The Washington times., 1912-11-10
IN LOCAL FINANCIAL CIRCLES
BY GEOPGE H. GALL.

Washington Railway and Electric Com
pany, however, Is already In hand that
there seems to be no possibility OF a
change OF schedule unless the Corpora
ton Counsel Of the District and the
Attorney General find some basis for
Interference.
1t is difficult to see wherein there
can be any objection to the use of tho
proposed relation of the Washington
Utilities Company to the various cor
porations. whose securities II has ac-
CURED and proposes to acquire.
Economies In operation have already
been put In force, and other economies
In operation when the merger is ex-
tended are frankly planned. For in
stance. one important economy effected
already Is the discontinuance of opera
tlon Of the power plant of the Wash
ington-Virginia Railway Company and
the use Of power from the great plant
OF the Potomac Electric Power Com
pany.
What is the use OF operating tho
power plant of the Capital Traction
Company when all the power necessary
for all OF the street railway lines OF the
District can be supplied by the Potomac
Electric Power Company's plant?" asks
one of those chiefly interested in the
Utilities Company.
This sort of argument undoubtedly
to the Capital Traction Company with
view to showing the desirability Of
that companys acquiescence in the plan
OF the washington Utilities Company.
duction is only one of the many econo-
mics which could be effected by the
common ownership of all OF the street
railway lines In the District.
frankly held out by those interested in
the Utilities Company as one of the
features desirable from the public
standp9int OF the proposed common
In hA
method this company would not be
/ merged In effect, the result would un-
doubtedly be the same.
Eugene Z. Thompson. of Crane, Par
tbs &c Co.. left the city today with a
party OF Eastern bankers and represen-
tatives OF bond house, for a tour Of
inspection OF properties whose securi-
yes are being marketed BY William
salomon & CO. of New York and Chi
cago. The trip will include ST. Louis,
New Orleans. and Texas points The
properties OF the st. Louis, New Or
leans. and San Francisco railroad and
New Orleans. Texas and Mexico division
/ OF that system will be inspected
| Railroads in the South appear to have
had a poor month in September. This
! is worthy OF note in view of the fact
that transportation companies in all
| other sections OF the country not only
| iNpoil tAtitihtly gains over
year ago. but are also doing the larg-
| est business In their history There are
| southern lines In the early part of the
| southern lines in the cary part Of the
| fiscal year in respect to gross revenues,
| but the inability OF the companies TO
| keep their expenses down in proportion
to the small gains In gross is causing
| comment.
| The failure OF gross revenues on
! Southern roads 20 respond to the gem
, orally prosperous business and heavy
traffic conditions prevailing throughout
| the country Is because of the unusual
| lateness of this years cotton crop and
also because "A new law in the South
prevents the shipments of fruit before
1t IL ripe. These commodities make up
a large bulk of Southern railroad traf-
fic, and the heavy movement Is there
| fore necessarily about a month behind
| normal. The Southern Railway Com
| pany stands as an exception. 1t re-
ported increases in gross and net for
both september and the three months,
| although none of the gains was of sub
stantial proportions. In September that
company reported an increase OF sl2i 90
I'm gross and one OF only 5000 in net.
| For the three months the gross in
crease was $l,157,000. but only $4,000
OF this gain reached the net In this
period the company increased mainte-
nance expenditures $4,000.