Evening star., 1940-12-04
Washington Gas Net
Shows S7,365 Gain
During October
Sales Rise l8 Per Cent
Above Lost Year,
Report DiscIoses
BY EDWARD c. STONE.

increase OF So4 ,l3o over OCTOBER last
year. Operating expenses, including
taxes, increased S77,29l, amounting
to S607,733 this October, compared
with $3.50, ,442 for October, 1899
Incorporating income decreased
slightly to total of S24874 for the
month. The report shows saving
of 81 ,l91 in income deductions which
amounted to S65,896 for the month,
and the net result of operations for
October was s25, 500 this year, against
$l8231 a year ago, up S7,365.
The companys net income for the
first 10 months of this year was
1889 448, a gain of Sl50899 over the
same period last year.
The report shows gas sales of
zoos Sic M cubic feet for the cur
rent month, an increase of 155,056
NJ cubic feet. or 19 per cent over
October, 1882
There were 1853 987 meters in serv-
Ice on October 81 this year, an in
crease of 1883 over the same date
last year
The company expended approx
1868 400 in the 10 months of 1910
for extensions to its property.
Stevens Discusses Railroads.
William H S. Stevens, assistant
director, Bureau of Statistics, In
terstate Commerce Commission, de-
clared last night that the future of
the railroads depends on how much
traffic other types of carriers con-
tinue to get away from them.
If other carriers are able to in
crease their traffic the future of
railroad securities is likely to be-
come more serious before it be-
comes better, with qualifications
for present armament or possible
wartime increases in traffic, he as
serted.
Even then, said DR.. Stevens, the
future is far from hopeless. If
optimistic estimates are accepted,
hundreds of millions of dollars can
be saved by large-scale railroad con-
solidation and through co-ordina-
ton. After discounting some esti-
mates increases in revenue might
be substantial.
If such cost reduction could be
effected, DR.. Stevens said, and fixed
interest charges were largely elimi-
mated through the substitution OF
participating interest bonds, either
alone or in combination with income
or lower fixed interest obligations,
tn erailroads would be in much
better position to resist the impact
of economic changes resulting from
losses of traffic or otherwise.
DR.. Stevens addressed the fiduci-
aries section of the District Bank
ers' Association, of which Henry K.
Dierkoph is chairman. He devoted
his address to the two big prob
lens, railroad reorganization and
the outlook for railroad securities
President A. M. McLachlen of the
District Bankers Association COM
plimented the trust bankers on the
work the section is accomplishing.
Reports were made by Lester A.
Lawrence, chairman of the Trust
Law and Legislation Committee;
Bernard L. Amiss, chairman of the
Trust Investments Committee, and
Willard G. McGraw, chairman of
the Committee on Standardized
Trust Forms.
More Optimism Advocated.
In letter to the New York Stock
Exchange Magazine Chicago trad
er urges more market optimism on
the part of brokers. Brokers need
to be shaken out of foreign pes
simism into domestic optimism" he
asserts.
Let brokers boast" he continues.
'about carloadings at a recent 1910
peak. about the big boom we are
entering as the result of seven bill
lions of armament orders, the back
log of aircraft manufacturers
which. now exceeds $4,000, 900 900
and is still rising; the increase in
automobile sales, shipbuilding yards
with enough orders on hand to
keep them busy day and night
until 1851 and employment gains
within per cent of the boom of
1929"
The Chicago writer says stress
ing of these points would mean
regular stock turnover Of 100000
shares a day. In commenting
Washington brokers say that the
war is the leading factor in the
market at present. something that
neither brokers nor customers can
ignore in studying conditions and
prospects
Virginia Home Loans Jump.
Virginia people placed s7.427 ,808
In the 25 insured savings and loan
associations in that State during
the first 10 months of 1910, the
Federal Savings and Loan Insur-
ance Corp. reports.
During October 419 loans on
homes were made by the institu-
tions for total amount of S1,037,-
Ais. In October. 1899, 285 home
loans were reported, amounting to
S780735. AS of November l the as
sociations had total home mortgage
loans on their books aggregating
S30211 900.
Heard in Financial District.
The cashiers section of the Dis
trict of Columbia Life Underwriters
fASSOCldllOll Will llUlu Vic
luncheon meeting tomorrow at the
Jackson Place Coffee Shop. Matters
OF importance to the association will
be discussed.
New passenger automobile financ-
ing In the first 10 months of 1910
was 304 per cent ahead of last year
In the same period, the Commerce
Department states.
The j. c. Penny Co. has voted an
extra dividend of 81 and the regular
quarterly dividend of IS cents on the
common stock, both payable Decem-
Der 26. Current dividends will bring
payments for the year S. same as in
1899.
Voters of 100 communities in %
States during the month of Novem-
ber authorized new bond flotations
totaling s55,7l8,358, as compared
with 1920 800 in November of 1899,