The Washington times., 1928-02-07
CAS- CO. KEEPS
DIRECTORS
By RICHARD HATTON

80 El6cLlOu Oh ulT6CbOEA eAAA0 $500
report or President Preston were
features 81 the annual meeting OF
the stockholders Of the Washington
Gas Light Company held yesterday.
President John B. Larner, Of the
washington Loan and Trust Com
pany, presided, and the following
were reelected directors: Ord Pres
ton, Robert ID. Weaver, joseph
Letter, James M. Green, William
King, Charles G. Glover, jr., and
Edward j. Stellwagen. The board
win meet next Monday for organi-
zation and the election Of the OF
ficers Of the company.
The report OF the president ais
closed that the net corporate income
of the company for the year ending
December 81. 1927, showed q de-
crease OF $142,955.43 compared with
the figures for 1926. Dividends dis
bursed during 1927 amounted TO
1858, 900, and $116.0SS.S3 was trans
ferred to surplus.
The decrease IN income was ac-
counted for by the increase ln
amount set up for depreciat ions
taxes, interest and expenses IN con-
Tlection with the valuation now be-
ing made Of the compa1ly's prop
erty. The dividend disbursement
was the same as has been made for
the last 10 years.
Heavy Gas Selling
President Preston reported that
the total amount Of gas sold was
5,773 PSI ,104 cubic feet, an increase
over 1925 Of 81 ,s05. 4s1 cubic feet.
He also stated that there Il 1t pres
emit under construction modern
concrete and brick building on
Twenty-ninth ST. N. WI. just south
81 Pennsylvania Avenue, for use as
repair shop for meters. store
room. fitting department and ser.
vice station. The company laid 19
miles OF new mains during the year
at 4 cost Of S199, 302 .Ob.
The December 31 balance sheet
showed total fixed capital Of 800.
274, 1900, current assets Of $780,.
216.3S, miscellaneous assets o.
$917, .69 and an expense item Of
$172, 134.9l, making the company 4
total assets $22,97O, $500. The
Public Utilities Commission valua.
ton expense has cost $40 $50 tc
date.
The company has capital stock
and bond issues totaling SO, 100 ,612,
current liabilities Of 81 Az ,26O.64l
accrued liabilities of $693 Plots, re
serves OF 1862, 361.9B and surplus
OF 6,693, 408. So The balance sheet
shows q gross corporate income for
the year of .$1,234, on .S4, leaving
after all deductions the above men
toned net Or $5s3. 0ss.3s. The com
par1ys total operating revenues
reached $5,354, 4z7 SO.
Sea shore or nountainsg That e
the question which will have to be
decided by the council of admins.
tration Of the District Bankers ~
ISOLATION with regard to the meet
ing place Tor the next annual CON
yention OF the organization. Pres
ident w. w. .Spaid Of the associa'
ton accompanied by such expert
| locationists as Harry W. Haynes, Ed
ward j. McQuade, who heads the
convention committee, and Lutlrel
| Schreiner. who win supervise the
| sports program. spent the weekend
| In Investigating the possibilities o.
AOnLAuk EOlAAt. LIS Hes 0AAA4 Wit HNA0
nit their report to the body having
final decision.
Business Session
1t was gathered from members 81
the scouting party yesterday thai
the facilities offered by the Ions
Island resort are all that could BIZ
desired In the way Of accommoda
lions, golf and other sports and
that there Is an auditorium which
could be used for the important
business sessions Of the convention
| While members of President
Spaid's party were hesitant about
expressing decided opinions In ad
| vance of the action of the council
/ OF. administration, 1t was Learned
that they were favorably impressed
with the seaside resort and with
| the accommodation offered. It II
understood, however, that severa
other possible locations will be con
| sidered, including, OF course, the ole
standby, Hot Springs, before fina
! decision is reached.
Transactions OF G. r. Chiids a Co.
the oldest house In America spe
cializing exclusively In government
transactions and instrumentalities
set new high record in 1927, &C
cording to President c. Frederick
Childs. I'm reviewing our 1872
volume of transactions" said Mr.
Childs, 1--WE are pleased to note thai
they exceeded the combined sales o.
| all classes OF bonds on the New
York Stock Exchange"
Washington Chapter, American
Institute of Banking, yesterday is
sued invitations to the twenty
fourth annual banquet of the or
ganization which will be held al
the New Willard Hotel on the eve
ming of Saturday, February IS, be
ginning at o'clock. This is one O.
the major events Of the year in thu
| chapters activities and the affair II
| oil Iosovn11y ~ ENp