Evening star., 1943-08-10
Washington Gas Net
Well Above 1912
During June
BY EDWARD c. STONE

BY EDWARD c. STONE
Net income of the Washington
Gas Light Co. for June was S43 JAG
ahead of last year, according to the
last of the monthly reports to be
filed with the Public Utilities Com
mission. Net income totaled $26 ,202
against loss of s16,944 in June,
1912.
Gross operating revenues amount
ed to 1888. .729, an increase of $1S5,-
100. Operating expenses, including
taxes, totaled s761,735, compared
with $620,115 year ago, an increase
of $14l,620. Interest charges and
other deductions took $73,132.
The company's net income for the
six months of the current year was
s1,08l ,606 compared with $858,974
last year, an increase of 1922 ,632.
Expenditures on construction prof.
ects for the extension of production
and distribution facilities in Wash
ington amounted to $74,092 in June
and s797, ,789 in the first six months
Of 1943.
The report also shows total gas
sales of 1,035,947 M cubic feet in
June, compared with 966,947 last
year. Gas sales to District of Co
lumbia customers during the month
of June amounted to 824,443 M
cubic feet, compared with 779,564
M cubic feet in June a year ago.
Meters in service in the District
of Columbia totaled to 185,707 at
the end of June, compared with
181.156 last year.
Postwar Investment Viewed.
The Washington Office of J. S.
Bache g. Co. is distributing a guide
for the investor, intended to meet
conditions expected to prevail after
the war. The booklet says this is
the time to begin switching from
war to peace stocks and makes
these suggestions:
BUY War bonds to satisfy re-
ouirements for safety of principal,
E and F bonds if current income Is
not necessary; G bonds where cur
rent returns are required.
Buy common stocks diversified
by industry and investment cate
CORY, emphasizing issues that in the
transition period ahead, will benefit
from the return to peace conditions.
Buy stocks of growth companies
where current yield may be small,
but where indications point to ex-
pansion of activities and increase
In earnings"
Maryland Loans Increase.
Insured building and loan asso-
Citations in Maryland made home
loans totaling 1889, 100 in the first
half of this year, compared with
s11,157, 800 in the like 1912 period,
the Federal Savings and Loan In
surance Corp. announced today. On
June 80 home mortgage loans OF
these associations totaled $59,41O,-
500.
In the half year the AZ associa-
tions increased their holdings OF
Government bonds from s87o,6oo to
s3,2o5,7oo.
Few State Bonds Voted.
State and municipal elections IN
July authorized only s829,500 in new
bonds, according to the Daily Bond
Buyer. The total for July a year
ago was S8,271 300 and for June, this
year, $l5,998, 500.
In the 15-month period ended last
March, personal checking accounts
revealed an increase of 33 per cent,
the Federal Reserve Board reports.
At the same time checking accounts
for business, or demands deposits,
were up $4,000, 900.
Miller Lincoln Director.
John w. Miller, vice president and
general manager of the William E.
Miller Furniture Co., has been elect
ed a director of the Lincoln National
Bank, Executive Vice President
Richard A. Norris announced today.
Mr.. Miller will be one of the young
est bank directors in Washington,
as he is only 80 years of age.
Born and reared in Washington,
Mr.. Miller is graduate of the
University of Maryland, member OF
the board, Washington Board Of
Trade: Lions Club. board of direc-
tors of the Electrical Institute of
Washington, director of the Wash
tngton Boys Club and a member of
the Kenwood Golf and County Club.
Lerner Store Sales Higher.
Sales of Lerner Stores Corp. in
June were 13 per cent ahead of last
year and in the seven months were
up 26 per cent.
John r. Thompson restaurant
sales in the first half year were "a
per cent better than last year due
to war expansion.
William E. Howard, assistant
cashier of the National Bank Of
Washington, is on his vacation.
Gerald E. Keene, assistant cashier
Of the Second National Bank, start
ed his vacation this week.
Woodward & Lothrop common
stock, the most active issues on the
Washington Stock Exchange, since
27,500 shares were sold to the public
last week. sold off half point in
foTev'S m rket