Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-25
GAS COMPANY NET
IN SHARP ADVANCE
March Earnings lore Than
DoubIed-RetaiI Sales
Gain Is Pulling.
BY EDWARD C. STONE.

ia 6OVN hASD ~ - 0ANA'
Net earnings Of the washington Gas
Light Co. showed sharp Jump In
= March, according to the monthly state
rnent filed with the Public Utilities
Commission.
Net income totaled $12s,7645l, in
comparison with $56,403.l5 in the same
month last year, an increase OF s72,-
3so.ss. In other words. the report shows
that profits were considerably more
than doubled.
Operating revenues were $603, 7l4.48
in March, 1880, against SAT-, l42.O4 IN
Z the corresponding period a year ago.
Operating expenses required $376 ,789.1o,
compared with 1927, 805.75 last year. :,
Total revenue deductions amounted
to S4l2,57832, as against $3.50, 0l8.78 In
the like month in 1880, these deductions
leaving an operating income OF $751;
1866. in comparison with l7l2226
last year.
The gas company reported a non
operatinp income Of $4,804.0 against
si,85344 in March, 1880. Deductions
from gross corporate income totaled
S67l7569 compared with $62, 572.55 IN
March. $780, leaving the above gain OF
more than $4,000 in net earnings.
Gas Report for Quarter Filed.
The company also filed the summary
for the first quarter, which shows oper-
ating revenues of $l.S15, 6307l, against
S1.545 .56687; operating expenses were
SI,lO0, SOS. 10, compared with S993,6lO,3S,
leaving an operating income OF $780,
O4S.o8, compared with S453, 1859.
Gross corporate income amounted TO
eels.51o.72. while this figure last year
After all dNnucs
tions the first quarter net was SAT-
OO7 AZ. while In the like three months IN
1880 it was $271, 1878, or an increase
this year of s145,8l015.
The higher net figure for the month
of March was due partly to the larger
operating revenues, q new method in
accounting ordered by the UTILITIES
Commission in handling the municipal
!. street lighting item, which aooed
gas furnaces. and increased funds from
auxiliary companies.
Georgetown Gas Earnings Lower.
According to the monthly report Of
the GEORGETOWN Gas Co., also filed with
the commission, net income in March
was $l3,059.6l, against $16,666.5o In
March. 1880.
GENERATING revenues were $I19,1l2.aS,
compared with $e8,43l.47, and operat-
ing expenses amounted to $90,942.03,
against $50, Te5.07 a year ago. The
months operating income was 49,.
255.65, compared with $2o,537.s4 last
year.
town Gas had an operating income OF
S373, 03e.0S, against $299, 45440, while
operating expenses totaled $3os,o63.SO,
against $2l0.2l4.33.
comparison with $224,957.45 year ago,
leaving an operating income OF $751;
1878, against $74,49695 last year.
Other subtractions left q total net In
come Of S42, 929.41, against the higher
figure Of $62,so1.15 in the first quarter
OF 1880.
Retail Sales Gain Pulling.
In discussing in detail retail trade in
the Fifth Federal Reserve District, the
Federal Reserve Bank OF Richmond
says that department store sales in 80
leading stores in the district in March
averaged SO per cent In dollar volume
above sales in March, 1880. but 1t Is
dificult TO determine how large part
of the increase was due TO the carrier
date Of Easter this year. All OF the
1880 seasonal buying for Easter oc-
CURED In April, but this year March
weather was good and Easter Tell so
early In April that q very large part
Of the seasonal buying was done In
March.
The good record OF last month did
much to make UP for the relatively
poor trade in January and February.
and total sales during the first quarter
OF 1881 averaged only $40 OF per
cent less than sales In the first quarter
of 1880, when prices were materially
higher in many lines than they are
at present, the Bank OF Richmond ex-
plains.
Stocks on the shelves OF the reporting
department stores rose an average OF
81 per cent during March, seasonal
increase Just before Easter. but on
March 81 average stocks at retail prices
were 14.6 per cent below stocks on hand
on March 81, 1890 Stocks we're turned
"a times in March this year, and dur
ing the first quarter of 1881 stocks were
turned .872 times, a higher figure than
IA times in the first three months OF
1880.
Collections in March, 1881, in "a of
the IS stores averaged 26.9 per cent
of receivables outstanding on March /,
q better record than that OF March,
1880, when 27.4 per cent of outstanding
receivables, as of March /, were col
lected during the month, the -eview
concludes.
leu Lie re-
tail sales, as already noted, with gain
of 1873 per cent Richmond and Bal
timore were up less than 4 per cent.
1t was the high average locally that
brought the average for the District
up to 6.3 per cent above March, 1890.
Test Case Being Studied.
Counsel for the Richmond, Fred
ericksburg and Potomac Railroad Co..
which was ordered Tuesday by the
-. Interstate Commerce Commission TO
pay $500, SO as one-half of its as
certained excess net railway operating
income, are stdying the company's posi-
ton. The commission allowed 100 days
for payment to be made.
As the r., F. g. P. recapture con-
. tToversy is regarded nationally as a
: test case for the railroads Of the coun-
:, try, much interest has been shown in
the order, and it is regarded as likely
to 60 TO the United States Supreme
Court as the St. Louis and O'Fallon
case did. This case has been under
consideration since 1925. when tenta-
tive reports of examiners were made.
: The amount Of recapture was then I'm
, excess of $1,000 900. Final hearings
:. were held last October, and the resul:
was scaling down of the sum. The
commission has since asked Congress
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