The Washington herald., 1922-01-22
AILE REELECTED
T0HEADDIRECTORS
OF WIRE. COMPANY
Directorate and Official
Personnel Unchanged
At Yearly Meeting.
1921 REPORT GIVEN
Operations for Past Year
Gratifying President Ham
Tells Stockholders.

AT a meeting of stockholders of
the Washington Railway and Elec-
trie Company held yesterday. when
lOI.259 shares were represented in
person or by proxy, the following
directors were chosen for the en-
suing year: Milton E. Allies,
Charles ]. Bell. Woodbury. Blair.
Edwin c. Brandenburg. Daniel J.
Callahan, Emory L. Coblentz, Will
lam T. Galliher. Julius Garnnkle.
William F. Ham. Robert n. Harper.
Lennard II. Mitchell. Clarence F.
Norment, Harold B. Thorne. Bates
Warren and George W. White.
Allies Heads Board.
At the meeting of dFectors inn
mediately following, Milton e.
Allies was elected chairman Of the
board for the ensuing year. WILL
lam +. Ham was reelected to the
presidency of the corporation, to-
gether with the following: Vice
president and counsel, S. r. Bowen;
secretary, Fl. NJ. Keyser; treasurer,
A. NJ Fisher: comptroller. A. G.
Neal: assistant secretary-treasurer,
william l. Clarke; assistant secre-
tary, H. w. Kelly, and V. ID. Brooke,
assistant treasurer.
4 The executive committee was
elected, consisting of Clarence F.
NorTnent, chairman: Milton Z. Allies.
Charles j. Bell, Woodbury. Blair,
Edwin C Brandenburg. William T.
Galliher, Robert n. Harper. and
William F. Ham, president, ex-
oficio.
The auditing committee was
Mitchell and White.
No changes were made in the
operating staffs of the railway, or
Potomac Electric Power Company.
Financial Condition
The corporations financial condi-
ton showed considerable improve
msnt during the past year accord
ing to a report read by President
Ham at the annual meeting Of
stockholders. Figures. subject to
revision upon inal audit of the
accounts, were given as follows:
Gross earnings from operation,
S5,455. .623.61; miscellaneous income,
including dividends from Potomac
Electric Power Company, 1884,
5II56: gross income, Ss,iIo,135.17;
operating expenses. including de-
probation. taxes and miscellaneous
charges, $4.3S2.s3TO5; interest on
fanded and unfunded debt, STA
ss6O-5S; payment Of five per cent
diyident on preferred stock, s425,-
200, making q total. for the three
Items, of S5,583S97.63, which. sub
tracted from the gross income,
leaves a total of s52s,2S7.54 for the
years operations.
In discussing the corporations
showing for the past year, Presi-
dent Ham said in part:
From the foregoing statement
IL will be seen that the company
has made material progress as
compared with recent years. With
the exception of dividends from the
Potomac Electric Power Company
no income was received by the
washington Railway and Electric
Company on its investments IN
stock Of subsidiary companies II
is. however, gratifying that the
subsidiary railway companies sno"
an operating pront to the parent
connany without any allowance
o. return upon inveJtment) of
sac nos 40, as compared with an
onerating loss of S199,7sS26 IN
1919.
Cat II
During the frst eight months OF
the wear the rate of fare within the
District of Columbia was cents
cash or tickets at the rate OF 1our
co. 40 cents. during which period
+hs average fare was 7.53 cents per
nay passenger. By order of the Pub
&c utilities Commission of the Dis
rIct of Columbia, effective Septem-
yber 1, 1921. the rate Of fare was re-
duced to s cents cash or tickets at
the rate of FIVE for IS cents. such
rate to continue in force until
March 1, 1922. This reduced the
average fare during the last four
months of the year to 7.O6 cents per
nay passenger. Manifestly the earn
ings for. the year would have been
materially less II the present rate
Of fare had been in effect during the
entire year.
During the year the Washington
Railway and Electric Company's
system carried 111.111,052 passen-
gers, of whom 25,62s,396 were car
ried on transfers. The number of
paw passengers carried, as compared
with 1890, decreased 2,301,02S equal
to 2.62 per cent. When considering
the curtailment in the number or
government employees and the gen.
eral business depression, this Is a.
very satisfactory showing and re-
fleets the stability of Washington as
a community.
Improvement During Year.
SThe improvement shown during
the year, while due primarily to the
nSigher rates in effect the greater