Evening star., 1922-07-01
CAPITAL TRACTION
AFFAIRS REVIEWED
President Hamilton Com.
ments on Conditions and
Prospects.
BY 1. A. FLEMING.

George E. Hamilton, president of the
Capital Traction Company, discusses the
affairs of that corporation in a circular
letter which was mailed yesterday to
shareholders with their dividend checks
for the second quarter of 1922.
With the circular was received a
booklet THE Truth About Electric Rail-
ways" decidedly interesting and in
cluding discussion Of the problems Of
the day of electric railways, inclusive Of
the busses. municipal operation, water
stocks. operating costs, fares and other
matter.
Asking and answering the question,
will busses take the place of electric
carr? the publication says, "Busses
may find permanent place as feeders
OF electric railways, but they never can
take their place AS a cleaner of light
traffic it has been successful, but as a
harvester of crowds it fails"
Numerous cases of failure of unre-
attention called to the elimination of
the jitneys in Detroit following munich
pal ownership.
Electric railways now need almost a
billion dollars for extensions that should
have been made during the war, but
~
ing money.
Reference is made to cheap fares
in foreign countries, with the state
ment that the zone system in effect,
makes short distances much cheaper
than on American railways, but that
long hauls are two, three and four
times as expensive as on our sys-
TENS.
Net Earnings.
moderate reduction in gross earnings
OF the Capital Traction Company, due
entirely to the reduction in the rate
Of fares.
This decrease has been met in part
by reduction in operating costs and
taxes, leaving net income amply
sufficient for the payment of the
dividend and for a substantial addi-
tion to the reserve.
The extension of the companys
tracks and service across the new
Georgetown bridge, the removal of
center poles from Connecticut ave-
nue. ana substituting poles at curb
and span wire construction from Cal
vert street bridge to Cleveland Park,
and the lease of the kensington rail-
way, from Chevy Chase to the town
or hensington, are matters pending
but not concluded.
With regard to these several con-
sire to serve the public good and to
safeguard the interests of the COM
pany.'
business Is Better.
The general industrial situation
has improved until the amount of un-
employment during the past month
mas been comparatively small. The
iron and steel industry has been oper-
ating at above IS per cent of nominal
c h
cally full employment for available
labor. Reports from the southern iron
centers have told of the recruiting OF
negro labor by agents from the north.
The cement industry has been GO
ing full speed, sustained by the large
amount of highway building under
way, and the latter of itself has called
for large supply of labor.
The amount of house building in
progress has kept the building trades
and building material trades well en-
ployed. The lumber industry on the
paeiflc coast is above normal, and the
southern Associations report is
about normal. In Detroit the labor
situation in the last three months has
approached conditions at the height
of the boom. The output of automo-
biles and trucks in May made it the
banner month for the industry. 1t is
Interesting TO note that the great
bulk of the automobile business is in
the cheap and moderate te-priced cars.
Cars selling at $4,000 and upward
will not aggregate more than per
cent of the total.
Wage advances have taken place
in numerous instances, one of the
most noteworthy being the advance
in the iron industry from $3.50 to Sc
per ton for pudding. The cases are
sufficiently numerous to demonstrate
that wage-earners as rule lose
nothing by concessions in bad times
which help industry back into activ-
ity. The interests of wage-earners
are served by getting industry busy.
The outward movement of migrat ton
during the past year and the restric-
tions upon immigration have had in
fiuence upon the labor situation."-
National City Bank July Circular.