Evening star., 1933-04-28

operating INCOME
of Sl96.850 against
1921 ,861 last year.
Non operating w. B. Hibbs.
income decreased
from S7677 to a deficit of 1894 this
year. leaving gross corporate income
in March of Sl93,537, compared with
$239. .538 in the same month last year.
After interest deductions, the gas COM
pany reported total net income for the
month, before dividends. of Sl03.364.
compared with Sl72.167 in March, 1882,
a decrease of S68,803
The gas company also reported earn
ings for the three months of the present
year. showing operating revenues OF
ST 500 OLA against Sl,730,996 year ago.
Operating expenses, taxes and uncol-
lectable bills amounted to sl.oSo.852,
compared with S1,081,216 last year,
leaving an operating income of s6l8,162
against S649.78 in 1882.
Incorporating income declined $18,
298, a deficit of S1l,788 being reported
in this account, resulting in a gross
corporate income of S606.373. compared
with S656, ,290 for last year. After inter-
est deductions, the net income totaled
$328,59S against S454,84 for the same
period last year, or a decrease Of
Sl26,251.
Georgetown Gas Net Also on.
Operating revenues of the George
town Gas Light Co. amounted to S123,-
932 against S135,066 in March last
year, a decrease of 11,134, according
to the monthly statement filed with
the Public Utilities Commission today.
Operating expenses including taxes and
uncollectible bills totaled S118,424, in
comparison with $115,115 in March,
1882. leaving a net operating income
of $500 against S19,951 for the pre-
vious year.
Incorporating income decreased
from $3.50 to Sl.545 this year, leav-
ing gross corporate income in March
of S7053, compared with S2l,5 in
the same month last year. After inter-
est deductions the gas company re-
ported a net income for the month
of S2,64S against $16,989 in March,
1882. a decrease of S14,341.
The gas company also reported earn
ings for the three months of the pres
ent year showing operating revenues OF
s3S44so against s382,76 year ago ago.
Operating expenses. taxes and uncol-
lectible bills amounted to $362,O9O
against $320395 last year, leaving an
operating income of $22 400, compared
with S62,371 in 1882.
Incorporating income amounted to
$5,437, an increase of S6l4, resulting
in a gross corporate income of S27, ,837,
in comparison with S67,195 for last
year After deducting interest charges
the net income totaled STAT against
s53,584 for the same period last year,
or a decrease of S38,842.
w. b. Hibbs Home From Coast.
w. B. Hibbs, senior partner Of w: B.
Hibbs g. Co., New York Stock EX-
change firm. reached home this morn
ing after several months passed IN
California. The West Coast appears to
have agreed with him and he looks to
be the picture of health. He was very
cordially greeted in the financial dis
trict today. Mr.. Hibbs ranks as the
dean of Washington brokers'" having
been in the business longer than any
of his associates in the city.
ton Chapter, American Institute OF
Banking, were nominated last evening
for officers for the ensuing year, the
election to take place on May IL:
For president, Robert H. Lacey, Co
lumbia National Bank; for vice presl-
dent. Walter L. Sanderson, Federal
American National Bank & Trust Co.;
for second vice president. j. Earle NC
Geary, w. B. Hibbs & Co.; for secre-
tary. Anne C. Crawford, McLachlen
Banking Corporation, and Gertruoe Y.
Wick, Liberty National Bank; for treas
urer. Paul ]. Seltzer, American security
g. Turst Co.; for assistant secretary,
Katherine M. McCalmont, w. B. Hlbbs
& Co. and Vivian E. Stokes, Federal
American National Bank & Trust Co.;
for chief counsel. William H. Laughlln,
Washington Loan g. Trust Co, ana
RAYMOND L. Weber, National Savings
& Trust Co.; for board of governors,
Kenneth F. Brooks, Riggs Natlonal
Bank. James C. Dulin, jr., American
Security g. Trust Co.; G. Elmer Flather,
Union Trust Co., and T. Hunton Leltn,
Security Savings & Commercial Bank;
Thirty-five delegates to the annual
convention of the American Institute
of Banking to be held in chicago LII
June were also named last nlght.
Todays d. C. Exchange Trading.
Trading on the Washington Stock
Exchange today included two $1,000
transactions in Washington Railway o.
Electric As at 8534. Potomac Electric
Power 5ia per cent preferred stock
opened the market with small LOT
selling at 1862 Later two small sales
in the same issue were recorded at
1861. Mergenthaler Linotype again
appeared on the board, moving at "a a,
the price at which several other sales
were made during the week.
Washington Gas Light stock is now
being quoted ex dividend, following the
recent declaration of the usual quarterly
payment due at this time. The bonds
in the unlisted department were checked
up today. The bid on Washington
Suburban SIPS was raised to 54 and
the asked price point to Sc. The bid
on Metropolitan Club 4l2s was moved
up to 80.
S60,000,000 Treasury Offering.
Tenders for s6O,0OO,o0O in 91-day
Treasury bills dated May were m
vited yesterday by the Treasury Depart
ment, They will be sold on discount
basis. At the same time, Secretary
Woodin announced subscription books
for the $500 900 900 offering of two-ye;ir,
27s per cent notes. for amounts OF $lO,-
600 or less, were closed yesterday.
Standard Brands, Inc, and subsidl-
ary companies, report for the first three
months Of the current year net income
applicable to the parent company, after
all charges, including Federal and for
eign income taxes, of $780, 059, equiva-
lent to % sc cents share on 12,645. )66
shares of common stock outstanding.
This compares with net income of S3,-
998, ,967, or 30.45 cents a share on r.
644,7l3 shares of common outstanding
at the end of the first quarter OF last