Evening star. [volume] (Washington, D.C.) 1854-1972, 1942-01-06
Utilities Disclose
Uneven Earnings
Trends Here
Two Companies Goin
Over 1910, Others
Report Declines
By EDWARD c. STONE.

BY EDWARD c. STONE.
Two of Washington's big utilit,
corporations had larger earnings il
the first II months of 1941 than IL
the previous year. while the othe
two reported small decreases, &C
cording to statements filed with tn
Public Utilities Commission. Highe
operating expenses, including mucl
heavier taxes, cut deeply into tn
net results.
Potomac Electric Power reported
a net income for the II months o
$3.61928798. against 1881 ,46622 ,
year ago. an increase of $37,82l76
or LOG per cent. Operating revenue
revealed gain of 81 650,599 or II
per cent. but operating expenses
taxes and depreciation called TO
$l.222234. which was II per cen
more than in 1910. Income deduc
tons for interest were also mucl
higher than a year ago, 81 PEE
cent.
Capital Transit reported a net in
come in the IL months of $1,127.
1926, against S81869944 yea
ago. an upswing of 5000, 046.82. or 8
per cent. The gain was in spite O.
an increase of S2,3l3,696 in operat.
ing expenses, taxes and deprecia
ton An increase of 36.867 ,799 ir
revenue passengers carried was {
vital factor in the income increase
Chesapeake e. Potomac Tele.
phones net earnings amounted tt
ST. 497 800. in comparison with ST.
672,400 in the like 1910 period, g
modest decrease of $175,09l. While
the company was sWamped with
business. which resulted in jump
of more than $4,000 900 in operating
revenues. expenses and operating
taxes were also up more thar
100000.
Washington Gas Lights net OF
S9S5,l74, compared with the 81 .l06,-
BIT in 1910, lacked $121 203 of being
up to the previous year. Due tc
unusually warm weather in certain
months, operating revenues were
only s189,975 higher than in 1910
while operating expenses, including
depreciation and taxes. were S4l5,-
l42 higher than a year ago, the re-
port discloses
Real Estate Bonds Drop.
Real estate securities dropped A
per cent in December under war
time selling and year liquidation
according to Amott-Baker realty
bond price averages. The December
slump was contrary to a gain for
the year amounting to rs per cent
and consecutive monthly advances
for II months. Every classification
showed improvement during 194l,
although all participated in the
December decline. the review states.
Hotel issues are Is per cent above
The 1910 close and have an average
price of 1922 after a drop of only
a. per cent in December. Office
buildings are 7.8 per cent ahead
and apartment hotels are 6.5 per
cent up. Apartment and theater
Issues we're. respectively. 46 per
cent and "a per cent lower.
indicative of the general nature
of the December markets affecting
GOOD and poor issues alike. 1879 OF
the 200 issues used in the average
fell in December, Al remained un-
changed, and only IA rose in price
The average dollar price per 81 ,00O
bond is now 1902, compared to
1921 year ago.
Bank Elections Next Week.
Washington's national banks, as
we'll as several State banks and
trust companies, will hold their an
nual meetings next Tuesday. when
directors will be named for the
coming year. Few changes in dl-
rectorates abe anticipated.
Secretary Morgenthau has sug-
eested that every family budget
should set aside 5, 10 or Is per cent
of income for the purchase of De-
tense savings bonds.
The Commerce Department re-
ports that sales of 2.870 wholesale
firms in the United States were "a
per cent ahead of the previous year
in November. and that sales in the
first II months of 1941 were 81 per
cent better than in 1910.
Jacobson Heads Grocers.
Isaac jacobson was reelected
president of the District Grocery
Stores, Inc. at a meeting held last
night at Jewish Community Center.
This will be Mi. Jacobson's 18th
term. The District Grocery Stores
are cooperative group of 230 food
stores located in Washington and
vicinity.
Mergenthaler Linotype stock.
which has recently been so active
on the Washington Exchange, sold
in Boston yesterday at 49,. Bos-
ton is the only other exchange on
which the stock is listed The COM
pany recently reported very sharp
gain in yearly earnings, partly due
to extremely heavyawar orders.
B. & o. Carloadirgs Mount.
Carloads handled on the Balti-
more & Ohio Railroad during the
year l941 totaled 3.113054, a strik-
ing increase of 55O,461 carloads over
1910, it was announced today. The
total back in 1880 was 3,257O32.
For December the totafwas 1885,
c07 carloads, en- increase of 42l55
over December. 1910. This was q
much better record than in Deem
ber, 1850, when carloads handled
totaled 2l4,301.
National Official Speaker.
Nearly 100 officers. members OF
the faculty and consuls of WASH
ington Chapter. American Institute
of Banking, will attend the mid
year educational dinner tomorrow
evening at the Continental Hotel
Floyd w. Larson of New York. Sec
rotary of the national organization
has been secured as guest speaker
The second semester program will
be outlined
r. c. Cosgrove. vice president and
general manager. manufacturing
branch, of the Crosley Corp, today
accepted an invitation from Leon
Henderson, administrato tor of the Of
fee of Price Administration to serve
on the Radio Industry Price Ad-
visory Committee, together with sew
Il