Evening star., 1950-08-28
Pepco July Increase
Is S425,439, Down
S21,953 From 1949
By Edword G. Stone

Net income OF the Potomac Elec- |
trio Power Co. for July amounted
to $425, ,439, a decrease of $21,953
or per cent under July, 1949,
according to the monthly state
ment filed today with the Public
Utilities Commission.
Net earnings in the first seven
months of this year of $2,710,064
were $4,000. or 4.21 per cent
lower than last year. Kilowatt
hour sales were 5 per cent higher
than year ago, resulting in op-
Grating revenues of $21, ,799, ,705, or
a 5 per cent increase.
Operating costs for the seven
months were $17,624,184, up "A
per cent. Total utility operating
income reached $4.175.521, a gain
of over 8 per cent, the report
showed.
Transit Earnings Rise.
Net income of the Capital Tran
sit Co. in July totaled $34,849
against deficit of $15,095 a year
ago, or an improvement of earn
ings of $49,945. AS noted else
where in today's Star. this was
the first report filed with the
PUG since the higher rates were
put into effect on July 16.
Net income of the Baltimore
g. Ohio Railroad for July totaled
$1,162,953, a very sharp gain over
July a year ago when abnormal
conditions cut earnings to $50, ,O07.
The July total brought net
earnings for the first seven months
of the year to Sc, ,486, ,957, or within
$415,407 the net income in the
same 1949 period.
Contributing to Julys net in
come was an increase in total
operating revenues of $3,881, ,776
over July of last year. With the
marked July gain, officials today
predicted an upturn in net for the
full year over 1949.
Southern's Net Higher.
Net income of the Southern
Railway System in July amounted
to $1,183,424 compared with
S4,031 in July of last year. Oper-
ating revenues showed an increase
of $2,407,777.
In the seven months this year
net earnings reached $9,046,339
as compared with $4,860.691 in
1949. The roads net operating
income in this period was $11 $780,
440 against $10,780,1 ,108 year ago.
The Seaboard Air Line Railroad
reports July net as $749,871, equal
to 81 cents per share. against
$363.21 or 36 cents a share a
year ago. Net income in the
seven months mounted to
$6,65o,538, compared with $4,513,-
$50 in 1949, or $7.31 cents per
common share against $3.50 last
year.
Metropolitan Branch Opens.
The new branch of the Ma
tional Metropolitan Bank at 49th
street and Fordham Road NV,
opened for business today in a
very attractive new building con-
structed by the bank. Francis E.
Hildebrand, one Of the veteran
vice presidents, is in charge. as
sisted by other personnel from
the main Office. including Bernard
E. Thomas as assistant manager.
Many people in the neighbor-
hood were present when the doors
were opened, wishing to make the
first deposit. This deposit of
100000 was made by A. N. Miller.
of the w. c. 81 A. N. Miller De-
velopment Co., builders of the
bank.
The bank is a modernistic two
story building. The branch offers
every banking facility. c. F.
Jacobsen. Metropolitan president,
is chairman of the advisory board.
Stocks Grow in Favor.
That the public thinks more
highly OF stocks as an investment
in which savings (can) earn the
most money and still be fairly
safe" has been shown by two sur
veys conducted two years apart by
the Psychological Corp.
The first survey in April, 1948,
showed only per cent believing
stocks to be the best money
earners with fair safety, but in
April of this year they rated 19.1
per cent.
Other "bests" were Government
bonds (showed slight loss), life
insurance, savings bank, real es-
tate, industrial bonds.
Convention Plans Pushed On.
The District Life Underwriters
Association is starting a drive to
have 500 members before the
opening of the national convention
.at the Statler, September 25.
Norman johnson. Wire Building,
is the membership chairman.
Carlton J. CorliSs, member of
the public relations staff of the
Association of American Railroads,
in Washington, has unearthed a
scrapbook which presents the early
history of the Illinois Central
Railroad. He has worked three
years on research for the road.
The authors findings are soon to
be published by the Creative Age
Press, New York.
Thienao ivae%ork