Evening star., 1941-08-29
Pepco Net for July
Up 10 Per Cent
From Year Ago
c. & P. Telephone Reports
Profits Far Behind
Same 1910 Month
BY EDWARD c. STONE.

according to the monthly statement
filed with the Public Utilities Com
missicf >oday.
Operating revenues totaled $1,571,-
S0205, a gain of 1922 ,853 10 over last
year, OF 1852 per cent. Operating
revenue deductions called for 81 ,l20,-
O65.62, an increase of $751; .29. OF
1647 per cent, leaving net operating
revenues amounting to 1862
an improvement of $64,49l.81, the
report showed.
During July operating expenses
were go. TAO l9 more than year ago
depreciation was s13123.78 higher
and taxes took s64, 1922 more than
last year.
The report stated that net income
In the first seven months of this
year amounted to S2,495 ,0l709
against S2,36O,31l.22 in the like 1910
period, a gain so far this year OF
sI34705.87 or 5.7l per cent.
Operating revenues were up $685.
352.92 but operating revenue de-
ductions called for $571 ,86495 more
than last year, leaving net revenues
from operations which were $751;
487.e7 ahead of last year, or a gain
OF II per cent, the report said.
Telephone Net Shows Slump.
Net income of the Chesapeake &
Potomac Telephone Co. for July
amounted to $89,O59 against $148,807
in July, 1910, a decrease of $50, TAB
the July statement filed with the
Public Utilities Commission today,
disclosed
Operating revenues in July totaled
s.311,2o5 against sl,067 260 last year.
This substantial gain, however, was
offset by an increase in operating
expenses which totaled S1.031 1951
against s769,33 last year, leaving
net onerating revenues of S279 254
compared with S207 800 in July,
1910.
Operating taxes revealed drop,
Sl05, 1872 comparing with sll0,l90,
Non operating income was lower
this year. Interest deductions re-
'ouired s91,7S5 compared with $50. .266
in July. 1910, the statement showed.
Net income in the first seven
months of this year amounted to
S1096,1l5 as compared with Sl,ll5,-
TIA in the same months last year, e
very small decrease of Sl9.599 Op-
Grating revenues were l649 per cent
higher than a year ago, while eX-
penses, including taxes, were l7.9l
per cent higher.
There were 297,800 telephones in
service at the end of July, which is
an increase of 2,7e1 telephones over
the previous month. Telephone
users made 38.208,000 calls during the
month, or 6,470000 more than in
July, 1910.
Transit Reports Lower Net.
Capital Transit Co. filed its report
for July with the Public Utilities
Commission today.
Operating revenues in July were
sl3O7. .095, as compared with s1,048,-
2S0 last year. Operating expenses
were s959,457, as compared with
S750,650.
Provision for depreciation was
s13O319, against s112877 last year
the increase being attributed to the
new streetcars and buses put in
service
Interest charges were $50 999. as
compared with s59,867 IN July, 1910.
Taxes were Sl89, ,344, ss compared
with s52,555 year ago. Net income
was off sl5150, as compared with a
gain of s48,634 in July l940.
Store Sales Still CIinbing.
Maintaining their recent senSa-
tlonal pace, department store sales
in Washington for the week ended
August % registered 80 per cent
gain in volume over the correspond
ing week a year ago, the Federal
Reserve Bank of Richmond reported
today.
The rise in the fifth district was
36 per cent over last year, in Balti-
more AZ per cent and in group
of other cities % per cent, the re-
port said. The sales gain in Wash
ington stores was practically the
same as in the previous week this
year. In the fifth district sales were
/ per cent better than in the week
ended August 16, 1941.
Cumulative sales in the Capital IN
the four weeks ended August %
were 80 per cent higher than year
ago in the like period, the review
said. In the whole trade area sales
were up 40 per cent, scared A per
cent in Baltimore and 80 per cent
in the group of other cities.
The average are based on reports
from 18 leading department stores
in this territory, the Richmond bank
says.
Market Advance Forecast.
While nobody knows what vii,
take place in the New York stock
market after Labor Day, yet many
brokers in the financial district are
forecaSting some kind of an upturn
There is always an upturn in the
volume of trading as so-called i'm
portant traders return from theii
vacations. Volume expansion is
helpful IN moving the market one
way or the other.
The records show that a dull
market usually has some sort OF
move in September. Recently prices
have displayed firm tone in mos
issues. When prices have worked
lower, trading also has fallen off
This leads many brokers to believe
that the next move is more likely
to be upward than downward.
Brokers point to the extra heav.
earnings of the railroads, as on
cheerful sign. Expansion in retail
trade with the best period of tn
year ahead, is another factor men
toned as encouraging to the out
look No letup in defense activity
which has caused the industria
boom, is looked for in many month
so that buying power is expected Il
hold up.
War news might change tn
entire picture and cause marke
drop. but right now brokers ar
more optimistic than pessimistic OF
probable stock market moves.
Washington Gas Stock Strong.
Fifty shares of Washington Ga
Light Preferred stock sold at LOG ol