Evening star., 1942-06-03

also feNedleQ sweeping increase
over last year. Postal revenues in
the first five months of 1912 com
pare as follows with like months in
1941:
January -- 1852 .762.49 s7O5 .8O4 81
February - 671,31347 727,32304
March ---- 917,03000 159.105 OF
April ---- 9O3,58497 794, ,564 sc
May -------- 916,32825 777,1413G
Higher Expenses Cut Gas Net.
The April report of the Washing
ton Gas Light Co., filed with the
Public Utilities Commission today
shows gross operating revenues OF
1919 844, compared with S912,078 for
April, 194l, an increase of 1856
Operating expenses, however, in
creased s121.763 over 1941 to a total
of S780,367, resulting in a reduction
of S53,997 in net operating revenues
for the month.
Incorporating income shows a
decrease of S19,939 due to the cur
tailment of merchandising activities
because of the war, and income
deductions were S3,703 higher. The
final result was net income of
S149,527, compared with 1927, ,166
last year, a decrease of S77,639.
The company's net income for
the first four months of this year
amounted to S812.779, compared
with S982005 for 1941. The reduc-
ton of S169226 is attributable to
increased taxes, the provision for
which was approximately S171 300
higher in the current year than in
1941.
The report shows that this year, S
volume of gas sales is approximate
ly Is per cent greater than in the
first four months of last year. The
sales were 7,561.833 M cubic feet
for the current year to date COM
pared with 6,579.832 M cubic feet
for last year. The company ex-
pended approximately S131.5 500 in
April and s528,0O0 in the first four
months of this year for extensions
to its property in Washington.
200 Attend League Outing.
More than 200 members and guests
of the District of Columbia Build
ing and Loan League attended the
annual outing and dinner yester-
day at the Washington Golf and
Country Club. The affair was a
complete success.
Among those at the head table
we're Fred A Smith, past president
of the Board of Trade; Theodore
Cogswell, register of wills; Oscar R.
KreutZ, managing director of the
Federal Savings & Loan Corp:
Clarence f. Kefauver, vice president
of the District Building & Loan
League: w. P. Folger. chief ma
tional bank examiner; c. Clinton
James. former president of the
United States Savings & Loan
League.
o. K. La Rogue. president, Fed
eral Home Loan Bank of Winston
Salem; David Ford, assistant gov
ernor of the Federal Home Loan
Bank System; Carl Bergman, di-
rector United States Savings & Loan
League, Victor B. Deyber, chairman
of the board, Second National Bank,
and F. Wilson Camp, secretary of
the District of Columbia League.
Martin A. Coock was general
chairman of the outing, other chair
men including c. Gay Harrell, Cha
pin B. Bauman, John G.. Kolb, E. j
Carlson and C. Clinton James.
President Wilfred H. Blanz present.
ed the many prizes.
Realty Bonds Up Slightly.
At the close of May, the Amott-
Baker real estate bond price aver
age stood at $3O9 per $1,000 bond,
an increase Of O.3 per cent over the
5000 average as of April 80. The
year to date gain now stands at %
per cent with the average price up
from a figure of 1902 at the close
of 1941. Four important Washing
ton issues are included among the
bonds on which the averages are
based.
The slight decline in the averages
of April was partially wiped out
during May, and the year to date
gain closely approached the high
point reached at the close of March.
Philadelphia and Pittsburgh issues
have made the best gains since the
first of the year; the former ad-
vancing 81 per cent and the latter
8 per cent.
Bond Issues at Record Low.
According to the Daily Bond
Buyer, the voters of 36 communities
in IS States during May authorized
a total of only S4,235 300 of new
bond fotations as compared with
S16,170,300 in May, 1941. Ordinarily,
bond fotations in May are very
heavy, but last months total was
the smallest May figure since 1888.
The largest flotation approved was
S1,6OO,000 by the voters of Mobile,
Ala. The remaining items were all
in amounts under $350,000 each.
During May projects involving
S3,O38, 900 we're turned down.
Ouinter New Board Chairman.
Ralph D. Quinter, president of the
Real Estate Mortgage & Guaranty
Corp, has been elected chairman OF
the board of directors, in addition
to his present duties as president
He succeeds the late Lewis E. Breu-
ninger
The directors have declared divi-
dend of per cent on the preferred
stock, payable June 80 to stockhold-
ers of record June 20. The pre-
ferred stock is listed on the Wash
ington Exchange, the last sale being
made at 712.
Today's Trading on Exchange.
Capital Traction SIS drew most o1
the attention on the Washington
Stock Exchange today, $500 trans
fer opening the market at 1855
followed by a $1,000 sale at los
against recent sales at 10434. A
single share of Liberty Nationa