Evening star., 1923-10-01
CAPITAL TRACTION
EARNINGS SLUMP
Fewer Passengers Carried in
August Than in 1922-Local
Stocks Strong-NoteS.

A decrease Of 5.6 per cent in reve-
nue. passengers carried during the
month caused a loss of approximately
$4,000 in earnings of the Capital
Traction Company during August.
1928. as compared with last year. q.
statement of condition filed with the
Public Utilities Commission this
morning showed.
Net income for the period totaled
s56,391. in contrast with s6S.522 for
August of last year and with S4s.-
272 for the previous month of July.
this year.
Railway operating revenues amount
ed to $346.647, with expenses aggre-
| eating s254.470, while taxes assign
| able to railway operations totaled
S28,561. Deductions were made as
foilows: For interest on funded debt.
sS5.35S: interest on unfunded debt.
$2,0SS; miscellaneous debts, $500. and
rent for leased road, $3.50.
Revenue passengers carried during
the month numbered 5,153.SI2, a de-
crease OF 308.635 from the number
carried the corresponding month of
last year.
Local stocks Stronger.
Well varied trade at stronger prices
featured on the Washington Stock
Exchange this morning. Washington
Gas Light was conspicuous, recover
ing to so on sales of thirteen shares
while Capital Traction stock. which
has been easier during the past week.
recovered to par
On the bond side of the market.
City and Suburban SIS brought so. ana
Potomac Electric general and refund
ing 6s of 1853 sold at 102. Pepco Con-
solidated 5s sold at 81.
Assumes New Bank Duties.
Alfred II. Lawson today assumed
his new duties as real estate officer
of the Washington Loan and Trust
Company, succeeding 10 the position
made vacant by the recent death o5
Thomas Bradley. Mr.. Lawson does.
not become a vice president of the in
stitution, as was Mr. Bradley. :.
Mr.. Lawson is we'll versed in hisf
new duties. Since 1909 he has been
secretary of the District Lawyers and
Washington Title companies. He is
a graduate OF Georgetown University.
and holds membership in the City.
Lions and Congressional Country
clubs.
American Telephone and Telegraph
Earnings.
The earnings statement for the nine
months ending September 30 of the
American Telephone and Telegraph
Company will be made public around
October Is. II is expected to show
continued satisfactory growth In
revenues.
For the first half year an esti-
mated surplus was shown Of S40,57a.-
AT after charges and taxes, equiv
alent 10 S5.72 a share earned on
S7o8,27o,300 average amount of cap
itaI stock Outstanding. This com
pared with $32,364,133, or 1915 a
share on s562,25s.4o0 stock in the
first six months OF 1922.
There are 273,000 stockholders of
record today. an increase of 5000 In
the last month, and comparing with
24S.925 December 81, 1922.
About 10000 employees who are not
yet stockholders of record have
bought stock on partial payment
plan.
OF the American Telephone ana
telegraph convertible 4i.s dated
Telegraph convertible AIS dated
March ]. 1919. and payable twenty
years from that date. $60,552 900
have been converted. leaving but
s6,447,S00 now outstanding. This
compared with s7.191,So0 outstanding
|. OF the American Telephone and
Telegraph seven year per cent
convertible gold bonds. dated August
1, 1913, and payable seven years from
verted, leaving $10,753,3 400 outstand-
ing, compared with S14,0T0,500 out
standing December 81, last.
There is no new financing for
either the American Telephone or
Telegraph Company or its subsid-
iaries contemplated during the re-
mainder of the year.
Personal Mention.
John E. Larner, president OF the
Washington Loan and Trust Com
pany, returned to his institution this
morning after ten days spent with
| his sick daughter at Miff!intown, Pa
r. NJ. Wolfe. assistant cashier of
the Citizens Savings Bank, is again
| at his desk after two weeks 1t At
lantic City