The Washington herald., 1920-11-04
ROADS SUFFER.
/: HEAVY LOSSES
/ c. C.'s Estinaion Indicates Enor.
ness Rsverses During Last Six
Months Of Govt. Control.
HAYNES ADDRESSES A. l. B.
Bank President Delivers Interesting
Lecture Before Washington's
Elementary Class.

Government railroad losses for
the six months period from March
Il to September l totaled approxi-
mately ss55.OOo. 900, representing
the income guaranteed to the roads
under the transportation act, ac-
-cording to estimates made on fig
ures announced yesterday by the
Interstate Commerce Commission.
The railway operating deficit for
the month of August totaned sl4s.-
5s7.s02 against an income of Ss6,-
-1sl,S55 for the same period last
year, the commissions figures
showed. For the eight months
ended with August. the railway
operating deficit was estimated al
sIs24Ssl03 against earnings for
the eight months period last year
fof s34s,s23,sS1. Railway operating
Revenues for the month of August
were estimated at s554.7SS,S12 as
compared with s471,714,3I5 for
August orlast year. Railway oper-
ating expenses for August totalled
sS7S.T2S,SS2 against s35s,l4s,5S4 In
August Of last year.
Railroads in the eastern district
reported a deficit for August OF
s73,s54.S13, against earnings OF S42'-
956.sST for August of last year.
Generating revenues Of the eastern
roads were estimated at S252.676-2O2
against S2lS.3S3,515 for August OF
last year. Railway operating eH-
penses amounted to S5l7,641,6s2 In
August against S16S,ST4,6S9 for the
same period last year.
The net railway operating deficit
Of the Eastern roads for the eight
months ending in August amounted
10 sl5S,7O5,T17 against earnings of
sI2Sl6S.s37 for the corresponding
period Of last year. Operating reve-
nues of the Eastern roads for the
eight months period totalled sl,674'-
s25.342 against s1,476,563,s64 for the
same period of last year Expenses
totalled sI,T6O,sO3,212 for the period
compared with s1.29S,55S,717 for the
same period of last year.
Railway operating revenues Of all
railroads for the eight months period
totailed s3,S22, ,S2S.663 against S3,2S3,-
165.723. while expenses totalled 49,
T63,577,S47 against s2.S0S,1S2,0S2 for
the same period of last year.
Railroads in the Southern district
reported e deficit for August of sl2,-
414,653 against earnings of S7.6ll.314
for August of last year. Operating
revenues of the Southern carriers to-
tailed s65,SO2,932 in August against
s53.5s3,6S2 in August of last year.
Operating expenses tOtalled S75,439,-
1l2 against s43,977,5OO in August OF
last year. For the eight months
ending in August, the Southern car
riers reported a net operating in
cpme of SS.5S6.115 against S32.262.-
SS5 for the same period of last year.
The International Finance CorpO-
ration. with offices in the National
Metropolitan Bank Building. has
HaiIea their first dividend checks
calling for 9 per cent on preferred
stock payable to stockholders of
record November /, it was ascer-
tanned yesterday
At the weekly meeting OF the ex-
ecutive committee of the Washing
ton Railway and Electric Company.
held yesterday afternoon at the COM
pany's offices, nothing but routine
matters came up for discussion.
rank . ftSTUQdn. tdSnltT OI MeT-
chants Bank. is at present out OF
town on his honeymoon.
Harry V Haynes, president of
Farmers & Mechanics National Bank
Of Georgetown. last night addressed
the elementary class of Washington
Chapter, American Institute Of Bank
ing
Mr. Haynes chose as his subject
Drafts md AcceptnCeas." describing
in detail neEotiability Of same: es-
sential wording: transfer: parties to
and their order Of liability: kinds;
hank acceptances. trade acceptanCes
end rediscOunt features.
The steamship Olympic has arrived
from Southampton with 4S2 boxes OF
gold OF the total consignment. 33+
boxes "f bar gold and one box OF
assay is consigned to the Federal
Reserve Bank of New York bv the
Bank Of England. while the remain
trE ~ boxes OF her gold are con-
,'Enrd to j. J.. Morgan & Company
Joy N, Bark Of England.
Tn" value OF the total shipment is
'.stimatcd at S1L3iO.O 900. about 50
10000 Of which is for the Federal
Reserve Bank