Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-11-26
Washington and Georgetown
Companies Both Report
Drop in Net Earnings.
LAST YEARS RATE CUT
GIVEN AS ONE REASON
Norfolk & Washington Steamboat
Co. Announces Return to Fares
Charged Before War.
BY EDWARD c. STONE.


A decrease in the earnings of the
Washington Gas Light Co. this year
monthly statement of the company,
filed with the Public Utilities Commits
sion yesterday. The report shows OPP
Grating revenues in october Of S4480j9
in comparison with S457,9l3 in Octo-
Der, 1882. decrease of s9.874.
Operating expenses including taxes
and uncollectible bills totaled S348, O36,
in comparison with s341, sol in october,
1882, leaving net operating revenues of
$780, 003 against Sll6,4l2 last year.
Incorporating income increased from
S3.726 to 1881 this year. producing a
gross corporate income in october of
Sl03,954, compared with S120,l38 in
the same month last year. After inter-
est deductions. the gas company re-
ported a net income for the month of
S33,8l7, compared with $51,270 in Oc-
tober 1882
The gas company also reported earn
1ngs for the 10 months of the current
year which, in comparison with last
years figures, show the effect of the
rate reductions which were made in
1892 The 10 months operating reve-
nues were S4,667,197. against S48l7,-
685 a year ago. Operating expenses,
taxes and uncollectible bills amounted
to S3,276,078, compared with S3,325 ,458
last year, leaving net operating reve-
nues of Sl,391,ll9 against Sl,492,227
In 1882.
incorporating income declined
Sll,343, resulting in a gross corporate
income of s1427 $685. compared with
Sl,540,417 last year. After interest de-
I,o iyonp toto1od cGSQ
843, against $848.952 for the same Pc
riod last year, decrease of S189l09.
Georgetown Gas Net Lower.
The monthly report of the George
town Gas Light Co. also was filed with
the Public Utilities Commission yester-
day. Operating revenues in October
amounted to Sl03,313, against Sl03,770
in october last year, showing de-
crease of S457. Operating expenses,
including taxes and uncollectible bills,
showing an increase. amounted to S97.-
432 in comparison with S96694 in Oc-
tober, 1882, leaving net operating rev.
enues of S588l. compared with S7,O76
for the previous year.
Incorporating income decreased from
S2,329 to S1,656 this year. producing
a gross corporate income in october,
1888, of S7,537. as against S9,405 in
the same month last year. After in
terest deductions, the gas company re-
ported net income for the month OF
S2,499, compared with S494l in Oc-
tober, 1882, a decrease of S2.442.
The Georgetown company also re-
ported earnings for the 10 months of
the present year, showing operating
revenues of S1,000,065, against 81 DOL
AIT year ago. Operating expenses.
taxes and uncollectible bills amounted
to S960,326, against S876,989 last year,
leaving net operating revenues Of $780,
739. compared with S124,428 in 1882
Incorporating income amounted to
Sl6,802, an increase Of 1888, resulting
in gross corporate income of S56-
Sal in comparison with S140.342 for last
year After deducting interest charges.
the net income totaled S8,823, against
S95,156 for the same period last year,
a decrease of $86,333.
Prices Cut on N & w. Steamers.
Beginning December l. when its new
Winter rates become effective. the Nor
folk g. Washington Steamship Line
announces the lowest rates in l6 years
between the Capital City, Old Point
Comfort and Norfolk, Va.
Revised rates not only include sub
stantial reductions for one-way and
round-trips during the week days, but
also an extra special round-trip fare
effective from either terminal Satur-
days and returning Sundays. The new
rates mean a return to pre-War charges
Stateroom prices and the dining room
service will also be substantially re-
duced, j. A. RiordOn, general manager
OF the company announced yesterday.
He added that regardless of the rate
reductions. the steamboat company
would continue to carry automobiles
free on all steamers when accompanied
by one or more passengers.
officials of the company hope that
the experimental Winter rates will prove
such success that they may be con-
tinued Indefinitely, The Norfolk &
Washington line is one of the best
known companies on the Eastern Sea-
board and has been doing business for a
ment is one of the most interesting
and important made in long time.
Other Financial District News.
Chairman Walter j. Cummings of the
Federal Deposit Insurance Corpora
ton has prohibited banks from adver-
Using their respective membership in
the organization until an official an
nouncement is made by the corpora
bank taking advantage of another The
new deposit insurance goes into effect
on January 1.
1t is announced that the annual
meeting of the stockholders of the
Home Plate Glass Insurance Co.. for
the election of trustees, will take place
on Wednesday, January IT. This is one
of the Oldest companies of the kind in
the city.
The first Civil Works Administra-
ton checks started circulating through
the banks here Yesterday. the first
Government pay day for these work
ers. In various parts of the country
more than 100000 such checks were
distributed yesterday.
The North American Co. has de-
clared the regular quarterly dividend
of 2 per cent in common stock on the
common and rs cents on the pre-
ferred, both payable January to
stock of record December 5.
Standard Brands, Inc. has declareo
the regular quarterly dividend OF 70
cents on common and SITS on pre-
ferred both disbursements being pay
able January to stock OF record De-
cember f.