Evening star., 1934-03-02
MR.. &E. DECLARES.
SPECIAL DIVIDEND.
Disbursement of $40 a
Share on Common Payable
on March 10.
BY EDWARD C. STONE.

way g. Electric Co. have declared q
special dividend of $40 per share on
the corporations common stock. 1t
was announced in the financial dis
trict today.
The $40 disbursement Is payable on
March 10 to stockholders of record on
March 2, today The very interesting
notice was posted on the bulletin
board of the Washington Stock Ex-
change just before the opening of the
regular trading session. Naturally, 1t
caused much comment.
The dividend is to be taken out OF
the corporations surplus as of jan
uary /, 1884. 1t Is not the first time
dividend of this kind has been voted,
similar action being taken by the di-
Tectors several years ago.
Washington Railway & Electric
common stock pays regular annual
dividend of 7 per cent, the usual quar-
terly payment Of SITS per share just
having been made. The last sale in
this issue on the Washington Ex-
change was made at 26s. 1t is by far
the highest priced utility stock on the
local board.
The company's preferred stock is
also listed on the Exchange, paying
regular annual dividend of per cent.
Gas Net Jumps $49,3O3.
The monthly report of the Wash
3ngton Gas Light Co., filed with the
Public Utilities Commission. shows
operating revenues in January of
$6l6,852, compared with $3.50, 1858 In
January, 1888, an increase Of $56, $50.
This increase begins to reflect the
Winters abnormally cold weather.
Operating expenses including taxes
and uncollectible bills also showed an
increase, totaling $589, ,029 in COMPARE
son with $365,43 in January, 1893.
This leaves net operating revenues of
$227,823, against $194,831 last year,
an increase of $32,992.
incorporating income increased
$5e91, producing a gross corporate
income in January of S229,7O6 as
against $190,723 in the same month
OF 1888. After interest deductions, the
Gas Co. reported net income for the
month OF Sl59,3l5 compared with
$ll0,012 in January, 1889, an increase
of s49,3 1903.
Georgetown Net Lower.
The monthly report of the George
town Gas Light Co., also filed with
the Public Utilities Commission to-
day, shows that after interest deduc-
tions the net income for the month
was $2,407, as compared with $6,419 in
January, 1893, a decrease of S4,0l2.
The operating revenues in January
amounted to S144,858, as against
$125,129 in January, 1888, an increase
of $19,729.
Operating expenses, including taxes
and uncollectable bills, showed an in
crease that amounted to S138,983, in
comparison with S116,717 in January,
1888, leaving net operating revenues
OF $5,875, compared with S8,412 last
year. This is decrease of net oper-
ating revenues of $2,537
Incorporating income increased
from $2,357 to $1,725, producing a
gross corporate income in January of
$1,000, as against s10,769 in the same
month of 1888.
G. NJ P. Murphy in Capital.
Grayson M. P. Murphy, head of the
New York Stock Exchange firm by
that name, was a visitor in the finan-
cial district today, calling at the COM
pany's office on H street, as well as
elsewhere. Col. Murphy, as he is
known, is here in connection with the
Fletcher-Rayburn bill to regulate
stock exchanges. Like all the other
New York stock brokers of note, he
opposes the bill in its present form
very strongly and is working hard
against the most Objectionable fea-
lures.
1t looks now as if the hearings
would be concluded next week. Re-
writing of the proposed measure is
expected to be started soon. Brokers
and bankers here are anxious to see
what final form the bill will take.
Important notifications are held Ger
tain.
While it is known that President
Roosevelt has read the control bill.
1t Is said that he will make no COM
ment on it until after the congress
sional hearings have been completed.
Today's Exchange Trading.