Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-11-12
WASHINGTON GAS
CO. EARNINGS GAIN
$4,000 Increase in Septem-
Der Over Same 1923
Month Shown.
By EDWARD C. STONE.


Light Co., just filed with the Pablo
Utilities Commission for September
show a gain of over SIT 1000, compared
with the corresponding month year
ago. and a gain of nearly '$l22,00 tor
the first nine months Of this year
against the corresponding earnings III
1928.
Total operating revenues IN Soptem--
Der amounted to 1898, 623.96, AGAINST
S393.SI9.76 in September, 1928. Oper-
ating expenses totaled S277,933 81, COM
pared with the higher figure year
ago of 1926, 206.87. The gas company
reported a total income from opera
tions of S89. 32727, in comparison with
$70.244.54 last year.
The company has non operating
income in September of S3,744,8S, COM
pared with $4,840.92 year ago After
all the usual deductions, the net income
} for the month stood at $50 95l03, in
comparison with S17,63l 55 in the same
month last year.
Nine Months Earnings Gain.
The gas company's statement SHOWS
that operating revenues for the first
nine months of the present year were
s4,144.685 .C6, compared with S4,072,-
1926 last year. Operating expenses
we're reported as S2,7l3, 683.52, against
S27l8.Tl2.57 in the same period i'll 1923.
Total revenue deductions amounted TO
S2o7l ,139 90, against the higher inquire
a year ago of $3,062, 345.33 These de-
auctions left the company with total
income from operations for the nlhe
months of Sl,173,5 45.77 to be compared
with last wears operating income OF
$1,O10,43753.
The company had incorporating IN
come of $4,000, against S30.685 last
wear, and gross income of 81 .198636
in comparison with ST. ,04l ,30233 year
ago. After all deductions the corpora
ton reported a total net income OF
1861, $50 a6, against $530,582.98, a gain
of 1921 ,97788 over the first nine months
of 1928.
The monthly report and summary
to date were delayed by request from
the Utilities Commission for new way
of presenting the figures making the
comparisons with last year more easy
of access.
Sunshine Through the Mist.
r. w. McNeel, Boston financial ex-
pert. who recently gave radio talk
on the stock market crash, concluded
his remarks as follows:
Sound stocks may be cheaper, but
they are cheap now. Values will pre-
vail in the long run. The real wealth
of this country is unimpaired.
thought which was given me when the
whole world seemed in chaos, in the
early days of the great World War in
1914. Never did the future seem so
dark. 1 called to see Albert H. Wiggin,
head of the Chase National Bank OF
New York, and asked him for an opin-
ion as to the probable outcome. He
refused to express an opinion. but ne
pointed to a card hanging opposite his
A. - - raI6
There is my creed Here is the text:
st believe in my country-the United
States of America. I believe in the
American people, their genius, their
brains and their Drawn. / believe in
their integrity, and dependability.
believe that nothing can stand in the
way of their commercial advancement
and prosperity. / believe that what are
termed times of depression are but
periods of preparation for greater and
more pronounced commercial successes"
That creed, which is as sound as the
American dollar, commend to those
whose confidence has been blasted by
contemplation of the panic which has
been raging, says MFR. McNeel.
Security Loans Drop S433, 100000.
The Federal Reserve Boards condition
statement of weekly reporting member
banks in leading cities on November 6
shows decreases for the week of $685.
DOC, 600 in loans and investments $685.
300 900 in net demand deposits, $33-
O00, 900 in time deposits and $44, 000,0 900
in Government deposits.
| Loans on securities declined S433,-
100000 at all reporting banks $434,
600, 900 in the New York district, $10,-
100000 in the Chicago district. $3,000,-
600 in the San Francisco district and
$4,000, 900 in the Boston district, and in
creased $12.000,000 in the Cleveland dis
trict, $1,000, 900 in the Philadelphia dis
trict and 100000 in the Richmond
district.
"All other" loans declined $4,000, 600
ut all reporting banks, S24 900 900 in the
Chicago district and $4,000, 600 in the
New York district, and increased S10.-
100000 in the San Francisco district,
100000 in the Boston district and
100000 in the Philadelphia district.
Heard i'm Financial District.
The Federal Reserve Board Advisory
Council is due to meet on November
be an unusually interesting session.
The Reserve Board has just held a
meeting, attended by Secretary Mellon
and Gov. Harrison of the New York
Reserve Bank, during which the pres
ent financial situation was reviewed in
detail
The Carpet Corporation of Washing
ton has voted to form a similar COR
poration in Roanoke, Va, for the pur-
pose of taking over food distributing
business in that city from private in
terests. Taking over the Roanoke plant
makes the sixth unit in the company's
food distribution business. Still fur
ther expansion is planed, but no new
financing will be undertaken at this
time.
J. Thilman Hendrick. chairman of
the board of the Lanston Monotype Co.,
reports that President H. D. Best has
sailed on the return trip from Brazil,
where he has been for some time or
ganizing a subsidiary company. Pres
ident Best reports large orders placed In
Brazil for Lanston products.
E. A. Campbell Of e. A. Campbell &
Son, investment bankers, returned to his
ONCE today from a business trip to New
York
Harry II. Culver, president of the Ma
tional Association of Real Estate Boards
will be the guest speaker on the Halsey
Stuart e. Co. radio program Thursday
The program will be broadcast over 9
Nationwide chain of 81 stations. Mr.
Culver will discuss Recent Tendencies
in Real Estate Financing"
-Famous-Lask has de.
CidFeu regular quarterly QIFlutuu Vi %
cents. payable December % to stock Of
record December 6.
TOday's Trading on Exchange.
Quotations on the Washington Stock
Exchange today maintained recent
levels In moderate trading.
Capital Traction again sold at 10
Potomac Electric Power per cent pre-
ferred came out at 108 and closed frac-
LII rkx
preferred opened at 1913 and closed al
1929. on a turnover of over 10 shares