Evening star., 1937-03-27
POTOMAC POWER
!. INCOME MOUNTS
February Net Earnings of
S422. 9O2 Show Gain of
1920 Over 1896.
BY EDWARD c. STONE.

BY EDWARD c. STONE.
Total net earnings of the Potomac
Electric Power Co. in February
amounted to S422 oo2a7. as compared
with s3T7,O4lI2, an increase of s45.-
s6l.75. or 1916 per cent, according
to the monthly statement Just filed
with the Public Utilities Commission.
Operating revenues revealed sub
stantial improvement. with a total
of sl,2l2,9l3.58, an increase of s56,-
q2385. or 5 per cent Operating eX-
nenses called for Sill 1904, a rise
in operating costs of S23.92286, or
34s per cent This left February
net operating revenues at S501 ,o83.l4,
a gain of s33 .00O99, or 7.o5 per cent.
February gross stood at S506. 1913,
a gain of more than $4,000, or GIT
ner cent. Usual interest and other
deductions from gross required S85,-
eqO.26, leaving the above stated SUBJ
stantial upsving in net earnings.
The Potomac Electric Power re-
ported total net income for the first
two months of the present year as
1895 ,670.7s. against s822, ,347.42 in
February, 1886, gain of $l13,32336,
or 1878 per cent.
Capital Transit Cuts Losses.
The Capital Transit Co.'S Febru-
ary statement filed with the Public
Utilities Commission, revealed sub
stantial Improvement during the
month. While the net income figures
were in the red. the company made
a notable reduction in the losses.
Operating revenues climbed to
1881, 766.20, an increase of S42,256.9o,
or 5.4 per cent. Operating expenses
took S657 99465, operating costs being
lowered by sl7,019.56 during the
month. Taxes totaled S55,353.17, up
s5,37l.e7, or 10.7 per cent, while de-
probation amounted to s90,675.05,
ss,37Ooo higher than last year and
rise of 10 per cent.
Total operating expenses. taxes and
depreciation amounted to 1904, 4,022.S7,
which was a decrease of S3,277.5O,
leaving a total income from operations
of s27,743.33, up S45,636.40. Deduc-
tions from gross required S54,663 70,
against s53,851.12 year ago, leaving
a net income in the red of S24,3l8.95,
as compared with much larger
deficit a year ago of S6T.251l3, the
difference being $40, ,932.I8, or an i'm
provement of SO per cent. Revenue
passengers in February numbered
12,756,655, drop from last year of
1l4.483.
In the first two months Of 1887
Transit's net income presented def
cit of S20,245.22, against a deficit
year ago of S79,047.88, an improve
ment in earning of S58. 8.80266 or "A
per cent. Operating revenues to-
tailed 81 ,727.25o97 in comparison with
$1,623,524.53, an advance OF Sl03,-
1854 and 6.4 per cent gain. The
total of 26,377,110 revenue passengers
was 1928 more than were carried
in the like period q year ago, the
report dLscloses.
Willis Given Trust Duties.
Directors of the National Metropoi-
tan Bank at their March meeting
elected Stanley D. Willis an assistant
trust officer, President George w.
White announces. Born in Washing
ton December IT, 1888, Mr.. Willis was
educated in the grade and high schools
here He took his lay degree at the
Georgetown Law School, class OF 1910,
and has been active in the practice
of law since that time.
He was formerly partner of Jack
son H. Ralston and has been con-
nected with the Metropolitan Bank
for about Is years. A member and
past president Of the Manor Country
Club, he is also q member of the
Washington Board of TraG-, Society
OF Natives, District Of Columbia and
American Bar Associations and secre-
tary and director of the Fussell-Young
Ice Cream Co.
Mifflin Blackstone, for the last year
agency manager IN this territory for
the General American Life Insurance
Co., st. Louis, Mo, has been appointed
. general agent of the company for
Washington and Virginia. Before
coming here last year, Mr.. Blackstone
was in the life insurance business
In Baltimore and Pittsburgh Prior
TO entering the business, he managed
hotels in Washington, Pittsburgh and
Florida
Sales Widely Distributed.
Although the wholesaler is usually
considered a merchant selling to re-
tailers for resale, less than half of
his total sales are made in this man.
ner, it was revealed in a business
report. issued today by Director Will
liam L. Austin, Bureau Of the Census.
An analysis Of l41 ,296 establish
ments shows their 1896, ,567 900
sales distributed as follows: Asa per
cent to retailers for resale; is per
cent to household consumes at retail;
298 per cent to industrial users; 20.2
per cent to other wholesalers and 81
per cent to export buyers in foreign
countries.
These figures are based upon the
1885 operations of 1913 per cent of
all wholesale establishments in the
United States, accounting for Bis
per cent of the total sales.
Financial District Gossip.
The Washington Clearing House
reports total clearings of s22 ,966 945.87
for the week ended March "a, which
compares with S19.144,48722 for the
corresponding period last year, an
increase of 26 per cent Compared
with total of s27.011,l ,l60.84 for the
previous week clearingS decreased 17.6
per cent.
Easter trade in the local shipping
district is winding up in blaze of
glory, judging by the crowds in the
stores and comments from merchants.
The past few days have been nearly
perfect for shopping. Substantial i'm
provement over last year is assured
for the Easter period
Dollar value of sales on all registered
exchanges in February was slightly
higher than III the preceding month
and was the largest since the S. K. c.
began compilation Of the figures in
October, 1884