Evening star., 1923-07-01
BUSINESS Men IN the District Il
Form $40, ,OOO, 900 Corporation,
Aim to Supply Funds for Building j,
/ Capital-Street Rail,oay Earnings COM
pared-Uplisted Securities Prices.

Organization. of the Real Estate.
Mortgage and Guaranty Corporation.
with $1s,00o.000 capitalization. headed
by L. E. Breuninger, to be devoted
to furnishing funds toward the up
building of Washington, has been
completed and the firm will begin
functionng tomorrow in temporary
ofices on the second foor Of the
Institute of Economics building, 26
Jackson place.
The capitalization OF the company
has been split up equally into $5.00o.-
900 of common stock and a like
amount of per cent cumulative pre-.
ferred stock The corporation VIII
purchase mortgage notes secured on
improved real estate and conduct ousi .
ness incident thereto. The steady ana
creating a demand for additional
houses was instrumental In the FORM
ing of the organization. 1t was said;
in order that the proper hnanciai
ers of such homes. who find 1T neces-
.sary to convert their deferred pur-
chase money notes into capital TO
carry on their business
husiness men are affiliated with the
institution. Roy L. Neuhauser, vice
president of the Citizens Savings
Bank, is also vice president of the
new company, as Is Thomas Somer-
Vile, who heads the company that
bears his name. in addition to being
president of the Park Savings Bank
and a director in both the Federal
American National and the Citizens
Savings banks. Gen. Anton stephan,
general manager of Dulin & Martin
has been named treasurer. Gen.
Stephan is also president Of the
Merchants and Manufacturers Asso.
ctation, and commanding general or
the National Guard Of the District.
Directors of the institution In ad-
dftion to the officers mentioned above
follow: Fred Drew. president Fred
Drew Company, Inc. and director OF
the Citizens Savings Bank; I. {.
Du1in. secretary and treasurer OF
Dulin & Martin. and director Of the
Federal-American National Bank
Donald woodward, president of
woodward & Lothrop and director Of
the Washington Loan and Trust
Company: Sol Lansbursh. president
LAnsburgh & Brother; Samuel Mil
Co.: Edward c. Ernst. electrical cont
tractor; William Muehleisen. presi-
dent Mount Vernon Savings Bank;
Frank H. Edmonds. director Of Con-
tinental Trust Company and the
Fidelity Savings Bank; Andrew
Company, Inc. and director of Lin
coin National Bank: Henry l. Breun-
niger architect and builder. and Hay
den johnson, director of the Mount
Vernon Savings Bank. Mr.. johnson
is also the general counsel of the in
Stitution.
Street Railway Earnings.
The Washington Railway and Elec-
| tric Company operated during the
hrst four months of the calendar year
at net income Of $2S2,296.2O an in
l. crease of S11.205.S5 over the cor
responding four months of last year
while the Capital Traction Company
boasted a net income of s34s.767.O4,
which represents a loss of $7s,541.S9
over the corresponding period OF
1892. A minute perusal of earnings
fled by the companies with the Public
Utiiities Commission brings forth the
following added comparisons:
During the period the Capital Trac-
f, tion Company hauled 23,047. .405 pay
passengers. q decrease of 963,44s over
: Railway and Electric carried 27.2l0.-
02< ttncluding W.. b. .S a. passengers)
for an increase of 2%s.7ss.
Operating revenues of the WASH
tnsten Railwsy and Electric for
tailed $2.062. .5SS.34, a gain OF $9.12s.71.
while Capital Traction revenues
amounted to SL619.51S.53 for a loss
OF $S2.Sb9.76 over the same period OF
last year.
On the other hand, operating ex-
penses of the Capital Traction Com
p4ny. amounting to $f53.617.S4 for
the first four months Of 1923. show a
decrease of S71,221.22 over last year,
while the Washington Railway and
Electric Company shows u gain for
this item of So,445.22. Total deduc-
tions of the Washington Railway and
Electric Company dropped S1.544.10
during the four months in question,
but this item for Capital Traction
rose to the extent of $S,320.4..
Earnings ofs the Washington Rail-
way and Electric Company accruing
from the Potomac Electric Power
Company do not figure in this report
except when incorporating income is
when the light company's
dividend is included.
Detailed statistics covering this
comparison follow:
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