Evening star., 1932-06-29
WASHINGTON GAS
NET EARNINGS GAIN
Increase of $92, ,403 Reported
for First Five Months
of Year.
BY EDWARD C. STONE.

uleQ WIFI
sion, covering May and the year TO date.
Operating revenues for the first five
months of the present year totaled
S2,823, ,4699o against $2.S44. .599,2S o
year ago; expenses, taxes. etc, called
for Sits. .559.5l, compared with the
higher figure last year Of 81 1855 6S3. rs,
leaving a total income from operations
of S1,047,910.38, in comparison with
S978, ,9l5.52 in the same period in 1881.
Gross corporate income reached the
sum of 1,078, ,a82.29 against $780,
95092 The amount required for bond
interest each year was the same, S302,
7302, leaving a net income, after all
deductions, amounting to S726,966.37 in
comparison with S634,563.07 a year ago,
or the e-mentioned increase of over
S92 000
Earnings for the month of May also
indicate that the gas company has very
successfully ignored the depression, or
better still. COPIED with it in most Wig
orous manner Operating revenues in
May amounted to $522, ,638.31 against
S5l0,90l.88 a year ago. Operating ex-
penses and other deductions called for
S349, ,33401, compared with S342, ,235 "a
in May, 1881 leaving an operating in
come of S173,304.30, against S168,-
66623
After all other deductions, the Wash
ington Gas Light Co. had net income
of Sl01 ,625.75 against the slightly high
er figure in May year ago OF $780,
13801.
Pope Names Committee Chairmen.
President C. H. Pope of the District
of Columbia Bankers Association, today
announced the chairInen of the asso-
cations standing committees for the
coming year, as follows:
Advertising. Eliot H. Thompson, pub
licity manager Washington Loan &
Trust Co.: audit, Robert H. Lacey,
cashier Columbia National Bank; bud
get. George 0. Vass, vice president and
cashier Riggs National Bank; credit
bureau, Frederick P. H. SiddonS, sec
retary American Security g. Trust Co.;
insurance, Frederick H. Cox, cashier
Commercial National Bank; law and
legislation, Francis G. Addison, Jr,
president Security Savings q Com
mercial Bank; public relations, w. w.
Spaid, partner in w. B. Hibbs q Co;
protective, C. F. Jacobsen, cashier Ma
Iional Metropolitan Bank; standard
lied banking FORMS Nelson B. O'Neal,
assistant vice president Riggs Ma
tional Bank: taxation, Henry H. NC
Kee. president National Capital Bank;
Treasury relations, Hilleary G. Hoskln-
son, vice president Riggs National
Bank.
The list of names shows that Mr..
Pope has taken great care In selectlne
bankers particularly well fitted to nead
the various committees during the COM
ing, year. The problems facing the
banking business last year required the
attention of the most experienced
bankers. No doubt the presens year
will demand this same astuteness.
Several of the chairmen OF last years
committees have accepted appointment
for another year. Mr. Thomson has
been head of the Advertising Com
mittee for years. Mr.. Addison has
served the Legislative Committee for
about the same length Of time ana
Mr.. Mckee has done an unusual
amount of committee work. One new
committee has been added, Commit
tee on Public Relations, in charge OF
w. w. Spaid.
Latest Trade Reports Spotty.
Latest reports from the ~ Federal
Reserve Districts indicate spotty con-
ditions. Cleveland reports pickup
in the steel business, st. Louis reports
a holding up in the dollar volume OF
trade, while the Kansas City area an
nounces better farm outlook.
convention visitors, but recent bank
failures have had their depressing ef-
feet San Francisco is experiencing
better shipping conditions and also
notes a gain in automobile sales. Tex
tile mills in the Philadelphia area are
more active although the market for
building materials still drags.
New England reports building con-
tracts up to the average, slight in
crease in retail sales and a better de-
mand for leather and shoes. Growers
are selling their wheat in Dallas, Tex,
and conditions are said to be better in
that region in spite of low prices.
General trade conditions in Atlanta
are displaying slight improvement, al
though pre-wsr prices are now pre-
vailing in many lines. The relief prob
lem is still acute. but unemployment
shows little brighter tone. Auto sales
are better. The first Georgia peaches
are now on the market.
Georgetown Gas Earnings Up.
Earnings of the Georgetown Gas Co.
IN May showed small increase over
May, 1881, according to the report filed
with the PUBLIC Utilities Commission.
The company reported operating rev.
enues of $l0l ,498.28, against $102, ,590.58
After the deduction of operating costs,
the operating income item stood at
S14,979.33, against S147l726 year ago.
Other deductions left total net in
come for the month of S1l ,901.S5, COM
pared with sll .56 year ago.
For the first five months of 1882 the
Georgetown company reported operat-
ing revenues amounting to $599, ,34l.17,
this item last year standing at $685.
147.7l. Following deductions for oper-
ating expenses bond interest and other
payments, the company had a net in
come of S8l ,495 S6 against the lower
figure OF S67 ,2932l III the first five
months Of 1881, or a gain so far this
year Of si4,202.65.
Itinerant Bank Service Started.
A travelling banker" TO minister to
the needs of communities deprived. of
banking facilities through closures has
been inaugurated by the Ionia National
Bank. in Michigan.
On Tuesdays and Fridays the bank" "
an ormored car with machine guns as
protection, will spend one hour each
IN the smaller towns of Belding, Or
leans. Muir, Lyons and Clarksville.
All the usual banking business from
deposits end cashing Of checks TO max
ing loans will be conducted. Where
possible. the building and equipment
of closed local banks will be used.
Cleaned in Financial District.
Trading on the Washington Stock
Exchange today was confined almost
wholly to the bond issues of the Wash
ington Gas Light Co., at recent levels.
The only stock sale was in Washington
Railway 81 Electric preferred, which
sold at TIA.
Notices in local broker Offices an
z,
change and the Curb Exchange will be
closed Saturday as well as Monday.
The Washington Exchange is closed
every Saturday during the Summer, re-
gardless Of any holidays such as July 4.
The Advertising Club of Washington
will give testimonial luncheon to
William F. Ham, president Of the Wash