Evening star., 1940-01-30
Washington Gas Light
Earns $1,154,923
During Year
Net Registers Goin
OF $l68, ,463 Over
Preceding Period
BY EDWARD c. STONE.

Net earnings of the Washington
Gas Light Co. in 1889 amounted
to S1154,923, in comparison with
$9S6,460 in the full year 1888, or an
increase of Sl68,463 according to
the financial report filed with the
Public Utilities Commission today
Operating revenues totaled So
244855, an increase of S49l ,159. At
the same time operating expenses,
including taxes and uncollectible
bills, required S6,399646, which was
S558,94S more than a year ago.
This left net operating income
of s1,845,OO9, which was S67769 less
than in 1888.
Incorporating revenues amounted
to S164,361, which was SGT ,023 ahead
OF the previous year. Gross income
was almost exactly the same as a
year ago, but interest and amorti-
cation required only S054,447, which
was Sl69,229 under 1888 require
ments, as we'll rs furnishing the
chief reason for the 1889 net I'M
provement.
December Net Lower.
The December report filed with
the Public Utilities Commission
shows operating revenues of S80557l
hi
with s84O,O26 for December, 1888,
an increase of $45,545 as a result
of the larger volume of gas sales.
Operating expenses this Decem-
Der amounted to S634,927, an in
crease of s74,613 due principally
to The production and handling OF
the larger volume of gas. Nom
operating revenues this month
amounted to S1.443. Interest charges
were S72Ol2, or s36,426 lower than
last year because of the bond re-
financing effected in November,
1888.
The result of the months opera
ton was a net income of Sl00,075,
compared with s167,12l for Deem
The company reports gas sales OF
1885 O96 thousand cubic feet for the
month of December, an increase of
93,7O9 thousand cubic feet over De-
cember. 1888. There were 158,2 POS
meters in service on December 81.
1899. a gain of 4.246 over the same
Gate last year
The company expended approXi-
mately S124 300 in December for i'm
provements and additions to Its
property and spent over S1,ll3000
for that purpose during the year
1889
c. & P. Phone Earnings Rise.
Net earnings OF the Chesapeake
& Potomac Telephone Co. for the
full year 1889 amounted to $780,
543, in comparison with S1,703 1872
in 1888, an increase of S97,411, ac-
cording to the report filed with the
Public Utilities Commission today.
Operating revenues in 1889 totaled
S12,205 ,834, against the lower figure
of S11,379, $50 in the previous year.
Operating expenses also increased,
S8,651.28l, as compared with So l98,-
321 year ago, leaving net operat-
ing income of $3,554,553, against
S3161, ,529
Operating taxes required S1,251,-
668, compared with the lower figure
a year ago of S1,O99394. Total in
come, including operating and nom
operating revenues, totaled $2,33l,-
562, against S2,l269l3 a year ago
from which interest deductions took
s526,Ol9, against S418,78l in 1888.
The December report, also filed
with the commission, showed oper-
ating revenues Of S1,075,1l against
S1,OO6 ,O83; operating expenses of
S755,746 VS.. S726,644, and taxes to-
falling S123,712, compared with S97,-
534 a year ago, leaving net oper-
ating income of $l95,657, as COM
pared with S133,9l0 in December,
1888.
Interest deductions called for
S47,748, against S39843 in December
of the previous year, leaving a net
income of S149,879, in comparison
with S144456, or an increase of
S4,423, the report disclosed, There
was a net gain of 1883 telephones
in 1899. against gain of 13.O08 IN
1888, the rc00Tt said. Total calls
reached S. g $1,000 in 1899, against
317,995,000 in 1888,
More New Savings Records.
Improved business and employ
ment were reflected in year end fig
ures for mutual savings banks OF
the United States, holding more
than one-ffth of American bank
deposits In assets, deposits and
number of depositors they now stand
at their all-time peak, according to
the National Association of Mutual
Savings Banks These institutions,
operating in II States. last DeCem-
Der 80 had deposits Of S10,480, ,684,326,
a gain of S245, ,252 874 for the year
1899.
The most impressive gain, as seen
by officials of mutual savings banks,
was the rise in accounts by the
number of 29l 9l3 to total OF
15,448, ,466.
That this accumulation of capi-
tai was widely distributed is shown
by the average deposit of S045.8O
in regular mutual savings accounts.
The average of all accounts held
by such banks was $678.43. In the
case of regular accounts the figures
increased S1097 for the year and
1910 for all accounts.
The reduced earning power of
capital was emphasized by the con-
tinuation of declining dividend rates
paid to mutual depositors. For the
year they averaged 2.26 per cent,
against 233 per cent for the first
six months of 1889.
Heard in Financial District.
Johnston, Lemon & Co was among
the underwriting firms which today
offered an issue of $4,000 shares of
Dixie-Home Stores common stock
Of co 50 nor share