Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-07-29
CAPITAL TRACTION
INCOME SMALLER
Company's Shares Lead
Trade on Local EXCHANGE.
Gaining One Point.
BY EDWARD c. STONE.

BY EDWARD G. STONE.
The Capital Traction Co. today re.
ported to the Public Utilities Com
mission lower earnings in the month
of June this year than during the
same period last year. The com.
total net income for the month
was S61.75757 this year, compared
with S69.47s.29 in 1926.
Total operating revenues for June.
1927. amounted to 1872 $3.50 against
total revenues of $3.50, DATA in June
last year. Operating expenses and
taxes reached the sum of S5.224.68
this year compared with $291,7 a
year ago, leaving a total operating
income, after these deductions, OF
SS7.164.S5 against $94,361.31 in June
a year ago.
The company carried 5,075,197 rev.
enue passengers during the month.
tho number for the same month last
year being 5,315, 431.
Six Months Earnings Announced.
Today's report also shows the Cap
ital Traction lines earnings for the
first six months of the year. Oper-
ating revenues amounted to S2294-
1876. against $3.50, 990.41 during the
first half of 1926. Operating expenses
and taxes totaled SL7&9 443.67 this
year, against s1,7S8,1i7,'s last year.
Deduction of expenses and taxes left
a total operating income of S544. 9500S.
in comparison with S572,s43.25 last
year. Taking out all other expendi.
lures for. the six months. leaves a to.
tai net income for the period Of $780,.
034.62 against 1922, S7951 last year
The Capital Traction Co. Is at pres
ent completing very heavy expend-
lures in new trackage on Pennsy.
vania avenue in the vicinity Of Wash
ington Circle. The six months re.
turns show that the lines carried al
316,176 revenue passengers, compared
with 32,650,712 last year, these figures
indicating that private automobile
transportation is still making heavy
inroads into street car traffic.
Traction Stock Leads Trading,
Stock Of the Capital Traction Co.
led trading on the Washington Stock
Exchange today, opening at los and
closing at 106, the days turnover
reaching 125 shares. Next in trading
volume came Potomac Electric Power
51a per cent preferred. which sold to
the extent of nearly 100 shares at
1915 and 101%.
Washington Gas Light was strong
at 75A, Potomac Power per cent
preferred came out at 1885 and 10
shares of Lanston changed hands at
SO on the local exchange today. Two
bank stocks were out, 10 shares of
Riggs selling at 474% and the same
amount OF Merchants Bank G Trust
at 155.
Calling Of the unlisted section show.
ed that bid on Anacostia Bank stocks
has been raised from 260 to 300. The
bid on Franklin National has climbed
from lao to 152 and Park Savings has
advanced from IS to 20.
Bankers Meet Late Today,
The council of administration of the
District Bankers Association will
hold routine meeting late this after.
noon at headquarters, in the Becker
Building. President w. w. Spaid,
who has just returned from Atlantic
City, will be in the chair.
incidentally Mr.. Spaid has lust
peen reelected chairman of the exec.
utiVe council OF the out-of-town sec.
ton of New York Stock EXCHANGE
firms. This is the organization which
was started last year, Mr.. Spaid he.
ing the first chairman in honor Of
the leading part he played in form.
ing such an association. Several sec.
tIonal meetings were held last wear
Whlcn proved most successful in al.
vancing the interests of hundreds NJ
ehese firms outside of Wall Street.
Federal Land Banks Report.
Total assets of the IL Federal Land
Banks at the close of business June 30
are given as $1,211, 652,7S6 and IiabiIi.
1es as 81 100000 in the consolidated
report or condition of the banks. issued
ny the Federal Farm Loan Bureau.
Nes mortgage loans of S1,130, CAT ,9OS
ana interest accrued but not vet due
of $1S.827,727 constitute the nrincinaI
assets of the banks.
Consolidated report Of the mint
STOCK land banks places their assets "a
1901, 3I5,133 and liabilities at $500.
o4S''io. Total net mortgage loans out.
standing OF the joint stock banks are
given total of $607 SIC, 796, and farm
loan bonds outstanding S576,531 200.
statement shows that the total loans
closed by the Federal and Joint stock
iand banks from time of organization
10 june 80 numbered 1854 and ag-
gregated SILL, 1885, 1909.
Heard in Financial District.
Executive Vice President John NJ
Rlordon of the Bank of Commerce &
savings will leave here tomorrow on
an extended Western tour. He will
visit Montreal. Bamff, Lake Lo,,isa
vancouver, Seattle. Portland. San
francisco. San Diego, the Grand
canyon and several other places.
PRESIDENT Wade H. Cooper of the
continental Trust Co. has reached
seattle on his tour Of the West.
-, w. Shoemaker. assistant cashier
OF me Potomac Savings Bank, is pass
ing MS vacation on Long Island.
wee President John D. Howard of
etne> seventh Street Savings Bank has
retulneu from three-week vacation
passed with relatives in Wisconsin
Cashier III. L. Selby of the Farmers
and Mechanics National Bank is
spending his vacation on West River
not far from Annapolis.
Ae recent meeting the board Of
directors of the American Bond IN
ueclareo q dividend at the rate of
per cent per annum on the company's
preferred stock for the period ended
j une 30, 1927, payable to stockholders
OF record June 20. 1927.
McFadden Act Interpreted
A general guide for selecting In.
sestnent securities which are legal
Tor national bank purchase under the
McFadden act, as put into effect bv
recent regulations of the Controlley
or the Currency, is contained in a
copyrighted legal opinion which has
been received by some local banks
from kiplinger, Babson & Jacobs,
oank representatives, Washington. for
whom IL was prepared by counsel.
Inc opinion does not attempt to list
those securities which arc