Evening star., 1925-07-27
TRANSIT COMPANY
TOSP[|T 4MELON"
Initial Disbursement at Cash.
Rate of 6 Per Cent, Pay
able on September /.
BY CHAS. r. SHAEFFER

NIi.tc- StSEF 4
The initial dividend Of the Washing
ton Rapid Transit Co. will he naid
on September /, in cash. At the rate
OF per cent on the par value ~
common stock. TO recorded stock hold.
ers as of August !, It was learned
from officials Of the company this
morning. The disbursement. which
amounts to so cents a share on the
$40 par value, is applicable to abou,
2l6l2 shares.
This is the first dividend the com
pany has been able 10 pay since its
organization in January. 1921. Due
70 insufficient surplus, officials Of the
bus line deemed il best 10 pursue
poilcy OF economy until the company
was properly financed.
In message accompanying the
dividend notice it is pointed out tina.
II IS the opinion Of your manage
ment that the financial affairs Of the
company are now in such condition
that a dividend in the amount rney
toned above is justified. This frs
dividend has not been designated as
being applicable TO any particular
period, and II is hoped the continued
success Of the company will make Il
possible at some future date 10 pa,
its stockholders dividends in sllcl
amounts as will cqualize for the non
paying years"
Pepco's Earnings Grow.
The Potomac Electric Power. 90
enjoyed a gain of $500 $50 in ne,
operating income for the first ~ir
months Of the present "a alend4r year
as compared with the CORRESPONDING
period of last year, accumulation o.
monthly statements filed with tho
Public Utilities Commission shows
with the increase the utility was able
70 show a net Of Sl,26T,477 for the
half year as against only S766-GI8 for
1924
June's net was s175,635, gain .,
S4S,t over the same month Of last
year. Gross earnings from operation
during this month were S545 oe2
gain Of S47,9l3. while operating e..
peEses declined about $4,000 ro.
S242462
w. r. & z. Report Also Out.
Despite an increase Of $4,000 ir
dividends received from the Potoma
Electric Power Co, the washington
Railway and Electric Co was onI,
able 70 show an increase Of $4,000 for
the first half of 1925, as against the
same period OF 1924. resulting actuaNr
in decline of about $3.50 for the
period
Formerly the power company paid
dividends at the rate Of 70 per cent
which rate was discontinued in favor
Of II per cent disbursement. the las
payment AT the old rate being ma Dc
in February, 1924, when S150.0O0 was
paid TO the railway ComDa ny. Since
that time the regular payments have
amounted TO 100000.
June's railway net totaled S33,644 q
loss OF about $4,000 over the same
month OF last year. Revenue amount
af m EoQQ
TO S316,166.
The Georgetown and Tenleytown
and City and Suburban lines continue
TO experience financial difficulty in
operations. The former shows loss
of S27,2Sl for its activities up to July
this year, as against deficit Of
S9,096 for the same period last year
while the latter shows a deficit of
Sl8,373, as against $25,712 in 1924
Railway Common Strong.
A bullish tendency continued 70 rule
the local exchange this morning with
Railway common as the pace. setter.
This issue was firm at the opening
and advanced regularly 10 1928 Al
the close. with $50 shares changing
hands. Today's prices were the high
est since the present movement in
the stock began.
Another conspicuous feature of the
days trade was Commercial National
Bank which pursued its aScendancy
10 1875 on sales Of 40 shares Merger.
thaler also was exceptionally strong
at 1914 upward TO 1852 on sales Of
20 shares. and Riggs National Baui
brought 556. Gas stock was IN heavE
demand. selling TO the extent of So
shares.
Treasury Calls for S5,2SO,OO0
Banks of the country will pay into
the Treasury tomorrow S5,2S0.O0o
representing per cent of the balance
on hand arising from the sale Of
Treasury certificates of indebtedness.
issued on June Is to the amount Of
S124, PAT 900.
B. & o. Increases Earnings.
The Baltimore and Ohio Railroad in
creased its net operating income Sf95.-
93S in June compared with the same
month last year, but the total of SIJ.-
71S,4l2 for the half year was $40 ,o65
less than a, year ago.
Gross revenues for the first six
months this year fell S934,S0S. Oper.
ating expenses were reduced 81 ,400,375-
i. c. c. Cuts Managers Fees.
Fees which the reorganization man
ayers of the Missouri -Kansas-TeXas
Railroads return from receivership To-
corporate operations propose to col
leCt were reduced by the Interstate
Commerce Commission from approx
mately $2.364,000 to $780, 900.
Three members of the commission
objected to payment of even the
smaller amount and Commissions
Eastman said a figure OF 81 200, 600
was sufficient.
]. &. W. Seligman & Co. and
Hall Carton Co., New York City ir.
vestment bankers, will receive a fec
Jointly of 100000, while two firms,
Cravath, Henderson & de Gersdorff.