Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-08-27
GAS LIGHT FIRMS.
MAKE LARGE GAINS
Both Washington and George
town Companies Report
Increase in Revenues.

Very substantial gains are registered
by both the Washington Gas Light Co
and Georgetown Gas Light Co. for the
month of July this year. as compared
to July of last year, in the monthly
operating reports submitted today to
the Public Utilities Commission. Gain
was also shown in the figures for the
year 1929 to date.
pany took the surprising jump from
$8,71763 for July, 1923, to l9,425. rs
for July, 1929. The Georgetown COM
pany net income rose from $4,545.64 to
$6.710.28 for the same period.
These figures reflect the upward trend
revealed yesterday both by reports from
the size of gas sales of the companies
production reports, and by reports of
the American Gas Association on 81
companies, for the first six months Of
this year.
Income Reports.
The Washington Gas Light Co. had
a gross corporate income of SIS, 648. IA
for July this year. as compared with
SOS. 720.52 for the same month last year.
Operating income for the Washington
company increased from SCI, 578.O4 July,
1928, to $76,328.l2 this July. while
showed a reduction during the same
period from $264,377.87 to $262. 167 81.
The Washington company SO far this
year Is far out in front of last year,
with increased income and reduced
operating expenses. The total net in
come for 1929 to date is $597, 970.29. as
compared to $499 ,969.3 80 last year. while
total operating expense fell off during
the comparable periods from $751;
iy, 20 t,,
The seasonal drop from June to
July was less this year than last. the
falling off for 1929 between the net
income for the two months being only
$43.289.07 this year, as compared to
SOL .757.85 last.
The Georgetown Gas Light Co. like
wise showed substantial gain this year,
gross corporate income increasing from
$9,373.62 fro July, 1928, to $1l,7l6.39
from $7,647.28 to $l02l1.88 for the
same period. while total operating ex-
penses also showed a gain from $43,-
906.06 to $46.1764l.
For the year to date, 1929 is well
ahead of 1928, net corporate income
for 1929 standing at SOS. 561 Al, as COM
pared to $72,212.15 for 1928. Total OPP
Grating income for the year to date
is S12l .58l.52 in 1929, as compared to
penses also increased during the same
period from 1895, 1854 to $448, SO.
Like the Washington company also,
the seasonal falling off from June to
July was less in 1929 than in 1928.
the drop in net income being $3762.72
in 1929, as compared to $4,2939 SO for
1928.
Baltimore & Ohio.
no q, Do M
In a statement of earnings and ex-
penseS, made public this morning
shows a gain in net railway operating
income for both the month Of July
and for the seven months Of 1929 as
compared to last year.
Net income for July shows an in
crease of $330.172. from $4,848775, July,
1928. to $5,178947. July. 1929. For
July, 1928, to $5178.947 July, 1929. For
In operating income is $5,108,652, the
difference between $22.561,13 for 1928,
seven months, and $27,669,787 for the
flrst seven months of 1929.
Net revenue from railway operations
for July show gain of $68385l and
S6285,971 for the seven months over last
year.
Electric Output.
The electric output of North Ameri-
can subsidiaries, including the Potomac
Electric Power Co., the Washington
Railway 81 Electric Co. and the Brad
dock Light & Power Co., for the first
half OF 1929 was 1882. SOC, 900 kilowatt
hours. it was reported today by the
company president in his quarterly
letter. This shows an increase of more
than Is per cent over the output Of the
same companies for the first half 1928,
hrinp}r1O the niltnut for tho months
ended June 80. 1929. to nearly six and
one-half billion kilowatt hours. Aver
age weekly output during the first six
months of this year exceeded l28,00O,-
600 kilOwatt hours. Record weeks were
those ended May % and June 81. when
the output was over 132,000,000 kilo-
watt hours.
Concerning new Substation in
washington. the report says:
CONSTRUCTION work is under way on
the new substation of Potomac Electric
Power Co. designed to feed into the
present network. supplying the business
district of Washington. Additional IA
cilities are necessary to meet the in
creased demands in this erea and to
anticipate the electric requirements re-
sulting from the extensive building
program recently inaugurated by the
Federal Government for the concentra-
of the area between the White House
and the Capitol"
The North American Co. in its con-
solidated balance sheet shows property
and plant increased from $698, 486, 364.69
on June 80, 1928, to $745, 1854, 651 SO on
June 80, 1929. The surplus shows an
increase from $811 ,582 ISL "A on June
30. 1928, to 1865, ST. ,243.73 on June 80,
1929.
ID. C. Exchange.
Prices ruled steady on the local ex-
change today, with trading well scat
tered, principally among stocks. WASH
ington Gas IS B turned over at 1882,
and IS A of the same company at 1929.
Chestnut Farms Dairy 6l12s turned over
$4,000, going at 1861, same as prior
sale. Capital Traction IS were steady
at 9514 and 95.
Potomac Electric So preferred went
TO 1919, Washington Gas Light in sew
eral blocks at 1873. and Mergenthaler at
los. Terminal Refrigerating Warehouse
Corporation came out at 81 y, same as
prior sale, and Merchants Transfer
q Storge common went at 116ss and
11e!s.
Heard in Financial District.
Thomas p. Hickman, vice president
of the Franklin National Bank has re-
turned to his desk after a vacation in
Maine.
Peter A. Drury. chairman of the
board of the Merchants Bank & Trust
Co. has returned from his European
trip and was at his desk today after "a
week end at Bluemont.
Bertram Chesterman, president of the
Morris Plan Bank Of Washington, will
attend the annual convention of the
Morris Plan Bankers Association, when
they will celebrate the tenth anniver-
sary Of the organization, at White Sui
phur Springs, w. Va, September 1925.
The convention will also celebrate the