Evening star., 1925-03-02
GAS CO.'S JANUARY
NET GAINS $4,000
Income Totals $91,87e.
Traction Reports $7O,111
Net.
BY CHAS. p. SHAEFFER.

Net corporate income of the wash
lngton Gas Light Co. gained
about $25 900 in January, 1925, as com
pared with the corresponding month
OF last year. according to monthly
statement filed with the Public Utili-
ties Commission this morning.
The net for the month amounted to
S9l,S79 in round numbers, as com
pared with $66.607 in January OF last
year. Operating revenues increased
from S415,0O2 to s510,973, while oper-
aIhg expenses show only nominal
increase from s342,547 to $351,I58.
EARNINGS Of the Georgetown sub
sidlary slumped from s7.3l6 to $6.77o.
revenues amounted to $54,749 and ex-
penses to $43,012.
Capital fractions Net.
a gain of only about $500 in oper-
ating revenues while expenses rose
Sl"'oOo was responsible for a loss of
more than $4,000 in net income of the
Capital Traction Company for Janu-
ary, this year, as compared with last.
me months return amounted to $40
lll.T, as gainst s75,9997S for the
same month of last year, and with
sS6.319 in December, last.
operating revenues totaled s403,-
so9.S' with expenses of $273,689.47.
Iaxes assignable to railway opera
OF $29,254, including s23,358 for inter
est on the funded debt.
Iraihc statistics furnished with the
report shows gain of 1928 in cash
rare as between the two months,
o'fl6,56S availing themselves of the
tacihtles of the company during Jan
uary of this year.
Treasury Loan Discussed.
The form of the new Treasury loan
on March fs is occupying the atten-
ton of prognosticators in the local
financial district
The Government will be forced to
pay out on that day more than a bill
lion dollars-s601,5 599, 500 in Treasury
notes dated February 1, 1922, series
A, 1925, bearing AZ per cent, and
saoo'zSo,o00 Of certificates dated
March Is, 1924, bearing per cent. in
terest In addition interest disburse-
ments will be made on the third Lib-
erty "a per cent loan
To meet these expenditures the
Treasury has about $225, 900 in the
general balance, while several hun
dred millions of dollars will be re-
ceived as first payment on the 1924
income taxes. Due to the reduction in
this tax from last year 1t is sheer
guesswork to estimate what the first
Local bankers are inclined to the
belief the new loan will take the
form of notes of possibly three years
maturity. The rate will be governed
by the money market at time of issue.
The last long-term loan of the Gov
ernment was foated at per cent,
while the short-term paper was sue
cessfully placed at a rate of "a per
cent.
Local Stocks at New Peaks.
Local securities continued their
movement into new high ground in
today's session, both Mergenthaler
and Railway common reaching un-
precedented levels. The former
brought 1S2 on sales of 10 shares.
while the latter. opening at IO3A, ad-
vanced to 103 II on subsequent sales.
The best previous effort of this issue
was 103, reached at the close of last
week
Railway preferred was pegged at
s017. Capital Traction gave evidences
of shedding its ethargy of the past week
when initial sales were made at 92A,
but thereafter the stock eased off to
go. selling at this figure throughout
\ the remainder of the session. National
Mortgage and Investment preferred
was active to the extent of 400 shares
at 81.
Bond trading was restricted to
utilities at firm levels.
Program at Institute.
The schedule for the local chapter.
| American Institute of Banking is
announced for the week as follows:
Tonight-Standard banking class
| lecture, Acceptance" by F. ]. Dono-
| hue; Tuesday-Accountin class lee
| ture, 'Consignments-Ap Sales"
| by Joseph K. Meyer; Thursday-Ele-
| mentary banking class lecture, Gen
eraI Ledger-Credit Balances" by
Eliot III. Thomson, and public speak
| ing and debate class. by Rufus Lusk,
| in Washington Stock Exchange
| rooms; Friday-Standard economies
| class lecture, Public Debts" by F.
]. Donohue, and credits class lecture,
Influence of Federal Reserve Bank" :"
| by r. Gordon Finney.
There will be no meeting Wednes-
day.
Cashier Back mt Desk.
NJ. F. Calnan. cashier of the Liberty
National Bank, returned to his office
| this morning after a weeks absence,
minus tonsils and adenoids.