Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-07-30
GAS LIGHTS NET
IMPROVES IN June
Profits of First Half Year
$4O0, 925-GeorgetoWn Co.
Also Makes Report.
BY EDWARD G. STONE.

net income for the month of June |
amounted TO $50, 724.45 compared with |
the slightly lower figure in June, 1926. |
of G8.S44.13.
Total operating revenues for June |
Of this year were $433, 670.72, in com |
parison with $410,040.32 a year ago, |
while expenses for the month totalled |
$273,273.70 against 1864 S95.52 in the |
same month in 1926. Deducting these |
expenditures from the revenues leaves
an operating income of $122, S29.62 this
figure also being above that of last
year when it totaled $l15,78021
That the company is having an ex.
cellent year is shown by the fact that
the total net income for the first half
year is $400,925.l2. The January net
was 66,056.6l; February. 500 1880, |
March, $23.574.22; April. S77,90S.19.
and May $70,703.17. 1t will be seen
that the largest net income in any
month was in February. The six
months net in 1926 was $685. +2 so.
Georgetown Company Reports.
The Georgetown Gas Co. has also
filed it's June report with the Utilities
Commission. this showing a net in
come for the month of $8,471.14, com
pared with S5,501.72 in June, 1926.
June operating revenues amounted
to $50, 50S.4S, against S55, 003.33 a year
ago; operating expenses were $48.-
6S1.8S. compared with S44158.33 in
1926, leaving "a total operating income
for the month Of S12,15S.SS, in COM
parison with S10.S50 last year.
The company's net income for the
first half year Is we'll ahead of the
same period last year. being $56 ,230.32.
At the 1926 halfway mark the net
b11
Striking Ease In Local Credit.
Striking ease of credit in the local
Federal Reserve district was shown
by a further decline in bills redis-
counted at the Richmond Bank to
$18,982 900 on July u, the lowest
figure in years. This compared with
discounts Of $19,429 900 a week pre-
viously, and $44,217,0 900 on the COM
parative week year ago. Rediscounts
in the system as a whole also were
off sharply from last year, totaling
1898, 130, 900 against S495, $4,000 a year
ago.
Note circulation in the fifth district
stood at only S57.799,000, compared
with $50 DAB 900 reported in the pre-
vious week, and 500 900 year ago.
The Richmond ratio was 69.19
against 68.75 a week previously and
62.54 per cent at this time last year.
The entire systems ratio was 1871 per
cent, compared with 1853 per cent a
year ago.
Holders Agree to Stock Plan.
The District National Bank has re-
ported to the Washington Stock Elk
change that all the banks sharehold-
ers have agreed to having their stock
stamped emitting them to a share of
the common stock of the District Ma
tional Finance Co. for each share of
bank stock held. Practically all the
shares have been taken to the bank
for this stamping. The information
was placed on file with the Stock Ex-
change because the bank stock has
been listed and traded in on the local
board for several years.
Coast Lines Earnings i'm Slump.
A decline of more than S750,00O in
net railway operating income Of the
Atlantic Coast Line Railroad is shown
in the June report. The statement re-
vealed net operating income of
$270.218, against $1,0S8,806 in the
same month last year. Gross operat-
ing revenues We're $6037,9S1, com.
pared with $7,4S7,17S.
The company closed the first half
OF the year with net railway operat-
ing income of $S,43S.S66 compared
with $11.97S,75S year ago.
Other Financial Notes.
The Virginian Railway Co. reports
for six months ended June 80. 1927.
surplus. of $3,481 1866 after taxes and
charges, equivalent, after allowing for
dividend requirements on the per
cent preferred stock, to $845 a share
earned on outstanding 312,715 shares
of common stock. This compares with
So ,469 ,916, or $5.21 share in first half
of 1926.
The United Cigar Stores Co. of
America and subsidiaries in state
ment to New York Stock Exchange
report net income of $3,4S2, ISL, after
charges and federal taxes, against 3d.
312 ,404 in same period Of previous
year.
r. w. Carter, manager of the
Washington Office of Henry l..
Doherty & Co., reports that the Cities
Service Co.'S net earnings in June
amounted to s2,4s9,186. an increase
of $336,1S0 over June, 1926. He also
reports that net earning for the II
months ended on June 80 totaled
SIS, 204.935. an increase over the pre-
ceding IL months of $7,470,00S.
Profit Of American Ice Co. and sub
salaries just announced for quarter
ended March 81, 1927, was $148,S12 |
after expenses and bond interest, but |
before depreciation and Federal taxes. |
Heard i'm the Local Banks.
Frank Owings. cashier of the Bank |
Of Commerce & Savings, has returned |
from his vacation, which included a |
most interesting automobile tour of |
the New England States.
Vice President G. H. Pope OF the |
Munsey Trust Co, will be back at |
his desk Monday after a months |
vacation. I
President William D. Hoover of the |
National Savings & Trust Co. reached |
Hot Springs, Va, today for six
weeks sojourn at that resort.
George l.. Waldren Of the Washing
ton Savings Bank is spending a short
vacation on a visit in Virginia.
Alexander Wolf, general counsel of
the Bank of Commerce and Savings,
by his son. will sail for
in August, going on the Levia-
than.
Miss Julia Kraus, assistant cashier
of the International Exchange Bank,
has returned to the city from a vaca-
ton trip.
Bond Settlement Announced.
William G. Edinburg, New York
of the protective committee
for holders of Baltimore, Chesapeake
& Atlantic Railway Co. first mortgage
bonds, announces settlement with the
Railroad Co. whereby the
latter purchases the bonds at net
price Of $4S104 a bond deposited.
Amount of the issue was $1,5OO,OOO.
heen renorted during the week many