Evening star., 1939-02-24
C.&P. Telephone Net
For January Rises
Above Year Ago
$289, ,345 Compares With
$3.50, OBS Record in
1888 Month
BY EDWARD C. STONE.

year ago, according to the report
filed today with the Public Utilities
Commission. The Potomac Electric
Power Co.'S report showed a de-
crease from last year, owing to
heavier expenses.
The Chesapeake & Potomac Tele-
phone Co. reported operating reve-
nues of $l,002.782, against S945, ,71O
in January, 1888. Operating ex-
penses were also higher. $7l3,437
comparing with $685., ,675, leaving net
operating revenues of $685.
against $260035 last year.
Taxes called for s96,533, compared
with $88074 in January, 1888. Total
income amounted to Sl92,257. as
compared with s175,655 in the cor
responding month last year. From
this amount interest deductions re-
quired S40,642. against $32097
year ago, leaving a net income for
January of $151615 VS. $l43558 a
year ago.
There was a net gain of 1893
telephones during the month. Tele-
phone calls totaled % SAB ,OOO against
26.204,000 year ago. the report
said. This was gain of 2,439000
calls.
Potomac Power Net Lower.
Operating revenues of the Po-
tomac Electric Power Co. in Janu-
ary amounted to S1,376,6O2 1S, an
increase over January, 1888, of SILL
73416, according to the monthly
statement filed today with the Public
Utilities Commission.
Expenses, however. went up faster
than operating revenues, operating
revenue deductions taking $780,
71042, an increase of $53 ,O33.33, or
6 per cent. This left net operating
revenues of $51987l.76, a decrease
of S41,299l7 from January a year
ago, or more than 7 per cent.
Income deductions in January for
bond interest, etc, required $780,
76340. an increase over last year
of s4,933S6. After these deductions
the company reported a total net
insome of s41938018, a decrease OF
s46,145.8S from January, 1888.
Capital Transit Net Higher.
In January, 1888, the Capital
Transit Co. reported a net income
of only sl6672, Today's report, filed
with the Public Utilities Commits
sion, disclosed net income of s12,-
1928, an increase of $l2,595.01.
The monthly report showed oper-
ating revenues of 1888, 1913. an in
crease of $36,936O9 over January,
1888. Operating expenses called for
$692 $780, an increase of more
than $4,000.
Taxes required s85 5O3e74, up So
49444; depreciation took Sl05 ,279 05,
up S4,375.44. leaving an operating
income of s7501499, an increase of
Sl7,54044 or 80 per cent over last
year.
Deductions from gross required
$64,28O75. Revenue passengers
numbered 13,756,273, an increase
over January. 1888, of 482,2 ,242, or 36
per cent Both the gain in net
revenues and the number of revenue
passengers carried follow substan-
tial gains in other recent months.
Bankers Plan Conference.
More than so nationally known
speakers will appears on the pro-
gram of the regional conference for
commercial and savings banks,
slated for March 8, 9 and 10 at the
Waldorf Hotel in New York,
Philip A. Benson, president of the
American Bankers Association, re-
ports. Many Washington bankers
have already expressed their in
tentions of attending the sessions.
The program will include ad-
dresses by w. Randolph Burgess.
former vice president of the Federal
Reserve Bank of New York and now
vice chairman of the board of the
National City Bank; DR.. Virgil
Jordan, vice president of the Ma
tional Industrial Conference Board,
and William r. White, New York
State superintendent of banks.
Arthur j. Linn of the Hamilton Ma
tional Bank, this city, is also on the
program, as is DR.. Ernest NJ Fisher
of the Federal Housing Administra-
ton.
The sessions will be divided into
general business meetings andround-
table discussions. Expense control,
interest rates, personnel credit
problems, installment credit, per-
sonal loans. real estate loans, values
and appraisals, investment problems,
bond accounts and the new types
OF checking services are some of the
leading subjects due for discussion
The territory covered by the con-
q in nn vi Of
Columbia and II States, including
Maryland.
Insurance Jump Explained.
Richard w. GrisWold. president of
the District of Columbia Association
OF Life Underwriters, said today that
changes in insurance contracts
adopted by most of the larger COM
panies were one of the chief reasons
Cor the jump of Al per cent in
January business over January, 1888
These changes made it a special
object to people considering insur-
ance to take out their policies at
once, instead of waiting until after
the new rules had gone into effect.
The same reason was partially ac-
countable for the 80 per cent gain
in December
The situation was much the same
In the rest of the country, as the
national average gain was 49 per
cent, 2 per cent better than Wash
ington. New insurance in January
totaled S7,183,O0O in December So
O55,000, and in January a year ago
S4,9l0,000. The two recent monthly
totals show how hard people were
trying to get under the wire" in
time to have the benefits of the old
rates.
General business in the Capital
was better in January this year than
q year ago, agency directors stating
that this situation was also reflected
In the big increase in life insurance.
Business Decline Slight.