Evening star., 1927-12-01
washington GAS
INCOME SMALLER
Heavier Expenses This Year
Cause Net Earnings to
Drop Below 1926.
BY EDWARD c. STONE.

Net corporate INCOME Oh LHe w dSuN
ipgton Gas Light Co. for October
amounted to $25 1929 SO, compared with
$32.259.57 in October, 1926, according
to the monthly reports filed with the
Public Utilities Commission.
Operating revenues for the month
were $435, 1861, against revenues of
S415, 5,605.32 for the same month in
1926. Operating expenses were slight
ly heavier this year, being $317,775.75,
compared with $311 1,519.50 last year.
Taxes took $37,192.13 this October,
against $32, 1917.
Deduction of expenses and taxes
left a gross operating income of
$78,953.98. to be compared with the
October figure in 1926 of $S0,222 .26.
The higher revenues for the month
were cut down by the larger expenses,
taxes and other deductions until the
above stated net income was S6,429.99
less than year ago.
Heavy Expenses Reduce Earnings.
Summaries for the first 10 months
of the present year show operating
with $4.305.671.0S for the same period
last year. The 10 months operating
expenses amounted to 6,644.74,
against $2,912, 1927 a year ago. Taxes
were $366 .434.77, in comparison with
$316,20933.
The larger operating revenues were
more than offset by the heavier ex-
penses and taxes. the net operating
income being 1917 .149.01 as against
81 ,099 672,51 a year ago. Other un.
usually heavy deductions leave net
income for the 10 months of $453,-
2O134, while this figure last year was
$500, 0,2O1.34.
Study of the different expense items
shows much heavier depreciation this
year, heavy expenses for the cost or
the valuation survey now in progress
as we'll as the considerably heavier
operating expenses. These sums, to-
gether with the expenditures for
expansion of mains, etc, explain the
drop in net earnings.
Georgetown Company Also Reports.
The Georgetown Gas Light Co re-
ports operating revenues of S65,o36.2S
for October, compared with $57,948.05
a year ago. Operating expenses
amounted to $50, 800 this year, against
SAG, 6,718.76 while taxes were SO, ,102.S2,
in comparison with S2,750.29 in Oc.
tober, 1926. Deduction of expenses
and taxes left an operating income
of S11 ,S03.44, compared with SS,479
year ago. Subtraction of all other
items left the company with net
was we'll ahead of last year, when
the amount was $5, ,1S1.09.
The 10-month summary shows a net
corporate income after all deductions
of $77,205.51, an excellent gain over
the same period in 1926, when it
was $53,87923. Operating revenues
amounted to S625, ,364.S6, in compari-
son with $549,S77.44 in 1926. Operat-
ing expenses We're S483.615.66, COM
pared with $440,935.5 last year. The
company paid out in taxes $27 ,958.06
this year, against $24,335.11 a year
ago. Deduction of expenses and taxes
left the gas company with an operat-
ing income for the 10 months of $113,-
S21.77, compared with the lower figure
in 1926 of $S4,606.99.
S6,O0O,OO0 i'm Christmas Savings.
Approximately $6,000.000 in Christ
mas savings checks was being dis
tributed today by % local banks to
$4,000 club members. AT the same
time the same banks were opening
the 1928 club accounts. Releasing of
such a large sum of money will be
felt in every avenue of trade in the
National Cipital and give Christmas
shopping a tremendous boost. The
clubs during the past year were the
most SUCCESSFUL yet conducted III
Washington. The largest club was
reported by the American Security 4
Trust Co, which with its four
branches had 1900 members. who de.
posted $504,259.
OF tho banks operating without
branches the Mount Vernon Savings
topped the list with $3SS,007, closely
followed by the Security Savings &
Commercial with $354,069. Other in.
stitutions distributing large amounts
include Riggs National. $313,636;
Franklin National, 1921, 900; Park Saw
ings, $22S.000; Washington Loan
Trust, 1922, 2,000 McLachlen Banking
Corporation, $210,0O0; Washington
Mechanics, $20S,000 Second National,
$204, 900; FederalAmerican National,
S197, 800: District National, $195,000;
Bank of Commerce & Savings, $780,
900; Farmers & Mechanics National,
$4,000: East Washington Savings,
$1O1 900; Lincoln National. branch
only, 100000; National Savings
Trust, $4,000; Washington Savings,
S95 900: Columbia National, $50 1000:
Commercial National, $4,000; North
Capitol, $4,000; Bank Of Brightwood.
$66 900; Anacostia Bank, $4,000. and
Cba,-,y Cbooa SAVINGS S4S 000