gibbs, James M. Green, Gilbert H.
Grosvenor, J. Philip Hermann, G.
Percy McGlue, William Montgomery, |
Howard Moran, Clarence F. Norment, |
Newbold Noyes, John Saul, Corcoran
Thorn, S. Percy Thompson, Benjamin |
w. Thoron and John F. Wilkins.
Gain of 298,000 Phones Noted.
In letter received by hundreds of
Washington stockholders today, Wal
ter s. Clifford, president of the Ameri-
can Telephone g. Telegraph Co., re-
ported that during 1884 the Bell sys-
TEN had net gain of about 298,00 |
telephones, as compared with net |
loss of 100000 for the year 1888, al
though the average number of tele-
phones in service curing the year was
about the same as during 1888. At the !
end Of the year there were about 49,
100000 telephones in service, or IA
per cent less than the maximum de-
velopment reached in 1880.
The total number of toll and long |
distance calls handled during the year
was about S per cent greater than for |
1888.
Preliminary data indicate that, in
cluding the Western Electric Co., earn |
ings on American Telephone & Tele- |
graph Co. stock were approximately |
$5.85 per share in 1884, as compared |
with $3.50 per share in 1888. the |
report said.
Investment Code Real Help.
At meeting of II regional code |
committees of the Investment Bank
ers' Association at the Carlton yester- |
day 1t was reported that the codes are !
proving highly helpful in checking |
dealers in bad investments. Rollin A. !
WILDER. director of the National Code |
Committee, presided Charles A. Mead, j
Washington secretary of the commit
tee. reported marked progress in the
better business methods which have |
already resulted.
Paul v. Keyser of Washington, ma
tional committee counsel, took an ac-
tive part in the discussions, as did
Y. E. Booker, who is vice chairman
Of the Code Committee in charge of
this territory. The meeting was large
ly attended by investment dealers from
al parts of the country.
Riggs Stock Sells Higher.
Riggs National Bank common stock
sold at 213 on the Washington Stock
Exchange, new high mark on the pres
ent move. Capital Traction came out
today at 26.
In the bond division, ST 1000 Potomac
Electric Power 6s 1858, came out at
ITO, while $1,000 Washington Railway
q Electric IS changed ownership at
d01L HShar k;S ~ q elraI ,,r;oae ,uara