Evening star., 1941-03-28
Three D. T.. Utilities
Disclose Gains in
February Nets
Capitol Transit, Pepco
And c. & P. Telephone
File Reports
BY EDWARD C. STONE.

OVoAiinS ASie PiloIlC Pol VCN ouU-
stantial gains in net earnings in
February to the Public Utilities
Commission today.
The Capital Transit Co. reported
net income of s63,138.53, against
$21 ,51522 in February last year, a
notable increase of SAL ,623.31, or
1895 per cent.
Operating revenues totaled 81, ,106,-
794.65, jump of $129 9,230.78, or 13
per cent. Operating expenses, taxes
and depreciation called for 1884,
006.43, an increase OF $50, ,340.56 over
the same month last year, or 10 per
cent.
This left an operating income of
1922, 1882, which was 38,890.22, or
46 per cent better than a year ago.
Deductions from gross for interest
payments were about the same as
last year. Revenue passengers car
ried in February numbered 1882
929, an increase of 1,790,888, or 1876
per cent.
The transit company reported net
Ancome of $131 ,496.49 in the first
two months of 194l, against only
ls28,19677 year ago, a remarkable
lgain of S103 ,299 70, or 1864 per cent
Passenger revenues were up over 13
lper cent.
Potomac Power Net Jumps.
Net earnings of the Potomac Elec-
ltric Power Co. in February amounted
Ito s410,05587, a sharp increase OF
s67 ,272.99, or 1853 per cent, today's
REPORT stated.
| Operating revenues totaled 81 ,472,-
l0S2 .l9, a jump of SLOT 5O8.06, or 7.8S
Iper cent Operating deducations for
.expenses required $920,025.09, up
tS8,81182, leaving net revenues from
Operations of S552,057 10, an advance
iof s9S, ,697 .04, or 2117 per cent.
| The Potomac Electric Power Co.
ialso reported a net income for
tJanuary and February of 1904 ,682 .43,
,compared with $733 ,363.88 in the
first two months of 1910, a sub
Istantial increase of ST. ,3182l, or 9.72
iper cent.
Telephone Earnings Rise.
The Chesapeake g. Potomac Tele-
phone Co. today reported net in
come In February amounting to
s168.310, against S161 ,036 in Febru-
ary, 1910, an increase of S7,274.
Operating revenues totaled S1,175,-
S82, against $1,06l,756 year ago.
Operating expenses amounted to
S818,964. against $743,206 last year.
Net operating revenues totaled $685.
9l8, compared with the lower figure
of s318,55O in February, 1910.
Taxes required $123,755, against
S109,946 last year, an increase of
1856 per cent. Interest deductions
called for s73 3,499, against s49.677 a
year ago.
Net income for the first two
months of this year totaled 1887 1893,
in comparison with S326,114 in the
same period last year, an increase
of s11 ,284, the report stated
There were 281 ,887 telephones in
service st the end of February,
which is an increase of 1854 tele-
phones over the previous month.
Telephone users made 32,482 900
calls during the month, or 1,936,000
more than in February, 1910.
Banks in Strong Position.
Nine national banks in Wash
ington were in strong position on
December 81, 1910, according to an
abstract of condition just published
by Controller of the Currency Pres
ton Delano. These banks had loans
and discounts amounting to $780,
D59,00O, held Government obliga-
tions in the sum of $50 1884, 900, as
banks, including reserve balances,
pf S121 $4,000. Their assets totaled
$271 1865 ,000
| The same banks held demand de-
posts totaling S158,073 900 and time
deposits aggregating s49, ,298,000, de-
positS of the United States Gov
ernment, including postal savings,
pf s1,520,000, and deposits from other
banks in the sum of S36,217 900. In
tluding other classes of deposits,
the total stood at $248,98l 900 at the
beginning of 1941. Total liabilities,
excluding capital accounts, amount
ed to SPAS, ,632 900. the report says.
The nine banks had S8700,000
capital stock, $6,945 900 surplus and
S5,215,000 in undivided profits Com
fnercial and industrial loans in the
same institutions totaled S24,982 600.
Loans to brokers and dealers in Sc
curities were modest, the total being
$347 900. The banks reported real
estate loans, other than farm, total
ing s12,938 900.
In the past, the banks have car
hied large deposits in postal savings
funds. On account of low interest
rates they have cut these deposits
to only 100000. That a high state
of thrift prevails in the Capital is
evidenced by the fact that the ma
tional banks have 114,698 savings
accounts.
Carpet Sales at New Peak.
{ Gross sales of Carpet Corp. for
1910 amounted to 1881 ,793.17 This
was a new record and per cent over
the previous year.
5 Net profit for the year 1910
amounted to $76,028.84, which is
equivalent to $3.50 per share. Dur
ing the year 1889 net earnings were
1891 per share. Dividends amount
ing to 50 per share were paid during
! the year. The company is en-
gagged in the food business and the
stock is listed on the Washington
Exchange.
: Summers Joins Cook Agency.
Vaughn w. Summers, a past secre-
itary of the District of Columbia Life
Underwriters Association, and now
registrar of the Life Insurance In
stitute of the District of Columbia,
has joined the Washington staff of
the National Life Insurance Co.,
Theodore w. Cook, general agent.
He has been resident of the Cap
ital for 10 years and holds degree
from George Washington University
Law School. He plans to specialize
in estate and business insurance.
Todays' Trading on Exchange.
One hundred shares of National
Mortgage g. Investment preferred
stock sold at Az on the Washington
Stock Exchange today. A small sale
of Washington Railway & Electric