Evening star., 1942-03-04
Higher Costs, Taxes
Cut Utility Nets
In January
Three Of Four Capital
Firms Show Declines
From Year Ago
By EDWARD C. STONE.

lOWeI IlcU cdl Ia oA4ohAS OhAA'
year than year ago, according u
the monthly reports filed with tht
Public Utilities Commission. While
all four companies experienced sub
stantial gains in operating revenues
operating expenses and higher taxes
made sharp inroads into the in.
creaSeS
Capital Transit reported net
income of S126,11173 in January, ar
84.5 per cent gain over last year, ol
an increase of S57753.77. This ad-
vance was made possible by an in
crease of 6,321, ,934 in revenue pas
sengers during the month and de-
spite a rise of 1922 in operating
expenses and S77,672 in provision
for taxes, over January, 1941.
Potomac Electric Power had ne,
income of $366,001 in January, g
modest drop of s28,624 from last
year, or 7.25 per cent. While op-
Grating revenues were up $l80,510.08
or II per cent. operating revenue de-
ductions climed to s197 432,19, or 1!
per cent. Taxes alone were $4,000
more than last year.
Chesapeake & Potomac Telephone
Co. net earnings totaled Sl6O,8Ol
against S169088 in January year
ago. a very small decrease of S8,287
Operating revenues OF Sl,575,844
were up S350,597. At the same time
operating expenses were S3ll. .l35
more than last year and taxes $25, ,623
higher
Washington Gas Light Co. re-
corded net income of $209,066
against s2l9.172 in 1941, small
decrease of s1O,166 Operating reve-
nues were s1e6,964 higher but ex-
penses were up s2O7,307. The drop
in net was mainly due to taxes, pro-
vision for which was $4,000 more
than a year ago.
American Stores Net Higher.
American Stores Co. earned Sl.66
on the common stock in l94l,
against 76 cents in 1910, it is re-
ported from the Philadelphia office.
William Park. president, states
that the sales volume during l94l
was the highest in the history OF
the company. Total sales at retail
stores amounted to s157.677475, as
compared with s124,838734 in 1910.
The annual report of the Equita-
Bile Life Assurance Society of the
United States. in more pictorial form
than previously presented, is being
distributed to Washington policy
holders. 1t reveals gains in all i'm
portant items during the year.
The Securities and Exchange
Commission has permitted the North
American Co. to distribute $4,000
shares of capital stock OF the De-
troit Edison Co. as a dividend to
North American common stock
holders. The dividend was declared
several weeks ago.
Farm Incomes Up Sharply.
Farmers received more cash in
come in 1941 than in any year since
1920 the Bureau of Agricultural
Economics disclosed.
Cash income from marketlngs
commodities under loan and Gov
ernment payments totaled s11,771,-
900. exceeding by % per cent in
comes received from the same
sources in 1910. the B. A E. reported
in it's year-end review Of farm in
come
Farm marketings and commodi-
ties under loan combined to bring
farmers S11.1 $4,000 last year, "a per
cent more than the 1910 total OF
S8.321 900, officials said.
Income from crops alone in l94l,
amounting to approximately S4,-
1000, 900. rose 81 per cent over
the 1910 total of SO 500 100000.
Barber & Ross Has Good Year.
Barber g. Ross Co.. dealers in
building materials, reported an un-
usually good years business at the
annual meeting of the stockholders
yesterday.
Net operating profit in 194l
amounted to S16O,569. after setting
aside a reserve of $152,550 for Fed
eral and District taxes, President
William L. Browning reported.
The company has retired all out
standing bonds, amounting to
s1974O1, by substituting long-term
4 per cent notes of s80,142 and pay
ing the rest in cash.
The report showed cash on hand
amounting to $211.579 against cur
rent liabilities of S74,473.
B. & o. Net Earnings Lower.
Net income of the Baltimore &,
Ohio R. R. in January amounted to
s47O,543. a decrease of SAL ,331 COM
pared with January, 1941. it was an
nounced today. Operating revenues
totaled s2O,193,592, up % per cent
from January year ago, but oper-
ating expenses increased from SILL
o55,4l9 to S15,692,347.
Glass I railroads in the Southern
district in January, 1912, had an es-
timated net income, after interest
and rentals, of s6,30O,000 compared
with S5,60O,0OO in January. 1941
Those same roads in January hao
a net railway operating income, be-
fore interest and rentals, of $10.-
$4,000 compared with $40, ,453 900 In
1941.
Operating revenues in January
totaled $66,560,000, an increase OF
24.8 per cent compared with Janu-
ary. 1941. while operating expenses
totaled s47,377 900, an increase OF
2S.9 per cent above the same month
in l941.
Retired Banker HOnOred.
Members of the Washington Stock
Exchange, at special meeting late
yesterday afternoon. rendered re-
Ception to C. J. Gockeler, retired
Washington banker now living in
New Jersey. Mr. Gockeler is still q
member of the Washington EX'
change and a former president, vice
president, secretary, treasurer aro
member of the Board of Governors
Myles H. Quail headed the Re-
ception Committee, while Edison B
Olds acted as master of ceremonies
presenting Mr.. Gockeler with two
handsome gifts.
Charles Jacobsen, Oldest member
of the exchange, was among those
present.
James H. Flanagan, new member
of the Public Utilities Commission
has been elected vice chairman. The
other members are Chairman Greg.