Evening star., 1937-03-22
POTOMAC POWER
OUTPUT ADVANCES
KiloWatt Hour Sales for Feb.
ruary Up $3.50 From
Record Year Ago.
BY EDWARD c. STONE.

BY EDWARD c. STONE.
Another indication of business prog
ress in the Capital comes from the Po-
tomac Electric Power Co.'S February
report on kiloWatt, hour sales, which
revealed gain of 6.25 per cent.
The power companys kilowatt sales
in the District of Columbia in Feb
ruary totaled 52,776, ,655, in comparison
with 49,674,3l9 kiloWatt hour sales in
February, 1886, or an increase of
3,102336 hours.
The Potomac Electric Power report
Is in line with other business barom-
eters which revealed substantial Feb
ruary improvement. With a total of
S92, 1892, ,370.58 in local bank clearingS,
there was a gain for the month of
more than S14000,000 over the same
month year ago.
Postal receipts amounting to $751;
899.81 revealed February advance
over the like 1886 period. Retail trade
displayed the same upward trend, dol
lar sales volume stepping up 40 per
cent above the mark set in February,
1886.
The Chesapeake & Potomac Tele-
phone Co.'S combined business indica-
tors back up the other barometers in
supplying economic optimism, there
having been a gain of l,178 telephones
in service at the end of February,
while average daily originating calls
numbered 9l0,026 compared with
loi 11c in 1a Il
last year.
So far in March retail trade in the
Capital has been well ahead of the
like period in 1886 Weekly reports
on bank clearings in the District have
also been much higher than last year.
These two indicators alone are suffi-
cient to prove that the first quarter
of 1887 will far surpass 1886. And
so far as Washington is concerned,
there is nothing on the horizon right
now to change this happy outlook
for the second quarter.
Railroad Situation Improves.
The railroad situation has improved
a great deal, says the United Business
Service in its report, out today. The
following six developments are cited
as the most important factors behind
this improvement:
Pension plan agreement. The new
plan for railroad employe pensions
which was recently announced will
cost the railroads considerably less
than the provisions of the railroad re-
tirement act, and further savings will
result from the elimination of private
pension plans.
Peace in steel industry. The agree
ment reached between the major steel
companies and labor has been con-
structive from the point of view of
railroad traffic. The large volume of
orders on the books of the steel pro-
ducers promises to maintain a high
rate of operations, and correSpondingly
heavy shipments, for several months
to come.
Coal strike averted. Of similar
effect has been the smoothing of
labor difficulties in the coal industry.
Coal is an extremely important item
IN the railroad traffic picture, con-
tributing almost 20 per cent of total
1relgnI revenues IN 1886.
Revival in capital goods lines With
such lines as lumber, cement, railroad
equipment, heavy machinery, etc,
showing wide improvement this year,
s the implications with respect to rail-
road traffic volumes are definitely
favorable
Prospective wage settlements. AL
for 20 per cent pay raise, they will
probably be satisfied with a per
cent increase. The I. C. C. is likely to
grant compensating rate readjust-
ments.
Loss of surcharges Offset. The rise
in traffic since the first of the year
has produced sufficient revenues to
offset surcharge losses. Total net
operating income of class l roads in
March is likely to be 100000 to
S10,000,000 above last year.
Bankers to Attend Dinner.
Several of Washington's leading
bankers will attend the dinner tonight
at the Shoreham Hotel given by
Washington Chapter, Chartered Life
Underwriters, in observance of the
tenth anniversary of the founding of
the American College of Life Under
writer's
James F. Bridges, Riggs National
Bank, was winner of the class A bowl
ing honors in the contest Saturday
held by Washington Chapter, Ameri-
can Institute of Banking Glass B
honors were won by w. S. Dampier of
the Bank of Commerce & Savings.
Honors in the doubles were taken by
James F. Bridges, who had already
won the class A honors, and James A.
Bruen of w. B. Hibbs & Co. In the
ladies contest, Miss Myrtle Lewis of
the Liberty National Bank won the
cup or whatever the prize happened
to be. Great excitement prevailed
among the institute members while
the contest was in progress.
Frequenters of the New York Stock
Exchange board rooms today wit
messed an opening considerably lower
than Saturdays close Chrysler showed
one of the sharpest drops over Sum-
day, United States Steel and several
others also revealed lower quotations.
Lack OF progress in settling the motor
strikes was one of the causes assigned
for the weak opening.
Washington members of the Invest
ment Bankers Association have Just
received the annual directory. 1t in
cludeS, in addition to all the members
names, copy of the associations con-
stitution and bylaws, officers and
governors, national committees, group
committees and copy of the Group
Committee constitution. 1t is the
most complete annual yet issued.
Railway Common Sells at S725.
Washington Railway & Electric COM
mon stock sold on the Washington
Stock Exchange today at S725 share
for l0-share lot. 1t was the first
sale in the issue this year. The stock
ic o1co bv 70 hiu,ect nod CO