Evening star. [volume] (Washington, D.C.) 1854-1972, 1953-02-09
Gas Light Earnings
Decline in December
And for Entire Year

WV oV4AS 4CNGAACoI O4NA OeSCO Ca
penSeS of all kinds took a heavy
toll Of the net income of thu
Washington Gas Light Co. las
December and for the entire yea
of 1852.
The company's monthly report
today showed net income o.
$261, It's for December, a de.
crease of $49, 089 compared with
a year ago. Net for 1852 wa!
$1,353, 52l compared with ST..
333,074 in 1851, or a decrease Of
979,553 for the year.
December operating revenue:
increased $428,5 61 over Deem.
Der, 1851. However, operating
expenses were $428,56 higher
thereby producing net operating
revenues $43, $50 lower than dur.
ing December, 1851. Gross rev.
enues were $2,943, 725, operating
expenses were 81, 638, 400 and net
operating revenues were $305, 1926
Comparable figures for 1851 were
$2,558,844, $2,209,839 and $349,-
COS respectively. After adding
incorporating income and pro-
viding for income deductions, net
income for the month was $751;
ITS compared with $31O,264 in
December, 1851.
Operating Revenue Drops.
Net operating revenues for the
full year 1852 were $1,741 49,
compared with $2.139.119 fol
1851.
Consolidated figures previously
reported by the company for its
entire system. show net operat.
ing revenues of $685. 1856 for the
year 1852, compared with So, 449,.
DIG. Net income for the consoli.
dated system was 1881 ,671
compared with So, 432, 002 in 1851
decrease of 500, $3.50.
Gas sales for the system were
I2,575,327 therms for December
and 253,832,22 thermS for the
full year, increases Of 8 per cent
and Is per cent over 1851. Sales
70 District customers rose 3 pei
sent to 16,434,862 thermS in De.
sember and 6 per cent to 1885,
&c., 66 therms for the full year
Meters in service in the District
increased 2,038 in the IL months
10 a total Of 181, 675 at the enc
If the year.
Benefit Programs Studied.
The Governments vast net.
work of insurance, social vel
.are and related programs ope.
lated on a partially subsidized
oasis, Is costing the American
public more money annually
han all the fire or casualty
premiums taken in by private
firms, the United States Cham.
Der Of Commerce said today.
To support these benefit pro.
Erams, the Chamber of Com
nerce claimed, the Federal Gov.
srnment must take in IS billion
n special taxes and premiums
every year. Figures were pre-.
Iented in new study of Govern.
nent insurance business.
These collections, the survey
stated, have accumulated re-
serves or trust funds totalline
more than $50 billion-or about
one-tenth the national debt and
more than 20 per cent of the
assets of private life insurance
companies. The survey tended
to show that the Government
program is costing all citizens
money whether or not they hap
pen to be beneficial.
Some Of the Federal benefit
programs with insurance char.
acteriSticS are self sustaining
These include unemployment in.
Surance and the Federal Deposit
Insurance Corp. But Nationa
Service Life Insurance is heavil,
subsidized out Of the Treasury
the survey emphasizes, and thl
Government also pays the over.
head on crop insurance.
Programs Tend to Expand.
ut is this evidence of subsid,
In government programs which
tends to expand them into bust.
ness fields" the Chamber said.
Including National ServicC
Life Insurance, the most heav.
lily subsidized, the study founC
that government is involved il
II activities with characters.
tics relating them to insurance
These are: Marine and Aviation
war Risk Insurance, Old Ag,
and Survivors Insurance, Rail.
road Retirement, Civil Servic,
Retirement, Unemployment
Compensation, Federal Employ
eeS' Compensation, Federal Crol
Insurance, Commodity Credi
Insurance, Banks and other de-
poSitories, and loans and mort
cages.
With the exception of Marin,
and Aviation War Risk Insur'
ance and Civil Service Retire
ment, for which figures werI
not available, the Chambe
claimed that the administrative,
costs alone of these Government
insurance activities total approx
imately $371, TOO. 900 per year.
Bankers to Hear Wayne.
Edward A. Wayne, vice presi
dent of the Federal Reserve Ban
of Richmond will be CUES
speaker for District bankers o
February IS. The meeting
the winter session of the Fl
duciaries Section of the DiateiC
Bankers Association at tn
Burlington Hotel. at $3.50 pm
Wally .Enright, Arlingto
businessman, has announced tn
purchase of the Southern Elec
trio Co., 3400 Fairfax driv'
Arlington. The new firm
operating under the trade nam
Wally Enright's Tire & Ap
pliance Co., and the store
undergoing extensive remodel