Evening star., 1938-07-19
By EDWARD c. STONE

tlal gains in every month when COM
pared with the corresponding month
year ago. KiloWatt hour sales in
the half year totaled 09,O77,751, COM
pared with 333,741,9 ,912 in the like
period in 1887, a gain of 1885 ,S39
kilowatt hour sales.
Comparison by months discloses a
steadily increasing demand for cleo
tricity over the comparable months
in 1887 with an implied rise in busi-
ness conditions. The gains in WASH
1ngton from a percentage standpoint
appear to have been about the same
as the losses in other cities. Where
the Potomac Power Co. had an 8 or
10 per cent increase, other companies
reported an 8 or 20 per cent drop.
Gains Shown by Months.
The Potomac Power Co.'S report for
June alone showed a gain of 7.59 per
cent over last year. In May the in
crease in Washington was 1873 per
cent over the same month in 1887.
And so it runs for the first six months
with no breaks in the record, kilowatt
corresponding months year ago.
Month. 1898. 1927
January ------ 60,628,513 55,O0S, 1850
February ------ 5787l 1893 52,776, ,655
March -------- 57,259,643 52,7O4,429
April --------- 57,093,29O 5l,393,O92
May ---------- 57,206,388 5O,6O9,9l9
June --------- 59,o18,524 5l,27s,2 ,267
North Acooyicon etoaIr
selling on the New York Stock Ex-
change around 2212, having advanced
from a low for the year of 1874. The
1888 high is PAS. On the Washington
Stock Exchange, Potomac Electric
Power per cent preferred stock is
selling around 1l512 and the 5lla per
cent preferred at 1872, both being
In the blue chip" class.
AT present prices the per cent
preferred yields 5.38 per cent and the
5l2 returns 400 per cent, both being
rated as among the finest investment
issues on the board.
Potomac Powers net earnings in
the first five months of this year
totaled $l,876, ,70O61, a decrease of
S299,294.26 from the like period in
1887, and a decrease of 13 per cent.
Operating revenues scored gain of
Sl43, 1924, but sharp rise in oper-
atlng expenses more than wiped out
the advance.
Gas Stock Takes Leadership,
Members of the Washington Stock
Exchange said today that Washington
Gas Light $3.50 convertible preferred
stock has taken the leadership of is
sues listed on the exchange. Already
this year 1857 shares have changed
ownership.
More than 1900 additional shares
were recently placed on the market
by the Washington Gas Co. The
stock was quickly absorbed, largely by
local buyers 1t was thought that
this amount of additional stock might
cause a drop in the price, but it did
not
The new stock recently was listed on
the exchange. Since then more and
more interest has been developed in
the stock. 1t is now selling at 9912.
The lowest it has been on the ex-
change this year is 81, with the years
best price at 1907.
While there has been a greater per
snare turnover in Mergenthaler
Linotype, Capital Transit and Real
Estate Mortgage & Guaranty pre-
terred, the dollar volume has not been
nearly as large as in the gas issue.
Brokerage Offices Crowded.
Todays boiling opening of the New
YORK stock Exchange reminded one
OF the hectic days of the 1929 boom.
Boardrooms in the Offices here were
crowded and the market started off
at pace which soon put the ticker
tape some minutes back of the sales
prices. There was a grand upsurge
IN many issues and it was near the
end of the first hour before trading
quieted down.
New York has been talking a lot
ABOUT reaction, a consolidation of
gains, technical setback, and a
downturn because of the unusual
raplolty OF the advance The Wall
Street notes have said that many
traders were anxious for drop in
the market so that they might get
back stock they sold last week,
Early today, however, less was heard
about the probable setback as manv
stocks scored new highs for the wear
Improvement in retail trade, home
building, steel activity, and in several
other lndices seemed to offset some of
the poor second quarter reports now
coming out and for nearly an hour
trading moved at furious rate. The
volume slowed up later but the market
still held a tremendous amount of
attention.
Heard in Financial District.
Southern Railway reports for five
months ended May 81, 1888, net loss
OF $3,l62,75l after taxes and charges
This compares with net income of
Sl,s30,201, equal after dividend re-
quirements on 100000 shares of S
per cent non-cumulative preferred
stock, to So cents a share on 1928 900
shares Of common stock.
Nelson B. O'Neal. an assistant vice
president of the Riggs National Bank,
is on his vacation while Frank q
Burrough, another assistant vice
president of the same institution, has
just returned from his annual outing
The Frederick Industrial Loan Co.,
Frederick, Md, has filed registra-
ton statement with the S. E. c. cCv-
er1ng 10000 shares $40 par value 7
per cent no-par value common stock
to be offered to the public IN Units
of one each at $25 unit. Proceeds
will be used for working capital.
A single share of Washington Gas
Light preferred sold at par on the
Washington Stock Exchange today
Potomac Electric Power per cent
preferred figured in a 38-share turn
over at 11512.
Washington Gas Light SIS, 1858,
appeared on the board at lot on two
$1,000 transfers.
The neWly-liSted Terminal Refrig.