Evening star., 1925-02-02
GAS NET FOR 1924
T0TALED s@,897
Increase of S21O,526 Over
1923 Revealed in Annual =
Report for Year.
BY CHAS. p. SHAEEFER.

Net corporate income OF the Wash
lnston Gas Light Company for 1924
amounted to s766,S9724, an increase of
s2lo,525.60 over 1928. Ord Preston,
president Of tho company. told stock ,
hoideTs at their annual meeting held
today at noon
After payment Of dividends at the
rate of $3.50 per share. amounting to
S4eS,O0o, during the year, the remainder,
SzS6,o97.24, was carried to the surplus
account swelling this item to $3.50
406.l9. Surplus in 1923, after payment
or the usual dividends, amounted TO
SsS,371.64
Total net revenues for the wear were
S4,b49,419.Sl. After deducting taxes
and adding other income there remained
gross corporate income of S1,S08,-
1908, an increase over 1923 of $751;
zG5.2b. The interest deductions, amorti-'
zatlon OF debt discount and expense and
other deductions from gross corporate
income were s541 .30O.04, a decrease ar
compared with 1928 of $29,246.S4.
Repors Excellent Year.
IN his report to stockholders Nr.0
Preston stated the years Tnsnufactur-
ing results have been good and the
distribution service greatly aided and
improved by the Increase OF gas
holder capacity due to the completion
or the 10000 cubic foot holder at
West Station. and reconditfontnE old
holoers at East Station, West Sta
ton and First and K streets south
west. Ihere was also put into serv-
Ice, the latter part of the wear. a..
miles of 24-inch main running from
the East Station and connecting with
the main of the same size from the
west Station at Eleventh and s
streets northwest
The balance sheet as of December
81, 1924, shows total assets of $50.
llo,293.67 The company is capital 2
lzed at S2,e00,000. with d funded debt
or S9l99,612. consisting of s5,199.612-
or 50-year per cent gold coupon
bonds and s4,oo0,ooo of 10-year per
cent mortgage gold bonds of series
A. The unfunded debt amounts 70
sl'lol,45J.49, and the consumers nro-
portion of gas services totals s29S. -,
ezi."9. Stockholders totaIed 1852 OF
"nlch IOO3 We're women and 21a
other holders represented stock held
IN hduciary apacities
Inc directorate of the CompaUv in.
cruces ord Preston. Guy F. whiting
Joseph Letter, James NJ. Green, Rob
ert -. weaver, John D. McIlhennv ana
William King. Officers for the vear
VIII be named next Monday.
IraninE on Local Board.
sales of lo5 shares of Washiustou#
Railway and Electric common at Iar
featured trading on the local stocI-
e1chd 80 nge TINS morning. a block %
IOo shares figured in the transactions
he available supply of the issue was
ABSORBED, apparently, as there was
none offered at any price at the close
of the session.
Railway preferred had one sale or
100 shares at 81, and Lanston Mono
type was unchanged at 761z to 761.
Federal-Amer erican National Bank sold
at 225, Continental Trust Co. q [ SIS anG
Union Trust Co. at ITS.
Bonds were dull and unchanged
Program at Institute.
The weeks schedule for the Local
chapter, American Institute Of Bank-
ing, follows:
lecture, Loans and Discounts" BY +.
J. DonohUe; Tuesday, accountinc
class lecture. capitalization of Part
nerships." by Joseph K. Mover.
Wednesday, negotiable instruments
class lecture, Form and Interprets
ton" by Raymond E. Dickey; Thurs
day, elementary banking class lee
ture. Corporations" by Eliot II.
Thomson, and class in public speak
Lusk, in the Washington Stock Ex-
change rooms; Friday, credits class
lecture, Collateral Loans" by Il.
Gordon Ffnney, and standard eco1
nomics class lecture. Public Rev.
enues,' by f. J. Donohue
Railroad Revenues Grow.
Gross revenues of the railroads i'm
December exceeded those of the CORE
spending month OF 1923 for the first
time since February. 1924, while the
gain in net operating income shown.
by 81 per cent of the carriers gives
indications that the years total will
equal that of the preceding year. The
increase in December gross is said TO
forecast record traffic for 1925, while
! Improvement in net points to a saw
ings of the maximum revenues for
income. 4,
Joins Broker Firm.
Dean, Onstivia. & Co. announce Ira
Eugene Westheimer has become asso-
! ciated with them as a general part
ner in their firm at the main office, II
Wall street.