Evening star., 1923-09-05
CAPITAL TRACTION
REVENUE SLUMPS
Decrease of 316,011 Pas
sengers in July Cuts Off
S26,613.

decrease of 316,011. or, 81 per
cent, in revenue passengers carried
resulted In a drop of approximately
$26,6l3 In net income of the Capita
Traction Railway Company during
the month of July, 1923. the Public
Utilities Commission announced this
morning. Net income of the carrier
amounted to s4e,27l.9S during the
month, In contrast with s77,sS5 dur
ing the corresponding month of last
year, and with s125,09s in June. 1923.
Railway operating revenue amount
ed to s37I,e52 in the period under dis
cussion, while in July of last year II
tetaled $3s0,591. While this drop con
stitutes the major item OF loss, II IS
not wholly responsible for the ad-
verse showing.
Amounted to s261.149. which is an in
crease of approximately $4,000 over
July of last year, and deductions nuf-
ing the later month also showed
gain of more than $1,000. due. 10
Fsemi-annual payment of road lease
which amounts annually to Sl2,0ee.
Total deductions aggregated s33,629.
Retail Trnde GninS I'm ID. c.
The Federal Reserve Bank of Rich
mond reports an increase of Al per
cent in retail trade net sales in Wash
ington during July, 1923. compared
with July. 1922 while stocks on hand
at the end of July, 1928, have gained
S.4 per cent over stocks on hand at
the end of July, 1922. On the other
hand, stocks on hand at the end Of
July, 1928, have decreased 3.6 per
cent over stocks on hand at the END
lof June, 1928, Percentage gain of
outstanding orders at the end of July.
1923. TO total purchases of merchar-
n dtrr frc IL
to 100, the report says.
New Treasury Issue Soon.
The new issue of Treasury notes Of
indebte edpess is expected 10 total
Der Is and run for year or two
with the interest rate either IA OF
Az per cent. according TO authorita
tive Information y definite announce
fnent is expected before the close Of
the week, possibly on September &
The proceeds from this issue AMI
the s300.0e000o expected to be OBJ
tanned from the next installment o.
I income taxes due September ID will
1 more than offset the requirements o:
care of its approaching maturities.
Stock Exchange Lively.
/ Comparatively heavy trading. with
jump TO l59 on the part of Mer-
genthaler Linotype, featured on tn
Washington Stock Exchange this
! morning. But ten shares of the type
| setter stock were sold.
| Union Trust Company stock was III
| brisk demand at 15z to 15S. and
| Washington Gas Light was slightly
stronger, in odd lots, at i934. Rail
way preferred remained unchanged at
| II, as was Lanstpn at 72la.
Bond trading was confined to fa-
| vorite issues at unchanged prices:
Personal Mention.
| Mrs Sn,ii ,-bo
broken collar bone in the Alps bus
plunge several weeks ago, will leave
her hospital at Nice tomorrow and
sail for horne. probably on September
Is, a cable to her husband said this
Charles J; Bill. president of the
pany. has returned to his institution.
after q lengthy tour OF the northwest
and Canada. Corcoran Thorn. vice
president of the same institution,
twill return about September 10.
| +. r. Miller member of Crane. Par
;ris & Company, has returned after
couple of weeks at Lake Pleasant, in
/ the Adirondacks.
Minimum August Failures.
With the single exception of July,
commercial failures in the United
States for August are the smallest
in number for any month in over two
years. while the liabilities are less
than those OF all previous months,
aside from last June, since November.
1920. AS reported to X. c. Dun x
Co, the August defaults number 1873
and involve an Indebtedness of S34.-
334,I22. com&sAring with 1921 insol-
vencies for S35,721,1SS in July. 1t
thus appears that the August fail
ures although about I per cent
larger in number than those of July,
show . decrease of approximately
per cent in the liabilities. In Au-
gust, 1922, there were liza defaults
for s40.279,71S.
| OF the August insolvencies. 3S5 with
an Indebtedness of S15,9S7.913 oc-
Cured in manufacturing occupation
SIS for S13.124.649 among traders and
forty-six for S5.222, go in the division
embracing agents, brokers and other
similar concerns. The manufacturing
failures represent about 80 per cent
of the total number for the month.
whereas the manufacturing liabii-
ties are equivalent 10 approximately
4s per cent of the aggregate amount