The Washington times., 1914-01-14
TRACTION
EARNINGS INCREASE
Annual Report Shows Improve
ment-Board of Directors Is
Reelected.

Capital Traction earnings for the past
calendar year show an increase OF $43,-
921.04 over those FOR 1912, according to
| annual report submitted at the annual
meeting Of. of.stockholders of the company
today. Operating expenses, fixed charges
and depreciation show an increase OF
SSS, ,O42-S7, making a net increase OF
$lO,S7S17.
Since the beginning Of the year the
company has set aside 21a per cent of its
total receipts from operation each month
tor the depreciation reserve fund.
The entire board of directors was
reelected.
year amounted to S2,Sio. .f65.S7. Gross
income, less operating expenses, was
$1,143, 1914. The net income, after
deducting taxes, S11S.197.o5; special
police tax, $lS,362.20, and interest,
$2S3,61s.a3 was sT2S,00S.s6. Of this,
S720,000 was paid in dividends. leav-
ing a surplus for the year of sS,-
003 Sc. The surplus at the beginning
OF the year was 37S.S9S.19, and at
the close Of the year $32.023.37.
Concerning improvements the report
Five new suburban type pay-within
cars few the Chevy Chase division were
purchased, and put In service during the
months of November and December.
The conversion OF thirty semi-con-
vertible cars to the pay-within type, be-
gun DUNG the year 1912, has been fully
completed; and thirteen closed and nine
open type cars have been equipped with
overhead trolleys for operation on the
Chevy Chase line, made necessary in
the establishment Of added through ser
vice on that line between Chevy Chase
Lake and the Seventh street barn
The equipment Of all city cars with
air brakes, begun in the fall of 1912,
was completed October l, 1913.
The rolling stock Is, and is main
tanned. In a good condition and repair.
The principal track work during
the year was the rebuilding of both
tracks on Pennsylvania avenue, be-
tween Ninth and Fifteenth streets
n1rthwsst the ea TesiiEnmeqt rsst Of nrS t5sfk
west, and the installation of two
switches and connecting curve at
First and B streets southeast In order
to provide way for the Fourteenth
street cars to pass the House Office
Building on the south side of the Cap
itoL
"A small addition was made to the
Chevy Chase car barn. The tracks,
power plants, substations, and build
ings of the company have been kept
in god repair and their efficiency
maintained by a small outlay"
Stockholders Of the Security Savings
and Commercial Bank Tuesday elected
directors as follows: John II. Carter.
Charles w. Darr, Louis A. Dent, d. A
Edwards, ]. Thilman Hendrick, George
H. Judd, James A. Flynn, Julius I. Pey-
ser, A. D, Prince, George R Linklns,
Charles ]. Langmead, William II. Lin
kins, Fred Mckee, and Townley A. Nc
Kee.
The following officers were chosen:
President, Julius I. Peyser; vice presi-
dent, George R. Linkins; second vice
president, Fred Mckee; cashier, John
II. BaItz; assistant cashier, william r.
Baum. and general counsel, Charles w.
Darr.
Officers and directors Of the Home
Building Association were elected Tues
day evening as follows: President, r.
E. Claughton; vice president, Anson $.
Taylor: second vice president, W. T.
Galliher: secretary, James III. Wood
ward, and treasurer, E. s. Wescott; Gi-
rectors, George w. Linkins. Charles n.
Moore, William K Reeve, J. Paul
Smith. Fred L. Vogt, and Madison
Whipple.
The Bell telephone system in :he
United States reports its earnings for
the eleven months ended November 80,
1913, as S197, 7,452, ,13S, as against figures for
the year previous, ended November %,
1912, at S1Sl, Al. .0SS.
Following is the report of the system: