Evening star., 1950-10-30
Pepco Earnings Down
Sharply in September
And Nine Months
By DonoId B, HodIey

Net income of Potomac Electric
Power Co. declined to $l93,418 in
September, compared with $3l1,-
613 in the previous month and
was so per cent below $485 ,023
in the same 1949 month, the COM
pany disclosed today in its
monthly report to the Public Util-
tiles Commission.
Net income for nine months OF
this year dropped to $3,215, ,O96, a
decline Of 1873 per cent from $3,-
6S6,104 in the same period last
year.
Operating revenues for Septem-
ber declined to $3,094,135, COM
pared with $3,140,612 in the pre-
vious month, but remained 6.3 per
cent above $2,911,525 a year ear
lier.
September operating expenses
also declined to $1,760, 1886, COM
pared with $1,856,524 in the pre-
ceding month. but were 7.8 per
cent above $1,633,740 in Septem-
ber. 1949.
For the nine months, operating
revenues of $28,034,4 ,452 were 40
per cent above s26,713,493 a year
earlier, while operating expenses
of $16,063.275 were 80 per cent
above $15,563,S79 in the 1949
period.
Kilowatt- hour sales in Septem-
Der were IL per cent above a
year earlier, while those for nine
months were up per cent.
More Deeds Recorded Here.
Deeds or real estate transfers
In the District of Columbia rose to
12,605 in the first nine months of
1850 VS.. 10,874 a year earlier, and
were the highest on record for
the period, with the exception of
1908 in the same 1916 period.
The current monthly issue of
the Washington Real Estate
Board News appearing today also
reported that 1888 deeds of trust
or mortgages totaling $152 ,428, ,406
were recorded on District property
in the nine months, compared
with 11.348 for $165, ,252. 2.053 in the
same 1949 period.
September deeds totaled 1854
VS.. 1899 in the previous month
and 1921 year ago. The months
deeds of trust totaled 1859 for
s14, ,o44 ,675 VS.. 1886 for $23. .857 .572
in the previous month and 1852
for $26. 6.365,776 in the same month.
Foreclosures in September totaled
II VS.. Is in the previous month
and f3 a year earlier.
Cost Accounts to Meet.
The role that industrial &C.
counting may be called on to play
under an expanding national de-
Tense program will be the general
theme of the Mid-Atlantic Cost
Conference of the National Asso-
citation Of Cost Accountants here
November 17-18.
Among the speakers will be E.
w. Kelley, assistant controller of
Standard Brands: J. Brooks Heck
ert of Ohio State University,
Kelly Y. Sidall, controller of
Proctor & Gamble; I. Wayne
Keller, assistant controller of
Armstrong Cork Co.
Second day of the conference
will be devoted to a panel on
Government and Industry View
Defense Business Accounting
Problems" with C. Howard Knapp,
assistant controller of the Army
serving as chairman. Delegates
from Pennsylvania, Virginia,
North Carolina. Maryland and
the District will attend the con-
ference.
Controls Held Reasonable.
With regulation x credit con-
trolls on new home more than two
weeks old. the United States Sav-
ings and Loan League said today
that, so far. there is nothing to
indicate that the mortgage re-
strictions are "either unreason-
able or extreme in view of the
apparent necessity of apportion-
ing materials between home build
ers and the war effort.
Views of the Nationwide trade
organization for 3,700 savings as
sociations and cooperative banks
representing about IS per cent of
the members of the SIS billion
business, were outlined in a let
ter sent by its president, Henry A.
Bubb Of Topeka, Kans., to Charles
T. Fisher. administrator of the
Office of Real Estate Credit, Fed
eral Reserve System.
Mr.. Bubb said, however, "it is
still too early to determine
whether these controls are more
severe than necessary to reduce
residential building to 100000 to
$4,000 new houses annually"
AiriineS Net Improves.
National Airlines today reported
net income for $181 ,O07 or 1871
cents share for the first quarter
of the fiscal year, three months
ended September 80.
This contrasted with a 521,3l2
deficit for the same period last
year.
Revenues for the period reached
$4,074,3l2. a jump of 31.35 per
cent from a year earlier. Operat-
ing expenses were up only 7.6 per
cent.