Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-13
Loss IS REPORTED
BY W.R. I.FOR MAY
Net Revenues $436.05 Below
Operating Expenses, UtiIi-
ties Body Is Told.
By EDWARD c. STONE.

BY EDWARD C. STONE.
Passenger traffic on the Washington
Rapid Transit Co.'s buses during
May was not sufficient to return
a profit to the company, net operat-
ing revenues showing loss for the
month Of S436.05. according to reports
just filed with the Public Utilities
Commission. Total operating reve-
nues for May were S42,546.16, while
total operating expenses, including i,
taxes, for the same month were s42,
1921, leaving the small deficit in net
income already mentioned Total
operating revenues for the same
month last year reached $43,144.71,
while total expenses We're much less.
being only $35, 772.82. making a total
profit for that month of $7,371.59
Revenue passengers carried during
the month of May this year totaled
459, 149.$ This was a drop of $4,000
over April of this year when approxi-
mately 1000 people were carried on
the company's BUSES. Passenger
traffic in May also was lighter than it
was during the corresponding month
q year ago. This was partly due to
the fact that the weather in May this
year was not nearly as favorable as
It was last year. 1t is said that the
weather kept many Washingtonians
from patroniZing the buSses and that
there were fewer visitors in the CITY
than came here in May, 1925. A year
ago hundreds of local people also were
riding on the double-decker buses. be-
cause they were a novelty. The
novelty of upper deck riding has worn
or and the bus revenues are feeling
the difference.
Capital Traction Leads Market.
Capital Traction stock led the local
market today when lot shares sold
on five transactions at 104, a price
fractionally below that prevailing last
week. There was one sale in Norfolk
Washington Steamboat Co at PTS;
Washington Gas Light stock stood at
69H; Washington Railway & Electric
preferred registered three sales total
ing 40 shares at SS1a. while 20 shares
of National Mortgage & Investment
preferred sold at 8A. Two shares of
Farmers & Mechanics National Bank
stock brought~295 and seven shares of
Federal-American National sold at 80.
Potomac Electric Power Is sold at
1851 and Washington Railway &
Electric is recorded three sales at
821k.
Tribute Paid to Late F. p. Reside.
Following action taken at the last
meeting of the Washington Loan and
Trust Co.'S directors, a glowing
tribute paid by John e. Larner to
the late Frank p. Reside, and reso-
lutions passed by the board have been
printed. Mr.. Larner lauds the de-
ceased directors loyalty to the bank.
his courage rare business ability,
religious example and high Ideals.
The resolutions, prepared by a coml
mittee headed by John Joy Edsont
refer to his early education in Wash
ington, his connection with the
Equitable Cooperative Building As
ISOLATION. unusual interest in finance
and civic activities, love Of music
and his. strong personality. One OF
his latest and best pictures appears
in the tribute. The tribute shows
very high appreciation for the splen-
did service he rendered the trust
company over a period of many
years.
Demand Deposits Gain Here.
The Federal Reserve Boards week
lv condition statement of FOL report
ing member banks in leading cities as
Of July Z shows declines of $77 ,OO0,-
600 in loans and discounts, $2S,o00,0OO
| in investments. S240, 900 900 in net de-
marid deposits and an increase or
| 500 900 900 in borrowings from the
Federal Reserve Banks. MemberI
| banks in New York City reported re.
auctions of 100000 in loans and
discounts, S191 100000 in net demand
deposits and an increase OF $134 ,0OO,-
| 600 in borrowings from the Federal
Reserve Bank.
Demand deposits in the fifth dis
/ trict. which includes washington.
/ showed an increase of $8,00O,O0O.
Bonds Called for Redemption.
| The Chesapeake & Ohio Railway
!, has called for redemption on Octo-
| Der 1 It's 5 per cent convertible 30
| wear bonds, due April 1, 1916, princi-
Epal with per cent premium and ac-
crued interest to October being payJ
able through J.. P. Morgan & Co. The
conversion privilege expires Septem'
! Der 1.
baltimore and Ohio has a net profit
| Of about $50 g. share on it's holdings OF
Reading common stock. acquired 70
| years ago. With the Reading junior
shares selling last week at double par,
/ ar 800 a share, this block OF stock
| was worth SIS, 0OO, 900 more than the
S5.576,923 it cost the Baltimore and
Ohio Railroad in 1908.
Other Financial Notes.
: The washington delegation to the
American Institute of Banking Cen
i yention has arrived in Dallas, Tex.
/ According to the program, today's ses-
sion is being given over to comer'
ences.
Checks will be mailed out tonaof-
| row to cover the TX per cent dividend
i declared by the Washington Me-
chanics' Mortgage Co, which is pay
able July Is.
| Thomas w. Brahany, who has re-
Gently become a partner in Crane,
| Paris & Co., is taking weeks val
i cation and on his return will actively
i Join the banking firm. 80
i The John L. Edwards Co., local. rep
/ resentatives of Hornblower & Weeks,
4 received a special telegram from the
firm announcing the death OF the; late
4 War Secretary. Years ago MI Weeks
i played a. very strong part in buHdkng
mn this firm to one of the leading
/ banking and investment houses in the
i country. Many people in Washing
i toms financial district mourn MS
Il death. senS
i NJ. Al. Hartman & Co, Inc.a an
nounce that F. B. Krom has been ap-
pointed manager OF their New York
IE.sales department.
u