Evening star., 1940-04-02
al --- Sl,997,443 s1,91O,239

eUlu udIy OE0,0I0 5fI ,6S4
March -------- 695,348 68O,391
Total ---- s1,997443 s1,e1O,239
Today's report follows closely on
the heels of the clearing house
March statement on bank clearings,
which totaled $110,284 00013, an in
crease of S6,367 ,649 43 over March,
1889, at the same time bringing the
gain for the first three months of
1910 to $27 ,499, ,52429 over the like
1889 period
Washington Gas Net Jumps.
Net income of the Washington
Gas Light Co. in February totaled
$324,251, compared with s251 ,566 in
February, 1899, a sharp gain of
S72,685, according to the report
filed today with the Public Utilities
Commission.
Operating revenues of S1,1O4 1926
for February this year compared
with s906,798 for February, 1899, an
increase of $198,026, as result of
the greater volume of gas sold.
Operating expenses, including
taxes, amounted to S723,O55 this
February, an increase of S136,Ol6
over February last year, due largely
to the production and handling OF
the increased gas sendout.
Incorporating income was S1O,8l2
higher in February this year,
amounting to $16,160. Interest
charges were approximately the
same in February this year as last,
being S73,68O.
The companys net income for the
flrst two months of 1910 amounted
to $565,454, a gain of S1OO.173 over
the same period in 1899, the report
showed.
The report also shows gas sales
OF 1,712,144 M cubic feet in February
this year, an increase of 357 oO8 M
cubic feet, or 26 per cent over
February a year ago, principally due
to the colder weather this year.
There were 159.896 meters in service
on February 20, this year, an in
crease of 4,223 over the last day of
February last year.
The company expended approx
imately $4,000 in February and
s162,000 in the first two months of
1910 for extensions to its property
to provide for the service require
ments OF customers, the report said
Underwriters Present Award.
At the monthly luncheon of the
District of Columbia Life Under
writer's Association at the Willard
Hotel, this noon, Mrs. Frances M.
Irwin was awarded first prize in the
insurance essay contest conducted
In Washington in connection with
Life Insurance Week" There were
a large number of entries in the
contest, the value of life insurance
being the essay subject. The award
was presented by the association
president, Joseph A. Mari.
Today'S guest speaker was Howard
G. Lawrence, general agent, Lincoln
Life, at Newark, N j., and his sub
ject What the Public Expects
Life Underwater to Know" Mr..
Lawrence is brilliant speaker on
insurance salesmanship. He took
charge of the Newark agency II
years ago, when the company had
only $4,000 of life insurance in force
in the State. Today his agency
ranks sixth among those of the COM
pany.
Gas Stock Sale Approved.
The Public Utilities Commission
has approved the sale by the WASH
ington Gas Light Co. of 24,400 shares
of preferred stock, the proceeds of
which are to be used for expansion
and for the payment of bank loans
Subject to approval by the Secur-
tiles and Exchange Commission, the
stock is first being offered to the
common-stock holders at S103 per
share These shareholders are be-
ing given until April % to make
their subscriptions.
After that date the preferred stock
will be offered the public, the issue
already having been underWritten
by six Washington investment firms.
Bank Stocks Hold Firm.
Washington bank stocks, sold over
the counter, were strong at the end
of March and the first quarter.
The close of the quarter found 100
bid for Anacostia Bank, with none
offered at any price. City Bank stood
at 241a bid and none offered; Co.
lumbia National, 200 bid, offered at
220; East Washington Savings, 141a
bid
Hamilton National is now quoted
at 32A bid and 3414 asked; Munsey
Trust, 80 bid, none offered. and Ma
tional Metropolitan, 270 bid, offered
at 2S0. The new Second National
stock registers 14h bid, with none
for SALE
Security Savings & Commercial is
quoted at 173 bid and 1877 asked :
Union Trust has peen quoted re-
Gently at IS bid and IS asked. Sub
urban National Bank Stock also ap-
pears in the counter list, the present
bid standing at 1919.
Washington Railway & Electric
participating units, also sold over
the counter. are currently being
quoted at 1924 bid and 21s4 asked.
National Dairy Sales Up.
With higher sales volume more
than offsetting somewhat increased
distribution costs, earnings of Ma
tional Dairy Products Corp. for the
first quarter of the current year are
expected to compare favorably with
the same months of 1899.
From present indications, says the
Wall Street Journal, net for the
period will at least equal and prob
ably slightly exceed the profit of
$1,811 900 shown in the first three
months of last year At the same
time. profits for the first 1889 quarter
were approximately three times those
of the like 1893 period.