Evening star., 1934-02-06


Sperry. presented at 7
the stockh olders' .S
meeting.
The total amount
Of gas sold was / ,..sssS
64l.978 cubic feet, ~ $s3y
compared with T.
390,19 in the prev M$3
ious year. the latter Il
figure also establish M ss 'sMs
ing a new all-time Ess8
high mark. b IA
In spite of the A K
substantial increase $& $l
In sales last year, Marcy l.. Sperry.
gross earnings we're
sl43.o68 lower than in 1882. the de-
cline in earnings being due to average
lower rates. Net income before interest
charges and provisions for retlrements,
however. showed a decrease OF only
ses o45 because of careful manage
ment and reduction in operating eX-
penses.
The dividend rate remained un-
changed during the year at 50 60 per
share requiring a disbursement OF
S468 900. No changes were made in
rates during 1898. In the District of
Columbia and Maryland the tempo
rary discount of g. per cent, lnsti-
tuted August /. 1882. as ordered by
utilities commission, pending certain
Investigations. was kept in effect.
Construction expenditures for 1888
were s692242. After deducting retire
ments of property made during the
year, a net increase of S496,770 was
shown in the fixed capital accounts
of the companies. This shows an
approximate $4,000 retirement.
New Project Under Way.
With the increase in the amount of
gas sold, increased gas holder capacity
has been required. The site of this
new plant is in Maryland near the
District line. 1t is estimated that the
new holder will cost S8l5,0OO and
sl65.13 has been expended on it dur
ing the past year. Other property
additions during 1888 were largely
routine, the report says. Some further
borrowing in 1884 will be necessary to
complete the gasholder project.
President Sperry refers to the valu-
alton hearings before the Public Utili-
ties Commission and states that in
August, 1888 the companies accepted
the Presidents e-employment agree
ment, modified to conform to the
necessities of the gas operating utility
industry.
The gas company now has total
assets of $50. 1922 40 compared with
s31 .668. 1851 at the end of 1882. an
increase of S1,114 96l83. The number
of customers meters at the end of the
year was 135,198. while year ago the
total was 1873 948, or a gain of 1880
during the u months.
All directors were reelected at the
annual meeting, Cary T. Grayson, Will
ton j. Lambert, c. H. Pope, Marcy l..
Sperry, Sidney F. Taliaferro, Corcoran
Thorn and Robert D. Weaver.
Tax Data Extension Allowed.
Washington brokers have received
word from the Association of Stock
Exchange Firms that the United States
commissioner of internal revenue
has notified collectors that they are
authorized to grant 30-day extern
sion to brokers who find it impoS-
sible to furnish information which
was to be filed by February Is on
form 100
Form 100 of the Bureau of Inter-
nal Revenue establishes that every
person or organization acting at any
time curing the year as a broker or
other agent in stocks. bonds or COM
modify transactions, including banks
clearing orders for depOSitorS or GUS
todian accounts, is required to make a
return of information for each GUS
toner for whom the aggregate OF
either purchases or sales is S25 900 or
more during the calendar year 1888.
1t must be kept in mind, however
that this is not a general extension
of time. Every broker wishing such
an extension must apply in writing to
the collector of internal revenue in
his own district, giving reasons for
the request.
Building Permits Lower.
Building permits issued for work
within the corporate limits of 3 fifth
district cities numbered 1864 in De-
eember, 1888, with estimated valua-
ton figures of only S1,106, ,697, COM
pared with 1883 permits issued in
December, 1882, for a valuation total
OF sl,465, $50. Last month the num-
Der of permits decrease 20.2 per cent
and valuation figures fell 24.5 per
cent, in comparison with the low fig
ures reported for December. 1882.
Seventeen of the 81 cities reported
higher valuation figures for Decem-
ber than for the corresponding month
of the preceding year, but most OF
these increases were cue to very small
1882 figures rather than to large
amounts of work planned last month.
All three of the largest cities, Balti-
more, Washington and Richmond, re-
ported even lower figures for DeCem-
ber 1888, than for December, 1882.
During the entire year 1888 permits
issued in the 81 reporting cities to-
tailed 2l369, compared with 2778l
permits issued in 1882 and 34.4S4
permits in 1881. Estimated valuation
figures last year totaled only $40
728.673. compared with s35.61384l in
1882 and s8O,739.8Ol in 1881, the
Richmond Reserve Bank reports.
Mergenthaler Leads Market.
Mergenthaler Linotype stock got
practically all the attention on the
Washington Stock Exchange today.
The stock opened at 81, off one
half from the last sale last week.
It then dropped to 2634 The price
then advanced to 81 on 105-share
turnover. The days sales totaled 118
shares.
Capital Traction figured in one
B-share sale at %, off y, from
other recent sales. 1t closed with
% bid and "a asked.
Directors of the Washington Rail-
way g. Electric Co. have declared
the regular quarterly dividend Of
$175 per share on the common stock,
and the regular quarterly dividend
of s125 a share on the preferred
stock, both disbursements being pay
able March l to shareholders of rec
ord February Is.
Maryland Bank Reopens.
The Elkton Banking & Trust Co.
Of Elkton, Md, which has been oper-
ating on a restricted basis since the
bank holiday. has resumed operation