Evening star., 1937-12-29
WASHINGTON GAS
EARNINGS CLIMB
Gain in November Places
11.Month Net Well Above
1886 Mark.
BY EDWARD C. STONE.

with S625.756 for November a year
ago. an increase of S75,85l. Operat-
ing expenses increased S4597l from
$496, ,646 in November, 1886, to s542 GIT
In November this year as a result of
the larger volume Of gas handled.
leaving net operating revenues of
$l58,990 for this November, an in
crease of s29,880 Incorporating rev.
enues likewise increased sl6,558, COM
pared with November, 1886.
The net result of the months op-
Grafton after all deductions for in
terest and amortization was a net
S47,448 over the net for November
last year, making the showing for
the month one of the best of the year
The November earnings bring the
net income for II months of the
current year up to S566,222, an i'm
provement of s30662. or approxi-
mately 6 per cent over the same
period last year.
The company reports a growth of
14.8 per cent in ga sales, from 878, ,855
mcf. in November. 1886, to 1.0oe.126
mfc. in November this year. The
149,108 meters in service at the
end of the month also indicate
healthy expansion, this figure rep
resenting $500 more meters than at
the end of November, 1886
Express Tops 1896 Record.
Railway express business in Wash
lngton during the Christmas holiday
season ran about per cent ahead of
last year and wound up with the best
volume record since the early days of
the depression, which started shortly
after the 1929 Wall Street crash.
Supt w. c. Turner of the Washing
ton Office of the Railway Express
Agency, Inc, said today that outgoing
express and incoming business showed
almost exactly the same increase.
Early in the holiday season business
began to reveal gain of about 5 per
cent over last year, and that figure
remained practically unchanged
throughout the Yuletide rush.
Express officials were very much
pleased with the holiday season results,
partment store trade in the Capital
was also better than last year. The
volume of express handled has always
been considered an excellent barome-
ter to retail trade activity. In spite of
the enormous amount of express COL
lected and delivered. the office here
kept up very close to each days trans
portation demands.
Another barometer, the volume of
business handled through the City
Post Office, is equally impressive, out
going parcel post mail being 629 per
cent ahead of the 1886 record and in
coming packages Il per cent above the
holiday returns in 1886
Holiday trade results we're a happy
surprise to many merchants. Trade
started off rather slowly. Suddenly it
moved forward by leaps and bounds,
increasing the pace steadily until the
peak was reached just before Santa
Claus arrived in the Capital.
Savings Associations Growing.
Savings totallne sl2.207.6OO we're
invested by the public during Novem-
Der in 1874 Federal savings and loan
associations, increasing such aggregate
investments in these institutions to
S608. 200, it was reported today by
the Federal Home Loan Bank Board.
Investors in these associations now
number approximately 100000. there
being 10,142 new investors. added dur
Ing November. The average invest
ment of such savers is approximately
$740.
The board stated that gains both in
savings and number of savers we're
accompanied by sharp decrease in
the amounts withdrawn from savings
accounts.
As of November 80, Federal asso-
Citations in the country totaled 1911,
statements not yet being received from
the other 1T associations.
Hanes on Advisory Council.
Directors of the Federal Reserve
Bank of Richmond have made the
following appointments, according to
Robert Lassiter, chairman of the
board:
r. M. Hanes, president, Wachovia
Bank e. Trust Co.. Winston-Salem,
N. c., member of the Federal Advisory
Council for the year 1888
James Dixon, president, Eastern Ma
tlonal Bank of Maryland. director of
the Baltimore branch for three-year
term ending December 81, 1910.
T. E. Hemby, vice president, Ameri-
can Trust Co., Charlotte, N. c., di-
rector of the Charlotte branch for
three-year term ending December 81,
1910.
The Board of Governors OF the Fed
eral Reserve System has appointed
W. Frank Roberts, president of the
Standard Gas Equipment Corp. Balti-
more, director of the Baltimore branch
for another three-year term.
The governors have also named
George NJ Wright, president Republic
Cotton Mills. Great Falls S. c., di-
rector Of the Charlotte branch for
another three-year term.
Southern Asks Stock Rights.
sion reported today that the Southern
Railway has applied for authority to
issue 1,298,200 shares of no par value
common stock and to exchange them
for an equal number Of outstanding
common shares of $l00 par value.
The company informed the commits
sion that it hopes, when market con-
ditions improve, to sell common stock
and convertible bonds as a means of
reducing the fixed interest-bearing
debt.
Exchange Trading Heavy.
Trading was the heaviest on the
washington Exchange today in many
weeks. Bank and trust company,
utility and miscellaneous issues
changed hands near recent Levels.
Capital Transit sold at ia. up a
quarter Of point since the last pre-
vious sale and rejecting the better
earnings report.
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