Evening star., 1932-05-23
WASHINGTON GAS
EARNINGS IMPROVE
Company's Net for April Was
+! $751; Ahead of Last
Years Figures.
BY EDWARD C. STONE.

Ia ~. ~ oNLs
Net earnings of the Washington Gas
Light Co. in April show that the de-
preston was wholly ignored. profits
being S56,156l5 ahead of April, 1881.
according to the monthly statement
filed today with the Public Utilities
Commission. For the first four months
of the present year the company is also
almost 100000 ahead of 1881 in total
net earnings.
Operating revenues in April totaled
$685. 9,83517 against the lower figure of
$526, 6,049.73 last year. Operating ex-
penses and taxes called for S345, ,009.76,
compared with S348,58606 in the like
month a year ago, leaving total op-
Grating income of S224,825.48, in COM
parison with Sl77,463.67 in the CORE
spending 1881 month.
Incorporating income in April of this
year amounted to Sl5,796,75 against
only S377l17 last year. Gross totaled
S240. .62223. compared with Sl8l ,234.84.
After all deductions for bond interest,
ETC., net income totaled Sl70,291.2l
against S1l4,135.06 in April, 1881, leav
ing the above e-mentioned gain in net
earnings Of over S56,0OO.
Four Months Profits Higher.
The report for the first four months
Utilities Commission today, reveals a
very substantial demand for gas The
financial statement shows that operat-
ing revenues totaled $1,000, ,83l SO,
against So, 1888, ,697. 40 in the same period
last year.
Operating expenses required Sl,27l.-
e25l2, in comparison with 81 $3.50, ,7O4.4l
a year ago, leaving an operating in
come, after taxes and uncollectlbles, OF
1914 60609 compared with S8lO,249.29
in the like period in 1881.
incorporating income showed sub
stantial gains over the first four months
of 1881, being s32,00S.34, against fall
ing off last year IN that item of Sl3.--
23371. Gross income at the end of
April this year totaled 06,61443. in
comparison with S796,9l5.58 a year
ago. Total deductions from gross took
away s28l, ,473.S1, compared with $685.
490.52.
These deductions left total net in
come for the four months amounting
to s625, ,14O.62, in comparison with S528,-
425.o6 in the corresponding period IN
1880. a gain in profits so far In 1882 OF
S96, 1856.
Traction Appears on Exchange.
Capital Traction appeared during the
trading on the Washington Stock EX-
change today for the first time in many
sessions. The trading in the issue were
very light, 10 shares selling at 1924 and
IA more changing hands, after call, at
1872 The stock closed with 12l2 bid
and l3l. asked the offered price having
been lowered in the past few days. Fa-
vorable action in Congress on the street
railway merger proposal caused tenn
porary advance in the asked price up
to IT.
The weeks market opened with $500
Washington Gas 6s, series A. selling at
98. The next bond transactions were
two $1,000 sales in Washington Rail-
way g. Electric As at 1884 Washington
Gas SIS figured in a 81 900 sale at 101.
Five local stocks are now being quoted
ex dividend, the Potomac Power issues,
Washington Railway & Electric COM
mon and preferred and Lanston Mono
type.
C. & o. Net Income Lower.
Net income of the Chesapeake & Ohio
Railway Co. in April, after all charges,
was 81 Ala 40385, decrease of S86,-
15809 under the corresponding month
of last year. For the four-month period
net income was s6164, ,749.77, a decrease
of 1882 2,32721 under the corresponding
period of 1881.
Railway operating revenues for April
were 81 ,499 906.77, a decrease of S1.822,-
949.8 SO, and fer the four-month period,
S31,6l0,07290, a decrease of S6,511,-
224.48.
Net railway operating income for
April. 1882. was s2199 956 &c. decrease
of S11,31935, and for the four month
period. s9,266, ,771.89, an increase Of
S188,06o34
Operating ratio for April. 1882. was
$50 per cent compared with 66.6 per
cent in April, 1881. For the four
months of 1882 operating ratio was
COS per cent. compared with CTS per
cent in 1881.
Retail Sales Reveal Advances.
Latest reports from the Federal Re-
serve Bank Of Richmond indicate that
retail sales have shown some improve
ment in the fifth Federal Reserve dis
trict during the past few days. Whole
sale trade was not so good last week.
Reports from other Federal Reserve
districts indicate a spotty condition in
retail trade. Atlanta reports slight
recession although the volume com7
pares favorably with the like period
year ago. Wholesale business has i'm
proved.
Building activity around Atlanta has
improved ana CIere Is less ullcInplOy-
ment, Banking conditions are better,
several small banks having reopened
in the past few days. Consumption of
cotton is still increasing.
Other reserve districts report great
interest in the Governments latest move
to force more credit into business
channels. Adjournment of Congress is
also awaited with much concern.
Bank Failures at Ten-Year Low.
Not only were bank closings for April
at lower rate than during any whole
year since the war, according to the
Alexander Hamilton Institute, but the
number Of re-openings actually exceeded
the clcsings. Only six banks closed
during the month, whereas in 1881 the
average was over $50 month.
In March, while the number of sus-
pensions exceeded the number of re-
sumptions, deposits in the banks which
reopened were nearly equivalent to the
deposits locked up through suspensions.
Says the Institutes current bulletin:
If the Reconstruction Finance Cor
poration should accomplish nothing else,
its contribution to halting the trend OF
suspensions would BE- ample justification
for its existence. The ground is being
prepared for solid improvement in the
future"
pOTAT0 MARKET