Evening star., 1926-02-01
GAS COMPANY NETS
S558,273 IN 1925
Corporate Income Amounts
to 6.96 Pct. on Utilities Com
missions Valuation.
BY CHAS. p. SHAEFFER,

By CHAS. p. SHAEFFER,
The net corporate income of the
washington Gas Light Co. during
1870 amounted to S55S.273.20, stock
holders were told at the annual meet
ing held at the company's offices to-
oay at noon. This net represents
decrease of $208, 8,624.04 as compared
with 1924, largely due to the increased
cost of gas oil.
Inc gross corporate income of the
company amounted to s1,1O5,O72
"hlch represents return of $50 per
cent on the Public Utilities Commits
slon s valuation of approximately SIG
ovo'ouu, winch is not recognized by
the fuel concern. The cornpanv Is
seeking figure Of about $40. 600 600
which is the fair valuation of The
properties, 1t claims, which appraisal
would lower the return TO about 5.h2
per cent Based upon the precedent
established in the Potomac Electric
Power Co. revaluation, and taking
cognlZance Of the fair return Of per
cent unofticially allowed by the Public
Utilities Commission, 1t would appear
that the company stands an excellent
chance of increasing fuel rates during
the coming year.
D,OI
5S2 ,470 cubic feet, an increase over
1924 of 1857, ,815 cubic feet There
were 623 miles of main of all sizes
In use, of which % miles were laid
during the year at cost of S233.386.
There were 1881 service pipes installed
during the period. The company,
with Is subsidiaries, had lOS.59G
meters is use during the year, an in
crease Of 4,645 more than a year ago.
Dividend distribution for the year
was S46S. 900. being at the rate of
$3.50 per share, the same distribu-
ton as made for the last eight years.
A total of s90,273.20 was carried TO
the surplus account, making a total
corporate surplus Of S6,8S4, ,72I.S2.
At the last closing of the books
stockholders numbered 1886, of which
$50 were women and 249 other holders
represent stock held in fiduciary ca
pacitieS.
Concluding the meeting, stock
holders reelected the following di-
rectors; for the ensuing year: Ord
Preston, Joseph Letter, Guy f. Whit
ing, James NJ. Green, Robert D.
Weaver, William king and Charles
c. Glover, jr. The board will meet
on February y and organize.
Trading on Local Board.
Trading was restricted on the Wash
ington Stock Exchange this morning,
with utilities dominating the session.
Capital Traction stock was firm at
105 "a, and fractionally under. on sales
OF 107 shares, While Gas stock was
unchanged at 1872. A bearish under
current was noticeable in new issues,
Potomac Electric Power preferred
selling at 108, with Merchants Trans
fer and Storage preferred easier, at
103i2 and 103.
The bond list was neglected, $500
Southern Building 612s, at 102i2, and
81 200 Gas Is, at 10334 being the only
sales.
Harper Lauds Florida Banks.
Robert \. Harper, president of the
District National Bank. returned to
Washington this morning after a
weeks vacation at Miami Beach.
Mr. Harper paid particular tribute
to Florida banks and TO the soundness
of their policy during the exaggerated
real estate program still under way.
Banking institutions there, he said,
are literally swamped with customers,
adding "a conference with the Sec
retary of War during a ma jor con-
flict would be comparatively easy
contrasted with gaining an audience
with Florida bank president at
this time" Majority OF the surplus
funds of these banks are carried in
the New York call money market,
Mr.. Harper said
Joins Redmond Company.
Edwin NJ. Stark has been admitted
to general partnership in the firm
of Redmond Co., it was announced
this morning.
Unlisted Securities Prices.
The following latest bid and
asked" prices for unlisted securities
are quoted for the guidance of hold
erS of these issues