Evening star., 1923-11-09
RAPID TRANSIT CO.
RUNNING At LOSS
October Report FiIed-Busy
Day on Local Exchange.
Financial Notes.

The Washington Rapid Transit
Company continues to operate at a
loss. During October, 1923. a setback
of $226.S0 was incurred, in contrast
with a deficit Of 1851 the previous
month. and with a profit of s475 re-
allied in October, 1922.
Total revenue from transportation
during the month amounted to $26,-
0O3, while 1876 was realized through
advertising placed in the busses. Off,
setting this amount, there was ex-
pended for vehicle operation, S12,203,
S4.676 for maintenance, s4,439 for de-
probation. s4,491 for general and
miscellaneous expenses and sG94 for
garage operation.
Ihlrty-siX busses were maintained
during the month. carrying 328, ,233
revenue passengers. In October of
last year, 345.642 nav passengers
were carried in thirty-three busses.
Branch Banks Opposed.
Eighteen states, through their at
torneys general, have filed in the
Supreme Court brief contending
they have the right to prevent ma
tlonal banks from establishing
branches, a question at issue in the
case brought by the First National
Bank of st. Louis against the state
of Missouri. which viii be argued
next week.
The states are Arkansas. Connect
cut, Illinois, Indiana, Iowa. Kansas.
Kentucky, Minnesota. Nebraska. New
Mexico. North Dakota. Oklahoma
South Dakota. Utah. West Virginia.
Wisconsin and Wyoming.
The brief declared that when en-
forcement of the laws of Congress is
essential to the preservation of So
cIety and personal and property
rights the states may enforce them.
To permit an infraction of either the
state or national law, it added, would
of necessity break down and perhaps
destroy both state and national bank
ing systems and disturb the COM
mercial, industrial and financial actiyi-
ties of the people of the respective
states"
The controller of the currency, full
ly aware of the establishment of a
branch by the First National Bank of
st. Louis, the brief said, failed to act
wrong thus committed, though stat
! ing publicly and through official bull
| letins that he had not and would not
issue permits for such conduct"
Should the courts hold that the
states are without authority to prose-
cute suits to stay a federal agent in
! the commission of an unlawful act
! irreparable injury to the public well
/ fare and the general good of the peo-
/ pie would ensue, the brief asserted.
| 1t is not necessary, it contended, that
i the states should stand idle as SOW
| ereigns "and allow their own finan-
/ cial creatures to suffer until the con-
| troller of the currency, a mere minis
! terial officer of the federal Union,
| chooses to act"
Stock Exchange Lively.
| The heaviest stock trading of the
4 h 1aI fha cnt
| ton Stock Exchange this morning.
| Sales of 100 shares of Lanston Mono
! type resulted in further decline to
! 70$s. while a like number of shares
of the, Commercial National Bank
| changed hands at 141, the prevailing
level for this issue Sixty-seven
! shares of Railway preferred sold at
! II and fifty shares of American Sc
curity and Trust Company We're dis
posed of at 300, with the exception
one point lower. Washington Gas
Light held firmly at 4Sa, and two
shares of Traction brought 9S.
The bond list was neglected, $4,000
Pepco consolidated 5S at 971A and 500
Washington Gas 6s of 1893 at par, be-
ing the only sales.
Banker Taking Rest.
Charles E. Bright, manager of the
Washington Clearing House Asso-
| citation, is away from his duties re-
covering from a nervous breakdown.
Banking Glass Officers.
At the meeting of the second year
standard class of the Washington
| Chapter. American Institute of Bank
| ing, held last night, the following
| officers were elected: President, Dom
aid Cameron of Federal-American
| vice president, Katherine Krief OF
| Riggs National Bank; secretary
Julian o; Cardin of Northeast Saw
| ings, and treasurer, Florence Senge
| of the FederalAmerican.
Following the elections James c.
Dulin, jr.. president of Washington
| Chapter, installed the officers.