Evening star., 1940-04-03
Washington Utility
Concerns Make Fine
.2-Month Showing
Two Corporations Top
1889 Net Earnings;
Two Under Yeor Ago
BY EDWARD c. STONE.

ported net incomes not quite equal
to the corresponding two months in
1889. according to the financial state
ments filed with the Public Utilities
Commission.
The Washington Gas Light Co.
reported the largest two months gain
in net earnings, total of S565, ,454,
comparing with $465 281 in the same
months in 1899, scoring a notable
increase of $1OO,173 In February
alone there was an increase of 26
per cent in the amount of gas sold,
the large advance being chiefly due
the colder weather this year than
last.
The Chesapeake &, Potomac Tele-
phone Co. reported revenues in the
two months well in excess of the like
1889 period Net earnings reached
$326,114 against S302,001 year ago,
a stepping up il net returns of
$24,113. One of the vital factors in
this improvement was marked gain
in the number of telephone calls
which. in the first two months of
1910 totaled 63249,0OO against S.
O08,000 year ago
Expenses Up Sharply.
The Potomac Electric Power Co.
reported the largest operating reve-
nues Of any of the four companies,
$2,828,41008, an increase of S176,-
920.46. Yet operating expenses went
up still faster. these revenue de-
auctions calling for s1,873 .25450, an
increase of S218.51191 Net earnings
in the two months totaled the sub
stantial sum of S733 1853 SO, compared
with S795, ,8O1 ga last year, a drop of
$e2,437 96, or 7.65 per cent.
The Capital Transit Co. reported
two months net income of $28196.77,
compared with 29845 % a year ago,
decrease of S1,64s 50 or SIS per cent.
Snow was mainly responsible for the
small slump Operating revenues
were up S183 ,259, or 10 per cent, but
operating expenses increased by
S169.5 sos. which was 129 per cent. In
the two months, revenue passengers
numbered 29,l09,773, an increase of
2,747,769 over last YEAR or 10.4 per
cent.
AS it is indicated the four corpora
tions enjoyed good earnings in
March, the figures for the first quar-
pleasing. They will back up other
indicators of steady Improvement in
business conditions over last year in
the same period.
Six Directors Nominated.
Six members of the District of
Columbia Life Underwriters Associa-
tion were nominated for membership
on the board of directors at the
monthly luncheon yesterday at the
Willard Hotel Three will be elected
at the next meeting.
Those placed in nomination in
clude Paul Grove, Home Life: Ray
mond 3. Hotchkiss. Phoenix Mutual;
Raymond A. Du Four Massachusetts,
Mutual; Warren Stone, New York
Life; Arthur H Minor, Prudential,
and Charles B. Sinclair. Mutual Life
of New York. The annual election of
officers will take place in May after
election of three of these men to the
board. Installation of the new Off
GERS will take place in June.
The address of Howard c. Law
renee, general agent OF the Lincoln
National Life at Newark, N j., was
one of the most practical heard by
the association in long time.
Mrs. Frances M. Irwin, who was
awarded the SIS essay contest prize,
is now candidate for regional
honors. Her chances are believed to
be good for this award.
Bankers at Dickey Funeral.
Ord Preston president of the Dis
trict Bankers Association, appoint
ed the following financiers to rep
resent the association at the funeral
of Raymond B. Dickey, which was
to be held this afternoon.
Hilleary G. Hoskinson, Riggs Ma
tional Bank; Eliot H. Thomson,
Washington Loan & Trust Co.. and
Robert H. Lacey, Columbia National
Bank Mr.. Dickey was dean of the
faculty of Washington Chapter,
American Institute of Banking,
which is sponsored by the bankers
association.
Connected with the institute for
about 20 years, Mr.. Dickey was
greatly loved and respected by those
who came in close contact with him.
Many other bankers planned to at
tend the funeral rites, as well as to
send floral tributes.
Financial District Comment.
Second National Bank stock is now
being quoted at IS bid and 78 asked
the quotation appearing yesterday
being a typographical error. At pres
ent there is very little Second Ma
tional stock for sale at any price
The rights. which expired recently
sold around 13 and IA. John A
Reilly is the banks president and
Victor E. Deyber is chairman of the
board.
Ord Preston, president of the
Union Trust Co. and president of the
District Bankers Association, has re-
turned from three-week visit in
Florida. He caught lot of fish or
the trip. but left plenty for any
other Washingtonians who may be
down that way.
Hilleary G. Hoskinson, chairman
of the Program Committee for the
coming convention of the District
Bankers Association, at Hot Springs
Va, reports fine progress by his COM
mittee in the preliminary work. He
believes this years program viii
compare favorably with the others ir
recent years.
Attends New York Meeting.
Thomas w. Brahauy manager ol
the Washington Office of Merrill
Lynch, E. A. Pierce & Cassatt, is
attending a meeting in New York
today of out-of-town partners ano
managers, the first Of the kind since
the merger went into effect Satur.
day.
Felix Morley, editor of the Wash
ington Post, who has been elected
president of Haverford College, l:
a highly esteemed director in tht
National MetrODOlitar Bank HI