Evening star. [volume] (Washington, D.C.) 1854-1972, 1955-08-01
Gas Light Income Rises,
Per Share Earnings Drop

Per Share e.
The Washington Gas Light
Co. informed stockholders today
It's net income for the IL months
ending June 80 amounted to S.
725,000, an increase of $780,, 900
over the net for the preceding
12-month period. Earnings avail
able for the common stock
amounted to $2.78 a share on
the 1882. 1886 shares outstanding.
against 1922 a share on the
958.301 shares outstanding June
80. 1854.
The company's income state
ment showed net operating rev.
enues of $5,213.845 against $4,-
982,325 in the preceding IL
month period.
President Everett j. Boothby
informed stockholders that the
last So million of outstanding
2 per cent notes, issued to
finance conversion to straight
natural gas in l946-47, were re-
tired July /. The company at
present has no outstanding bank
loans, he said.
Mr.. Boothby also said that in
the search for a natural under
ground gas storage area in
nearby Maryland. the eighth
deep exploratory well has been
drilled. He said there are con-
tinued indications that a suit
able underground storage area
can be developed.
New Equipment Delivered
The first 100000 worth OF
truck-trailers has been delivered
to B & F Transportation. Inc,
Washington trucking company
The units are part of an order for
Al truck -trailers, placed by the
company with Trailmobile, Inc.
through that company's Balti-
more branch.
Morris Fox. president Of B &
F, said the new units will replace
all van-type trailers in the feet.
Louis Brodsky. treasurer and OPP
erations manager, said moderni-
cation Of the feet will make ex-
pansion of service operations pos
sihle.
The order for new equipment
includes II mechanically refrig-
Grated units, 20 tandem-axle
semi insulated vans and 10 sim
gle-axle semi-insulated vans. It
also was announced that the B
g. F company is negotiating for
special trailers to transport bulk
sugar.
Sheraton Hotel Loan
ARRANGEMENTS have been COM
pleted for a Sc million first
mortgage loan on the Sheraton
Park and the Sheraton Carlton
Hotels in Washington. it was
announced today.
Brooks, Harvey g. Co., New
York brokerage firm, said the
loan has been placed with the
Massachusetts Mutual Life In
surance Co. The Shannon &
Luchs Co. is Washington loan
correspondent for the insurance
company.
The new loan is a refinancing
of a mortgage of about So mil
lion on the two properties. That
loan had been held by Massa-
chusetts Mutual and two other
concerns. The Sc million loan is
at ~ per cent interest and
runs for 90 years.
The Sheraton Park Hotel has
Its rooms and the Sheraton
Carlton has $50. The Sheraton
Corp. of America. which ac-
quired the hotels and other
buildings from the Washington
Properties Corp. has made i'm
provements at the two hotels
At the Sheraton-Park the i'm
provements have included air
conditioning, the construction OF
a ball room accommodating
5000 persons and an exhibit
hall. the installation of a new
cocktail lounge and coffee shop
New Insurance Service
Victor o. Schinnerer & Co.,
Inc, Of Washington and 40
other insurance brokerage firms
announced today the formation
Of the Insurance Service Asso-
citation Of America. Through the
new associations the Arms will
exchange facilities and services
on a continent-wide basis.
The Schinnerer company said
the association members will be
able to provide better service in
the field Of commercial and
business insurance, particularly
in risk analysis. rate and safety
engineering, claims and local.
lied personal service.
Frank Coffin. association presi-
dent, said at Chicago. The basic
purpose Of the organization Il
to place each member in better
competitive position in servicine
national accounts"
Cashiers Retire
The retirement of George H
Bright and c. Louis Eckloff. as
sistant cashiers of the National
Metropolitan Bank. was an
nounced today by President C. F