Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-04-01
INCREASES TRAFFIC
ON STREET RAILWAYS
Presidents Of Both Local Corpora
tons Report Larger Receipts De-
spite the March Strike.
Stronger Tone in Shares-Lanston
Also Firmer-Park Savings on
Dividend Basis.
BY I. A. FLEMING.

street railway companies will find
cause for encouragement in statements
made by both President King of the
Washington Railway and Electric
Company and President Hamilton of
the Capital Traction company, that the
earnings from passenger traffic this
year are ahead of last years. and that
during the month of March. despite the
fact that some revenue was lost
through the short strike. the passen-
ger returns were larger than in March
1915.
Usually March is a bad month for
street railways and increased revenue
during that period is nearly unknown
In the traffic.
With the checks for their quarterly
dividends. sent out yesterday by the
Capital Traction company. sharehold-
ers received letter from George h.
Hamilton. president. in which he said
In the annual report of the board of
directors to the stockholders of the
Capital Traction company for the year
ending 1918 il was stated:
The Improvement in business condi-
lions which began to be felt in the late
summer. and the practical elimination
Of jitney competition. which quickly
followed the announcement of the pub
lie utilities commission OF its purpose
to regulate such carriers, n.ousm d =,
the last four months of 1915 registered
material gains in passenger receipts
over the corresponding period or l9l4.
THE improving conditions then noted
have since been continued. While FOR
several days the traffic on all or our
lines was seriously interrupted by the
strike Of March o., our receipts for
March we're larger than for the CORE
spending month of last year
President Clarence F. King of the
Washington Railway Company. in an
interview. called attention to an IN
crease of several thousands of dollars
in the receipts Of the company from
passenger traffic, unusual and excep-
tional for the month Of March.
1t il evident from these reports that
the elimination of the "jitney" as a
factor in competition with the street
railway lines has resulted in satisfac-
tory increases in traffic returns.
Park Savings Dividend.
The Park Savings Bank has Joined
the list OF dividend payers. checks for
the first payment being received by
shareholders this morning. The initial
payment is III per cent semi-annually.
placing the shares on per cent basis.
The policy of the president and the di
rectors of the Park Savings Bank has
been to build up strong bank before
entering the dividendpayi class. 1t
was organized October, 1909
Local Securities.
While there was comparatively little
business transacted on the local stock
exchange, a better trend was shown on
4 number of securities. Capital Trac-
ton was plainly hrmer and the bid
price was raised p of a point to asa,
and lone share sold at ssh, while
the stock was offered at SIS.
Lanston was also firmer with sales of
forty shares in all at ia and TX
Mergenthaler was quiet with an odd lot
at 164.
Bonds were rather quiet. Sales were
made at 1861 for Washington Gas 5s.
100 for Potomac Consolidated IS and
1o4 for Metropolitan Railroad 5s, the
latter being an unusual sale.
Heavy Payments.
Disbursements for which checks were
sent out to shareholders and owners
Of bonds and on other accounts today
probably totaIed over 100000. Prob
aHy $4,000 more Will re distributed
during the remainder of the month
Condition Of the Treasury.
The condition OF the United States
Treasury yesterday was. Net balance
in general fund. 3lg4.924.0SI total re-
ceipts, s2,43o52t total payments, 81
7o6.936.
The deficit this fiscal year is $40, 63l
SA against deficit Of ssS 1o3. s71 last
year. exclusive of Panama canal and
public debt transactions.