Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-26
WASH|NGTONG GAS
INCOME DECLINES
Heat Wave Declared Re-
sponsibIe for Drop in
Net Earnings.
BY EDWARD C. STONE.

the earnings OF the washington Gas
Light co. in August, according to the
financial statement Just fled with the
Public Utilities Commission
The total net income for the month
was cut down to S2,829.19, compared
with $2l $685. in August. 1929. The
reduction was largely due to the diff
ference in the amount of gas sold dur
ing the month, sales totaling $685.
l54.79, compared with $345, 23o.48 a
year ago.
Operating revenues for the month
amounted to 1897, 1878, against S354,
OOPS In August Of last year. Oper-
sting expenses required $3.50, 1852, in
comparison with the considerably lower
figure last year Of $252 ,576.Se.
Total revenue deduction were S277,-
$50, compared with $275. 891.87 in
the same month in 1929. These deduc-
tons left a total operating revenue of
SIS. 600.19, against $7S,I76.41.
Miscellaneous revenues were also of
during the month, total incorporating
income amounting to $2,459.68 against
&3.562 20. Gross corporate income was
$62,259.87, compared with the higher
figure a year ago of S8I. 1861 Thus
the aforementioned drop of S19,210.35
In, net income is laid to two factors
decline in operating revenues and an
increase in operating expenses.
Eight Months Net Compared.
The Washington Gas Light Co. also
filed the financial statement for the
first eight months of 1880. Operating
revenues amounted to $3,6e3, 243. SO,
against s3,751 ,o61 10 in the corresponds
ing period Of last year.
Operating expenses in this period
took $2.4l1.sl4.11. in comparison with
S2,4S5.743.60. The gas company had a
total operating income of 81 .o56. 400. o5,
Ing eight months last year.
Total deductions from gross income
required $49l, 523.87, compared with
S4SS.S5428 in 1929. After all the usual
deductions, the company had a total
net income for the eight months of
SSSO.67l.94 against $6I9, SOC .s3 in 1929
or a decrease of SIS, $3.50.
July anc August are always the poor
est montns In the year for gas earnings.
que 70 the warm weather and the vaca-
Lon PERIODS. 1t is also safe to say that
September is unlikely to break anv
earnings record, either, considering the
temperature that has prevailed nearly
every day this month.
Georgetown Gas Report Filed.
The Georgetown Gas Co. has also
Public Utilities Commission. Operat-
ING revenues totaled 58,874s2, against
So6,2s5.2l year ago. Operating ex-
penses amounted to S48. 1856. go, in com
parison with $44,801 so last year.
Total revenue deductions claimed
30. 3S6 70, against $47, 955.80 In August.
1880, leaving net operating income
o. S6,AIo.l6, compared with $8,339.4l.
AFTER al the other usual deductions for
interest payments, ETC., net CORPORATE
income for the month totaled 81. 9i4. 90.
compared with the slightly higher fig
ure last year of $4,958s7.
Inc report for the year to date shows
operating revenues of S70n 2eg %
against $654, 320.l4. Operating reve-
nues claimed $5l6,345.39 compared with
S4s2 ,ssO.Os. leaving net corporate in
come, after all other deductions.
amounting to s122, $50 So while the
corresponding figure last year stood at
$40, 332.6l.
Bankers Condemn Bear Raider
Washington bankers are condemning
IN no uncertain terms the recent hear
raids in the New York stock market
ana the Chicago grain pit. Some of the
cityls most conservative financiers be-
heve that IL the governors of these two
powerful exchanges cannot check hear
raids that demoralize the markets, Com
gress VIII step In and enact some legfs
Lsuon mat win be far more drastic
than New York or Chicago want.
Why should group Of grain specu-
iatoFs oe permitted to sell short mil
hons OF bushels of wheat which they
co not own and break the price until
the farmer who raises the grain can't
make Hving?" one local banker asked
tooay or why should crowd of
rev York Stock Market traders be per-
Lnltted, through bear raids, to sell
something they do not own and break
gown the values Of stocks held by mil.
lions of honest, industrious investors?"
he added.
This banker believes that a heavy tag
LEVIED on short selling would help to
matt bear raiding Many local bankers
40 not favor stopping short selling en-
tlrely II kept under reasonable control.
In the cotton market prices are per-
United TO drop only so far in one day
while in the stock and grain market
there Is no limit to declines. The mat
ter Is expected to come up for discus
sion at the Cleveland convention of
the A. B. A.
Fishburn Elected Director.
Junius p. Fishburn of Roanoke Va
has been elected a director of the u. s,
Chamber of Commerce to succeed w. M.
Wiley OF Sharples, w. Va. who has
Deem made vice president for the South
eastern division. Mr. Fishburn will
represent district three, which includes
Maryland. the District of Columbia,
Virginia, West Virginia and North Car
olina.
The new director, who was proposed
by the Virginia State Chamber of Com
merce, Of which he is a past president
is president of the Times-W World Cor
poration, publisher of the Roanoke
Times and the Roanoke World-News
He Is q member of the Virginia State
Commission on Conservation and De-
velopment, a director of the Federal
Reserve Bank of Richmond, a director
of the Old Dominion Fire Insurance Co
and director Of the Virginia Bridge
g. Iron Co.
Trading Quiet on Exchange.
Ten shares of Security Savings g.
Commercial Bank stock sold at AIS on
the Washington Stock Exchange today,
IN q quiet session. Potomac Electric
Power 51z per cent preferred figured in
q 3O-share turnover at 10e34, while the
8 per cent preferred again sold at III.
Merchants Transfer a. Storage common
opened at 104 and closed at 103. Bond
trading was limited to the sale of 81 900
Potomac Electric Consolidated SIS at
4OATz dAA0 SbOO washington 0dS o.
series B, at 106. The unlisted stocks
were called of and very few changes
noted during the week.
Heard in Financial District
Miss Alice Whitton of the First Ma
Nional Bank Of Alexandria, Va, ad-
dressed the dinner meeting Of the
washington Bank Women's Club at the
Huguenot last night. She described her
recent trip abroad. Miss Mabel v.
Royce of the Washington Loan s. Trust