Evening star., 1937-08-27
TRANSIT INCOME
MOUNTS SHARPLY
July Deficit Is Far Below
Year Ayo-Pepco Net
Shows Big Gain.
BY HAROLD B. ROGERS.

cent improvement IN income over July
last year, according to the monthly
report filed today with the Public
Utilities Commission.
Potomac Electric Power, as was to
be expected, registered big gain over
July Of last year and also during the
drst seven months of the year, ac-
cording to its report.
Transit net income increased from
deficit OF $19.08044 last July to a
deficit of only $9,481 .48 this July, an
improvement of s9,5985o, or 50.3 per
cent.
Operating revenues of transit rose
from s874,l29.86 il July, 1896, to
1887 1926 this July, gain of $12,-
995.4o, or is per cent. Operating ex-
penses fell off from $7O2,35542 in
July, 1886, to s67s, ,563.5s this July, a
decrease of 80 per cent.
Operating income of the company
Jumped during the same period from
S33,21s.26 to $45,830.74, a gain OF 38
per cent.
Revenue passengers fell off, how
ever, from 14,22s,245 in July, 1895, to
13,l63.437 this July
Net income increased from s5,03494
for the first seven months of 1886 to
Sll2,7038 83 for the similar period this
year, a gain of s107,66889
Power Sales Jump.
Potomac Electric Power Co. re-
toH i,oc iy, Ia Nf AL
tricity. Kilowatt hours jumped from
56,76l,676 in July 1886 to 6l,s31,045
In July this year, gain of more
than 100000.
Net income of the company in
creased from s362.25 in July, 1896,
to S377551.33 this July, a net gain
Of 4.22 per cent.
Operating revenues for the same
periods jumped from sl,l57,l77.2O to
$l.217, ,603,52.
Net income of the company rose
from s2,567, ,61295 for the first seven
months of 1886 to s2,926.37612 for
the similar period this year, q gain
OF 1897 per cent.
Operating revenues jumped for the
comparable seven-months period from
$8,151, 1874 to s8,523, ,203.2l, a gain
Of 4,56 per cent.
Ten shares of the new Washington
Gas Light preferred stock sold today
on the Washington Stock Exchange
at 9ei2 as compared with the 95 at
which the stock first was offered to
the public. American Security e.
Trust Co. stock went at 290; and after
call three blocks of Potomac Electric
8 per cent preferred sold at ll3.
O'Connor to Speak
Controller OF the Currency J. F. T.
OConnor will deliver the principal
address at the educational dinner Of
the Washington Chapter, American
Institute of Banking, Wednesday
night, September 8, at the Willard
Hotel.
This was announced by Paul J.
Seltzer. chairman Of the Educational
Committee of the chapter, who will
preside. 1t will be the opening of
the thirty-sewnth active season of
the chapter.
Other speakers will include William
H. Laughlin, chapter PRESIDENT
Thomas J. Groom, president OF the
District of Columbia Bankers Asso-
citation; Joseph R. Fitzpatrick, first
vice president of the chapter; John
M. Christie. chief consul Of the chap
ter; Raymond B. Dickey dean of the
faculty, and George B. Earnshaw.
membership chairman.
Attending will be the honored
guests. chapter officers. Board of Gov
ernors, the faculty, Board Of Con-
suls, Membership Committee and COM
mittee chairmen.
Phone Gains Shown
The Chesapeake & Potomac Tele-
phone Co. showed gains in both op-
Grating revenues and in number Of
telephones in July, according to the
monthly report filed with the Public
Utilities Commission.
Operating revenues jumped from
s87l,S47 in July. 1896, to $9l4,348 in
July Of this year.
For the first seven months of this
year operating revenues were $780,
743. as compared with $6 ,203, ,e24 dur
ang the same period in 1886.
Gross income amounted to $918,4O4
In July. while expenses, including
taxes, were s71s,26s, leaving a balance
before dividend OF $l37,138, as COM
pared with sl38,54e in July, 1886.
Washington was served by 22O,069
telephones on Jul 81, 1887, a net
gain of Al telephones over the previ-
ous month.
The cost Of telephone plant in serv-
Ice in July was s40,e33, ,59s, accord
Ing to a statement of Charles A..
Robinson, general manager Of the
company. Telephone users in Wash
angton made 23,92o,000 calls during
the month, as compared with 22,552,-
600 during the same period last year.
Bank Club Plans Dance.
The Fall dinner dance of the Nor.
rs Plan Bank Club will be held Sat-
urday night at the Indian Spring
Country Club.
This event is the semi-annual dance
given for the directors, officers and
employees of the bank.
Arrangements have been made by
Mabel d. Driver. Vera w. Rhine and
Ferdinand E. Walter. Among the
out-of-town guests will be several
bank officers who are prominent in
the Morris Plan Bankers Association.
Jerome F. Horwitz, associated with
Harold D. Kraft. manager for Provi-
dent Mutual Life Insurance Co. of
Philadelphia, is receiving congratu-
aations of his friends and associates
on official announcement by the COM
pany that his persistency record,
ranking among the leaders of the
entire company. stands at CTS per
cent over the past three years.
Robert v. Fleming, president Of
Riggs National Bank, left today for
vacation at his new cottage, con-
structed this year, at Rehoboth Beach,
Del.
Frank Harman. jr, assistant vice
hrasidont of HoroiItoy, Nat}opol no~b~