Evening star., 1943-02-03
three D. {. Uii|itie,
Report Lower Nets
For Last Year
| Telephone Company
Shows 1912 Gain
Of $207, ,6l3
By EDWARD c. STONE.

l. BY EDWARD c. STONE.
Three Of Washington four bis
utility corporations. reporting tc
the Public Utilities Commission
have just announced lower net
earnings in 1912 than in l94l. Two
ef the decreases we're small, the
Companies almost breaking ever
With the preceding year Taxes
and other growing expenses offse1
sharp gains in operating revenues
The Chesapeake g. Potomac Tel
(phone' Co. reported a good-sizeo
gain in net earnings for 1912, while
the Potomac Electric Power. Cap
Hal Transit and Washington GA.
Light Cos. failed to equal the l94]
results. Earnings, however, were
Substantial and will prove cheering
news to the securities holders.
The total net income of the Ches.
apeake g. Potomac Telephone Co
N 1912 was $1.716,78l, an upswine
0 $207 ,613 over l94l. During the
year operating revenues climbed
from $l5,830,8 ,867 to .$21 ,496, ,243. IN
the same period operating expenses
moved from $11,769,02l to SIG, 1872
362 and operating taxes alone ad-
vanced from 81 ,506 .622 to $2,110, ,206
Net income of the Potomac Elec-
tric Power Co. reached $391l,297,
yet was of $27,413 from 1941.
Operating revenues were up S2307,-
202, but operating expenses were
<2,320,373 more than a year ago,
the tax bill alone increasing by
$l,257,s52.
The Washington Gas Light Co.
came within $42,431 of the $1,127,-
664 net In the previous year The
company reported rise of 81 ,322,-
1877 in operating income, but this
was considerably reduced by an
increase of $1,269, 100 in operating
expenses, including taxes. Deduc-
tions for interest and dividends
were $69,571 larger than a year ago.
and incorporating income was
lower.
The Capital Transit Co. had a
sensational gain of more than
5000. 900 in operating revenues, but
the net income of $1,022, ,663 was
$3.50 0.S13 under last year because Of
special appropriations ordered by
the Public Utilities Commission of
100000. OF this sum, $500, 900 was
set aside for property adjustment
and $200, 1000 as reserve for debt
retirement. Without these appro-
praationS, the company would have
had gain of $41S,l86.
Lean Concern SO Years Old.
The a2d anniversary of the found
Ing Of the District Building q Loan
Association was observed yesterday
By President George A. Baker, Sec
retary-Treasurer r Wilson Camp
and the other oficers. The institu-
lion has assets amounting to 1885,
boo. Of which $2,s73, 900 is represented
BY first trust real estate loans.
For many years Mr.. Camp has
,een secretary Of the District Build
ng and Loan League. and the on
:ers are also active in the United
States Savings and Loan League.
c. H. Doing Is Appointed.
Charles H. Doing, vice president
II the Washington Loan e. Trust
Co., and manager of the West End
'fdce, has been appointed treasurer
II the Metropolitan Area War Fund
Drive Of the Red Gross Campaign,
Chairman A. G. Neal announces.
VI. Doing has been treasurer of the
roll call for the last Is years and
has Also served on the Red Cross
Committee.
Mr.. Doing is Z former president
k the District Bankers Association,
member Of the Board of Trade,
treasurer Of Homeopathic Hospital
and trustee Of the John Dickson
Home.
lnstallment Loans Increase.
The Federal Reserve Board re-
ported today that consumer INSTALL
ment loans made In December were
larger than In November for all main
groups Of lending institutions. Small
loan companies led with a 80 per
cent gain.
Credit unions recorded gains of
. per cent; industrial banks, "a per
cent and commercial banks, II per
cent. At the same time repayment
OF consumer debt In December ex-
ceeded the volume of loans made,
balances declining by 81, 900, 900, or
S.5 per cent. the report said.
Gas Common at New High.
Washington Gas Light common
registered a l00-share sale at 17ai
on the Washington Stock Exchange
today, highest price this year. The
last previous sale was made at 17H
The market closed with 173s bid
and 10 asked.
Twenty shares Of Washington
Gas IS preferred stock sold ex-
dividend today at l00ss. up IS. Lin.
coin Service Corp. common ap.
peared on the board for the first
time this year, changing hands al
ilia.
The Treasury has announced that
sales OF Series E, F and G Wal
bonds totaled 1920, ,444, 900 in Janu.
ary, breaking all earlier monthly
sales records in the Nation wide
drive. Sales were II per cent aheae
Of January, 1912.