The Washington herald., 1922-08-10
WASHINGTON RAPID
TRANSIT OPERATES
AT LOSS IN JULY.
Deficit of $2,733 Due Pri-
marily to Union Sta
ton Line.

The Washington Rapid Transit
Company was operated at net cor
porate loss of s2.733 during the
month Of July. the Public Utilities
Commission announced yesterday.
This loss compared with q dedcit Of
s1.o2l for the previous month. and
with an adver.s balance OF $50 for
the corresponding period Of last
year when the company was just
beginning operations.
Total operating revenues for the
period amounted to sz4.7o1. while
operating expenses totaied S27.33o.
hirty-six buses were maintained
during the month. hauling 3oS,231
! Iassengers. as against 334.oss pas
sengers hauled the previous month
with the same number of busses.
1t il understood that the Union
Station line, which has been put
into operation since the manage
ment decided to expand the business
some months ago, Is wholly respon-
sible for the deficit incurred. the
other lines. notably thas operating
on Sixteenth street. being reported
in an extremely fourishing condi-
dition-
Local Securities.
Potomac Electric general and re-
funding per cent bonds reached q
ew high on the Washington Stock
Exchange yesterday. $1,000. face
value, selling at 1osk and 1os.
other issues ruled featureless.
Gas IS ruled firm at SAX, $4,000
selling at this figure. while the IN
per cent issues of the company sold
at los. Railway general IS sold 1T
ss% and ssS.
In the stock list. Traction sold in
restricted lots at 100%, with Gas in
more active demand at 56& and u.
Lanston sold at 7sH.
Personals
R. Golden Donaldson. president of
the Commercial National Bank, is
vacationing several weeks at Hot
Springs. Va.
]. H. Baden, vice president of the
Commercial, has returned from a
western trip of several weeks du-
ration.
Steel Ingot Production.
The daily rate of steel ingot pro-
duction. as estimated by the Iron
Age. was 113,700 tons for July,
compared with 115.so0 tons for June
and 114.70o tons for May. The de-
crease for last month was NOT nm
expected. but it was comparatively
small. With increasing scarcity
of fuel at steel and iron works Au-
gust will show a more pronounced
decline. 4 dozen more blast fur
naces have been forced to suspend
in the Chicago. Cleveland, Youngs-
town, Pittsburgh and Buffalo dis
tricts and as many more wiz prob
aoly be idle within another week
and several steel plants NAV also
oe torcc@ to suspend operations. In
the Chicago district, where the steel
companies for many weeks bav.
taken the lead in percentage of ca
pacity. a shortage of open-top car.
ana railway congestion and en-
osrgoes have brought added dim
culties. Pittsburgh mines. On which
lie central ,yestern steel mills reIv
TO- fuel will be little affected NV
any agreement that may be reached
at the Cleveland coal conference ana
tor considerable period only a
small proportion of the newly mined
coaI VIII be available for the pro-
auction Of iron and steel.
Although definite delivery cannot
ne promised, railways, car build
ers and automobile manufacturers
are still @ctive buyers. and one Of
ne ieading Chicago mills reports
.Rt lts new orders for the week
nave been among the largest of the
year with rising prices for coke
and pig iron. finished steel, when
oousht for early delivery. is quoted
AT an advance of from 50 to 50 per