Evening star., 1939-12-02
Washington Utility
Concerns Make Fine
10-Month Showing
Three Corporations
Lift Net Earnings
Above 1888 Marks
By EDWARD c. STONE.

nOGlnR marked gains OVeI 1900
The other, the Potomac Electric
Power Co., had the largest net in
come of any but was not quite up
to the record year ago, according
to the financial statements just filed
with the Public Utilities Commits
sion.
The Capital Transit Co. reported
net earnings amounting to s485. 5.13l
in the 10 months against only $l93,-
12422 a year ago, an increase of
1922 ,006.7S or ISL per cent. The fig
ures include the surprisingly fine
report for october which revealed
net earnings amounting to s79.-
395 "a. compared with $38,192.42 in
October, 1888, an increase of SAL ,203
or LOT per cent.
The Capital Transit report re-
fleets a notable rise in passenger
traffic in the IL months, revenue
passengers totaling 14l 1886 ,033, gain
of 8,784,639 riders, or sc per cent.
The improved financial statement,
however, is not quite as good as
it looks, Transit officials calling at
tention to the fact that some of the
recently allowed wage increases are
retroactive to July. These pay
ments are now being figured and will
be deducted from earnings in the
near future.
Gas Net Shows S228,042 Gain.
The Washington Gas Light Co. re-
ports net earnings of $838,549 in the
10 months compared with s610507
in the like 1888 period, a gain so
far this year of $228,042. Operating
revenues scored an advance OF
1895, ,321 over last year. Interest and
amortization called for 100000 be-
low the 1888 requirements. On the
other hand operating expenses,
taxes and uncollectible bills in
creased by $265 900.
Unusually warm weather in October
put dent in that months net earn
ings which reduced the years total.
Net was dowl $4,000. The COM
pany reports gas sales of 850,460
Mcf for the month of october, an
increase of 11,340 over October, 1888.
There were 156,604 meters in service
on october 81, 1889, gain of 4,737
meters over the same date last year.
The company expended approXl-
mately S134,721 in october for i'm
provements and additions to prop
erty to care for service requirements
of customers and has spent over
1895 900 for that purpose during the
first 10 months of the current year.
The Potomac Electric Power Co.
reported a total net income in the
10 months amounting to S3,498,-
45620, in comparison with $685.
63799 a year ago, drop of S84,-
1910, largely due to increases in ex-
penses. In october alone net in
come totaled s344,73813 against
$3.50 54466 in October. 1888.
The Chesapeake g. Potomac Tele-
phone Co. announced net income
of sl,5O7,4 against $1,424,433 last
year, an increase of S83,026. The
report included an october net in
come of $162, ,428, about $1,000 ahead
of October a year ago. In the 10
months telephone stations and calls
both showed a steady increase.
Griswold Heads This Area.
The National Association of Sc
curities Dealers, Ir.c., has just an
nounced the election of 81 gover-
nors in the IA districts. who will take
Office January IS. Separate elec-
tions were held in each district.
AS already noted in The Star,
B. Howell Griswold jr., Of Alex
ander Brown e. Sons, Baltimore,
was elected from District No. II
which includes the District of
Columbia, North Carolina, Mary
land, Virginia and West Virginia.
Generally speaking, the purposes
of the association are to profession
alize the investment banking and
securities business; to promote high
standards of business conduct: to
promulgate and enforce necessary
rules of fair trade practice; and
to bring a large measure of self
regulation to the over-the- counter
markets.
Manufacturers Sales Jump.
Sales of manufacturers during
October increased 249 per cent over
October, 1898, the Commerce De-
partment reports. This is the great
est relative improvement over the
same month of last year recorded in
1899. Dollar volume of 1850 firms
amounted 100000 against $685.
100000 year ago.
The Commerce Department
reports that sales of 2,912 whole
salers representing all parts of
the country increased over II per
cent in October over October, 1898.
Dollar sales totaled $233818,000. of
6 per cent from September. OF the
81 lines of trade covered, 33 did
better than a year ago.
The cost value of stocks on hand
ut the end of october for 1,729
wholesalers was up 3.6 per cent from
the beginning of the month and had
increased 81 per cent over October,
1898. October is the third eonsecu-
tive month of 1889 that the dollar
volume of inventories showed an in
crease over the corresponding month
of 1898.
Financial District Comment.
Bond Stores, Inc, have declared
an extra dividend of so cents and
quarterly dividend of 40 cents on
common, both payable December
Is to stock of record December 8.
In three previous quarters company
paid 20 cents quarterly.
The Washington Office reports
that directors of the United Fruit
Co. have voted additional compensa-
ton of half a months salary to en-
ployes receiving $4,000 or less an
nually. About 5000 employees will
benefit by the Christmas bonus.
The Commerce Department re-
ports that retail financing of new
passenger automobiles in October
was 86 per cent higher than Octo-
ber, 1888, but 8 per cent lower than
in 1887.
Investment dealers here expect to
have for sale some of the new $10,-
nm mn ;ee,,a Of Mo