The Washington herald., 1922-04-07
FINANCIAL
WASHINGTON RAPID
TRANSIT EARNINGS
S,Al LAST MONTH
Gain Results From Eight
Additional Buses in
Operation.

The Washington Papid Transit
Company came TO the front with q
splurge during the. month OF March,
1922, reporting a net corporate in
come of S3,441, which Is more than
three times the amount received
during any previous month. For
the month of February. the bus
line reported a net corporate in
come Of s977.72 and s742.31 for the
previous month.
Eight additional buses. making
a total of twenty-three operated
during the period, was mainly re-
sponsible for the huge increase in
earnings. However, this entire
contingent Of twenty-three vehicles
was also operated during eight
days of February when earnings
amounted to only s97T.72-
Total revenue from transporta-
tion for the period in question
amounted to s21,s1s.44 as against
! s14.350-34 for the previous month.
Total operating expenses amounted
to S1s,6O3.71, and the net operating
revenue to $3.439.39. Discounts
earned amounted to $3.50 with In
terest deductions aggregating
S3646. other deductions amounted
to SCOTS.
During the month a total of, gill;
1872 passengers were carried as
compared with 176.3O7 for the pre-
vious month.
MergenthaIer Linotype.
In response to an investors
query. the Magazine of Wall street
has the following to say regarding
the above security.
''Mergenthaler Linotype Com
pany has an excellent record over
a long period of years. 1t has
shown a remarkably consistent
earning power. In the past ten
years, earnings have averaged
1916 per cent and the lowest earn
ings reported was in 1918 when
1919 was earned. For the year
ended SEPTEMBER 80. 1921. 1907 was
earned.
The war adversely affected the
earnings of this company as it's for
eign business was greatly cut down
as a result. This is beginning TO
come back now and should have q
favorable effect on earnings. As
regards domestic business the COM
pany is assured of a more or less
steady income as It stands practi-
cally alone in its field.
The balance sheet as of Septem-
Der 80, 1891. shows a working capt.
tai of about $1,000, 900. This COM
S12SoO. 900 stock, par value 800
Bills receivable were s6.59O.714. ac-
counts receivable S3.S67.504 and in
yentories s5.263,46O. and the COM
pany was a borrower at the banks
to the extent of $4612.5OO. As bills
receivable and inventories are grad
ually liquidated these bank loans
will automatically be reduced, but
this may take a little time, and for
this reason il is not likely that there
will be any immediate increase In
the. dividend. This. in our opinion
is only a temporary state of affairs
and stockholders are justified in be-
lieving that in the future the COM
pany will be able to make more
generous payments to stockholders
as it has in the past
Guaranty Savings Bank.
For some time stock of the pro-
posed Guaranty Savings Bank has
been offered in this city. but so far
there has been no official announce
ment regarding when it will open
or Of its official roster.
1t is understood that the pro-
posed capital Of the proposed bank
is to be 100000 put out at s12O. so
as to create a surplus of 100000.
A considerable amount of stock has
been placed. according to the best
information available.
In connection with the venture,
the following Westinghouse are
named as shareholders: Bert L.
Olmstead. r. S. White. Fred ]. Blue
Arthur Copeland. E. P. Hinkle and
J. Clinton Hiatt.
The building No. 1921 Fourteenth
street northwest. has been pur-
chased by the promoters at price
said to be $4,000. and 100000 will
be spent in remOdeling. The pro-
posed banks charter is granted by
the State of Arizona.