Evening star., 1925-09-28
GAS COMPANY LOSS
$16,263 IN AUGUST
Increased Revenues NuI|ified
by Heavier Gains in
Operating Expenses.
BY CHAS. p. SHAEFFER.

BY CHAS. p. SHAEFFER.
The Washington Gas Light Co. suf
fered a deficit of s16.263 for its oper
ations during August, statement or
earnings filed with the Public Utilities
Commission early this afternoon indi
Gated. Earnings for the same month
Of last year showed a profit Of S9,G03
An increase of about $23, 900 in Oh
Grating revenues was more than nullI
fed by an increase of about S4S 900 in
operating expenses. This increase is
mainly chargeabe to higher rates for
gaS-making ingredients, namely, water
gas and oil. The gain in revenues
was primarily the result of heavier
commercial light sales and sales Of
gas to other gas corporations, the re
port shows.
Operating revenues for the month
amounted to 1907. .903, with operating
expenses of S247, $50
The Georgetown Gas Light Co. also
reported a deficit during the month.
sustaining a loss of S473.70, as against
a profit of 81 .495, for the same month
last year. Operating revenues amount
ed to $4,000, and expenses to S24.935
Commercial lighting sales created
slight gain in revenues, but works and
station structure costs caused a cor
responding gain in expenses.
Trading on Local Board.
Trading on the Washington Stock
Exchange this morning. while of lighr
volume, covered a wide range, prac-
tically every popular issue of recent
vintage finding a place in the sales
column.
The general tenor of the market was
strong. Railway common stock was
active at 167, with the preferred frac-
tionally stronger at 86L. Lanston
Monotype picked up fractionally to
85is, as did Mergenthaler Linotype to
1865. Union Trust Co. sold at 199
and Riggs National Bank at 4l0
Capital Traction stock, sill selling ex-
dividend "a per cent, brought 99l.
on sales of 40 shares, and Continental
Trust Co, returned 10 activity at s.,
Bond trading was restricted to utili-
ties at unchanged prices.
Extra Easy Money Unlikely.
Interest rates have already ad-
/ vanced to such a point that abnor-
| mally easy money need no longer be
feared as an artificial and unwhole-
some stimulous TO business expansion.
| the Guaranty Trust Co asserts in its
monthly survey of business.
! The financial situation is strong, the
! report continues, and there is little
prospect that business activity in the
| near future will receive any setback
| from strlngency in the money market.
Both bank loans and interest rates re
! fleet a growing demand for funds.
! Board Reviews Production.
! Although production was less I'm
! August than in July of this year, !;
; was higher than during the Summes
/ of 1924, according to q summary o.
! conditions by the Federal Reserve
/ Board.
/ on the other hand distribution OF
! goods at wholesale and retail cor
| tinued in greater volume than d year
/ ago. Seasonal growth in the demand
; for credit arising partly from financ-
! ing Of the crop movement was Tc
! flected in an increase in the volume
! of commercial borrowing.
Comment as to the significance o.
, the change in the production Of base
! industries was withheld from the
board 5 review. 1t was explained.
/ however. that Indications pointed -
revival OF production in the earl,
! days of September.
! Larger Credit Demand.
There was a sensational growth III
/ the demand for credit arising partly
| from the financing of the crop move
ment. The increase, however. seem
ed to be greater than the usual amount
! OF credit required at crop-movins
| time.
Wholesale trade was j per cent
! larger in August than in July, while
! the retail business. as reflected by de
| partment store and mail order sales.
| was substantially greater than in Au-
! gust a year ago. The increase in re
| tail sales was characterized as less for
! August than was anticipated. but.
again. the recovery predicted for the
! first half of September was said II
| make the August drop of no Cunse-
| quence.
| Wholesale Sales Up.
In the wholesale business the board
| found sales in August 10 have been
! larger in all lines. except groceries.
! than were reported a year ago. This
/ of course, developed smaller stocks on
I hand at the start of September in
/ most lines of trade. and some lines
| were said To have unusually depleted
! stocks. Officials believed. therefore,
| that d strong early demand for Win
| ter and Spring stocks by the whole
/ Sllers would serve to buoy up pro
| duCtion.
Controller at Convention.
! Sol. j. w. Mcintosh. controller Of
| the currency. is attending the conven-
! ton of the American Bankers Asso-
citation at Atlantic City, he having
motored to the resort yesterday with
H. Ioluen DonaluSOn. president OF the
| Commercial National Bank.
Savings Deposits Grow.
| At the Atlantic City American
! Bankers Association convention to-
| day Alvin p. Howard, New Orleans,
| La, retiring president of the savings
! bank division. said that savings de
posits had increased from S20,S4 ,00O,-
! 00e to So, ,934 900. 900 in the past year
| and the number of depoSitorS from
3S.000,0O0 to 39.700 ,000
! Kent NJ. Andrew, La Porte, Ind
! urged that recognition be given by
! banks to changes in public fancy in
! selecting their investments. and Frank
p. Bennett. jr., of Boston, urged
| Stricter supervision of building and
| loan associations.