Evening star., 1941-06-30


JIne ----- 142574129 118,379,253
Potomac Power Earnings Up.
\ In an interim report issued today
BY the Potomac Electric Power Co.,
which is of special interest to
securities holders, it is shown that
IN the II months ended May 81,
l941, operating revenues totaled
Sl7.227,525.78. against S16241 .31985
in the comparable period ended May
81, 1910.
Operating expenses, taxes and
depreciation totaled SI2399, ,781 %,
against S11415,8010 03 a year ago.
Gross income after provision for
taxes totaled s4.859 645 ga. compared
with $4,830,18748 in the like period
a year ago.
After all interest charges. the
Potomac Electric Power Co. had a
net income amounting to S40l5,-
99007, against S4,153,52409 a year
ago. meeting all preferred dividend
requirements and leaving a balance
for common dividends and surplus
of s362095381. compared with
S3,758 .487O5 for the 12 months ended
May 81, 1910
Long Dividend Records.
The Washington Gas Light Co.
has paid a dividend on the COM
mon stock every year since 1866,
or for the past Is years. The COM
panys record is specially mentioned
in review of common stocks
listed on the New York Stock Ex-
change which have made regular
payments since as far back as 1348.
Only seven stocks have a longer
record than Washington Gas. The
Pennsylvania R. r. has paid a divi-
dend every year since 1948, some
times as high as SIS year; also as
low as so cents. But it has never
skipped a year.
Continental insurance Co. and
the Corn Exchange Bank Trust Co.
started payments in 1854; RenS-
selaer g. Saratoga R. r. in 1862,
American News Co. and Joliet &
Chicago R. R in 1864 and the New
York & Harlem R. R. in 1866, the
same year as the Washington Gas
initial dividend was declared
tAmerican Telephone started divi-
dends in 1881, Standard Oil of Jer-
sey in 1882, Cannon Mills in 1890,
Proctor e. Gamble in 1891, Coca
Cola in 1893, Standard of Indiana
In 1894 and Burroughs Adding Ma
chine in 1895. A list published in
the exchange magazine names Sc
companies having exceptional divl-
dend records.
; n. & w. Dividend Declared.
Directors of the Norfolk & WASH
tngton Steamboat Co. have declared
the regular semi annual dividend of
2.per cent on the outstanding stock,
payable August IS to stockholders of
record August 5, it was announced
today.
%Ten shares of Washington Gas
Ilght preferred stock sold at 104 on
tie Washington exchange today, up
q full point.
Capital Traction 5s were in de-
naand, $1,000 moving at 1882 and
$1,000 at 1032s, 4 from the last
pICNlOuO
About IL issues list on the Wash
ington Stock Exchange paid divi-
dends today, the checks being re-
ceived in the morning mail.
Building Shows Sharp Gains.
J. T. Little, district manager Of
Dodge Reports, announced today
that the valuation of materialS-and-
labor contracts in the Middle At
lantic States in the first five months
of this year showed a gain Of $685.
100000 over the same months last
wear. The District of Columbia,
Maryland and Virginia are in the
territory covered. Private owner
ships accounted for most of the
valuation totals in both residential
and residential contracts. he
said.
The two building classifcations
combined in five-month contract
total of $223,3 900 for the Middle
Atlantic States. That included a
huge increase over the comparable
$40 ,496,00 in the 1910 months. May
revealed the continuing nature Of
the improvement with contracts set
at S49,271 900, by Dodge Reports. A
year ago the month had S33,5l7 900.
Residential had the larger claSSifl-
cation total in this area during the
five months. All groups of residen-
tial building amounted to $126,-
184, 1000 in the contract summary
At the corresponding point of 1910
materials and labor had value OF
S82.120,000. Most recently, May resi-
dental awards, S27897000, topped
the same month of last year, when
the valuation was S20,802 900.
Non-residential building for which
contracts were awarded during the
January through May period
Jumped to S97,164 900 from the COM
parable s59,376,0O0. in 1910. Priv
ately owned projects accounted fol
81 per cent of the total residential
building contract valuation in the
first five months of this year.