A new article has been added at Newspaper Abstracts > United States > District of Columbia http://www.newspaperabstracts.com/index.php?action=displaycat&catid=323 Direct link to article: http://www.newspaperabstracts.com/link.php?id=34574 Submitted by: barbara-dave Article Title: Washington Post Article Date: February 5 1924 Article Description: Financial News Page 11 Article Text: Washington Post February 5, 1924 Financial News Page 11 WASHINGTON GAS CO. REPORTS GOOD YEAR 1923 Earnings Total $556,371, $22,793 in Excess of 1922 Figure. SERVICE ALSO EXTENDED By MORRIS H. GLAZER. Net earnings of the Washington Gas Light Company last year amounted to $556,371, according to the annual report submitted yesterday to the stockholders. Operating revenues amounted to $4,889,104, against operating expenses of $3,543,032. The total gas sold for the year was 5,084,641,398 cubic feet, an increase over the previous year of 283,488,155 cubic feet. The total net revenues for the year were $1,389,199. After deducting taxes and other income, there remained a gross corporate income of $1,126,918, an increase of $l65,233 over 1922. The interest deductions, amortization of debt discount and expense and other deductions from gross corporate income were $570,546, an increase of $142,440 over the preceding year, due chiefly to the interest on the new 6 per cent bonds. After paying dividends, there was carried to surplus $88,371. A comparison of the earnings of the company in the last ten years indicates a turn toward the peak year, 1921. Since 1914, the number of meters in use have increased from 64,758 to 86,133. Following are the net earnings for the last ten years, with the dividends paid in each year: [year-earnings-dividends] 1914-$559,129-$624,000; 1915-680,908-624,000; 1916-665,983-624,000; 1917-435,792-585,000; 1918-251,190-468,000; 1919-326,663-468,000; 1920-260,917-468,000; 1921-772,230-468,000; 1922-533,578-468,000; 1923-556,371-468,000. The directors were reelected as follows: Howard S. REESIDE, Ord PRESTON, Guy F. WHITING, Joseph LEITER, James M. GREEN, Robert D. WEAVER and John D. McILHENNY. Proxies representing 94,450 shares were voted at the meeting. Buys Seat on Exchange. Albert P. MADEIRA, a member John L. Edwards & Co., yesterday was elected a member of the Washington Stock Exchange. Mr. MADEIRA took over the seat held by the HURT estate. Trading on the exchange revealed a firm tone on the price list. Potomac Electric 6s sold at 103, a new high record, while Lanston Monotype stock struck a new high for the year. Twenty-five shares of District National Bank stock changed hands at 161 1/8 to 161. Street railway stocks were steady. The court of appeals, which was expected yesterday to hand down a decision in the Washington Market Company case, adjourned early as a tribute to Woodrow Wilson. The decision is expected today. ~ ~ ~ ~ ~ ~ ~ DC-Old-News ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ NewspaperAbstracts.com - Finding our ancestors in the news! TM http://www.NewspaperAbstracts.com