Evening star. [volume] (Washington, D.C.) 1854-1972, 1940-11-29
Pepco Reports Net
Ahead Of Year Ago
During October
$386,617 Compares
With $344,73s in
Same 1889 Month
BY EDWARD c. STONE.

Net lIlCOIIl6 Oh Lie FOIOfIldC ElcC-
trio Power Co. in october amounted
to s386,617.79. in comparison with
1914, 1888 in October, 1889, a sub
stantial increase of SAL ,879.66, or
1918 per cent, according to the
monthly report filed today with the
Public Utilities Commission.
Operating revenues totaled 81 ,4l8,-
569.44, an increase of $50 1891 over
October a year ago. At the same
time operating revenue deductions
for expenses required 1925, 40299, or
Sl4,7o310 more than last year.
In the first 10 months of this
year net income totaled $685.
576.76, against $3,498. 456.20 in the
like period of 1899, a decrease of
$234,879.44, or 6.71 per cent, the re-
port stated.
Transit Net Up Sharply.
Improved net earnings for the
first 10 months of the present year
were a vital factor in yesterdays
declaration by Capital Transit Co.
directors of a dividend of rs cents
per share, amounting to $4,000
on the 100000 shares of the COM
pany, payable December 20 to
stockholders of record December S.
Earnings in the 10 months amounted
to Sill, 622.19.
This 75-cent dividend, with the
Is cents a share paid on July l,
will make a total dividend of 81
per share paid out of earnings for
the year 1910, officials said today.
In addition to the dividend &C
ton, the board directed the setting
aside of a special cash reserve fund
in the amount of 100000 for the
retirement of funded debt, in &C
cordance with policy adopted some
time ago.
The directors also gave consider
alton to the company's need for
cash to meet large expenditures for
additional equipment during the
coming year, President E. D. Merrill
said
There are hundreds of Capital
Transit stockholders in the city who
will share in the year-end return.
Highly favorable comment on the
action of the directors was heard
In the financial district today.
Capital Transit stock, listed on
the Washington Exchange, recently
sold at s17.50 per share. The divi-
dend action is expected to draw
attention to the stock at once.
The company paid a 50-cent divi-
dend in December last year. Pre-
vious to that, however, the last pay
ment was 81 a share on December
IS, 1884.
c. & P. Net Earnings Rise.
Total net earnings of the Chesa-
peake & Potomac Telephone Co.
In October amounted to $170,036,
against sl62,428 in October, 1899, an
increase of s7608, the monthly re-
port filed with the Public Utilities
Commission today disclosed.
Operating revenues were $1,161,-
1873, compared with sl,058,472 a year
ago, a gain of $103,711. Operating
expenses called for 1928 BAT, against
$732,745 in October, 1899, an in
crease of S90,593.
Net income for the first 10 months
of this year reached $l.554,935, an
increase of s47.476. the report states.
Taxes in October amounted to
s116,032, a decrease of $1,762, while
for the 10 months taxes amounted
to 81 ,199 ,054, an increase of $186,52
or 1912 per cent over last year.
There were 269,6s1 telephones in
service at the end of October, which
was an increase of 1858 telephones
over the previous month. Telephone
users made 34,857 900 calls during
the month, or Abs, 900 more than
Ii October, 1899.
BrightwOOd Bank Dividend.
Receiver Frederick j. Young of
the Brightwood Bank started pay
ment today Of the fifth and final
dividend, amounting to about ST.
800, to 5000 depoSitors of the closed
institution. Checks were being dis
tributed at the old United States
Savings Bank at Fourteenth and
u streets NV. Any uncalled for
after December 16 will be turned
over to the Treasury, where they
may be obtained.
july, 1882 The present payment
brings to 65.71 per cent, the total
dividends amounting to $522, 1854
Receiver Young is also making
the final payment, at the same
location, of S19,776 to depositors
in the former International Ex-
change Bank.
S15O,O00 Phone Outlay Voted.
Directors of the Chesapeake g.
Potomac Telephone Co. voted ex-
penditure of $150,000 for construc-
ton and installation in the Dis
trict of Columbia, at the November
meeting, Charles A. Robinson, vice
president and general manager,
announced today Approximately
$4,000 will be spent to provide
additional facilities to take care
of growth in long distance service.
So far this year, $10,355 900 has
been authorized for telephone i'm
prOVeiuelIS III the D1SCrlcJ, MI
Robinson stated.
Maryland Home Loans Rise.
Home financing in urban areas of
Maryland by all types of mortgage
lenders in October amounted to
e6,994000 with 2,549 mortgages on
homes being recorded, it was
reported today by the Federal Home
Loan Bank Board. These figures
compared with 1866 mortgages
amounting to $5,251 900 in the same
month last year.
Building and loan associations
made 1888 loans for 1882, 900; in
surance companies. SO for $315 900;
banks and trust companies, BAT for
e1,080,000; mutual savings banks, 81
for $170,000 individuals, Sic for
Sl,218,000, and others, 227 for
$500 900. 90.
Today's Trading on Exchange.
Interest on the Washington Stock
Exchange today centered In Capt.
tai Transit stock, following the divi-
-