Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1917-12-26
W.,B.&A.L|NE
BEST YEAR IN HISTORY
Surplus For IL Months Equal to IL
Per Cent. on Common stock
AND F0e LAST QUARTER
At Rate Of rs PEI. r.Cent. Camp Ieade
Big Help-EnOsmOus Passenger
Traffic.

lfaKIic.
In these days when public utility
| companies are hard pressed for funds
and their managements are petition
ing the Public Service Commissions
throughout the country for permis-
sion to advance rates, it is refresh
ing to read of an enterprise of that
character right here at home which
is realizing the greatest prosperity in
its history.
The Washington, Baltimore and An
napolis Electric Railroad is the COM
pany to which reference is made A
better idea of what this system is do
ing may be formed when it is stated
that in the current calendar year,
which is also the Company's fiscal
year, interest on the $5,144,000 bonds
will be earned at least three times
over; dividend on the $1.455. .750 pre-
ferred stock will be earned five times
over, while the balance applicable to
dividend on the $3,000,000 common
stock will equal 12 per cent on that
issue.
Surplus earnings for the closing
quarter of the year are at the rate
Of 26 per cent on the common capi-
.aliZation
Camp Meade Big Help.
This showing has been made pos
sible by the location of Camp Meade
at Admiral Station, which is reached
by spur connecting with the main
line, and normal growth in traffic.
Thousands of soldiers are receiving
their initial training at Camp Meade
and every day thousands of visitors
make their way to the camp. Prob
ably 95 per cent of the visitors make
the trip by the electric railroad. and
practically all of the soldiers use this
line to reach Baltimore, Washington,
Annapolis and the surrounding coun-
try.
rSet .snerss h-ss nn~nonsser tranae tn-
creased enormously, but freight also
is a prolific source of revenue. Both
passenger and freight business is ex-
pected to increase heavily from now
on because of the curtailment Of
service on the steam railroads. The
outlook for increased business be-
tween Baltimore and Washington and
Annapolis is especially encouraging
because of the inability of the rail
roads to meet the demands on ac-
count of their equipment being so ex-
tensively used for government needs.
The management expects to hold at
least so per cent of the business it
has taken from the railroads and to
obtain a much larger percentage of
new business after peace is restored.
GTOSs Revenue 80 Per cent Larger.
For the 12-month period, ending on
December 81, gross revenue promises
to reach $1,500,000, or more than so
per cent in excess of revenue for
1916.
This is a remarkable showing, but
IL simply bears ou the Judgment of
President Bishop and Vice-President
Doyle, who have insisted for years
that if given an opportunity the sys-
tenn would demonstrate its earning
power, and the fact that it could ade-
quately serve the public. The oppor-
tunity is here and the management
is making the best use of it.
In this connection it may not be
amiss to call attention to the fact
that net profits for the current year
will approximate 100000. This is
over four times net profits in 1912.
This estimate is after deducting ex-
cess profit taxes.
Enormous Passenger Traffic.
The Company has paid dividends at
the rate of G per cent on its preferred
stock since 1912. An initial dividend
of 8 per cent was paid on the COM
mon stock on October 81 last, and
another dividend of similar amount
has been ordered paid on this issue
of stock on January Is next out OF
earnings of this year. While neither
common dividend was specified for
any period it is assumed that the
Company will pay quarterly DIVIDENDS
of {. per cent regularly.
Some idea of the extent of the
company's business may be formed
when it is stated that the number OF
passengers handled monthly approx
inates half million. or two and q
half times the number handled in
1912. Freight business has jumped
from $4,000 in 1911 to approximate
" $50. 900 in 1917, gain of 225 per
cent
The United States Government Is
building the strongest wireless sta
tion in the world near Annapolis.
The W.. B. & A. is building the power
ulant for this station and will fur
nish the current when the wireless is