Evening star., 1936-07-24
GAS NET REVENUES
IN S1OO,O()D DROP
" VS'~
Heavier Expenses Bring Half
Years Income Under
1885 Levels.
BY EDWARD C. STONE.

Total net income OF the washington
Gas Light Co. in June was of $46,5
as compared with the same month last
year, and in the first six months of
this year was 100000 lower than in
the like period in 1885.
According to the June financial
statement just filed with the Public
Utilities Commission, net operating
revenues for the month amounted to
S75,379. against $135,25 for June Of
last year, a decrease of $59,87l.
Operating revenue for June, 1886,
S4S4,208, compares with $479,426 for
June year ago. decrease of $25,218.
Operating expenses, including taxes
and uncollectible bills, increased s34,-
$50. this years figure being $37S,829,
against S344,176 in June, 1895.
incorporating revenue for June this
year increased $22, ,525 over last years
figure of s16,557 to $4,000, resulting
In a gross corporate income of STA
46l, which compares with $l51.807
for June, 1895, or a decrease of $751;
346.
Interest deductions of. S81 OPS for
June, 1886, were $9,179 more than last
years figure of BAT. resulting In
net income of S33,435 this year
compared with $79,960 last year.
The report for the first six months
of this year shows total operating rev.
enues of S3,764 ,498, an increase of
SPILL over the same period year
ago At the same time operating ex-
penses advanced to $2,7l5,720, jump
Of S315,554 over last year.
Incorporating income increased
more than $4,000 but there was an
pffSetting increase of $4,000 in in
terest and amortization, leaving total
net income of S656,1 ITO. against $780,
SIS year ago, or a decrease in net
Of Sl00,405.
Georgetown June Net Higher.
The monthly report of the George
town Gas Light Co., also filed with
the Public Utilities Commission, shows
a net loss of Sl,763 for the month of
June. 1885. as compared with loss
of S4,187 for June of last year.
Operating revenues in June this
gear were s84,044, as against S85,954
for June, 1885, a decrease of s1,910.
Operating expenses, including taxes
and uncollectible bills decreased s2,246,
this years figure being $84,069,
against S86,315 for June. 1885.
Incorporating revenue was $3.50
more this year than last year, result
ing in a gross corporate income Of
s4702. compared with an income of
S4,116 for June, 1885. Interest de-
ductions decreased 1888. this years
figure being s6,465, against s8,303 for
June, 1885.
For the first six months of this year
operating revenues made gain of
s58.71l. Operating expenses were
held under expenses with an advance
of S53273, leaving a net operating in
come S5,438 higher than year ago.
Gross was higher, interest and
amortization practically the same as
last year, leaving a total net income
of s28522. against s20,678 in the first
half of 1895, or a gain so far in 1886
of s7.S44
Potomac Powers Net Mounts.
Potomac Electric Power net earn
tngs improved substantially in June
ind in the first six months of 1896.
according to the financial statement
filed today with the Public Utilities
Commission. Opera ting revenues in
June totaled sl.l247 36. an increase
Of s67,610,14, or $40 per cent over
June, 1885.
At the same time revenue deduc-
lions for expenses called for $685.
60805. an increase of 36,678.71, or
b.58 per cent over the same month
isst year, leaving net operating in
come of s431 1871, a gain of $780,
p31 43, or 773 per cent
Deductions from gross were S4.558.32
more than in June a year ago. leaving
. total net income in June this year
of S34l.713.60 in comparison with
S3177l165 in June, 1885, gain for
the month of s2400l95, or 7.55 per
cent.
Substa ntiaI Half Year Gains.
The Potomac Electric Power Co.'S
operating revenues for the first half
Of 1898 amounted to S6,993, ,96l.54.
gain of s45l ,003.l8, or nearly per
cent over last year. Revenue deduc-
lions for operating expenses took $4,-
24498514 a rise of $208. .76O.O5, or
b17 per cent. leaving a net operating
income OF s2.748976.4O. a gain over
last year of s242243l3 or o66 per
cent.
Incorporating income was $4,000
lower than last year. Deductions
from gross for interest and dividends
required 1898 1929. up s37. .621 SO. or
$40 per cent.
This left net income for the first
half Of 1886 of s2,205. .35767, which
Is gain of 698.13, or GAL per
cent, over the first six months of
1885. This is an excellent record
and reflects the steady increase in
demand for electricity which has
been noted in the Capital every month
30 far during the present year.
$30.0O0,O0O Bond Issue Out.
The New York Edison Co. $50 ,O00.-
900 issue Of first lien and refunding
mortgage 3A bonds, series E, was
placed on the market today by Nor
gan Stanley g. Co. and a group of
underwriters. The bonds are priced
at 102 and accrued interest. The pro-
CeeoS are 10 De applled 10 the redemp-
ton on October /. 1886, at los and
accrued interest of the company's
series A bonds and for other purposes.
The new bonds are due April 1, 1866.
Associated with Morgan Stanley &
Co. Inc. as Subunderwriters are Kuhn,
Loeb e. Co.; Blyth & Co., Inc; Brown
Hartman & Co, Inc; Lazard Freres
& Co.. Inc; First Boston Corp, Ed
ward B. Smith & Co., Bonbright Il
Co. Inc; Lehman Bros and Clark
Dodge & Co.
Transit Stock Holds New Peak,
Capital Transit stock again sold at
the new high for the. year Oh the
Washington Stock Exchange today.
Only one small lot changed hands,
but that was at 17H. The market
closed with II bid and 18 asked,
against an asked price of only 17H