Evening star., 1936-10-31
WASHINGTON GAS
EARNINGS DOWN
September Profit at $36, ,691
Against $81,019 for Same
1885 Month.
BY EDWARD C. STONE.

Net operating revenues of the Wash
ington Gas Light Co. in September
totaled $36, ,691 against $81 ,019 in Sep
tember year ago, or decrease Of
$44,328, according to the monthly re-
port filed today with the Public Utili-
ties Commission. The drop in oper-
ating net was ascribed partially to the
reduction in gas rates which was
approved in December, 1885. In
creased charges for the retirement OF
property also required in the sliding
scale arrangement further accounts
for the decrease In net operating
revenues.
Operating expenses in September,
including taxes and uncollectable
bills, totaled $358,13l as compared
with $344,1 an increase of $l3,991.
Incorporating revenues were slightly
lower than a year ago. Interest and
amortization called for S83, ,438 against
S73,847 year ago, leaving a net de-
ficit for the month of S48,514 in COM
parison with a $10,163 increase in
September, 1885.
For the first nine months of the
year Washington Gas operating reve-
nues amounted to $4,914,910, gain
of s187,758 over the 1885 total. Oper-
ating expenses, taxes and bad bills
we're 1888, ,404 higher than last year,
leaving net operating revenues OF
S1,139,l69 against $l,334815.
Gross corporate income stood at
S1.2O3,624 compared with S1,386,575
and interest and amortization required
S7O1 ,351 against S654,488 and leaving
a net income for the nine months of
S502,273 as compared with s732'O87,
drop of S229,814, but still substantial
profit for the period.
Georgetown Gas Also Reports.
The monthly report of The George
town Gaslight Co., also filed with the
Public Utilities Commission today,
shows a seasonal net loss of 1851
for September, compared with a loss
of s3,846 in September last year,
this result, like the Washington COM
pany, being partly due to rate reduc-
tions and increased charges for retire
ment of property.
1t will be recalled that the rate
reduction, which became effective in
December, 1885, was designed to pro-
duce savings to District of Columbia
consumers of approximately s305,000
per year. The operating revenues of
the two gas companies, during the
first nine months of 1895, despite
these reduced rates increased $685.
460 over the corresponding period OF
1885, due to the greater volume OF
gas sold, thereby reducing the de-
crease in net income for the period
to S235, $50.
During the nine months ending
September 80, 1885, the gas sales OF
the two companies were 7,1e9 million
cubic feet, compared with gall mil
lion cubic feet during the correspond
ing period a year ago, an increase OF
1913 per cent At the end of Septem-
Der these District of Columbia COM
panies had 1883 meters in service,
an increase of 6,485 meters over Sep
tember of last year.
C.&P. Phone Earnings Improve.
While off slightly in September,
earnings of the Chesapeake & Poto-
mac Telephone Co. in the first nine
months of this year are well ahead OF
the same months in 1885, the report
filed with the Utilities Commission
today reveals. Operating revenues in
September amounted to $849,530
against $81o,329. Operating expenses
totaled s626 ,643, compared with $685.
672, leaving net operating revenues OF
S222,887, in comparison with $223,657.
Gross stood at s159,044, interest
deductions called for s15,373. leaving
q net income, or balance before divi-
dends, of S143,671, as compared with
s144,171 in September of last year.
Washington was served by 208,856
telephones on September 80, 1886,
net gain of 1877 over the previous
month. On September 80, 1885, there
were 1925 telephones in service.
Telephone users in Washington made
23,186000 calls in September, as COM
pared with 20,524,000 during the same
month in 1885.
For the first nine months of this
year c. IL P. operating revenues
amounted to S7,890,084, well ahead of
last year. Operating expenses also ad-
vanced, leaving net operating rev.
enues of $2,285,05l. Taxes called for
S664,877 Gross reached the sum of
S1,627,936, from which S133.216 in
interest was deducted. leaving a net
income of s1,494,720, against ST.
414,919 in the first nine months of
1885.
Head Insurance Institute.
The District of Columbia Life Un-
derwriters' Associations new Life In
surance Institute has been placed in
charge of Board of Trustees made
up of some of the leading insurance
men in the city, with J. E. McCombs
chairman. The rest of the board in
cludes:
Laurence H. Rigges. Roger L. Bald
win. Winthrop G. Batchelder. H. Law
renee Choate, John F. Cremen, James
A. De Force, Ben A. Harlan, Vernon
w. Hollerman, Richard w. Griswold,
Harold D. Kraft, Alma McCrum, the
only woman member; j. Allen Maphis.
Paul H. Primm, Earle w. Sapp and
Morton H. Wilmer.
Several of these trustees are on the
faculty, which has already been an
nounced. The purpose of the insti-
tute is to make available authoritative,
practical and complete instruction in
life insurance and allied subjects.
Glass work will begin next Monday.
Fifty students have already enrolled.
Statesmen Win Gold Medals.
Roderic Peters, 3700 Massachusetts,
avenue, and Seward Abbott of 1901
Connecticut avenue. were honored at
the annual sales convention OF the
Servel Electrolux sales division of Ser
vel, Inc, with gold medals for five
years of faithful service with the COM
pany, according to word received here
today from the Homestead Hotel, Hot
Springs, Va, where the convention
was held.
Sales Drive by Phone.
r. p. Harrington, appliance sales