Evening star., 1936-02-28
PEPCO EARNINGS
INCREASE SHARPLY
Reflect the Improving Trade
Conditions and Greater
Electricity Demand.
RY EDWARD C. STONE.

BY EDWARD C. STONE.
Rejecting constantly improving
business conditions in the Capital. as
well as an increased demand for elec-
tricity because of exceptionally bitter
Winter weather. the January financial
report of the Potomac Electric Power
Co., filed with the Public Utilities
Commission, reveals sharp increase
In net income of Sal. 1.068.35.
January net income totaled $445,-
30630 in comparison with $404, ,23795
In January, 1885. making a per-
centage gain of 1915. The percentage
figure is of special interest owing to
the estimate already made be ma
tional authorities that this years elec-
trical demand for the whole country
will be 7 per cent better than last
year. The Potomac Power figure for
the first month of 1886 is far ahead
of the semi-guess put out on national
probabilities.
Operating revenues totaled $l,257,-
83756, an increase of $91 1906, or
nearly per cent over January, 1885.
At the same time revenue deductions
for operating expenses called for
$721, 1921, an advance of $42,416.24.
or 6.24 per cent.
Net operating income amounted to
$536,105.45 in January, 1886, sub
stantial increase of 9,32282 or 10 per
cent. Incorporating income was
slightly lower than year ago. De-
auctions from gross totaled 500, 9,146.-
n, up $6,421.87, or nearly per cent.
The notable gain in Potomac Pow
er's net earnings is in line with in
creases in January net earnings al
ready reported to the Utilities Com
mission by the Washington Gas Light
Co., Georgetown Gas Light Co. and
the Washington Rapid Transit Co.
Collections Lag in District.
Collections in Washington depart
tnent stores in January were slower
than in other fifth district cities. the
Federal Reserve Bank of Richmond
reported today. 27 per cent of receiv-
ables due the first of the month being
paid. Payments during the month in
the whole district averaged 80 per cent,
Richmond leading with BAT per cent,
followed by Baltimore with Bis per
cent.
AS previously noted, retail trade in
Washington was 143 per cent better
than last year. 1t was up 1873 per
cent in Richmond and 81 per cent in
Baltimore, with an advance of more
than II per cent in the whole area the
report covering 81 department stores.
Stocks on hand in Washington stores
were per cent higher than at the end
OF January, 1885, 7 per cent higher in
Richmond and 4 per cent higher over
the whole territory. Stocks on hand
were lower in all cities than at the end
OF December, off 3.4 per cent in the
Capital
Building Officers Banquet.
Members of the District of Columbia
Building and Loan League, which is
composed of all the building and loan
associations in the city, held their sixth
annual banquet at the Mayaower Hotel
last night, with an attendance of more
than 400, including many guests.
Commissioner Hazen was present and
spoke briefly.
In the enforced absence of President
Robert E. Buckley, Vice President Ar
thur G. Bishop presided. George H.
OConnor acted as master of cere-
monies during an unusually fine enter
tainment program, which had been
arranged by Fred A. Smith. The eve
ming concluded with dancing. Nor
ton Bodfish of Chicago was among the
special guests introduced. He brought
enthusiastic greetings from the ma
tional league.
The Banquet Committee consisted
Of Rudolph w. Santelman. Fred A.
Smith. William S. Quinter, Charles w.
Schafer, Frank j. Ehlers, William
Camp and Raymond K. Espey. Carl
Bergman. president of the local asso-
citation last year, was among those at
the head table, as was Edward c. Baltz,
now second vice president of the ma
tional association. The record at
tendance shows how the District
League has expanded in the past year
or two.
Pennsy Dividend Tomorrow.
Stockholders of the Pennsylvania
Railroad will tomorrow receive checks
for the 203d dividend in the company's
history, $13,167,696, to be paid to
226,336 stockholders.
The summary of the annual report
contains a condensed income account,
which shows that the railway operat-
ing revenues were 1857 1872, ,186, an in
crease over 1884 of Z per cent. All of
the principal items of revenue except
express showed increases, passenger
earnings registering a gain for the
second successive year.
Railway operating earnings increased
per cent, chiefly due to higher wages
and fuel costs. Taxes continued to
gain and absorbed nearly Z cents out
of every dollar of revenue. Net in
come for the year was S23,849, 1893, an
increase of $2,215,833.
T0day's Trading on Exchange.
Mergenthaler Linotype sold at 471s
on the Washington Stock Exchange
today, fractional gain over the last
previous transfer. Real Estate Mort
gage g. Guaranty preferred figured in
a l00-share sale at AZ and Washing
ton Loan & Trust Co. stock sold at
225. In the bond division, 81, 900 Po-
tomac Electric Consolidated SIS changed
hands at 1001a. =.
National Dairy Products Corp. has
called for redemption on April /, at
1924, $1,23l, 900 of its 5As deben.
lures due 1948. Debentures are being
redeemed In accordance with the re-
quirements Of the purchase fund for
such debentures.
Bank clearings In Washington for
the week ending February 26 were 81
per cent ahead Of the corresponding
week last year, indicating that business
has picked up rapidly with the return
OF warmer weather.
First Bonus Bonds Printed.
The Bureau of Printing and En-
craving Of the Treasury Department
has started printing the baby bonds