Evening star., 1938-12-24
Pep(o Earnings Lag
Behind Year Ago as
Expenses Climb
Net Income at $327, ,661,
Or Sl15,675 Below
November, 1887
BY EDWARD C. STONE.

lOIlldC tleClTlC ROVER 70. III NO-
vember, below November, 1887, ac-
cording to the financial statement
just filed with the Public Utilities
Commission.
Operating revenues totaled ST.
255,63464, an increase of $6,655 10.
At the same time operating expenses
of 1881, ,10826 disclosed a heavy in
crease of $1l6,l79.46, leaving. net
income from operations of S424,-
82638, a decrease of $109,52436.
After the usual deductions for
bond interest, etc, the Potomac
Power Co, had net income OF $327,-
66l 49, off $l15,6759O 80 from November,
1887, the report showed.
The earnings statement for the
first II months of this year was also
filed with the commission, showing
the very substantial net income Of
l0299.39 in comparison with S4,-
535 ,090.l9 in the like period in 1887,
a decrease of 1924, ,79080, or 13 per
cent so far this year.
Transit Earnings Mount.
Holders of Capital Transit stock
said today they believed recent pre-
dictions would prove accurate that
the company will earn more than ST
share in 1898.
The report for the first II months
this year showed a net income OF
$2l9 $40 and it requires S240 900 to
pay a dividend of ST a share. No
vember net income stood at $262l6.
Should the December earnings run
q little ahead of November, the years
complete net would run over S240,-
600. Weekly reports so far this
month indicate that December will
exceed the November mark.
In the first II months this year
operating revenues reached S10,-
295 .467, against S9,989 ,240 last year.
Operating expenses were held under
the same 1887 period, S7,445 644,
comparing with S7,5l0,675. Taxes
and depreciation were higher. but
operating returns still stood at S815,-
166, against $685. 28S. Gross income
reached S879936 VS.. S728,7l3 a year
ago.
Bankers Condition Favorable.
James Trimble, vice president OF
the National Bank of Washington,
who has been confined to his home
for some time with illness, is re-
ported to be improving. Mr.. Trim
bic has been with the Bank of Wash
ington for many years and was for
merly bank examiner connected
with the Treasury Department. He
has the title of colonel which was
bestowed upon him by the Governor
of his native State, Kentucky.
Sidney F. Taliaferro, vice presi-
dent and trust officer of the Riggs
National Bank. is recovering stead
lily from the illness which has kept
him in hospital for some time.
Maurice D. Rosenberg, president
Of the Bank of Commerce & Saw
ings. is passing the holidays at At
lantic City.
S. William Miller. treasurer of the
Union Trust Co., has returned from
his vacation passed in Florida.
Bank Joins Federal Reserve.
The Bank of Warren, Mount
Royal, Va, located in the territory
of the head Office of the Federal
Reserve Bank of Richmond, has been
admitted to membership in the Fed
eral Reserve System.
One of the finest of the holiday
season parties was given by Brown,
Goodwin & Olds, an investment firm
in the American Security Building,
at the Columbia Country Club
Thursday evening.
Robert C. Jones & Co. entertained
very large number of Washington
fnanciers at the firms Offices in the
Shoreham Building late Wednesday
afternoon.
Smiths Transfer & Storage Co.
presented the annual Christmas
bonus to employees at dinner given
at the Lafayette Hotel, President
Arthur Clarendon Smith announced
today.
Patrons of the Washington Loan
& Trust Co. are displaying wide in
terest in the new lighting system in
the main Office. Coming through
glass in the ceiling, the new lights
give the effect of natural sunshine.
Roper Highly Optimistic.
In his final report as Secretary of
Commerce, Daniel c. Roper ex-
pressed the belief that business will
continue to expand throughout next
year. He said the increase in pur-
chasing power Of the population in
recent months has given a new I'M
petus to the volume of retail trade.
He expects no large reduction in
production next spring, although
there will be a leveling off in some
lines. He retired from Office de-
cidedly hopeful on the 1889 outlook
as result of study of the latest
Commerce reports.
Christmas trade in Washington is
expected to equal and probably eX-
ceed the 1887 mark as the result of
the rush in the stores during the
past week. Telegraph dispatches
indicate the same results in a host
of other cities
Washington bank clearings for the
week ended Wednesday totaled $25,-
95989l.33, against the lower figure
of $24 ,307 1883 a year ago, a rise of
6.3 per cent. Clearings were also
81 per cent ahead of the previous
week THIS year.
In September life insurance sales
In Washington were down 20 per
cent from the previous year. Then
business started to move, October
sales were off only 2 per cent and
November business only per cent.
Oversubscribed % Times.
Subscriptions for the $50000,000
5-year Is % notes of the Federal
National Mortgage Association to-
tailed approximately s1,170000,000
Reconstruction Finance Corp. Chair
man Jesse H. Jones announced. This
represented an oversubscription of
approximately % times.
Eugene G. Adams was host to his
associates this week at luncheon,
celebrating the beginning of the 25th
year of the association of johnson