Evening star., 1945-02-25
Potomac Electric Nei
6% Under Year Ago
During January
by EDWARD C. STONE.

BY EDWARD C. STONE.
Potomac Electric Powers net In
come In January totaled 1858 $40
compared with s388,015 4 year ago
a drop Of $24,675, or $50 per cent
according to a report filed with the
Public Utilities Commission yester-
day.
Operating revenues totaled 81
1z0,564, up 8,702, or 3.85 per cent
Operating expenses of $1,004.74
we're $l07,712, or II per cent higher
than q year ago while depreciation
charges Of 1921 ,287 showed an in
crease of $76,704, or SO per cent
However, the tax total of $409 .9l4
was $33, $50, or 7.59 per cent lower
than last year.
Summary of the operating reve-
nue deductions reveals a rise OF
$3.50, ,729 from January. 1914. or 1915
per cent. Officials explained the
report reflected q debls adjustment
in January OF $S5,0 900 representing I
estimated rate reduction set aside
as a contingent reserve for repay
ment to customers in the event the
court sustains the order of the Pub
lie Utilities Commission.
This was the second January util-
ity report filed, Capital Transit's
net being up 30,427, or % per cent.
CAPITAL Store Sales Higher.
Department store sales here for
the week ended February II. were
10 per cent above a year ago and
were up IL per cent in the NTH
district. the Richmond Reserve
bank reported. Capital sales. how
ever, were IS per cent under the
preceding week
Cumulative sales for the four
weeks ending February II were l6
per cent ahead of last year in the
Capital, II in Baltimore, 81 In a
group Of other cities and II in the
fifth district, the report said. AS
two other weekly surveys showed
gains in February, sales for the
whole month will be well ahead Of
last year.
$4,000, 900 Paid Uncle Sam.
The United States Savings and
Loan League notified the District
Building and Loan League yesterday
that building and loan associations
Of the Nation repaid to the Govern
ment In January $4,000 900. which
was borrowed in the 1905 for use
in supplying home ownership funds.
This was 100000 more than was
repaid last July Repaymerts are
being made much more rapidly than
regulations require. the report said.
The monthly meeting Of the Dis
trict Building and Loan League will
be held Tuesday at the Maytioweri
Hotel, F. Wilson Camp. secretary,
said yesterday. A luncheon. begin
ming at 1890, will precede the busi-
ness session.
Life Insurance Assets Gain.
The Mutual Benefit Life Insur-
ance Co. Of New Jersey has just
completed 100 years in business. H.
Lawrence Choate, washington gen.
eral agent, received word yesterday
that total assets are now $937 $751;
271, up $57,000,0o0 during 1914 and
a new high mark.
Insurance in force reached S2,273.-
14s5o1. a gain of s68,000000 last
year. Investment in United States
Government bonds increased SUBJ
stantially during 1914 to $461 .907 .373,
or 3o.3 per cent of the company's
invested assets.
Controllers to Hear Burrill.
DR.. Cecil Burrill, member of the
economics department of the Stand
ard Oil Co. of New Jersey. will ad-
dress District of Columbia Control,
Controllers Institute of America. at
4 dinner meeting Tuesday evening
at the Carlton Hotel. A specialist
in the economies of oil supply and
consumption. he will speak on
Postwar Economics of the Petrol
cum Industry" DR.. Burrill had
made a close study of recent foreign
snd domestic developments in the
industry.
Board Promotions Noted.
The February Federal Reserve
Bulletin states that Elliott Thurston
Is now assistant to the chairman Of
the Board Of Governors, having sue
ceeded Lawrence Clayton, resigned.
DR.. e. A. Goldenweiser, for II years
director of the boards Division Of
Research and Statistics, has been
made economic adviser to the board,
and Woodlief Thomas has been
placed in charge of statistics, being
succeeded recently as assistant d.
rector by Howard s. Ellis. Mr..
Clayton, whose resignation caused
the promotions, is now conducting
his own investment Arm in Boston.
Baby Bonds Near Maturity.
The Governments series A Baby
sale in 1885, will reach maturity
beginning March /. holders being
told by the Treasury that they may
cash the bonds or reinvest all or
part Of the proceeds in series E
Bonds.
The Treasury hopes that a large
share Of these bonds will be REIN
vested in series E Bonds Bankers
are also advising clients to place
the funds in series e Bonds as an
excellent way to hold onto their
war savings. On proper identiflca-
tion the bonds can easily be cashed
dU bClllS Pdld
the same time. but wartime thrift
calls for their reinvestment in other
securities, bankers point out.
Savings Banks Hunt Business.
]. R. Dunkerley, secretary, say
ings division of the ABA, says saw
ings banks are rapidly reviving in
terest in hew accounts. One large
mutual bank recently analyzed ac-
counts. discovering that 80 per cent
Of its depositors were over go years
Of age and held SO per cent Of the
deposits in their books.
The bank quickly re-entered the
field OF school savings, advertised for
Christmas savings accounts and
sent every high school student in
the city copy OF Personal Money
Management" many new accounts
among young people resulting.
Chicago Groin>