Evening star., 1925-01-18
Present Charges Are Inadequate
to Fair Return, Says utility Head
Falling Off in W. X. C E. Reuenue Pas
sengers Makes Higher Fares Necessity,
Han, Tells Stockholders.
.uded in operating expenses.

included In operating expenses.
On July IT, 1924, the Washington
Railway and Electric Co. sold s2,496,-
900 of it's general and refunding
mortgage 6 per cent tenyear gold
bonds, dated November /, 1923. These
bonds were sold for the purpose of
reimbursing the company for the
amount expended In the retirement
of 100000 per cent five-year gen.
eral mortgage bonds, which matured
December l. 1923, and for additions
to plant and equipment up to June
80, 1928
The Washington Railway and E1ec-
trio Co. also obtained authority from
the Public Utilities Commission under
date OF December II, 1924, to issue
and sell S1,S50,000 Of its general and
refunding mortgage 6 per cent 10
year gold bonds, dated November !,
1923, for the purpose of retiring a
similar amount of Metropolitan Rail-
road Co. first mortgage per cent
bonds, which mature February l, 1925
These bonds have not yet been sold.
The total outstanding bonded debt
of the Washington Railway and Elec-
trio Co. and subsidiary companies, In
cluding the Potomac Electric Power
Co, is now $31 ,350,750, which, added
to the SIS 10000 capital stock Of the
parent company and $95, $50 outstand-
ing capital stock of subsidiary COM
panies, makes the total outstanding
capitalization at this time SAG, 6,446,100.
This figure excludes bonds purchased
for the sinking funds and for tenn
porar-y investment, but includes bonds
bought as an investment OF the funds
held in escrew pending final decision
In the Potomac case.
Larger Total Payroll.
The total payroll for 1924 OF the
Washington Railway and Electric Co.
and subsidiary companies, including
the Potomac Electric Power Co, was
s4,2S1, ,21719, an increase over that Of
the preceding year OF sos, ,496.30.
The number of employees IN the
service Of the Washington Railway
and Electric Co. system IS now 2,746,
of which 1,7O0 are members of the
Washington Railway Relief Associa-
ton This organization, in conjunc-
tion with the company, has continued
the group life insurance Of its mem
bers, policies varying from 5000 to
$500, the latter for those who have
been members for five years or more.
Since this plan has been in effect-a
little over four years-31 payments,
aggregating $36.7J0, have been made
to the beneficiaries Of those who have
been called Dy ueaLh. Fof lAe DGHeHl
of the colored employees of the com
pany a somewhat similar group in
surance plan was put into effect on
July /, 1924, the company contribut-
ing about one-half Of its cost.
THE usual quarterly dividends, ag-
gregating 5 per cent for the year,
were paid on both the preferred and
common stocks of the company.
There are now 2,274 stockholders, of
whom 1876 are women. trustees,
charitable, beneficial, religious and
other similar organizat tions. OF the
total number Of stockholders 1,435,
or 63 per cent. are residents of the
District of Columbia There are
being held 546 shares of stock for
employees who are buying same under
the plan of employees becoming stock
holders referred to in last years s
report" Mr. Ham reports