Evening star., 1936-05-18
ASS0C|ATEDG. &E.
EARNINGS IMPROVE
Years Balance of $3O8,813
Compares With Loss of
$179,902 in 1884.
BY the Associated Press.

BY the Associated Press.
NEW YORK. May 1s.-Associated
Gas & Electric Co. and subsidiaries,
public utility holding concern with
main properties in New York, Penn
sylvania and New Jersey. reported In
a preliminary condensed statement
balance of $308.813 for 1885 after
charges, compared with deficit OF
$179,9 in 1884
J. /. Mango, president, said that
more than $l96,000, 900, or "A per cent
of the company debentures have been
exchanged by holders for the new de-
bentures under the plan which was
inaugurated in May, 1888.
Big Saving Foreseen.
This, Mango said, resulted in an
annual interest saving of more than
S3,oo0,0o0. up to the present" he
added, the company has had little
cash benefit from this saving because
of the expenses involved in carrying
out the plan"
New properties acquired in Eastern
States during 1885 add about sls.-
100000 annually to the systems gross
revenues, and increase by 20 per cent
the number of customers 1t serves"
the report said.
Mercantile Marine.
The report of the International
Mercantile Marine Co. and wholly
owned domestic subsidiaries showed
net loss for 1885 of $l,370,S24. after
all costs, compared with loss for
1884 of s2,1O0,682
The United States Lines Co., IN
which the I. M. M. owns more than
83 per cent of common stock, earned
S35,559 in 1885, compared with loss
of 1888, 129 in 1884. The proportion
ate share of United States Lines
earnings were not carried into the
I. M. M balance sheet.
Improved earnings Of both COM
panies last year were attributed in
large measure to shipments of specie.
but it was added I'VE cannot look
forward to a continuation Of this
business in the same volume during
the year 1886"
Southern Railway.
Southern Railway Co. for the quar-
ter ended March 81 had net loss of
5000. .622. against net loss of sl,124,924
in the March quarter last year.
Illinois Central.
Illinois Central Railroad Co, ex-
elusive of Yazoo & Mississippi Valley
Railroad, showed for the quarter
ended March 81 net loss of s6l6,960,
after charges and taxes against net
loss of s689,653 in the March quarter
last year.
Postal Telegraph.
Postal Telegraph g. Gable Corp, in
process of reorganization, had a net
loss of sl,4l8052 for 1895, against net
loss of 81 l590,540 in 1884.
Stone & Webster.
Stone & Webster, Inc, controlling
and supervising public utility prop
critics over a large section of the
country, reported for the IL months
ended March 81 net profit of s77l808
after allowance for cost of inventory
III EIlElIleclS TuUlC CSItlCe W. COul-
mon stock. equivalent to 36 cents a
share. For the IL months ended
March 81. 1885. the company showed
a net loss Of s427,957.
American Crystal Sugar.
American Crystal Sugar Co. and
subsidiaries. excluding Amalgamated
Sugar Co.. reported for the fiscal year
ended March 81 net profit of Se15,261,
equivalent to s138 common share,
against sl.200,130 or s2.4l share in
the previous fiscal year. The COM
pany operates beet sugar factories in
California, Colorado, Iowa, Nebraska
and Minnesota.
Servel, Inc.
Servel, Inc, maker of refrigerators
with principal plants at Evansville.
Ind. reported net profit of 1881. .581
or II cents a common share for the
quarter ended April 30. This COM
pared with net Of S942, ,238 or 50 cents
a share In the Anril lQ35 nIiarter