Evening star., 1933-02-07
GAS REVENUESOFF
IN. AS SALES MOUNT
49,
Company Report Shows los
Per Cent Drop in Income
for 1892.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Further reference to the annual re-
Pert Of the Washington Gas Light Co.,
made at yesterdays annual meeting of
stockholders, shows that sales of gas
increased 6.8 per cent during 1882, but
revenues decreased LOS per cent be-
/. cause OF rate reductions during the
year. Operating expenses were higher,
President Sperry says, due principally
:. to the cost of valuation Of the gas
properties, to certain homecoming gen.
eral expenses, ani the need for greater
provision for uncollestible accounts
- Net increase in the fixed capital ac-
counts was S695,500, mains, services,
and the purchase and installation of
. meters accounting for half of this
amount. Other expenditures were in
r connection with the use of natural gas
in addition to the gas manufactured
here, the report states.
D" Cssh requirements to cover the cost
of plant additions were met in Fart
from undistributed earnings and partly
/ by bank leans, amounting to $800,G00,
President Sperry says. To meet ST.
OUU,UOU III JULIUS ILLS N6dI,
the company refnanced these obliga-
ticns with new $8,500000 per cent
bend issue which has already been sold.
As a result, with the exception Of ST.
500 o00 Of bonds due in 1885, the cCn-
pany has no funded debt due prior to
1888.
The report refers to the present
valuations of the properties in Wash
tngtUn and Maryland, to the reorgan-
,f f1an nr-I IF <1iv-n1 LrpC oct
May, and the election Of a new presi-
dent.
The stockholders reelected these di-
rectorS; Cary T. Grayson, Wilton j.
Lambert, Christopher H. Pope, Marcy
i. Sperry, Sidney F. Taliaferro, Cor
coran Thorn and Robert D. Weaver.
Late Easter Retards Trade.
Reports from the 12 Federal Reserve
districts state that the late Easter this
year is somewhat delaying wholesale
trade. However, some of the areas re-
port bright spots in retail trade during
the past few days.
Philadelphia reports an increase in
shoe orders, also in textile orders. Wool
consumption has improved in New Eng
land, while auto sales have picked up
in Chicago, judging By registrations.
Cleveland says automobile buying of
steel is better than last year. St. Louis
fn5s trade Gull bdt an improved crop
outlook in nearby territory. Mime
apohs noted a drop in both wholesale
and retail trade. More seasonable
weather has helped Kansas City.
Atlanta pictures department store
traoe as better. Wholesale orders have
improved and auto sales are encourag-
ing Construction activity in most dis
tricts is slow.
Outside of Washington this condition
prevails in the Richmond district. But
in nearly all the districts the opinion
is expressed that building will improve
with the coming CT Spring as it always
does. The present is an "in-between
period"
l.as - Peoples Drug January Sales.
Peoples Drug Stores, Inc, and sub
sidiary companies today reported total
sales for January, 1888, as S1,310.612.73,
in comparison with 81, $50 ,6224 43 in jan
uary, 1882, a decrease of $70,009.70, or
5.0T per cent. This is a bstter showing
than that Of many other big chain
store systems in the country which are
now reporting their. January figures.
All managers Of the Mutual Fire In 1
surance Co. Of the District of Columbia
were reelected at the seventy-eighth
annual meeting Of stockholders yester-
day. They are Charles Kattelmann L.
Pierce Boteler, E. c. Brandenburg,
Frank A. johnson. Arthur Carr, Henry
E. Bittingsr and Charles M. Boteler.
"a The annual report presented by Sec
retary L. Pierce Boteler revealed opera
tions of the company in 1892 as. quite
successful. There were no fire losses
and q substantial sum was added to
surplus.
Trust Has Satisfactory Year.
A. S. Goulden & Co., Woodward
4Bulding, received the annual report
to-day of Massachusetts, Investment
Trust, which showed that peak records
spete reported at the close of 1882 in
wboth shares outstanding and the num-
$50, 600 and stockholders over 10000
= AS Of December 81, 1892, securities
iat market value and cash totaled $13,-
s538, ,446 Net income for the year was
$4,000. Four quarterly cash payments
were, paid during 1892, equivalent to SO
scents per share.
=, The report states that many changes
were made during the year in the trust
&pOrtfolio The number of different
issues owned was reduced from 1913 to
~17, to improve the quality of the in
.yestments, thereby helping to maintain
the principal and income of the trust
and permitting closer study of the
securities owned"
Heard in Financial District.
John r. Waller, president of the
International Bank, Jackson place,
made his annual report at the annual
stockholders meeting held late yester-
day. He stated that conditions in 1882
were much the same as in 1881, but ex-
pressed the belief that the present year
will see q real turn for the better.
- The Washington Stock Exchange
made record today, but not in VOL
unle of business. 1t was one of the
shortest sessions ever held Three sales
totaling % shares of Washington Rail-
way & Electric preferred, made at 871A,
completed the days business.
Robert L. Sisson, vice president and
treasurer of the Washington Savings
Bank, is back at his desk after a trip
to Florida
Because of a cut of 81 100000 in op-
Grating expenses, including 100000 in
maintenance, the Southern Railway re-
ported an increase of S1.000,000 in net
operating income for December.
Treasury Issue Oversubscribed.
Applications totaling 1924 79O,O 900 for
approximately $75,O00,000 Of 9l-day
Treasury bills, maturing May TO- are
announced by Secretary Mills. total
of SIS, 900 was accepted. with the
average price to be 1886 at an aver
age rate on a bank discount basis of
about .18 per cent. The highest bid
was 99975, equivalent to an annual
interest rate of about 10 per cent, and
the lowest accepted was 99950.