Evening star., 1950-01-30
1949 Pepco Earnings
12.7 Pct. Ahead Of
Previous Year
Ry Edword c. Stone

Electric Power Co. for the full
year 1949 reached $4,3O3,222, ar
increase of $486,321 or 1877 pei
cent over l948, officials reported tc
the Public Utilities Commission
today.
Kilowatt-hour sales were Az
per cent ahead of 1948. During
1949, operating revenues totaleo
$35 ,644 ,054, up Ills per cent; while
operating costs Of $29 ,377 ,183 were
9 per cent above 1948. Total
utility income amounted to So
130,673, gain of 80 per cent.
During the year 1949, gross ad-
ditions to plant of 23,536,618 were
made to provide additional gener'
ating, transmission. distribution
and other facilities necessary II
meet customers service needs
Over 100000 already has beer
invested in the new Potomac Rive
Generating Station.
Net income for December totalec
S235, ,083, a decrease of $97,166 OF
% per cent from the same month
year ago.
Transit Earnings Lower.
The Capital Transit Co. today
reported deficit for December o.
S328,267. This compares with ar
income of $2,305 in the same
month a year ago.
Net income for the full veal
amounted to $318,958, decreas'
of $77,777 from 1948. Operating
income was $104,878 lower thar
n 1948, the PUG report said.
Revenue passengers for the yeal
o49 totaled 07,634,5o5 or TO-;
II cent lower than in the previ.
is year. The December drop ir
ovenue passengers was 1896, ,099
New Traffic Records Noted.
Traffic on American Airlines
nc, during 1949 set a new high
record in the company's history
Vice President r. E. S. DeichleI
announced today. New passenger
traffic records were established,
100000 passengers being trans
ported, an increase of 16 per cent
over 1913.
Air cargo continued as the
fastest growing element in the
company's business, freight traf-
fc scoring a AZ per cent upswing
The company found two products
relatively new to the cargo field
especially productive last year.
More than a million pounds OF
flowers were carried from the
West Coast to Eastern market
The volume of anti -hiStamine
drugs carried from Buffalo alone
approached half a million pounds
The company instituted Spe-
cial program of tours which
brought in substantially higher
revenue, the report said.
Equitable Officers Named.
Charles E. Phillips was elected
president of the Equitable Life
Insurance Co., of Washington
following the annual meeting of
the stockholders. Other officers
for the coming year include:
Joseph Sanders, vice president:
Gilbert c. Clark, executive vice
president and secretary; Gilbert
A. Clark, vice president and ac-
tuary; Lauriston H. Hannah, vice
president and manager of agen-
cies; Clyde D. Garrett, counsel;
Frederic M. Nettleship, secretary
Of agencies; Fletcher c. Benton,
Lloyd A. Brewer and Jesse H.
Gatewood, assistant managers of
agencies.
Electric Ironers in Demand.
Details from the monthly re-
port of the Electric Institute
show a rising demand for electric
ironers during 1949, sales totaling
1928 against 2,357 in the previ-
Gus year.
, Ranges registered a decrease
from 1859 to 1904. Refrigerator
sales also were off, 20,048 COM
pairing with 22,844 in 1948. Home
freeZers were in much heavier de-
mand, sales reaching 1888 against
1878 in the previous year.
Sales of electric washers totaled
21,799 compared with 23,587 a
year ago. AS already noted, there
was very sharp rise in the de-
mand for television sets but sales
Of straight radios declined.
E. B. Woodruff to Retire.
E. B. Woodruff, for % year.
manager Of the Washington Mort.
gage Loan Agency of the Massa.
chussets Mutual Life Insurance
Co., will retire tomorrow. He ha!
been manager since April, 1923.
Territory covered by the Wash
ington Office includes seven nearby
states. Mr.. Woodruff will be sue.
ceeded by Thomas j. Bennett wht
has been assistant manager since
January l, 1946 when he returned
from service in the Navy.
Assets of the First Federal Saw.
fngs & Loan Association, of Ar.
lington, passed the $5.000,00t
mark in 1949. All officers ane
directors have been reelected in.
cluding Allen C. Adams, president
and John P. Balster, secretary.
manager.
Edward Early, program chair.
man. and Joseph P. Burke, jr., vict
chairman. were praised for tn,
very elaborate entertainment a
the annual dinner of the Building
and Loan League, at the Mayf1owe
Saturday night. Attendance set
record.
ID. C. Office Stands Fifth.
The Washington Office of tn
Jefferson Standard Life Insuranc
Co. wrote $4,527, 900 in 1949 an
stood fifth among the company
agencies.
The j. D. Marsh Washingto
Agency of Lincoln National Lif
ranked first among all compan