Evening star., 1924-05-09
INCREASED INCOME
FOR LOCAL UTILITY
Washington Rapid Transit Com.
pany Announces April Most
Prosperous Month.
DC. BANKS REPORT ELECTIONS
Light Trading Today on Washing.
ton Stock Exchange.
BY CHAS. p. sCHAEFFER.

| April, 1924. proved the most prosner-
Gus of any month since inception Of the
Washington Rapid Transit COMPANY,
report OF the utility for this period
SHOWS net corporate income OF
$4,452 was earned during the thirty
days, which is gain of approximately
| $500 over the previous month, which. AT
| that time, represented the peak in earn
ings.
Total operating revenues amounted 10
$30.S09 during the month, of which
s3o,429 represented eight-cent fares
with bus advertising accounting for the
remainder. Operating expenses totaIed
s26,507, s13,729 being chargeable to
vehicle operation, s4,070 to maintenance
and S3,5S2 to depreciation.
The company is now operating on :
ten-cent-cash fare or three tokens for
25 cents, the Public Utilities Commis-
sion order authorizing this increase GO
ing into effect on May l. Formerly The
charge was cents straight.
Notes of Stock Exchange.
Continued weakness in stock of the
Washington Gas Light Company was
the outstanding feature of trade on
the Washington Stock Exchange to-
Sc shares, the price fuctuating be-
tween 479s and 47A. Traction ara
hallway preferred were both IN
changed, being traded in at 93h and
"a, respectively.
Bond trading was restricted to small
volumes of favorite utilities at IN
changed prices
ID. G. Bank Elections.
Maurice Otterback was reelected
pl esldent of the Anacostia Bank for
the seventh successive time at the
annual election of the board held yes
terday afternoon. J. +. Campbell and
S. A Manuel were renamed vice presi-
dents, and Charles V. Etzler and W. !.
koontz reelected as respective
cashier and assistant cashier. George
counsel.
The entire directorate was re
elected as follows: ]. F; Campbell.
A. E. GUIDE, George S. King, s. \.
J. Mundell, Maurice Otterback, J.. "
Thompson, James E. Toner and Rob
ert Thompson.
President Otterback reported thai
the banks deposits totaIed approx
mately s945,000, with an earned sur
plus of $4,000 and s24,532 of undi-
vided profits. He also reported his
institution had enriched the neigh
borhood to the extent of s157,76l
since inception in interest paid to de
positors. or approximately five times
the s32,667 paid thus far in dividends
to stockholders.
Ezra Gould and r. H. Bagby were
reelected, respectively, president and
vice president of the Washington Me-
ckanics' Savings Bank at the eight
eenth annual meeting of the institu-
ton AT the same time the following
directors were reelected: Ezra
George Hayes, Jesse B. K Lee. E. +.
Pickford, G. Bryan Pitts, J. c. Pyles,
E. Hume Talbert, John P. F. White,
F. P. Williams and Z. S. Wolfe.
held April Il, 1906, and the opening
days deposits were $1,470. They are
now approximately $1,152,200, the
greatest amount the bank has ever
reported.
Treasury Financing Anticipated.
Wall street is already speculating
as to the amount and terms of the
next month. 1t is figured that the
amount will not exceed $500, 900 600
and that the Treasury can do better
than 4 per cent on one-year ma
tdrity.
Harold W. Burnside, assistant cash
ier OF the Farmers and Mechanics
National Bank, was elected and in
stalled as president of the local chap
ter, American Institute of Banking,
at the annual election held last night.
Other elections and installations re-
suited as follows: R. Jesse CLANCY
Commercial National Bank, first vice
president; T. Hunton Leith, Security
Savings and Commercial Bank, sec
ond vice president; George NJ Irelan,
Riggs. secretary; Joseph D. Yerkes,
Federal-American, treasurer; Viii
liam G.. Winstead, Metropolitan, as
Sistant secretary: Garrett NJ. Van
Hoesen, Second National, chief con
sui.
The following members were cleo
ted to the board of governors: r. c.
Calvo, James c. Dulin. jr.: John T.
Fletchall, George Shisler, Misses Lois
A White and Florence NJ. Willer.
Personal Mention.
Coleman Jennings of the National
City Company. who was partially
blinded in tennis competition last
Saturday, has left the hospital with
his sight fully restored, and returned
to his office this afternoon.
Before You Invest-Investigate.
Ever notice that the fellows who
try, to get rich quick are always
broke?