Evening star. [volume] (Washington, D.C.) 1854-1972, 1942-11-29
Big Gains Reported
In Pepco and Gas
Company Nets
October Earnings Up
Sharply From Same
Month Lost Year
BY EDWARD C. STONE,

Two important financial state
ments for October were filed with
the Public Utilities Commission yes
terday, both the Potomac Electric
Power Co. and the Washington Gas
Light Co. reporting substantial in
creases in net earnings over October,
1941.
Potomac Powers net income in
October amounted to S439, 717O9. a
jump of S88,556.69 or 1922 per cent
over the like month last year. Oper-
atlng revenues totaled s1,759,O76 81.
gain of $l48,91828 or 9.25 per cent.
while operating expenses called for
S1,171 ,863.25, which was $50, 099 "a or
per cent more than was required a
year ago.
Adjustments made the tax bill
lower than last year. S241 .756 SO COM
pairing with s72.94730, a saving of
$31 1902 or l.43 per cent.
In the first 10 months of this year
the power company's net income
amounted to $3.50 1898, against
s3,287 ,953.11, off S88,6l3.28. Operat
Ing revenues reached s17.2lo, 2OO41,
an increase of 1924 ,588.12. At the
same time operating expenses, de-
probation and taxes totaled $12.-
609 ,543.70, an increase of SOLO,
646.72 over October, 1941.
The most striking expense item
was a 43 per cent increase in taxes,
the total of $3.50 54035 being ST.
04,065.6l more than year ago.
Washington Gas Net Rises.
Net earnings of the WASHINGTON
Gas Light Co. in October totaled
Sl8,762 compared with a deficit of
s33 $50 year ago, an improvement
OF ,422, yesterdays report showed
Operating revenues of $753.880 re-
Vealed a gain of $l37,300, against an
increase in expenses of STA 1921. Nom
operating income was lower because
OF Government restrictions on ap-
pllance sales.
Operations for the 10 months of
this year resulted in net income of
S735, 500, compared with 1905 ,676 in
194l. The reduction of S152137 is
attributable to increased costs re-
lated to the war, particularly higher
taxes. the increase in this item alone
being approximately $l45,00O.
The gain in the volume of gas sales
FOR the month amounted to approx
lmately % per cent, the sales being
1.l20,403 thousand cubic feet this
year, compared with 917,243 thou
sand cubic feet for October, 1941.
Meters in service in the District of
Columbia increased 1890 over last
year, to total of 1852
Gross additions to the company's
property in Washington amounted to
approximately S328,000 in October
and s2996,0O0 in the 10 months of
this year, the report concluded.
Ration Coupon Banking Near.
In the financial district yesterday
1t was predicted that ration coupon
banking in the Washington banks
and elsewhere, will start late in jan
Uary Counting branches, the banks
will handle the coupons at 81 Of
fees here.
The Office of Price Administration
has notified the American Bankers
Association that notice of the actual
start of the plan will be given in
ample time for all arrangements to
be completed. Official instructions
for guidance will be provided
Instructions regarding supplies.
such as checks, deposit tickets and
other forms will be included. The
OPA states that service is to be
worked out on cost basis" mat
ter of vital import to the banks.
John A. Reilly, president of the
District Bankers Association, said
yesterday that bank officials are
following the ration plan develop
ments closely and will be ready to
install the system when asked to
do so.
Some banks will have to have
extra. windows and extra help to
handle the expected large amount of
special service