Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-03-01
?. R. R. HAS BIG DEFICIT
! FOR MONTH OF January
By I. A FLEMING.

&A~A~>~e>>s
Pennsylvania shareholders have rea-
BON for q modicum Of satisfaction In
the fact that the government is oper-
ating the property and guaranteeing
the charges, for the January statement
of the great system, the model rail-
road of the world" shows an average
operating deficit of $5.s4o.s47. as COM
pared with operating income for Janu-
airy. 1917. of s5,132,4Ss.
Gross operating revenues decreased
$4.328,7s7. and expenses jumped s6.744.-
61s
The largest loss of revenue was on
lines. west of Pittsburgh, and the
heaviest increase In expenses on the
lines east of that center. which would
indicate that efforts had be- made to
push business in the east.
January was a bad month for rail-
roads, freight congestion, coal short
age, freezing weather, snow and ice,
all contributing. while sidetracking Of
much business to give right of way to
fuel and food was also an expensive
proposition.
Bonding Washington Venture.
A New York Chicago bond house is
offering a block of $325.o00 s. per cent
FIRST mortgage bonds on a twelve
story office building, the Hurley
Wright building, and land, the build
ing now being under construction at
Pennsylvania avenue II and 18th
streets northwest. for Maj. P. j. Hur-
ley. Gabriel N. Wright and w. o.
Dckerson. Bonds mature in blocks an
nually from 1920 to 1928, and are re-
deemable at 102.
The Next Bond Issue.
Dow, Jones & Co. of New York sent
the following dispatch. under date of
March 1, to customers:
with a practical confirmation of the
TACT that the next and third liberty
loan will bear A per cent interest,
banking circles have turned to -speca--
its probable date. Provisions to be
laid down by the Treasury Depart
ment are now the all-important con-
sideration. 1t is assumed that the
perhaps not until later: It is also
considered likely that the loan will
be issued for not more than i've years,
and it is not at all improbable that 1t
may run for not more than three years.
The short-term feature of the loan. 1t
is believed, will prove an attractive
factor in making the loan popular, as
notifications in the taxable provisions
are.not likely to do Banking circles,
furthermore. are convinced that the
bonds of the second liberty loan will
be convertible into the third loan, al
-
gated to this policy
Personal Mention.
William B. Hibbs who has been in
New York for week. returned this
morning. He found call money rather
scarce. bankers generally preparing for
the next liberty loan and the prelimi-
nary government financing via Treas
ury certificates.
They Do and They Do Not.
Local bankers do and they do not en-
force the 5o-cent charge against ac-
counts with balances under 500. As a
rule they suit themselves. according to
the standing Of the depositor and the
prospect for the account becoming
worth while.
A bank Official strongly In favor Of
the adoption of the resolution to make
a charge on non-proftable accounts,
has served notice that, mo charge will
be made except on worthless accounts"
declining to make hard and fast rule
because other institutions are not do
ing 1t.
On, the Local Stock Exchange.
A moderate business, In the asgre-
gate. was transacted on the local stock
exchange today.
Capital Traction was frmer with a
sale OF a quotation lot at 50; while q
little Railway preferred brought 67A.
Second National Bank shares sold at
40 and an odd lot of Farmers and
Mechanics National at 235.