Evening star., 1941-02-28
Pepeo and Transit
Reports Indicate
D. {. Growth
Power Income Lower
Due to Rote Cuts,
Higher Expenses

hilIludl IcpOlJS 10 SIOCkIlOlQeTS
made today showed that the Poto-
mac Electric Power Co. and the
Capital Transit Co. both recorded
record volumes of business during
1910, due to the continued growth
in population and governmental ac-
tivities in the District of Columbia.
A. G. Neal is president of the Po-
tomac Electric Power Co. and Of the
Washington Railway & Electric Co.,
while E. D. Merrill is head of the
Capital Transit Co. All of the out
standing common stock of Potomac
Electric and so per cent of the out
standing capital stock OF Capital
Transit are owned by Washington
Railway & Electric Co.. which is a
unit of the North American Co.
system.
Net income Of Washington Rail-
way g. Electric Co. for 1910 was
$3,330,952, compared with $3,7l7,317
for 1899. The excess of net income
Of subsidiaries, including Capital
Transit, over dividends paid by them,
applicable to Washington Railway &
Electric's holding in such subsid-
iaries, was 1881 1888 for 1910, against
sl8l 1888 for 1899.
Neal Reports Sales Peak.
In the report to stockholders, A. G.
Neal, president, stated that the
greater volume of sales by Potomac
Electric Co. were made at lower
rates effective since February, l940
and this, together with increased
costs-of which fuel, labor and taxes
were important lements-resulted
in its net income for 1910 being
lower than in 1899
During 1910" Mr.. Neal said, the
company was faced not only with
the problem of providing electric
service to meet the accelerated rate
of governmental and business activ-
ity when and where it occurred. but
also of making preparation to meet
further demands for service that
will arise as those activities attain
greater momentum and as new and
larger housing, Office and industrial
facilities. with more extensive pro-
vision for the use of electric energy,
become available"
Potomac Electric Power Co. served
more customers and sold more kilo-
watt hours in 1910 than in any pre-
yious year. It's customers exceeded
100000. its power sales approached
900 000,00 kiloWatt hours. and the
peak demand on its system was
249 900 kilowatts-all record highs.
Gross operating revenue totaled
sl6,649 ,3l9, also a record and 81 per
cent above 1899 Operating charges,
including maintenance. taxes and
depreciation. amounted to Sl2.02 500.
an increase of 96 per cent over 1889.
Net income. after all charges and
taxes. amounted to $685., ,010, against
S4.230,27l in 1889 Average annual
use of electricity among residential
customers was 1858 kilowatt hours
for 1910, compared with 1.l95 kilo-
watt hours for 1899. while the aver
age annual price per kilowatt hour
dropped TO 2.5l cents, against 263
cents the year before.
During 1910. the Federal Govern
ment and its various agencies used
1879. TT ,228 kilowatt hours. or 208 per
cent of the total energy sold by Po-
tomac Electric Power Co, and the
government of the District of Co.
lumbia used 4l,905 1896 kilowatt
hours. or 4.3 per cent of the total
The combined governmental use was
ll3 per cent higher than in 1899.
Capital Transit Gains Noted.
Report of the Capital Transit Co.
and its subsidiaries shows net in
come of S864785, or S277,673 more
than the s5871ll reported for 1889
The company's passenger traffic
gained 79 per cent.
Rejecting the sharp increase in
governmental activity in the District
of Columbia, at the end of 1910 the
company was carrying l08 per cent
more passengers in 81 per cent more
vehicles and employed 48 per cent
more men than when it began busi-
ness in 1888.
Gross operating revenues of Cap
ital Transit Co and its subsidiaries
were s13,205, ,546. against sl2,l97,1l2
in 1899. Operating expenses. taxes
and depreciation totaled sl1 ,670 .903,
against sl0,9ll ,99l.