The Washington herald., 1917-12-09
OFFICE OF THE PRESIDENT
WASHINGTON GAS LIGHT COMPANY
WASHINGTON, Dc

eept to the Company Exclusive of gas sold the Georgetown
Gas Light Company Of 49, and reduction the amount
OF annual dividends paid its stockholders of $50 compared
with the dividends paid between November l. 1910 and August
1917 In this connection the Commissions attention called to the
fact that the loss would have been considerably larger had the
Company the exercise of good business foresight In April 1915
entered into for large quantity of gas oil which would
have been sufficient for its ordinary purposes until about April 80
1918 though by of the abnormal the population
of the District which increased the demand for gas for heating and
cooking purposes the Company recently has had purchase three
millions gallons of OIL the market price of which slightly under
seven cents per gallon than twice the price paid by the
Company under of April 1915 The increased cost for
this material alone for the year 1918, together with additional oil
which and will be required during the last months Of the
present year. will be $496000 increase the Of
gas per thousand cubic feet Of 1888 cents.
During the winter of 1916 and 1917 the Company at times ex-
perenced considerable difficulty obtaining sufficient coal sup
ply its needs and there days during the winter months when
there was scarcely days supply hand The anthracite coal
which purchased during said period the Company approx
matey 500 and boiler fuel about 6 than during the pre-
vious winter
The Gas Company has had prepared from books by the
american Audit Company which submits herewith Exhibit l.
full and detailed comparative showing the quantity gas
sold from October 1915. September 80 1916 and from Oc
tober l. 1916 September 30 1917 together with the it,
including taxes of delivered at the burner; and also
men showing the of for the period of FIVE
from 1912 1916 both inclusive 5457 per cubic
feet of gas sold
From these will be that the average price per
thousand cubic feet received by Ga, Company from sales of
been October 1916 and September 3d. 1916 under the
then existing rate 921 cents and for the period between
October 1916. and September 3O 1917 under seveny6ve
cent rate to private and seventy the United States
and the District of Columbia Exclusive of gas sold the George
town Gas Light Company the average price received only
1858 cents per thousand cubic feet While during said last
mentioned period 25364064 cubic feet gas Sold
yet the receipts SIS 565lS less with increase operating
expenses of $2079793 those Of the preceding year. The
American Audit Companys statements also show that the to the
Company for delivered the burners. including taxes during
the period from October |, 1916 September 80 1916 was
50o7 cents while for the period from October 1916 to Sep
tembe ~ W. was S35S2 cents thousand cubic feet
The Company also files herewith as Exhibit No. statement
prepared by Humphreys Miller Inc. of estimated earnings
Exclusive of outside operaons from estimated sales of gas n
cudng sales the Georgetown Gas Company for the year
ending December 3D. 1915 the herein stated show
ing the rate of the value of the property (ncng the
Georgetown Gas Light Company shown said statement of
$5 OO and also of the fair amount as found
by the Public Utilities Commission December 81 1916 brought
down to include additions the property and the Georgetown Gas
Light Company property of $lO33O6OO Said statement shows
that owing the increased of manufacturing gas including in
creased taxes the existing rates continued during the year
1918 the loss gas sales Exclusive Of outside operatons will
be loss of LIZA cents each thousand cubic feet of
gas sold; and with nothing pay the way of interest
its bonded Indebtedness dividends its stockholders on the
value of the property either shown by the books of the Company
or on the fair amount found by the Public Utilities Commission
The Company also files Exhibit No. statement prepared
by Messrs Humphreys Miller Inc of the estimated Of gas
the burner (cg the Georgetown Gas Light Company for
the ending December 3D. 1918 compared with the actual
cost for the ending September 80 1917 with explanatory notes