Evening star., 1939-11-25
Potomac Electric
Power Net Declines
S14,808 in October
Ten-Month Income
Also Is Under 1888,
Statement DiscIoses
BY EDWARD O. STONE.

L
trio Power Co. in october registered
slight decline from the same
month last year, income of $344,-
1888 comparing with $3.50 ,544S6 in
october, 1888, a decrease of $14,-
60852, or 4.12 per cent, according to
the monthly statement just filed
with the Public Utilities Com
mission.
Operating revenues in October
amounted to $1,354, ,93123, an in
crease of $87 ,220.29, but deductions
for expense called for $910699 SO,
an increase of SOL, 1,7747O over last
year, leaving net operating revenues
of S444,231.34, a decline of $14,554.4l
from October year ago.
The Potomac Electric Power Co.
also filed the report for the first 10
months of 1899, showing operating
revenues of $13,113,94047, up $685.
378.45, or $40 per cent. At the same
time operating deductions for ex-
penses called for $500 ,000.95, an
increase of $500, ,89420, or $40 per
cent
After all deductions for bond in
tereSt and other requirements, the
power company reported net in
come for the 10 months of $3,498,-
456.20, in comparison with $685.
63799 in the like period year ago,
decrease of $84, 4,18170, or 2.35 per
cent, the statement disclosed.
Transit Report Impressive.
Much comment was heard in the
financial district today on the Oc-
tober report of the Capital Transit
Co., out yesterday. Operating rev.
enues showed a gain of ST. 1926 AZ,
operating expenses were up Sl2,-
86059. taxes climbed S10,23141 and
depreciation was $6,520.33 higher
than last year.
The increases in expenses were so
far exceeded by higher operating
revenues that total operating in
come amounted to $139,377.15, an
increase of $42,213O9 over October,
1888. After all deductions for bond
interest, total net income stood at
S79. 1895 "a, in comparison with $38,-
1922, an increase of SAL ,20352, or
1919 per cent.
Traffic gains were an important
factor in the results of the months
operations. Revenue passengers to-
tailed 15,028,644, against 1894 500 in
october a year ago, an increase of
1,044, ,045, or rs per cent.
Capital Transit operating revenues
in the first 10 months of 1889
amounted to $9929, 1864, a jump of
S60l ,701 35, or 65 per cent. Operat-
ing income totaled $1037, ,38475, a
gain of $307 43473 over 1888, or AZ
per cent.
Following all the usual deductions,
net income reached the total of
S485, ,131, against $193,12 a year
ago, stepping up of 1922 ,OO678, or
ISL per cent. Here, too, the total
reflects the fine passenger traffic
figures In the 10 months revenue
passengers numbered 141 ,936,033,
against 1873, Isl 1894 year ago, a gain
of 8,784 ,639, or sc per cent, the report
shows
The November report will not be
as good as the recent pay increases,
and part of the retroactive payments
will be reflected in this statement.
The exact amount of back pay will
be known to the company officials
around December Is.
Savings Reach New Peak.
Long-term savings of the Ameri-
can people reached an all-time peak
at the end of 1888, when they to-
tailed s51 ,698 100000 and topped the
1887 figure by $2183 100000, accord
ing to the forthcoming report of the
Federal Home Loan Bank Board for
the fiscal year 1899.
The accumulated savings reported
for the end of 938-representing ap-
proximately 115,000,0O0 accounts
surpassed by $6,74O, 100000 the
amount reported for 1929, when pros
perity was most prevalent. This in
crease, arising during almost a de-
cade OF curtailed business activity,
shows that people are far more con-
cerned with providing for future Sc
curity than formerly, the report in
dicated.
Included in the statistics are
postal savings, United States savings
bonds, savings deposits in CONNER
cial banks, 21a per cent postal say
ings bonds and savings in life insur-
ance companies, mutual savings
banks and savings, building and loan
associations.
The increases from 1884 to 1898
have more than offset the depres-
sion losses in the three preceding
years, the report declared.
\ Heard in Financial District.
The Social Security Board an
nounced recently that expanding in
dustrial activity enabled employ
ment offices during October to make |
the largest number of job place
ments with private employers in the
history of the service About $780,
400 places were filled, with the most |
marked increases reported in the
South and Middle Atlantic States,
this territory including both Mary
land and Virginia.
Reports from 22,O13 independent
retail stores in "a States showed a
712 per cent gain in dollar volume |
In October over last year, the Com
merce Department states. Sales
amounted to S256,65S,O45, against
$238 ,908,86l in October, 1888.
The dollar value of retail sales of
new automobiles in October was Y
per cent ahead of October, 1898, and |
Is per cent higher than in October,
1887, the Commerce Department
reports.
Baltimore reports the greatest in
dustrial expansion in that city in
many years, due to increased domes-
tic demand and substantial pur-
chases of American-made goods by
-belligerent nations.
From June 80 to october 2 1876
State banks in Virginia increased |
assets by S12,6O1 ,038. Deposits
jumped s11 1892 1908 in the same three
months.