Evening star., 1932-03-25

Gross income In ~
$200,155.66, against Alh.rt $. Ga,Iey.
Sl8O,243.44 in the '' '' s'
like month year ago. Deductions from
gross to cover bond interest and other
charges required S70,169.51. compared
with S67, 1915, leaving a total net in
come for the month of 9,98615,
against net year age of S1l3,054-29,
The Washington Gas Light Co also
filed returns for the first two months
OF the year, operating revenues being
S1.122, 1895, against $1,222, ,929 80 last
year. Operating expenses took S632,-
51283, compared with s7l6,810 ga in the
first two months of 1881 This left an
operating income of S417,920.02, COM
pared with s432,78181.
Deductions from gross called for
$l40, 1868 against $134, ,327.55 last year,
leaving a net income for the two
months of $282, 1920 against $685.
529.2s, very substantial profits, although
$2,o47.09 under last year on the same
date.
Galley Holds Remarkable Record.
This was another big day in the
career of Albert S. Galley, executive
vice president of the Lincoln National
Bank. 1t stared out with hearty con-
gratulations from President Floyd E.
Davis and other officers of the bank
and many of the older directors.
And why? Because Mr.. Galley has
been with the Lincoln National Just
~ years today In other words, ever
since the bank was founded, back in
1890. He remembers the first depositor.
the opening days receipts, the leading
bankers of four decades ago and an
endless number of other interesting and
important financial facts of those far
of days.
As Seventh street fnancier,"
some of his closest friends in that
locality include such bankers as George
L. Starkey, president of the National
Bank of Washington; John NJ Rierden,
vice president of the Bank of Com
merce d Savings. and Victor B. Deyber
president of the Second National Bank
But his banking friends are by no
means confined to that section of the
city. He visits the banks Seventeenth
and street branch daily and also is
one of the most regular attendants at
the weekly luncheoRs Of the District
Bankers Association at the Willard.
For more than 90 years he has been
treasurer of the Bankers Association
and has taken keen interest in all as
sociation affairs. Furthermore, his
annual reports always show a balance.
No easy task, his friends say. Right
there may be the reason for his %
or "a reflections. Too much red ink
Is being used these days, but Bert"
Galley never permits any to clutter up
his desk. He prefers light blue.
Railway Earnings Improve.
The February earnings statement of
the Washington Railway & Electric
Co., filed with the Public Utilities.
Co, filed with the Public Utilities Com
mission, shows larger net income than
In February year ago, although the
gain Is mainly in incorporating income
and the cutting of operating expenses.
Operating revenues amounted to
$34l, ,26o,26, against s382,5ss.O7 in the
like period last year, Operating ex-
penses and taxes called for 1921. $50. ST.
compared with $317,oel .e6 in February.
1881, leaving an operating income of
$49,57s.es, while this item year ago
stood at s65 5,5261l,
incorporating income totaled Sab
427.54, against $4l1.s56.58 in February
OF last year, leaving gross earnings of
S493, to be compared with S477,-
382.6e. Other deductions called for
S53,65S.95, against $56,648.77 a year
ago, making net income for the month
$439, ,S5o.2s, compared with s420, 1888 90
in February, 1881, gain of S18,616.3 Sc.
For the first two months of the pres
ent year net income amounted to S459,-
SCOTS, against $46S, ,44354 in the like
period year ago, which is a falling
of in profits of Ss,S02.81. These net
earnings should be particularly salts
factory to the management, when the
present taxicab situation is taken into
account.
Operating revenues totaled $699, ,142. SO,
against t806, 6,030.88 operating expenses
pared with 1853 1922 in 1881, leaving
an income from operations Of S99, ,802 10
against Sl46, 1886. Incorporating in
come for the two months amounted to
$467 7,20e,97 in comparison with $434,-
oS973 in 1881.
Power Profits Slightly Lower.
Net earnings of the Potomac Electric
Power Co. were slightly lower in Febru-
ary than in February, 1881, the report
just filed with the Public Utilities Com
were larger, but operating expenses were
also heavier
Total operating revenues amounted
TO seas, 5000, against $897 ,0561o, q
gain of s28,3099 co. Operating revenue
deductions called for $469, ,0l5 95, COM
pared with $48,93629, an increase of
S20,07s.66
net operating revenues amounted 10
$456,350.l4, against $448, 1890, q gain
of S8,23024 After all other deductions
were made, the power company had q
net income of 1892 100 90. against $4O4,-
431.8 falling off of $l2,322,1e.
Potomac Power reported for the first
two months operating revenues OF
81 l,996, ,00782, against 81 ,861, ,50672. an
increase OF $l34 ,501I0. Revenue deduc-
tons required $792, ,20377, compared
with $e4454805, an increase of over
$4,000. Net revenues from operations
stood at 81 ,023, ,80405, the same item
last year being $9l659867, gain to
date In 1882 of $1o6s4538
Miscellaneous income was lower BY
about $27 900 this year, but gross earn
ings were up S78889 So Deductions
from gross were $ll,64389 more than
a year ago, leaving two-month net
income OF 1894 1886, compared with
1927, ,08e,76, an increase Of S67, ,045 80.
According to these figures, the demand
for power and light In Washington is
growing indicating a better situation
than prevailed year ago.
Financial District Notes.
p P. H. Siddons, secretary Of the
American Security a. Trust IN has