Evening star., 1938-02-27
WASHINGTON GAS
EARNINGS SHOW
SUBSTANTIAL GAIN
January Profit at $168, ,2O2,
Against $126,04O for
Same 1887 Month.
RETAIL SALES DECLINE
MODERATELY IN WEEK
Decrease of 8.94 Per Cent Leaves
Store Volume 4.s6 Per Cent
Under 1887 Period.
BY EDWARD c. STONE.

BY EDWARD c. STONE.
Scoring substantial gain in earn
mgs In January. the Washington Gas
Light Co. reported to the Public Utili-
ties Commission yesterday that net
income totaled $168,2O2. compared
with sl26,040 in January last year.
an increase. Of S42,l60. q
The monthly report filed with the
commission showed operating reve-
nues Of $847,661, sharp increase of
Sl17,736 over the figure of S729,925
a year ago. Operating expenses were
kept we'll in hand, but increased by
$77,588 from S517,482 in January,
1887, to $595,070 this year.
Deduction of expenses left net op-
Grating revenues of S252,59l. or an
increase of $40, 0,l48 over January. 1887.
After all deductions for interest and
amortization, the notable net gain
OF more than $4,000 was established.
The company also reported gas sales
Of 1,249 ,232 cubic feet, representing an
increase of 1879 per cent, compared
with the same month last year. AS of
January 81, 1898, there were 149,722
meters in service, compared with l44.-
902 on the same date last year, q
gain Of 4s,020.
d. c. Trade Slightly Lower.
Largely attributed to the compara-
tive lateneSs of Easter this year, de-
partment store sales in WASHINGTON
during the last week were 4.8s per
cent under the same week year ago
and 8.94 per cent below the previous
week, the Commerce Department re-
ported yesterday
Bank clearings in the Capital to-
tailed S17,488.4 .429. against S19,29s,518
year ago, the review added, while
building permits were valued at $685.
400, which included $13O,0O0 for
new theater, in comparison with
$587.50O year ago. The number of
tourists in the city was much larger
than in the previous week, but not
as large as year ago.
Retail trade in the rest of the fifth
district was influenced by generally
unfavorable weather, registering slight
declines from the previous week and
the like period in 1897 Special pro-
notlonal efforts in Baltimore met with
good consumer response, the Com
merce report said, where buying from
wholesale firms is still cautious. In
stallment sales were up per cent in
Charleston, S. c.
In its latest national business sum-
mary the Federal Reserve Board yes
terday reported definite "slackening
IN the rate of business decline in jan
uary."
Exchange Trading Declines.
Trading on the Washington Stock
Exchange in January decreased sharp
ly from the preceding month, the
Securities and Exchange Commission
announces. In January of this year
the dollar value of sales on the local
exchange amounted to $90,520, COM
pared with $4,000 in December. The
number Of shares changing ownership
also decreased, with 1,499 in January
comparing with 1925 shares in De-
cember. The commission announced
that the value Of trading on all regis
tered exchanges in the United States
in January. was 81 per cent lower
than in December.
Trading on the Washington Ex-
change during the past week was
quite active, although very quiet yes
terday. The days only sale was in
City & Suburban IS, $1,000 bond
selling at 60, off points from the last
previous sale, but S points above the
years low mark
Noted in Financial District.
The annual savings conference,
conducted by the American Bankers
Association. will be held this year on
March and at the Hotel Roosevelt,
New York Several Capital bankers
will attend
General Credit, Inc, of Washington
has declared the regular quarterly
dividend of s1.5O per share on the
preferred stock and Is cents a share
on the common, bringing payments
Tor the year ending February % to
S6 on the preferred and SIPS on the
common Both dividends are payable
March l to stock of. record Febru-
ary Is.
A large delegation of Capital bank
ers attended the annual dinner of
New York Chapter, American Insti-
tute of Banking, last night, among
them William H. Laughlin, president
OF Washington Chapter
Sales of American Stores in Janu-
ary totaled $8,387.595, a decrease of
81 ,052, ,424, or II per cent. The Pc
riod covered this year had four Satur-
days, against five year ago. Sales
for December were So per cent above
Decsnber. 1896.
Declaration of regular dividends
On une three classes of stock of the
National Dairy Products. Corp. was
pleasing to the many stockholders in
the Capital, where the company has
two subsidiary units.
The regular quarterly dividend Of
k1.621a per share on Peoples Drug
Stores preferred will be paid Tuesday.
There has been drawn by lot for
redemption at 1922 on April l, next,
$50,000 Pillsbury Flour Mills Co. first
8 per cent bonds.