Evening star., 1937-12-27
PEPCO EARNINGS
TOP 1886 LEVELS
Total for II Months Hits
$4,535,O90, or 1901
Per Cent Higher.
By EDWARD G. STONE.

by EnN AMI SloA>L.
Net earnings of the Potomac Elec-
trio Power Co. in the first II months
Of this year amounted to S4.535, ,090.13,
as compared with S4.l22,328.37 in the
like period year ago. an increase uf
s4l2. 1918 or 1901 per cent, according
to the financial statement filed today
with the Public Utilities Commission.
Operating revenues in the II months
totaled sl3430, ,3l9 90, a gain of $57e,-
39325. or 4.5l per cent. At the same
time operating costs went up, reaching
5000, ,42990, an increase of over
s220,000, or 282 per cent. and leav-
ing net revenues from operations OF
SIS 399, ,89972 an increase Of S358,-
55O65 and an improvement Of I'll
per cent.
Other revenues brought gross up to
s5.465.ll38l. The usual income de-
ductions for bond interest and divi-
dends called for S930,02362, which
was $ll7.32a under the figure a year
ago
The power company also reported
earnings for November, showing op-
tIdlulS lev GllutS VI Sl,-tJ.- y tSOf, d
gain of s5s,63S.3l. or 492 per cent.
Operating revenue deductions required
s7149288o. which was S23.876.2S
lower than last year. This left net
operating revenues of s534.35074,
gain of sa2 5055a. or ls per cent
Gross totaled S534,33539 from
which interest deductions took SOL
0ls64, leaving net income for No.
venlber of s443.335.3o. an increase
over the same month in 1885 of S64,-
1921, or 1921 per cent. making the
month one of the very best of the
year.
B. 4 O. November Net Lower.
Net operating income of the Balti-
more g. Ohio Railroad took a sharp
drop in November. amounting to
S8oS 327, against S296S 7ol in No
vember, 1886. and decrease of 81
07n.374. it was announced today
November freight revenue totaled
S9,977,297. a decrease of S2,400,73l.
At the same time passenger revenues
showed a gain. amounting toS930, 754,
an improvement of S70263 over the
same month last year. Mail revenues
disclosed gain of over $4,000. but
express income dropped more than
$4,000.
Baltimore {; Ohio officials made
fine showing in holding down operat-
ing expenses. In various ways they
cut operating costs to S9.673, 730.
which was sl,l58,9 ,996 lower than last
year In the same month. The lower
operating revenues and an increase
in various deductions resulted IN the
lower net earnings.
The showing for the first l l months
of this year is far better than for
November Net railway operating in
come for this period totaled S24 206,-
$40. in comparison with S27,57 953,
decrease of only S3.365. .3O4. Substan-
tial increases in earnings were cut
down by still larger increases in rum
ming expenses. the report disclosed.
Sales in Seasonal Gains.
The Federal Reserve Boards month
ly review states that distribution of
commodities to consumers, which
earlier had been maintained. declined
slightly in November. There was a
slight decline in sales at department
stores. and mail order sales decreased
considerably. while sales at variety
stores showed little change. Prelimi-
nary information for the first malt of
December indicates that department
store sales increased by approximately
the usual seasonal amount.
showed a small decline. but for the
first three weeks of December re-
mained somewhat over Sl,000.0 900 0O0
The increase in demand for currency
during December has been smaller
than usual. rejecting largely the ef-
fects of the recent sharp decline in
business activity and pay rolls, the
review adds.
Total value of construction con-
tracts awarded, as reported by the
F. w. Dodge Corp, showed little
change in November and the first
half of December. Awards for pri-
vately-hnanced projects declined. re-
fecting chiefly a further reduction in
residential building. while contracts
for publicly-fnanced work increased,
the bulletin reports.
Would Increase Stock.
The Hagerstown Industrial Savings
& Loan Co.. Hagerstown, Md. has
filed a registrat ton statement with the !
Securities and Exchange Commission |
under the Securities Act covering !
1900 shares class A common stock, /
no-par value. to be offered at Sl00 |
per share. Proceeds will be used for |
working capital. Southeastern Invest !
ment Co., Inc, will be underwater.
New York dispatches report that |
Olavarria e. Co., Inc, distributed a |
Christmas bonus equal to minimum |
of six weeks salary to all employees.
Lobo e. Co., members of the New |
York Coffee g. Sugar Exchange. Inc, |
distributed like Christmas bonus.
Collins &; Aikman Corp. distributed |
Christmas fund among 5000 en-
ployes. according to an announcement !
made by w. G. Mccullough, president, |
Maryland Bank Pays S256, 1000.
Checks agsregating $2569OO have
been mailed to depositors and creditors
of the Baltimore County Bank. Tow
son, Md, representing third distribu-
ton on claims against the institution
since it closed in 1888. The present
distribution Of about 25 per cent raised
the total payment to date to 81 per
cent.
Postmaster General Farley announc-
ed yesterday that postal revenues for
the first % days of December were ap-
proximately per cent higher than for
the same period year ago. which rep
resented the previous high for Christ
mas mail business both in revenue and
volume.
Permits issued in November for new
residential building were 23.7 per cent
lower in number and 26.5 per cent
lower in cost than in November last
year, Secretary Of Labor Perkins an
nounced. Figures are for 1902 cities