Evening star., 1934-10-01
WASHINGTON GAS
REVENUESDECL|NE
August Operating Net Totals
$2o,452, Compared With
$51,703 Year Ago.
BY EDWARD c. STONE.

Public Utilities Commission this morn
ing, shows net operating revenue for
the month OF August Of S29,452, COM
pared with $5l703 for the same
month last year. a decrease of S22,25l.
Operating revenues for August,
S344, ,905, compare with S345,89 for
August year ago, a decrease OF 1894.
Operating expenses, including taxes
and uncollectible bills, increased S2l.-
257 this years figure being s3l5,453,
as against S294l96 in August. 1888.
Incorporating revenue for August
this year showing decrease of Sl2,-
18l, last years figure being $8,92l. as
compared with a loss this year of
$3260, resulted in a gross corporate
income of S26,l92 for August, 1884,
as compared with S6O.624 for August,
1888, a decrease of S34,432.
Interest deductions of S70,979 for
August this year being 81 484 more
than last years figure of S69.495, re-
suited in a net loss Of SS44,787 this
year, which is $35,9l6 greater than the
net loss of s8.871 in August, 1888.
While the report for August makes
an unsatisfactory showing, net earn
ings for the first eight months of the
present year are more favorable. Net
revnueS from operations amounted to
S1,261 .286 38. against Sl.2l9,365l0 In
the like period in 1888. After all de-
ductions, total net profits were re-
ported as S770,47673 in comparison
with s6ls,538.2O in the first eight
months of last year, or a gain of
$151, ,95853 in 1884
Georgetown Net Lower.
The monthly report of the George
town Gaslight Co., also filed with the
Public Utilities Commission this morn
ing, shows a net loss of S6907 for
the month of August, which is 81 ,06l
greater than the net loss of S5,846
in August, 1888
Operating revenues increased $1,000,
to figure of s67.752, for this year
as compared with S65,852 for August
last year. Operating expenses were
S70.247, as against S68,342 in the
same month last year. an increase
of S1.905. producing a net loss from
operations of S2495 this year, COM
pared with 81, 2,49o in the previous
year.
In August, 1898, there was nom
operating revenues of 81 SIT, whereas
there was none this year. Interest
charges were S4,4l2 this year against
S5033 in 1888.
For the first eight months Of 1884,
net earnings showed a loss of Sl4,-
0o918 against a net profit last year
of S6,785.03.
Banks Hunting for Loans.
Banking. the journal of the Amerl-
can Bankers Association. in its Octo-
Der issue says of business conditions:
With idle funds in the banks at
the volume they now are, it may be
taken as a matter of course that the
chief occupation of banks and bankers
in these Autumn days is hunt for
profitable Observation-Disclosures any safe
investment, in fact The anticipated
Fall up-turn in business. with an in
creased demand for funds for indus
trial and commercial purposes, has
been delayed, but some definite i'm
provement, at least, seems in sight.
"A steady two months increase,
week by week, in all other loans OF
reporting member banks speaks rather
eloquently although candor cOmpels
one to point out that the increase up
to the time this is written fails to
carry the total to the level of the
same date last year. The important
point is that the tide has turned.
Commercial paper outstanding also
shows the highest volume since NO
vember, 1881, having reached a total
of sl51 900 900 in June, or more than
twice the volume outstanding year
previous. 1t is significant, also, that
the distribution of the increase IN
commercial loans is Nationwide and
seems to be due to no special stirnu-
liant.
There is general agreement that
there is no ground for extreme peSSl-
mism. Although slow In getting into
movement, Fall trade, in the opinion
of most bankers, promises to be upon
at least as fair level as In recent
months.
THE prospect of continued heavy
expenditures for relief and in pur-
suance of other governmental policies
involving an unbalanced budget and
great deficits now certain to extend
over into the fiscal year 1886 i'm
presses many bankers with the idea
that the credit of the Government
will not bear the strain Indefinitely
and that some form of initiation in
addition to the present Set-up for
credit imitation will inevitably result. "
Banks Boom Housing Drive.
In line with the action taken last
week by the District Bankers Asso-
citation, the banks of the city today
started two weeks campaign to push
housing loans more vigorously in con-
nection with the local and national
housing improvement drives.
F. P. H. SiddonS, president OF the
District Bankers Association, stated
today that the member banks are
ready to give fullest consideration to
all requests for undermining loans
under the terms of the national
housing act He reiterated the fact
that the Washington banks have plenty
of money for such loans. More and
more applications are being received
each day-in fact, more applications
for other types of credit have also been
noted recently officials in all the
banks are prepared and glad to an
swer any questions that may be asked
regarding the modernization campaign
and the ways of obtaining money with
which to carry out property improve
ments.
Robert " Fleming president of the
Riggs National Bank, and vice presi-
dent of the American Bankers ASSo-
citation, also stated today that the
banks in Washington are anxious to
cooperate in every way in the better
housing program. He called atten-
ton to the fact that conditions since
the depression started have made
property Improvements impossible for
q good many people. Changed con-
ditions now make these renovations
possible. Title of the national
housing act makes the necessary long
term credit available for carrying out
this work. Mr.. Fleming expressed the
hope that citizens of this community
will take the fullest advantage OF
their opportunities to restore property
value.