Evening star., 1935-03-01
PEPC0 EARNINGS
ADVANCE SLIGHTLY
January Net at $404,237.
c. & P. Phone Profits
Down $4,518.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Net earnings of the Potomac Elec-
trio Power Co. were slightly higher in
January Of this year than in the cor
responding month year ago, accord
ing to the first financial statement for
1885, fled today with the Public Util-
tiles Commission.
Operating revenues amounted to-
$1,166, ,098.50, against $1,076,952.71 in
January. 1884, an increase of $780,
145.79. Revenue deductions called for
$679,315.87, as compared with the
considerably lower figure of S601,-
838.78 year ago, showing an advance
in operating costs of $77,47709.
Net revenues from operations were
reported as $486, 1872 SO, in comparison
with $475,11393 in January, 1884, an
improvement of $l1 ,668.70. Miscel-
laneous income was down slightly,
standing at 10,180.77, against SILL
1874 year ago, decrease Of ST.
607.19
Gross income stood at $496, 1862 IS,
compared with $486,90 "a, a gain of
$10,06152. Usual deductions from
gross took away $92, 2,72490, while $685.
0l644 was required year ago. an
increase in January, 1885, of $6,708.46
leaving a total net income for the
month of $4O4 23795, in comparison
with $400,88490 a year ago, a gain
Of $3,35205. While the figures show
the operating revenues were substan-
TALLY higher, the increased cost of
fuel somewhat larger pay roll and
other added expenses largely offset
this improvement in the final net re-
turns.
c. & P. Phone Net of s4,51S.
While operating revenues were much
larger and the number of telephones
in use in January was far above the
January, 1884, figure total net income
of Chesapeake & Potomac Telephone
Co. was slightly below the record of
the same month year ago, according
to the monthly statement filed late
yesterday with the Public Utilities
Commission.
Operating revenues in January,
1885, totaled $834,5 $40, against S804,875
In January, 1884, an increase of
around $4,000. At the same time
operating expenses amounted to $685.
592, compared with $556O20 last
year, leaving net operating revenues
of $245,9 in comparison with S248,-
s55 year ago. Operating taxes re-
duced net operating income, making
total gross income stand at $l82, 2,944,
against sl86,538 in aJnuary, 1884.
From gross interest charges of S24,-
OILS were deducted while $23,091 was
taken from gross year ago. These
deductions left a balance before divi-
dends of $158,929, against net earn
ings in January year ago of $163,-
AT, making small decrease of s4,518.
Washington was served by 190,259
telephones on January 81, as compared
with 1882 on the same date last
year. This was a net increase of
10,377 telephones over the past IL
months.
Telephone calls in Washington also
increased in January, there having
been 81 lit 900 calls made during the
month, as compared with 2c,063, 900
calls during January, 1884.
A. B. A. Review Cites Gains.
"Three factors of outstanding i'm
portance in banking during the past
month have been the almost unbroken
rise in member bank excess reserves
with the Federal Reserve banks;
sharp increase in bank clearings as
compared after declining steadily since
last October, commercial lending by
the banks shows an upward tendency"
the American Bankers, Association re-
view says today.
Business seemed to draw distinct
reinsurance from the Supreme Courts
gold decisions. Notwithstanding the
emphatic objections which have been
raised to the Governments monetary
policies, business has gone far toward
readjusting itself thereto. Whatever
its eventual success, the program has
now avoided the necessity for dis
turbing, if not critical, interruption
which doubtless would have left its
scars on industry and finance. Un-
certainty on this important issue has
been removed.
Bank clearings in January totaled |
slightly more than $25 500, 900, 900 as |
compared with $21, 400, ,000, 900 for the |
same month a year earlier. BY dis |
tricts, New York showed an increase |
OF 1876 per cent; Boston, 4.6; Phila-
delphia, 25.2; Cleveland, 190;. Rich
mond, 16.1; Atlanta, 172; Chicago,
1872; st. Louis, 1874; Minneapolis, 76;
Kansas City, 23.3; Dallas, 67, and San |
Francisco, 1862. !
"Tt would r,ot he c,,rrrie;,,o 70 IL, +ha
next few weeks we witnessed an upturn |
Of commercial lending, at the begin
ming of the year off somewhat more
than 5000, 100000 from their January,
1884, levels.
There are at least four major pieces
of economic legislation now before
Congress which are calculated to have |
q distinctly unsettling effect on busi- |
ness sentiment. These are the work. |
relief bill, with its appropriation of |
nearly s5,000,000,OO0; the social Sc
curity bill, the banking bill of 1895 and |
the Rayburn bill for the control of |
holding companies.
On the other side of the picture, |
by contrast, there is much that is en-
couraging.'
Hechinger Employees Insured.
Fifty-two employees of the Hechinger
Co. of Washington, engaged in the
building supplies business, have been |
covered with life insurance in amounts |
ranging from ST 1000 to S2,500, accord
ing to rank, through the adoption
Of S71,500 group policy by that |
organization. The Prudential Insur-
ance Co. OF America issued the policy.
Premiums for the insurance will be |
shared by the employees and the en-
ploying company, the policy being of |
the contributory type.
Roberts Talks on U. S. Bonds.
One of the principal speakers before |
the financial section of the American
Life Convention, at its midyear meet