The Washington herald., 1922-07-11
Elm a N CIAL
WASHINGTON RAPID
TRANSIT OPERATES
AT L OSS IN JUNE
Suffers Deficit of 81, ,020 in
Contrast With $1,265
! Gain in May.

The Washington Rapid Transit
Company suffered a net corporate
loss of 5000 during the month OF
June, 1922, according to statement
of earnings filed with the Public
Utilties Commission yesterday. Thi
compares with a gain OF s1,265 for
the previous month, and with a
PRONG of s55 for the same month of
last, year when the company was
just Beginning to function.
Operating expenses during the pc
riod amounted to $27.797 during the
period. while operating revenues to-
tailed s27,l71. New lines running to
She sidan circle. and a Massachu-
setts avenue line. which are not yet
on a. paying basis, Is held respons-
ible, for the net loss shown.
Local Securities.
Ths Washington stock Exchange
presented a listless affair yester-
day. Only small sales were INDUCED
in. together with an unusually light
volume OF trading. A sale Of FIVE
shares of Riggs National Bank
stock at $50 was the only note
worthy occurrence.
- Loan on Texas Cotton.
The War Finance Corporation
yesterday approved an advance of
s9.0eo.0O0 to the Texas Cotton Mar
ket Trade Association for the pur-
pose of financing the orderly mar
keting of cotton. The corporation.
however, does not expect to ad-
vance any material part of the loan.
the . statement said, the banks in
the interested districts supplying
the major portion of the above
sum
Improvement In Basic Industries.
Indication of further improve
ment IN basic industries is found in
the United States Steel Corpora
tion's report on untitled orders for
June 80. made public yesterday.
The report shows a gain Of $4,000
tons over May 81, and of $4,000
tons over April 80 The total I'M
filled. orders on June 80 amounted
to sS35.00O tons, compared with
s,11ss0O on the corresponding date
in 1ef1. Z
WHALE these figures appear small
wheh compared with those of the
same date two years ago, when the
unified tonnage stood at l0.57S.0O0.
they, nevertheless, reveal a sub
stantial recovery since the low
point of$4.141.0O0 tons was reached
on Feoruary IS or tulS year.
Savings in France.
The thrift Of the French people
has been a national characteristic
for centuries and has been accentu-
ated rather than otherwise by the
world war, Consul Westcott yester-
day reported to the Department of
Commerce.
On January l. 1914. there were
15,066,00O savings banks accounts
in France. Mr.. Westcott said, ag-
gregating 5.S29.OOO, 900 francs On
January l. 1921. the number of sepa-
rate accounts had increased to 15,-
73s,OO0. and the deposits to S.149.-
100000 francs. a gain Of 2.320.OOy.
900 in the amount of deposits. In
1918 the maximum deposit for any
individual was limited by law to
1900 francs, but since the war the
limit has been raised to 5000.
The population of France, ac-
cording to the census Of 1921, in
cluding Alsace-Lorr1ine and AL
geria, numbered $4,000. .OCO. 1t thus
appears that nearly every second
person in France had a savings
bank account. The economic ad-
vantages of thrift are taught as e
part of the regular curriculum in
all French schools. and it is the
custom of parents wherever posF-
BILE to open savings accounts for
children.