Evening star., 1946-02-07
Three D. {. Utilities
Report Small Drop
In 1945 Earnings
BY EDWARD c. STONE.

BY EDWARD C. STONE.
While three of Washington's fou1
big utility corporations reported
lower net earnings in 1945 than IL
1914, the decreases were only mod
crate, statements filed with the
Public Utilities Commission disclose
Potomac Power showed a substantial
gain; Capital Transit the largest
decrease.
Net income of the Potomac Elec.
trio Power Co. in 1945 totaled 81 4074,.
40, compared with 1864 ,030 il
1914, an increase of S440,410 or 12.1:
per cent. The report explains thai
tax savings of S309, 9,674 for 1945 were
S251 .264 greater than such saving.
in 1914, an important factor in The
final results. Revenues and. expense.
were higher; depreciation lower.
Net income of the Washington
Gas Light Co. was practically the
same as in 1914, the 1945 total OF
Sl,293,65 comparing with $1,297,.
7l9, drop of only $4,065. Expendi.
lures of $492 900 for property ex.
tensions in the Capital were an i'm.
portant factor in holding down net
earnings.
Net income of the Chesapeake &
Potomac Telephone Co., before in
ktereSt and dividends, reached
1888 ,446 VS.. $3,012,640 a year ago
of s24,194. An increase of $670, SOC
in operating taxes prevented net
from running well ahead of 1914.
Capital Transit's net income OF
81 ,328, ,223 was under 1914 by S215.-
356, or IA per cent. Operating reve-
nues of $27 ,533.109 were almost ur
to 1914. Reflnancing charges and
higher amortization also cut 194s
net. Passenger traffic was down IL
per cent.
Bank Enters Foreign Field.
John R. Waller, president of the
international Bank, Jackson place
an investment firm, stresses in his
annual report the establishing of a
foreign department which he be-
heves will be profitable as soon as
war dislocations are cleared up
Ihe bank has secured the services of
trade and financial experts in for
eign capitals and is keeping in
close touch with the foreign situa-
tion here.
Other departments of the bank
reflect a profitable year, Mr.. Wal
Ter adds. Officers include Austin G.
Waller. vice president; Thomas B
Iawler, secretary-tre l.. J.
Dyson. controller.
Trust Conference Lauded.s
Washington delegates to the 9th
Midwinter Trust Conference of the
American Bankers Association in
New York today declared the pro-
gram one of the most practical vet
planned. Those attending included :
staaey sesurtS HSaRd Ws9 B. RHss Wssr FTanz
Lauten; Charlotte A; Engel National Saw
lngs; ii; r. J. Dooleys Ralph G. Wilson, Ma
Keefer sshh Ahur Of WEashnfGn Esn neo1 ArthqT obr
Wolf; Secsnd National; S. William Miller
II. Lefferts. Leonard Marbury. Was washington st5s
Loan. & Trust
p.o1l.I Others psss were R; B, chamberlin, Leo H
DEPUTY OF euTsnY Bas oconRoP Ml1:
odom Bureau %orris ESTaTS NJ Tov1
send, Bond Division, Treasury.
Store Stocks Show Increase.
Stocks of gods on hand in Wash
lngton department stores on De-
cember 81 were 8 per cent larger
than on the same date in 1914, the
Federal Reserve Bank of Richmond
reported today. The fifth district
average was up only l per cent.
Outstanding orders for mer-
chandise on December 81 in Capital
stores were % per cent higher than
at the end of 1914 and up 25 per
cent in the fifth district. Outstand-
ing receivables in stores here were
unchanged.