Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-02-25
GAS FIRM NETS
$1Q6,654 IN MONTH
January's Return $1,000 in
Excess of Comparative Pc
riod-0ther Local Notes.
By CHAS. p. SHAEFFER.

The first month Of the present
nsral year OF the Washington Gas
Light Company proved banner
period, according to statement of
earnings filed today with the Public
Utilities Commission. Net corporate
income for the month, the statement
showed, amounted to $10s,664. an in
crease OF about ST. over the cor
responding period of last year, itself
one of the most prosperous months
Of the year.
The gain in net was effected de-
spite an increase in fixed charges,
including taxes that jumped $4,000
to $31.317, and interest deductions
that gained $4,000 to S46,053. Net
corporate income for the month in
creased more than So. 900 to s534,S12,
with operating expenses showing an
adverse trend. lessening approx
mately $1,000 to s346, 489.
Comparative figures for the George
town Gas Light Company for jan
uary last with those for the same
month a year ago shows an increase
Of approximately $4,000. A net cor
porate income of S9,093 was reported
for last month as against only S6,77o
a year ago. Operating revenues of
this subsidiary amounted to S64,0lI,
with operating expenses of $49,7S6.
Traction Stock Higher.
Stock of the Capital Traction Co
again held the limeiight on the local
exchange this morning, selling to the
extent of 100 shares and increasing
a fractional point over yesterdays
closing to 11712.
While definite negotiations are ad
mittedly under way between the two
local transportation systems. leading
to a merger of the properties, those
II ODD in n
nying any definite offer has been made
for control of traction. Street ru-
mors are to the effect that a definite
offer in excess of the present market
has been made.
Preferred stock of Potomac Electric
Power eased off fractionall to 1861 on
a limited Offering, while Railway COM
mon was also weaker at 205 on trans
actions Of six shares Union Trust
Co.. strengthened to 235 on sales OF
10 shares, and National Mortgage and
| Investment preferred was weak
at ia.
l.. c. Approves Note Issue.
The Hooking Valley Railway Co..
unit in the proposed Nickel Plate
merger, has been authorized by the
| Interstate Commerce Commission to
issue 100000 of six months, 5 per
cent secured gold notes, and to pledge
as security $7,500,000 of general mort,
gage bonds.
The commission also authorized the
| Texarkana road to issue 100000
| 900 of first mortgage 5l2 per cent gold
| bonds, not more than 1881, 900 Of
which shall be exchanged for like
| amount of 30-year general first mort
gage per cent gold bonds. The re-
! mainder would be sold at not less than
| ~ nd
| est, and the Kansas City Southern
| would assume the obligation as guar
antor.
| New Issue Out Today.
F. B. Keech & Co. and Pulleyn &
Co. have purchased a new issue OF
| sec, 900 Yates County, New York, AZ
| per cent bonds, dated March l. next,
and due March l. 1940-42. Public of
fering is made today at prices to yield
| 40 per cent.
| The new bonds are issued for high
way construction and constitute di-
| rect obligations of Yates County,
which has an assessed valuation of
| over s14.000,000 against total bonded
| debt, including this issue, of $4,000.
Yates County, established in 1923 is
| an important fruit-growing section
ard in addition to abundant natural
! gas and water power resources, Is
| noted also as wheatproducinS
! county.
Revenue Freight Gains.
Loading of revenue freight for the
week ended on February Is totaled
! 917144 cars, according to reports
| filed today by the American Rail-
| way Association.
| This was an increase of 1929 cars