Evening star., 1925-04-27
GASC0MP MPANY'S NET
DECLINES $4,000
March Statement of $41,657
Income Gives Reason for
Stock Market Level.
BY CHAs. p. sHAEFFER.

Answer to the prevailing level for
stock Of the Washington Gas Light
Co was found this morning in the
March statement of income, filed with
the Public Utilities Commission. The
net corporate income of the utility for
the month amounted to only S41657.
a loss of approximately $4,000 over
the corresponding month OF last year,
when s7S,O8S was reported.
A nuge decline in sales of CONNER
clal lighting gas, ordinary meters. was
wholly responsible for the adverse
showing, perusal of the report indi-
Gates. This item, in the past month,
produced revenue of s375,385, as
against s406.102 in the same month Of
last year. Total revenues from opera
ton aggregated $419,7I1, a decline of
about $4,000, while expenses Of 1907
s13 represented but little change from
March. 1924. Taxes totaled s25.S17,
and deductions amounted to S43,ST5.
Net corporate income of the George
town Gas Light Co. during March,
amounting to $3.35s, was only half aa
great as in the same month of last
year. Operating revenues Of s47,45s
were approximately the same but ex-
penses gained about $4,000 to s39, 9,24s.
Bankers Council to Meet.
The council of administration of the
District Bankers Association will hold
a meeting this afternoon at headuuar-
ters in the Masonic Temple. Routine
business is due for discussion, and
there are also applications for mem
berstip from the Chevy Chase Savings
and the Morris Plan Bank which will
be acted upon.
A foundation for the furtherance of
educational work in American bank
ing circles was approved at the an
nual Spring meeting of the executive
council of the American Bankers As
sociation, concluded last Friday at
Augusta, Ga
Under preliminary plans adopted at
the meeting the foundation will begin
functioning upon the fifteenth ami
versary of the American Bankers AS
ISOLATION this Fall with initial mini
mum resources. of $4,000 A goodly
part of this sum was subscribed at
| the meeting.
The functions of the foundation
have not been definitely outlined as
yet. Joshua Evans, jr., executive vice
president of the District National
| Bank. who attended the sessions. is Of
| the opinion its funds will be expended
| in aiding only the worthy who are
| handicapped by lack of sufficient
funds.
sWOman Lightning Counter.
This actually happened at the Sc
curity Savings and Commercial Bank:
A woman customer, carrying a saw
| fngs account of several hundred dol
lars, came into the bank recently and
asked for her money. When asked by
bank officials, who sensed some con-
s:ructive criticism of their admins
tration, the reason for the with
drawal. she said: II am not with
n
| how much I have. The figures in NV
pass book mean nothing to me. as 1
! can neither read nor write-but l
can sure count like the devil
Buys Local Exchange Seat.
The Washington Stock Exchange to-
| day added a new member. Edward L.
| Hfilyer of the Union Trust COMPANY.
who purchased the seat of Edward J.
tStellwagen, president of the Union
Trust Co.
Trading on the exchange brought
! out strong tone in utility securities
Railway common sold to the extent OF
ESQ shares at 109. while the preferred
gained fractionally to S11< on sales
| Of 137 shares. Capital Traction was
| firm but unchanged at SO. Railway
IS moved upward fractionally to
1915. while Potomac Electric IS sold
at lOI
Riggs National Bank opened at s43,
but later eased off to 342A, and Amer
| ican Security and Trust Company was
unchanged at 325. Lanston was
| slightly flrmer at SOS.
/. C. c. HaIts Rate Move.
Proposed increased rates on iron
and steel articles from Cleveland,
Canton and other points on the Wheel
| ing and Lake Erie Railroad were
held to be unjustified today by the
Interstate Commerce Commission. The
| increases would have ranged from l
to cents per 100 pounds to destina-
| tions in Ohio and Pennsylvania. The
| commission first had ordered the
rates suspended in February.
Rates on iron and steel articles mov-
ing from st. Louis to destinations in
| the Mississippi Valley were held
| reasonable today by the Interstate
Commerce Commission. The schedule
had been attacked by the st. Louis
1 Cho Of