Evening star., 1925-07-13
RAPID TRANS|T'S
REVENUES SLUMP
Company's June Report
Shows Extra Expenses for
Replacing Buses.

Failing off Of operating revenue and
increase of expenditures, including the
addition of another bus and replace
ment of others, were among factors
causing a sharp decline in the net
corporate income of the Washington
Rapid Transit Co. for the month OF
June, according to its report for June
hled today with the Public Utilities
Commission
The net corporate income dropped
from $8,10S.07 in May TO s1,7I23O in
June. Total operating revenue de-
clined from $43,144.71 in May TO
SS9, in June. while total operat-
ing expenses rose from S35 ,609. 50 flI
May to S36,686.63 in June. One ad-
ditlonal bus increased the number of
transportation units from Al in Nav
to AZ in June.
Among the factors for decline in the
showing of net corporate income was
an Item of 81 ,501.65 noted on the re
port as adjustment in accordance
with Public Utilities Commission let
ter dated June so, 1925" This letter
was not made public. Another item
included on account of this letter was
nue..
Gross income of the company was
ss.sl4.87 for May. as compared with
e4'I55.53 Tor June: operating rev.
enue was s1,379.9S in Nav. as com.
pared with 81 ,443.59 in June.
Inc net operating revenue for June
was S2,Il5.94, as compared with 81
534.89 for May
passengers carried at 10 cents mum
pered ZO5, ,45l in June, as compared
WIN zZO.499 IN May, while those car
n+ed nIo al the 9-cent rate numbered 2O4.-
oo9 IN June. as compared with 23o .aos
in May.
Local Stock Market.
me most interesting feature of 10.
days session OF the local Stock Fy
chanee centered in the bid and asked
quotations in the bank and trust com
lahy snares, although the actual
transactions were not important.
me DID price on Commercial Ma
tlonaI was moved up point to lT6
Liberty stock was held at 1872 and the
Dio price raised over 10 points to 100
IN an EFFORT to secure the Offering
Lincoln National was held at 335 win
SUI DID, with 351 offered for Riggs.
American Security and Trust moved
10 a new high at 343I2 on small sales.
with lS2 bid for Union Trust These
were the chief changes of the session.
Othef than the business in National
mortgage and Savings preferred
shares at 915. there were no sales of
Importance. In small way Capital
traction sold at 100ls, Railway pre-
Ierred at S35s and Washington Gas
oS at 1882 for round lots and 1o3[
10 lO212 for small amounts.
Reports 10 Per Cent Earnings.
The Title and Investment Co. OF
maryland, which is officered by Wash
lngtonlans and has Headquarters in
hl
per cent net in the first four months
Oh ITS existence, according to a re-
port on this period, just sent to
stockholders. Ernest l.. Schmidt is
president. Total assets as of Nav 81
We're listed at 1901 ,145.
Tax-Exempt Securities Grow.
In view of current discussion on
taX-eXempt securities, and the admin.
trauon.s announced desire 10 elm.
mate them, the Treasury's latest fig
ures on the amount outstanding were
attracting interest in local financial
circles today. The total amount Of
such taT-exempts was estimated by
the Treasury as of May 81 at an
increase over the month previous. the
hgures standing at S14,005 200, 900 for
May 81, as against S13,S56 900 900 for
the month previous.
Credit Banks Make Record.
Federal intermediate credit banks
extended more loans to farmers dur
ing May than in any previous month
in the history of the system. direct
loans. aggregating S9.415,27O or al
most 50 per cent more than anv
previous month.
While the direct loans were IN.
creasing, as they have for several
months. loans by the credit banks IN
the form of rediscounts were ma
terially reduced. the total for Nav
being S4,514,25S, just half of the April
total. Commissioner Cooper of the
Farm Loan Board explained that the
direct loans represented preparations
for marketing while the rediscounts.
for the most part, supplied funds for
production.
Federal land banks increased their
mortgage loans during May by So
O51,729, making the total of these out.
standing loans S96S,713,2al. Joint
stock land banks loaned an additional
S7,9lS,67S in May, and they had out.
standing June l a total of S4e4.165.-
23O. The turn in the tide of gold has
begun to affect banking credit in the
United States. and members of the
system are resorting TO increasing use
of credit from the Federal Reserve
banks.