Evening star., 1941-12-24
Pepco Disc|oses Net
Slightly Above 1910
For November
1881, ,334 TotoI Compares
With S3l7,889 for
Period Year Ago
By EDWARD c. STONE.

ed to 1881. .33487, compared with
S3l7.889.46 in the same ronth a
year ago. a small increase of $13,-
445.41 or 423 per cent. according to
the report Just filed with the Pub
lie Utilities Commission.
Operating revenues reached ST.
54o.O5o.07. very sharp gain of
sl37OO826, or go per cent. How
ever, increased operating costs made
q severe dent into the advance, the
total of SLOTS, ,89O.03. being s91, ,452 13
or 9.29 per cent higher than last
wear. Net revenues from operations
after expense deductions. were S45,-
s56.l3 more than last year.
Interest deductions for interest
ravments were also heavier than
last year. this item calling for SAL
a7l19 which was an increase of
s32 ,2O7. or 2934 per cent more than
requirements in November, 1910.
Small Gain in Eleven Months.
The power company also reported
for the first eleven months of this
wear. income climbing to $3,6l9,-
227eS. against 1881, ,46622 year
ago leaving small gain of S37,-
s2176 or LOG per cent.
Operating revenues in the eleven
months climbed to $l6,834, ,671 SO
against S15,184,07l42 in the same
months last year This was an up
turn of s1,65059994 or 1887 per
cent.
Operating expenses required SILL
e74787.0l which was 81 .222 ,234 OF, or
1859 per cent more than last year
Net revenues from operations to-
tailed s5159.98435. an increase of
s428, 1865 SO, or 9O5 per cent, over the
like 1910 period.
Potomac Powers gross earnings
were s4O2 .e35 "a over last year, or
BAT per cent but income deduc-
tions for interest payments required
$685.. .1l348 more than a year ago,
an increase of 81 per cent, the re-
port shows.
c. & P. to Spend S2,500,0 900.
Expenditures amounting to nearly
t2500.000 were authorized by the di-
rectors Of the Chesapeake & Potomac
Telephone Co. at their December
meeting, it was announced today by
c. A. Robinson, vice president and
general manager.
About s429. 900 will be spent to
provide 80 additional switchboard
positions at two locations to increase
the facilities for handling long
distance calls. These are in addition
to 128 long-diStance switchboard
positions which have been installed
since May of this year.
Over S1,700.000 was also approved
to provide for the day-to-day work
Of installing, disconnecting and mov-
ing telephone facilities on sub
scriberS' premises and for minor out
side plant construction anticipated
in the first quarter of 1912. The
remainder will be expended for addi-
NAollui SnblNt al dIlu
a large private branch exchange.
According to Mr.. Robinson. the
company has spent in 194l about
sl6000O00 for additions and bet
termentS to its plant, which is more
than the cost of the total telephone
plant that was in service at the end
of 1922
SOuthern's Earnings Soar.
Ernest E. Norris. president of
Southern Railway Co., said that net
income in 1941 was estimated at
s17,734,875. compared with actual
net income of S7,352,O72 in 1910.
Such earnings would be equal.
after allowance for dividends on
100000 shares of 5 per cent nom
cumulative preferred stock. to S11.35
share on 1,298. 200 shares of COM
mon stock Net income in 1910 was
equal, after preferred dividends. to
1886 a share on the common stock
Mr.. Norris said that the report for
io41 would disclose a tax bill for the
year s9,0OOOO0 larger than in 194O
The recent wage increases and va
cations-with-pay to railway en-
ploves. he continued, will cost
Southern approximately $4,000
year.
Defense Bond Sales Jump.
T. Stanley Holland. president of
the District of Columbia Bankers
Association, reported today that the
0f Tot+ tat 20
bonds in Washington banks reached
a new high during the past week.
Sales for the week ending December
18 practically doubled sales of the
previous week.
Directors of the Terminal Re-
frigerating & Warehousing Corp
have declared the regular semi
annual dividend of S150 per share,
payable December 26 to stockhold-
ers of record December 10. Secre-
tary Jerry P. Johnson announced
today.
Holders of American Telephone &
Telegraph stock here were much in
teresSd in the cut by the New York
Telephone Co. from So to S1.5O in
the quarterly dividend on common
payable December 81. All the com
mon stock of the company is owned
by American Telephone. Higher
taxes and increased wages were
given as the reason for the reduc-
ton.
Gas Stock Features Market.
What is believed to be the heaviest
trading on record in Washington
Gas Light common on the Washing
ton Stock Exchange was registerel
today, when nine l00-Share lot;
changed hands, all at 1412, un
changed from yesterday. TwenC,
and two 15-share lots sold at the
same figure.
Mergenthaler recorded two So
share transactions at 2612, IN
changed. Capital Transit was in de-
mand. opening with so shares SELLING
at 145s, followed by two other 80
share lots moving at 14l2. Wash
ington Gas preferred came out a
1o1. Capital Traction IS figured Ii
a $4,000 transfer at l03, unchanged