Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-08-26
GAS CONSUMPTION
At HIGHER LEVEL
D. C. Companies Share in
Prosperity of Utilities
Throughout Country.

The 'COIne-DaCk staged Dy gas Sc
curities throughout the country has
been shared by the two local companies,
as gas consumption continues to climb
the upgrade, according to official re-
ports.
While the American Gas AsSocia-
ton, in a report today to gas COM
panies, registers an increase OF . per
cent in gas sales for 81 companies
throughout the country, for the past
six months the latest figures Just sub
mitted to the Public Utilities Commits
sion here show that both gas companies
here increased their sales during July,
1929, as compared to July, 1928.
Gain in Securities.
Securities of the Washington Gas
Light Co. and the Georgetown Gas
Light Co., 1t was recalled in this con-
nection by persons closely in touch
with the financial situation here, have
enioyed a very substantial gain over a
period of several years. There was a
time, 1t was pointed out, when gas Sc
clrities suffered slump, as 1t was
feared that electricity would Suppiant
gas for many purposes. But gas APP
pears to be on the upgrade now more
than ever, according to the most re-
panies consequently have risen both IN
price and popularity. Prices OF local
gas securities in Washington have al
most doubled within the past five or six
years, 1t was estimated by a person
close to the Washington Stock Elk
change. ..,.a
progress of the gas industry Is pro-
yided by the American Gas Association
IN its report, indicating an increase OF
O ner cent during the first six months
of 1929. Based on figures reported 10
the statistical department OF the asso,
citation from 81 companies. the trend
shown in the report Is truly repre-
sentative of the times, as these COM
panies constitute q major portion OF the
industry.
Increase In Customers.
As of June 30, 1929, the customers
Of these companies aggregated 9,254.OOO,
an increase of 25 per cent as COM
nared with June 80. 1928. The figures
include the two local companies.
The increase in total sales for the
South Atlantic States. including the Dis
trict of Columbia, was shown 10 De
per cent. In all sections Of the country
the largest gains were made IN INDUS
trial-commercial and HOUSEKEEPING
sales.
Reports of the 81 companies indicate
that the amount of by-product coke
oven gas being distributed by the gas
industry is rapidly increasing. while the
quantity of carburetted water gas pro-
duced is gradually declining.
The production report OF the local
companies. filed with the Public Utllltles
Commission here, shows increases. The
Washington Gas Light Co. increased its
sales from 302 DAB 900 cubic feet of gas
during July 1928, to 308,77l 600 cubic
feet in July. 1929 The Georgetown Gas
Light Co. likewise increased its sales
from SO, 900. 900 cubic feet in July. 1928.
to 42.456 900 in July. 1929. These figures
exclude the Government and sales 10
other gas companies, and are taken to
represent the private" consumption to
industry and householders here.
Sales Gains.
For the six months period the per
cent of increase in total sales by the re-
porting companies in the various geo.
graphic regions was shown by the gas
association report as follows: New Eng
land. Sc per cent: Middle Atlantic. IL:
South Atlantic. 20; East North Central,
90: West North Central. 80: South
Central and Mountain, $40, and Pacific
Coast, 208. The abnormally high in
crease shown by the two latter divisions
were said to be due to the fact that
three of the reporting companies now
distribute natural gas and formerly sold
manufactured gas.
ID. C. Exchange.
Washington Gas bonds figured in
trading on the local exchange today.
6s B selling at 10334, as compared to
107 high for the year. Washington Gas
6s A turned over in two lots at 1914
to 1011 as compared to the last prior
sale of 102, and the high for the year
Of 1857. The "A" issue gives an APP
proximate yield of 5.35, and the B, 5.45.
today at 1913 bid and 135 asked, while
Georgetown Gas first SIS were 1914 bid
and 100 asked.
Anacostia & Potomac Railroad guar
anteed IS were active on the exchange,
$4,000 turning over at 94la, a fraction
up from the last sale.
Capital Traction sold at "a, up frac-
ton, while Washington Railway & Elec-
trio preferred was also shade stronger
at 98La on q 10-Share turnover.
Firemen's Insurance Co. came out at
4334 and 1917. Riggs National Bank
sold on a rising market from $40 to $50.
Mergenthaler was stronger in turn
over of SO shares at los and 1854.
Delegates Are Named.
Wade H. Cooper, president Of the
Continental Trust Co, and Avoin M.
Nevius, vice president of Riggs National
Bank, will represent this city In the
national advisory council which Is
being formed by the bankers indus
trial exposition, IL West forty-second
street. New York City.
The central idea Of service to the
bankers, of which there are $4,000 en-
rolled, has appealed with force to the
banking interests of the Nation. ac-
cording to Milton w. Harrison, chair
man of the board Of the bankers ex-
position. He explained 1t as follows:
organized for the purpose of bring
ing about better understanding be-
tween banking and business, part Of
the service of our exposition Is to be
found in the permanent exhibit in the
Salmon Tower Building. where already
we have 140 exhibitors installed, the
exhibitors representing industries of q
value in excess of two billion dollars.
But in addition to this we are prepared
to carry on. from our headquarters,
a continuous educational program
that should aid and stimulate inter-
national trade, furnish reliable statistics
on group buying. provide information
on finance, including the field of security
origination and destination, check as to
basic industries, transportation, mer-
chandise, distribution and construction
of all kinds.
I'm other words, the bankers expo
sition is the shop window of the Nation,
a permanent exhibit where everything
pertaining to the needs of bankers or
industrialists is shown and nothing is
for sale. The primary function of the
national advisory council will be to
suggest ways and means by which the
exposition may better serve the men,
bers Of the banking fraternity in every
section of the land"
Heard In Financial District.
John Poole, president of the Fed
eral-American National Bank, returned
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