Evening star., 1940-09-28
Pepco August Net
Off SIS Per Cent
From Year Ago
$31l,70l TotoI Compares
With S331 ,060 for
Same 1899 Month
By EDWARD c. STONE.

Net income of the Potomac Elec-
trio Power Co. in August totaled
s3l1. .7O1 SO as compared with S33l,-
O6O As a year ago, a decrease OF
s19.35S.88 or 5.85 per cent, according
to the monthly report filed with the
Public Utilities Commission. While
there was a substantial increase IN
operating revenues, there was a
greater advance in operating eX-
penses. the report revealed.
Operating revenues totaled 81 ,4Ol,-
72O82, up $50 ,927.57 or 525 per cent.
At the same time operating deduc-
tions for expenses called for $780,
1855, up $50 ,222.68 or 1912 per cent,
and leaving net operating revenues
of SAIL, ,34487, off 2O295.1l from last
year. Deductions for interest, de-
probation, etc. required S99,73O.7O
against Sl00,502 81 in August, 1889.
Very substantial earnings in the
first eight months of this year were
also reduced by rising expenses.
Operating revenues Of S11 ,007, ,755. As
were 1854, $3.50 or 5.3l per cent
better than last year. However.
operating expenses reached S5068,-
1850. up s540,56683; depreciation
took s879,41247, an increase of S18,-
520.31, and taxes required Sl,557,-
6OO62, a rise of S130 509.23, making
a total of operating revenue deduc-
tions s75O5, ,230O4, an increase Of
S697,59837 or 1925 per cent.
After all deductions. net income
amounted to S2672Ol2S0, a de-
crease of $166,954.55 or 5.8S per cent
from last year, the report said.
c. & P. August Net Climbs.
Net income of the Chesapeake &
Potomac Telephone Co. in August
amounted to S150.100 compared with
$130.838 in August, 1899. an increase
of Sl9,342, according to the monthly
statement filed today with the Pub
lie Utilities Commission.
Operating revenues totaled ST.
O90239, against 1882 .3S9; expenses
took S783 ,514, compared with S705,-
SOL last year; leaving net operating
revenue of S306,725 in comparison
with S276693 a year ago. Taxes
required Sl08,000 against S104,000
and interest deductions called for
S56,2ll this August and S45 ,596 last
year.
There were 263,113 telephones in
service at the end Of August, an
increase of 1921 over the previous
month. Telephone users made 90
9560O0 calls during the month. or
3l49,000 more than in August, 1889,
the report said.
Net earnings in the first eight
months of this year totaled ST ,265,-
1894 against S1.201,344 a year ago,
an increase OF $64550, the review
showed. In the eight months taxes
increased by S142586 or 1917 per
cent.
Capital Mortgages Increase.
The Federal Home Loan Board
reported today that total of 1909
home mortgages amounting to S.
$4,000 we're recorded by all types
of lenders in the District of Colum-
bia in August, against 1.198 mort
cages financed for S5235, 900 in the
same month last year.
Banks and trust companies made
120 loans totaling $780, 900; building
and loan association 526, for total
of s2534 900: insurance companies
1913, for s829OOO; individuals 1924,
for s1,043O0O, today's report showed.
In urban areas of Virginia 1888
home mortgages amounting to S.
257.OOO were recorded, compared
with 2623 for s6.3O9,OOO a year ago.
In Maryland in urban areas 2180
home mortgages were recorded for
s5.956 900. against .992 for SIS .387 900
a year ago in August.