Evening star., 1927-11-27
CAPITAL TRACTION
EARNINGS SMALLER
Drop of S11,5O5.35 From
Last October Figures Shown
in Firms Report.
BY EDWARD c. STONE.

sion, the total net income for october
amounted to S64s6015, compared with
q net return in the same period in
1926 of SIS 5,36550. or a falling off this
year of $11, $685..
Total operating revenues for october
were S379333.lS as compared with
1892 ,046. 81 in 1926. Operating expenses
and taxes totaled $500 922.43 compared
with the sum of S293. .S0S.35. year
ago. Deduction of these TWO items
left the company total operating
income for the month of SSS,4l0.io
against the larger sum of $9S.23S.49
wear ago. The report further shows
that the company's lines carried
5.179,767 revenue passengers this year
compared with 5.409,315 wear ago:
The financial statement also carries
q summary of the earnings of the
CAPITAL Traction Co. for the first ~
months of the present year. TINS
shows a net income to date Of S017.-
5o243 in comparison with S6lo,l9l.bo
for the first 10 months of 1926. Inc
difference is due to the fact that the
street car company'S lines earned
50,435,9SS revenue passengers TINS
year against the larger figure of
1888 $50 a year ago.
Total operating revenues for the
first 10 months of this year were
1896, salts against $3.Sl6.774 last
year Operating expenses this wear
totaled S2,5S024 SO compared with
S2.622.73041 in the same period IN
1926. Taxes required 1907. .l50.1l, while
this figure last wear stood at >S?S,'
5000. After deducting the items for
expenses and taxes the company had
a net income from operations: ~, SSoS;, 81
249.7s in comparison with sS7o,SbS.59
in 1926.
Local Securities End Week Strong.
Prices held firm in very light trad
ing on the Washington Stock En-
change yesterday. The opening
transaction was in Washington Gas
6s, Series B, one $1,000 bond selling
at 107. the high mark for the year
recently attained in this issue.
CAPITAL Traction figured in three
sales, totaling II shares, at 109 la,
the highest price reached recently
Potomac Electric Power 512 per cent
preferred was also strong, two 70
share lots selling at 1865 and f1Ve
more shares at 1862. The only otnef
sale was in Federal American 20.
common, 25 shares moving at 81 p.
The usual Saturday calling OF the
unlisted securities took place, the
only change being the addition OF
an asked price of 103 for Chaplin
Sacks s per cent preferred. The
week as a whole was one of the
busiest on the exchange in severai
weeks. one of the outstanding fea-
lures being the activity in bonds.
How Millionaires Invest Funds.
How the average millionaire in
vests his funds is told in Trust Com
panies Magazine by James G. Smith
of Princeton University, his report
being based on a questionable and
personal interviews.
THE millionaire held on the aver
age So per cent in common Sloch'
10 per cent each in municipal bonds
and real estate or mortgages, Z per
cent in bank and insurance shares'
per cent in preferred stock ana the
rest scattered. ,.
The well-to- do man mot million
aire, had on the average "a per cent
of his portfolio in common stock, "a
per cent in real estate or mortgages
- ner cent in preferred stock, per
cent in municipal bonds, per cent
each in industrial and railroad bonus
and investment trust certificates ana
the rest scattered.
The average highly paid executive
had 33 per cent of his porttoho In
common stock, % per cent In reai
estate or IHOItSdcCSs - PHi
preferred stock, per cent In govern
ment bonds, 3 per cent in short term
securities and the rest scattered.
The executive earning from nVe TO
ten thousand dollars a year had on
the average 27 per cent in common
stock. 80 per cent in real estate OF
mortgages, II per cent in preferred
stock, per cent in municipal oonos,
! per cent in short term securltles
and the rest scattered.
The average professional man tlau
Is per cent in common STOCK 90 pei
cent in real estate or mortgages
ner cent in municipal bonds. per
cent in short term securities and the
rest scattered.
Mergenthaler Report Sent Out.
Local stockholders in the Mergen-
thaler Linotype Co. are receiving
comics of the annual report, the fnan
c,al statement being publlshed IeW
davs ago. President Dodge comments
on the net gain for the year from
ali sources of 81 1S02,55 and the sum
Maid in dividends of 81 $50. .OOO-an
amount in excess of that paid in the
preceding year.
The company now has urd"r con-
struction a reinforced concrete build
ing 800 feet long and 20 feet wide.
building in which to house the big Chi
cago agency was purchased during the
wear Mr.. Dodge calls attention TO
the extensive interests which the COM
nanv has in foreign lands. The lino-
type is now used in the composition
of more than so languages.
Buys Large Block Of Tickets.
President Julius l. Peyser of the Sc
curity Savings & Commercial Bank,
has bought tickets for the entire per.
sonnel for the coming presentation OF
Earl CAROLS "Vanities, 10 be gwen
on December at the National Thea
ter for the benefit of Washington
Chapter. American Institute of Bank
ing. Tickets for the wives of the
married men in the bank was includ-
ed in the gift. The bank president
did the same thing last year. thus
demonstrating in a most suOctantial
way his deep interest IN the educa-
tiSnal program at the institute.
Reservations are being made 1ery
rapidly in other banks and the affair
is Ger tain to draw a crowded house.
Notes in Financial District.
Much interest is being shown in the
local financial district in the proposal
of the House ways and means commit
tee TO reduce the tax from cents to
I cent on each Slo0 value In STOCK
transfers. 1t is hoped that Congress
will adopt the suggested cut.
Gov Roy A. Young Of the Federal
Reserve Board will address the an
nual dinner of the American Accept
ance Council in New York Decem.
ber l.
Wall Street dispatches say that the
directors of the American Ice Co. are
considering the declaration of so
cent extra on common stock.
The reduced sized currency TO be is
sued by the Treasury will not be avail
abe for general distribution for a