The Washington times., 1914-01-17
RAIL WAY COMPANY
INCOME INCREASES
Washington Railway and EIec-
trio and Subsidiaries Hold
Annual Meetings.

The surplus OF the washington Rail-
way and Electric Company, January l
was greater by SSO.S49.OO than it was a
year prior to that date. This is the
showing of the annual report to the
stockholders at the annual meeting this
afternoon. The surplus January l, 1914.
was $l,1l3,365.O5, as compared with
81, ,VS2, ,5l6.O5 at the end of the year 1912.
Gross receipts increased S291, ,975.4S, and
net receipts increased Sl50227.69. The
surplus income for dividends and special
cnargeS was 81, l06st49.65, an increase Oh
$lSU,9lU.l9. Out of it were paid . per
cent dividends on the preferred $425,
and 612 per cent on the common, S422,JOO'
a total of SS47,5e0 in dividends. operating
expenses and taxes increased $l4l, I4i.Is.
There were shares off, to conductors
and motormen under the. profit-shar-
ing plan, depreciation on equipment,
abandoned tracks Glen Echo, sinking
fund, and other items, a total of S22S,-
300.c5. OF this, $93, $40 was in sinking
fund requirements for the Potomac
Electric Power Company.
The annual meetings of the subsidiary
companies were also held an dali the
ofllcerc and directors were reelected
Without change.
The days business on the local stock
exchange was meager amounting only
To 5000 in bonds and IS shares of stock.
There was no feature.
Changes have been made in the Off
GERS OF both the District and Washing
ing their annual meetings. The officers
of the former have been elected as fol-
lows: E. L. Schmidt, president, Fred
Mckee and Arthur G. Bishop, vice
presidents, and A. II. Lawson, secretary.
The officers of the Washington Title In
he NJ
the District with the addition of George
II. O'Connor, vice president
Indications that the pendulum Of busi-
ness Is on the upward swing are given
today in the reports of the mercantile
agencies. A significant feature of the
Improvement is the revival of activity
in commercial paper and a betterment
In the monetary outlook.
r. G. Dun & Co.'S review today says
in part as follows:
Changes in business conditions have
been mainly in the direction of improve
ment and confidence is further strength
ened. The first real cold snap OF the
winter was decidedly favorable to those
branches OF retail trade largely de-
pendent upon the weather, while the de-
mand for fuel was also accelerated by
the exceedingly low temperatures. 4
significant feature is the revival of ac-
tivity in commercial paper, merchants
provide for their requirements at cor
siderably easier terms than heretofore.
This development obviously reflects the
betterment in the local monetary out
look. The usual statistics of trade
movements are not wholly favorable;
banks clearings this week were 81 per
cent less than last year and 80 per cent
smaller than in 1912, while gross rail-
road earnings for the first week of
January showed a loss of 81 per cent
as compared with year ago"
Bradstreet's review says in part as
follows:
Improvement is the keynote of this
weeks dispatches. Foremost in the
budget of news is the better state of
employment incident to the resumption
of operations in plants that had closed
down over the holidays.
Winter wheat crop reports are aus
picious; in the Southwest pasture grass
is plentiful, and in the South prepara-
tons are being made for a larger cot
ton acreage.
Improvement in demand for iron and
steel, increased specifications and more
activity and better employment in the
are evidenced by the weeks re-
port
Reports respecting railway earnings
for the month of November are rather
Thus, gross receipts aggre-
gated $266, ,207,575. a decline Of &c per
cent from November of 1912, and net
revenue, S72.672,453 fell 16.1 per cent,
the heaviest ratio of loss noted in many
Business failures for the week ending
January Is were Alb. which compares
with 4O6 last week, 343 in the last week
Of 1913, 361 in 1912, 3O2 in 1911, and
275 in 1910"