Evening star., 1938-07-30
CAPITAL TRANSIT
EARNINGS HIGHER
Gain in June and Half Year
Scored-Potomac Power
Net Income Lower,
BY EDWARD C. STONE.


S39,6l8.5l, an increase of S2,O8OO6
over June, 1887, according to the
monthly statement just filed with the
Public Utilities Commission.
The increase was due to higher op-
Grating revenues and a cut in ex-
penses. Operating revenues totaled
1852, ,892.58, up S19,415.03 Operating
expenses required s676,216.67, a re-
duction of $10,95387.
Taxes in June called for $87,462 l8,
which was $19,l4678 higher than last
year, while depreciation stood at Sl02,-
86824. an increase of $7,30O.58, which
left an operating income of $685.
345. 48, an improvement of $3,92l54.
Deductions from gross totaled s59,-
623.42 Revenue passengers in June
numbered 1868 POT, drop of 1863 $40
from June, 1887
The Capital Transit Co. also filed
the half-year statement. disclosing a
gain in operating revenue of Sl16,-
490.95 and rise in operating expenses
of SSl,955.65 and of S79,89922 in
taxes. Total depreciation of S6Oe,-
1929 represented an increase of
$50 .50O84.
Operating income stood at S50l,-
98l.43, more than $4,000 above the
first half of 1887. Gross totaled over
1921, 900 and deductions $357194.44,
months of $164.363 so. an increase so
far this year of $42,17773, or "a per
cent. The indicated uptrend in earn
ings makes the gain highly important.
Revenue passengers on the COM
pany's cars and buses numbered 81
2o3.7S0. decrease OF 2,368058, or
% per cent, the report revealed.
Pepco Earnings OFF Slightly.
Net income of the Potomac Electric
Power Co. in June totaled S348156.7l,
a decrease of S24.6732l from June of
last year, according to the monthly
statement flied with the Public Utili-
ties Commission.
Operating revenue amounted to
l2,326.77, an increase of SAL
27884 over June. 1887. Operating
revenue deductions required $773,-
229S3, an increase of S2e,20O.99 and
more than offsetting the gain in op-
Grating revenues.
Deduction of operating costs left
net income from operations of $439,-
096,94, drop of s7,922.l5. Income
deductions from gross interest pay
ments called for SOL .108.73. an in
crease of S9,21026. leaving the above
net income of more than s348 900.
The Potomac Electric Power Co.
also filed the six months statement,
showing operating revenues of ST.
470,0l677 up $l64 44l708. Operat-
ing revenue deductions called for S4,-
78.404.50. an increase of 1888, ,4l5.64,
leaving a net operating income of
S2,79l ,6l227, decrease of S2l8,99856.
Interest deductions from gross
amounted to s56S,le1.72, s59,928,44
more than year ago. leaving net
income for the six months of S2,224,-
S57.32 and S323.96747 lower than in
the first half of 1887, or 1911 per
cent.
Kilowatt hour sales in the first half
of this year totaled 349,077,751, COM
pared with 319.349.50l in the like
period in 1887. an increase of 31,72S,-
Gas June Revenues Higher
The monthly report of the Wash
!ngton Gas Light Co. filed today with
the Public Utilities Commission shows
operating revenues of S534,915 for June
ef this year compared with S485,111 for
June last year Operating expenses
increased S38,578 from S404,566 in
June year ago to S443l44 this June,
principally because of the larger VOL
ume of gas produced, resulting in the
net operating revenue of s9l,77l, an
improvement of Slips over June last
year
Incorporating revenues were S9,334
This June, decrease of $3.50. After
all deductions for interest and amorti-
cation, the net result of the months
operation was net income of $2O,545
compared with s12,670 for June, 1887
The net income for the first six
months was s72908O compared with
$638,378 for the same period last year.
The company reports gas sales of
728,226 m. c. f. or 81,305 m. c. f. more
than June year ago AS of June 30,
1888, there were 147,66l meters in
service or 1894 more than at the
same date last year.
Big Total Dividend Voted.
A dividend totaling $1,123,600 for
the semi-annual period ended June
30 has been declared by 10 of the IL
Federal Home Loan Banks. Preston
Delano governor of the Federal Home
To
day. The two remaining banks de-
clare dividends only once a year, on
December 81.
Approximately II per cent of the
current dividend will go to the United
States Treasury as the largest stock
holder in the banks, Mr. Delano ex-
planned, while % per cent will be
distributed among nearly 1000 men,
bers of the Federal Home Loan Bank
the stock
The percentage of stock held by
member savings and loan associations
is constantly rising in comparison
with the Government investment, it
was pointed out. Between January
!, 1884, and July l, 1888. capital stock
in the banks held by members in
creased from Sl5,428,8O9 to S36, ILL.,
EOS, or more than double.
Four of the banks-those in New
York City, Chicago, Cincinnati and
Des Moines-declared dividends at
the rate of 2 per cent per annum.
The banks in Boston, indianapolis and
Los Angeles paid on a basis of ll2
per cent per annum: the Portland,
Greg. bank paid at the rate of IL
per cent. while those in Topeka and
Little Rock paid on basis of per
cent. Dividends for the Pittsburgh
and Winston-Salem banks are de-
clared annually, the next distribu-
ton of profits being made on Decem-
ber 81, 1898.
Largest amount of advances during
S11ne WAS made nv the Federal Home