Evening star., 1940-08-24
Lower Net Reported
By Potomac Electric
Power for July
$2S3,523 TotoI Compares
With S330,45l in
Same 1899 Month
By EDWARD c. STONE.

Total net income of the Potomac
Electric Power Co. in July amounted
to S283,523.39, against S330,45l .53 a
year ago in the same month, crop
of S46,92614. or 1920 per cent, &C
cording to the monthly statement
lust filed with the Public Utilities
Commission.
Operating revenues totaled ST.
348.94o95, a gain of ISABELLA over
last year, but operating revenue
deductions called for 1851, ,704.14 an
increase of S88.23911. While oper-
ating revenues climbed 1886 per
cent, deductions for operating ex-
penses moved up 1910 per cent.
This left net operating revenues of
S387,244.81, off s44.42787, or 1929
per cent, from last year. Income
deductions to meet interest pay
ments and depreciation called for
s1O3,417.34, which was S2072.26 more
than in July, 1889.
The Potomac Electric Power Co.
also reported net earnings IN the
first seven months of 1910. Operat-
ing revenues totaled S9,606033 63, a
notable gain of S484,7l0.03, while
operating revenue deductions re-
uuired sG.514853.O9, an advance OF
S6O7 1859, leaving net operating
revenues of S309l 1854, down Sl22,-
665 Sc from last year.
Gross income in the seven months
amounted to S3118.14904, from
which interest and depreciation
amounting to S757,83782 was de-
Quoted. This left a net income OF
S2.36O3l1.22, in comparison with
s2.5O7 ,9O6.89 in the first half OF
1899. a decrease of STAT ,595.67, or
5.69 per cent, the report showed.
Transit Earnings Increase.
Net income of the Capital Transit
Co. in July totaled S48 1873 .86, against
S16954 so in July, 1899, an increase
of 1898, or 1873 per cent, ac-
cording to the report filed with the
Public Utilities Commission.
In q letter accompanying the re-
port officials state that the I'M
provement is more apparent than
real, and is the result Of ADJUST
ments in provision for taxes and
injuries and damages. Taxes OF
s1O1.l23 in July, 1889, included pro-
vision for the District of Columbia
income tax for the first seven
months of that year in the amount
of S27278. Revenue passengers in
July numbered l4,9l3566, a gam OF
1866 35S over last year.
Net income in the first seven
months of 1910 totaled SAP l00,08,
an increase of S1OS ,45356 over 1899
or 80 per cent. Revenue passengers
numbered 1O6 .384147 gain OF
1905 .268, or 7 per cent.
Home Loan Payments Rapid.
The Home Owners Loan Corp
announced today that more than 26
per cent of the billions borrowed
during the depression has now been
repaid. In the whole country 77,14l
borrowers have already liquidated
their loans in full.
District of Columbia borrower
have already paid back S4,472 ,l83
or Sc per cent of their total in
debtedness. OF these loans $50 have
already been paid in full to the
amount of 1875 ,402.
Maryland home borrowers have
paid back S13373,642, or 27 per cent
1905 loans having been paid in full
in the sum of S3,360, ,343.
In Virginia borrowers have re-
turned s12O59,887. or 81 per cent
This includes 1,033 complete pay
ments tctaling S3,135,378.
Financial District Comment.
A brisk pace for midsummer home
financing in Virginia was set by the
insured savings and loan aSsocia-
tions in that State in July, when
375 loans on homes, aggregating
S1,O97,59O, were reported to Nugent
Fallon, general manager of the Fed
eral Savings. and Loan Insurance
Corp, it was announced today.
Mrs. Maude H Buckingham,
cashier of the City Bank, is enjoy
ing a motor trip through Connecti-
cut and other New England States.
Miss Marie H. Shepherd, also con-
nected with the City Bank, has been
named Miss District Of Columbia u
for the coming annual tobacco eX-
hibition at South Boston, Va, in
September Miss Shepherd is a
native of South Boston.
The 20-cent dividend on National
Dairy Corp. common stock and
SITS per share on the A ard B pre-
ferred will be paid October l to
stockholders of record September 4
National Dairy Products has two
Washington units.