Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-02-01

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elected directorate will elect officers
The present officers, who most likely
Will be reelected, are: Howard
Reside, president; William b. Orme
secretary; Lawrence Townsend, treas
urer; Sanford y. Whitweil, genera
auditor: George NJ. Whitwell, assist
ant secretary; Rawlins Hume, assist
ant treasurer.
Report to Stockholders.
The report to the stockholders will
show that the current assets of the
company are: Cash. S2S1.Sl4.33: bills re.
ceivable, 4.3s1ss; accounts receivable
ceivable. S3,0o6.S9; materials and sup
plies, s5fe. 620. 60; other current assets
S1.200.0o. Total, SLABS, 63S.63.
The miscellaneous investments of the
company are; Georgetown Gas Light
Company stock, 5000 shares, $685., $3.50
Georgetown Gas Light Company bonds
s132.503.0e; Washington Gas Light Com
pany, Montgomery county. Md, stock,
4s5 shares. 100000; Rosslyn Gas Conn.,
: pany stock, 500 shares. $50. Geo 90; Ross
iyn Gas Company bonds. ISL 600. 90;
United States liberty bonds, Sill, l5o 90.
Total. $3.50. 544.5g.
Under the head of fixed capital are
these items: Fixed capital December
ST. 1909, Sf2,f76,747.9 fixed capital in
stalled since December 81. 1909, 81, SO! :
?es.79. Total. S14,071, 1868.
The items under the caption unfund-
ed debt are: Taxes accrued. S20'.-
consumers deposits, 22S,121.5S; bills
payable. s742,S51.2s; accounts payable,
S26S.e61.44; other unfunded debt, ST.
SaS.72. Total, sI,507.77s.0S.
The funded debt of the company is
set down as ffty-year 5 per cent gold
coupon bonds s5.1Sa,6 52.
Reserves are itemized as accrued
amortization of capital. 1861. 35T. 04.
and uuamortized premium on debt,
S6.120.s5
s2,600,0G0 and the corporate surplus
: S6.6ee.329.9T, making the total liabili-
ties of the company. SIG $50, S1497.
Statement of Finances.
The operating revenues of the COM
pany were s3.4S5, 147.16 and the total
net revenue ss77.4s7.S2. Taxes
amounted to s15t.sS213, which. de-
Quoted from net revenue. left the net
operating income s525. 615.s9. Other
Income" amounted to S3.131.SS. max
ing the gross corporate income S534.-
741.51. Interest and other deductions
from the gross corporate income
amounted to s2s3.557.39. making the
net corporate income S251, 1901$.
The operating revenues for 1918
were: Sales of gas. s3.352, 606.07; sale
of residuals and by-productS. ST.
662-45. and miscellaneous revenue. So
47s.64. total of s3.435.747.16.
The total production expenses. COM
prising gas-making labor. boiler fuel
water, coal used in gas making. en-
riching oil. purifying supplies and
gas storage. maintenance of works,
power plant equipment maintenance,
gas apparatus maintenance and coal
scow maintenance were s2,159.792.1s.
ton expenses were S22S,3 14. SIS. COM
prfsing transmission pumping. dis
tribution department-wages and sup
plies. inspection expenses, gas meter
gas mains, gas services and gas
meters and equipment maintenance OF
the distribution department..
Street and park lighting expenses
are set down as SI-510.23.
Commercial expenses, such as ac-
counting, contracting, collecting.
meter reading and miscellaneous, were
$151, 354G5.
Other Expenses Enumerated.
Salaries, general office supplies and
expenses, general law expenses. in
s1Irance. relief department and PEN
SionS, general amortization. injuries
to persons and property expense OF
storeroofns, stable and automobile ex-
penses, maintenance of general struc-
lures and miscellaneous, amounted to
$500. 30e.97. The total for general and
miscellaneous expenses was set down
as So, $50. 577.SI.
Dividends paid to shareholders in
1efS were s4eS.008. against 1856 600 in
1917, $4,000 in 1916. and the same
amount in 1915 and 1914.
The net earnings in 1918 were $751;
1901 Is. against s435. 1912 in 1917,
1855. 9S3.4o in 1916. $3.50. 30S24 in 1916
and S559,129.i 40 in 1914
; Meters in use in 1918 on Decent Der
!, 81 were 5000, against 1884 in 1917.
$3.50 in 1916. o5,941 in 1915 and 64T5a
( in 1914.
Elected Trust Ofdcers.
The National Bank of Washington
: has. chosen C. E. Brandenburg and
Charles Linkins as trust officers, the
bank having inausurated under the
/ terms of the federal reserve law a
! trust department to do general
trust business. such as writing Wills,
{ administering estates and acting as
trustee, executor and registrar.
At the late meeting of the directors
Of the Bank OF Washington the fol-
lowing officers were reelected: Clar-
ence r. Norment. president. Daniel
Fraser and George L. Ssarkey. vice
presidents; Albert B. Ruff. cashier
and W. Wallace Marin and Samuel r.
Baulsir. assistant cashiers a third
wee president was ADDED TO the OIL
cial staff of the bank. George P
] Sacks was elected to that office.
Discuss Railroad Betterments.
Washington bankers interested in
the maintenance and further develop
ment of the railroads believe that the
proposal of the railroad adninistra-
ton to expend this year half a Bill
Jien dollars on betterments and i'm
proyernents of the roads falls consid
erably short of the needs of the sit.
uation. They say that as the net cap.
ital of the roads is sac. 600, 900. 900, the
sum which it is proposed to Spend
represents only 212 per cent of thai
capital In the five-year period pre-
ceding the war the railroads under
private ownership spent much more
than the amount named and in that
period one dollar in the purchase OF
material and the payment of labor
was equal TO two dollars under pre-.
vailing conditions.
Washington bankers recall that in
1902 James J. Hill gave it as hi.