Evening star., 1938-12-01
Higher Net Reported
By Washington Gas
During October
Earnings Reach $56,626,
Against $14,088 in
Same 1887 Month
BY EDWARD C. STONE.

only $14,O88 in October, 1887, gain
of $42,538 for the month, accord
ing to the statement filed today
with the Public Utilities Commits
sion.
The report shows operating rev.
enues for October of $500, ,305, an
increase of $11,149 over $582 1856 in
revenues a year ago. Operating eX-
penses decreased $18,882 from $497,-
1876 in october last year to $478,887
this October Net operating rev.
enues this year were $144 Alb, or
$30,03l more than for the same
month last year. Incorporating
revenues were up S12,113.
October earnings bring the gas
company's net income for the 10
months ended october 81 up to
s6l0,507, as compared with $473,047
for the same period last year, a
notable increase of $137 ,460.
Today's report reveals total op-
Grating revenues of S6,249,776 for
the 10 months, an increase of S316,-
BIT over last year. In the same
period operating expenses, taxes and
uncollectible sbills increased only
S186,520, leaving a gain of $129,857
in net operating revenues. Gross
amounted to $1,421, ,13l, a gain Of
S135,l61. Interest and amortization
required $81O,624, against $813,923 a
year ago.
The company reports gas sales OF
639, ,l2O m.cf., or 25,862 more than
for October year ago. There
were 151,857 meters in service on
October 81. 1898. a gain of $3.50
over the same date last year.
Exchange Trading Lower.
Trading on the Washington Stock
Exchange in october was slightly
under the record of the previous
month, the Securities and Exchange
Commission reported today. The
dollar value of all sales on the
exchange was placed at $91 APO,
against S98,093 in the earlier month,
the report said.
The dollar value of all stock sales
was very close to the total for Sep
tember, S80,055, comparing with
S31 659. There was sharp drop in
the share turnover, October sales
reaching only 816 shares, against
l1O2. Business was ahead of last
year, however, when the october
dollar value of stock sales was
S71994.
Bond business was light during
October, dollar value amounting to
$1f365, against $16234 in September
of this year and S2l, 1854 in October,
1887 The principal amount of
bonds sold totaled S11 500. Business
was much larger on the exchange
in 1886 than in either year since
then.
october business on the Baltimore
exchange was almost double the
September record, the report showed.
The dollar value of sales on all regis
tered securities exchanges in october
amounted to $1740,251 ,592, an in
crease of IS per cent over September
and a decrease of 13 per cent from
October, 1887.
Wholesale Trade Falls Off.
The dollar value of wholesale trade
during October was per cent under
last October, according to reports
from $500 wholesalers to the De-
partment of Commerce However.
sales in October declined only is
per cent from September.
Total sales of the reporting group
during October amounted to $212,-
100000, compared with S233, 100000
for October, last year, and $215,-
100000 in September.
The department said the rate of
collections on accounts receivable
outstanding was at the same level as
last October, but slightly higher than
during September. Collections dur
ing October of both this year and
last amounted to 10 per cent of
accounts receivable outstanding on
the first of the month.
The total volume of accounts re-
ceivable outstanding on october l
was II per cent smaller than on the
same date last year, but about 5
per cent higher than on September l.
Douglas Praises Eicher.
Edward G. Eicher, appointed as
member of the Securities and Ex-
change Commission by President
Roosevelt, is close friend of Chair
man William o. Douglas.
Commenting on the appointment,
Chairman Douglas said: II am de-
lighted to learn that President
Roosevelt has appointed Edward c.
Eicher to the vacancy on this COM
mission. My personal and official
relations with Mr.. Eicher have given
me the highest regard for his ability.
1t is my hope that he will be- able to
undertake his new duties in the very
near future"
While European developments
have been moderately disturbing the
domestic business outlook continues
satisfactory, according to Fenner &
Beane's weekly review. Several of
the major business indexes are now
at higher levels than during Novem-
ber, 1887, and further favorable COM
parsons are in prospect for Decem-
ber. The month of December is
frequently marked by tax selling,
but this type of activity rarely has
more than transitory effect upon the
course of prices, the review adds.
Werber to Discuss Insurance.
William M. Werber, jr, none other
than Bill Werber, star third base
man of the Philadelphia Athletics,
who is Washingtonian and spends
his winters selling insurance, will
address the District Life Under
writers Association on Quick Sales
From Quick Prospecting" at the
December luncheon next Tuesday
noon at the Willard Hotel, it was
announced by the association to-
day.
The veteran insurance producer,
Dwight T, Scott, will speak on
christmas Package Selling" and
Roy B. Lanham, another personal
producer, will talk on Doing What
It Takes" This will be the last
meeting of the calendar year. The