Evening star. [volume] (Washington, D.C.) 1854-1972, 1943-02-26
January Transit Net
80 Per Cent Ahead
OF 1912 Month
Higher Operating Costs
Help TO Offset Sharp
Rise in Revenues
BY EDWARD c. STONE.

year ago, al lIlCIedSG Oh oil. oS y I
or 90 per cent. according to the
monthly statement filed with the
Public Utilities Commission today.
Operating revenues scared At:
per cent during the month. reach.
ing S2,402 .94l09, a gain Of s770.-
665.l2. Operating expenses were w
1886, 692 SO, or 80 per cent heavier
than last year.
Taxes totaled s554,790o2. an in
crease Of S370.409. 40 over January
1912, and jump of 200 per cent
Provision for depreciation amounted
to $3.50. 86l23, an increase of IS pei
cent.
Incorporating income totaled
S2,954,73, compared with only s3735e
in January year ago. a startling
rise Of 5000 per cent. January rev.
enue passengers numbered 34,7e3,-
$50. an impressive increase over
January, l942, of ll,44o,552, or 4s
per cent.
b. & o. Revenues Mount.
Scoring sharp increase Of S6.954,
Sos over January, 1912, operating
revenues Of the Baltimore g. Ohio
Railroad reached s27,l3a,l59 in the
first month of this year, it was an
nounced today.
Operating expenses were kept well
under control, the total of s18,223.-
78l being an increase over January
1912. of only s2,531 ,434. Railway tax
accrualS for January increased
Sl,967,840 over January year ago
nearly all the rise being due to an
increase for Federal income taxes.
January net income. after pro-
viding for all taxes and other
charges. was s2,637,S34, a substan-
tial upturn over January, 1912, OF
S2.l67,291, the report showed.
Freight traffic. totaling s22,900.-
$40, disclosed a gain of S5.095 .523
over the same month a year ago.
Passenger traffic registered a gain
OF 81 ,485 ,288, while express revenues
were sl55 ,oS6 better than last year.
w. r. & E. 1912 Net Lower.
The Washington Railway e. Elec-
trio Co. in the annual report being
distributed to stockholders today,
shows net income of S2,961,7l4 for
1912. compared with 1886 1862 in
l94i, the figures excluding the COM
pany's equity in undistributed earn
inss OF subsidiaries amounting to
s636,Sl5 in 1912 and $513,548 in 1941.
The company. unit of the North
American system, includes the an
nual report Of the wholly owned
operating subsidiary, the Potomac
Electric Power Co.. and the finan-
cial statement of the Capital Tran
sit Co., a so per cent owned subsid-
larry. both companies doing a record
wartime business.
AS a result Of wartime expansion.
Potomac Electrics property and
plant account exceeded 500. 900 900.
It's gross income exceeded $40, 900 900
and its total electric sales exceeded
Ia billion kilowatt hours. The COM
Dany's peak electric load also
reached record high at 10000
kilowatts.
Expansion Costs S8,355,524.
Potomac Electric's construction
in 1912 totaled $685.
524., After retirements net property
additions were s7,281,667 The addi-
ton Of ,00o-kilowatt unit in
creased the conpanys generating
capacity to 355,000 kilowatts during
the year and installation of another
SO. oO0- kilowatt unit is scheduled for
1913.
Average use Of electricity by Po-
tonlac Electrics residential Gus
toners was 1.349 kilowatt hours per
customer during 1912 at an average
cost of 243 cents per kilowatt hour.
as compared with 1919 kilowatt
hours and 2.44 cents per kilowatt
hour in 194l. The electric COM
pany's gross revenue in 1912 was
S2o,772,2 POP, an increase of 12.5 per
cent.
Operating expenses, interest
charges and taxes were $l6.860 ,904,
up l6.1 per cent. Taxes alone in
creased II per cent to total of s4.-
334545. Net income of the electric
company was s3,sllr2s7, against 49,
e35,711.
Nees Enters Naval Reserve.
Bernard J. NeeS. partner in the
investment firm of Johnston, Lemon
81 Co, has been commissioned as a
second lieutenant, junior grade, in
the United States Naval Reserve.
Granted leave of absence by his
firm, he reported for duty today
Mr.. Nees has been one of the
most active members of the Wash
ington Stock Exchange, being a
member of the Board Of Governors
He is president OF the Junior Board
of Commerce and chairman Of the
committee OF Washington invest
ment dealers who report quotations
on unlisted securities in the Capital
He is also a member of the Exec
utive Committee OF the Southeast
ern Group, Investment Bankers
Association of America, and mem
Der OF the District bar.
Ration Banking Expa nding.
Bank officials reported today that
ration coupon banking is expand
ing slowly but steadily IN the city's
financial institutions.
Many wholesalers ARE urging
small dealers to open ration &C
counts IN the banks so that the
counting OF coupons will be done in
the banks instead Of in wholesale
Offices. A good many small mer-
chants, who are not obliged 10 open
ration accounts are following the
suggestions OF the dealers from
whom they buy supplies
Shoe rationing will soon cause a
sharp increase in these accounts in
the banks. 1t is anticipated that
practically all the shoe dealers in
the Capital will open ration bank
accounts as soon as the OPA in
structs the financial institutions TO
take them, bankers said today.
Washington Gas Strong.
Washington Gas Light common
was strong on the Washington Stock
Exchange today. so shares moving
at 10 Mergenthaler Linotype sold
a. 392,, 100 shares OF National
Mortgage & Investment preferred
came out at AS. up an eighth, and
the first sale On the board this