Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-06-27
W.R.&E. CO. INCOME |
SHOWS A BIG GAIN
Net for May of S311,039
Compares With $274,156
in May of 1926.
BY EDWARD c. STONE.

BY EDWARD &. STONE.
According to the May report of the
Washington Railway & Electric Co.
filed with the Public Utilities Commits
sion, the net income for the month
was $311 .039S2, compared with $274..
1862 in May, 1926, or gain Oh
$50. 1888 40.
Total operating revenues amounted
to $506. 8S9.S4 while in May, 1875, they
amounted to $429,275.19. Operating
expenses and taxes were $420,O7b. Al,
against S352,196.23 in the correspond
ing month a year ago, leaving net
operating income of $86,Sl33S this
wear in comparison with S77,078.96 for
the similar period in 1875.
Returns for the first five months of
the present year are also well ahead
of the corresponding month last year.
Total operating revenues amounted TO
So ,496 .496 03, while in 1926 they reach
ed the sum of s., 037 .900.36.
Expenses and taxes were also larger
this year. being $2,052, 1887, While
wear ago these expenses amounted to
81 CSC, 800. 40, leaving net operating
Income Of $443.?2706 this year. against
1857 .092 SO a year ago.
the s months the railway and cleo
trio mopany had total net income
of S749, 995. 55, compared with the lower
figure last year of $622, 141.78.
In all comparisons. however, be
tween earnings of the street railway
company this year and year ago, it
should he taken into consideration that
the 1927 reports include the earnings
of the Georgetown & TenleytOWn and
the City q Suburban lines. which were
absorbed several months ago by the
Washington Railway & Electric Co.
AS both these lines have good edrn-
ings. they are a strong factor in the
total net income so far during the
present year. At this time last year
these two lines were making separate
reports.
Lewis HeaCi Virginia Bankers.
J. NJ. Lewis, president of the Bank
OF Gloucester, was named president of
the Virginia Bankers Association,
succeeding NJ. G. Field of Orange. f.
s. Shields of Farmville. was elected
vice president. The secretary, w. S.
Irby of Kenbridge, and the treasurer.
G. w. Beerbower Of Roanoke, were re-
elected.
The closing session was held at Vir-
ginia Beach late Saturday afternoon.
The convention was very largely at
tended and considered one of the best
in the associations history. The
Washington bankers. who were pres
emit, considered the discussion of
sweeping revisions in the Virginia tax
laws as the most interesting and i'm
portant matter before the session.
One of the final addresses was de-
livered by NJ. A. Kendall of Pitts
burgh, who made plea in defense
of big business. big business methods
and big business men. The elevation
of the Gloucester man to the presi-
dency was considered a reserved
tribute for his work for the associa-
ton in the past.
Among the Washington bankers
; present were Walter j. Harrison,
George A. Harris, Charles d. Boyer
and Charles w. Warden, who has at
tended IS Of the "a conventions so far
held.
Local Securities Strong Today.
Securities on the Washington Stock
Exchange We're strong today, the
largest volume of trading taking place
in Federal-American Co. common, 100
shares in five transactions changing
hands at 1884. Potomac Electric
sold at 101 Is and the 6 per cent at
los. Lanston sold at par for one
share, and five shares of Riggs Ma
tional came out at AIS.
Twenty shares of Washington Me-
chanics' Mortgage Co. common ap-
peared on the board today. selling at
IL. National Mortgage and Investment
preferred changed hands to the extent
Of $50 shares at s. Bonds were steady,
Gas 6s, series A. having a small turn
over at 1922, and the series B issue
moving at 1898 for a baby bond.
Washington Railway and Electric Is
sold at 8512.
The newly listed Potomac Savings
Bank stock appeared on the board for
the first time, PSF being bid, with
none offered
Southern and b. & O. Reports Out.
The Baltimore & Ohio had larger
May earnings than year ago, net
operating income rising to $4,000 $50
from $4,068,322. making the total for
the five months this year $17,401 ,223.
gaainst 1860 All in the same period
of 1926. May gross was $21,107.7 ia,
against $20,280,614 in May last year.
The Southern Railway system in
creased its net operating income for
May 10 S3,4lJ, 100 from S3,5bU,Z4b IN
May last year, although gross reve-
nues were $316.3S6 smaller Net for
the five months was S15,275,9 16.
against S17,423, 497 in the same period
of 1926.
Banker OFF for Vacation.
Edward J.. Stellwagen. president of
the Union Trust Co., leaves Washing.
ton tomorrow to pass the Summer at
the famous Poland Spring House, in
Maine. Mr.. Stellwagen has been an
annual visitor there for nearly 40
years and has an enyiable acquaint-
ance among the leading guests at the
Maine resort. Another Washington
banker. who will go there later in the
season is William j. Flather. vice
president of the Riggs Bank.
George 3. Chapman. resident part
ner of Hartman & Co., will sail for
Europe on July /, where he will pass
two months on the continent. He
plans to spend much of the time in
Italy.
The Washington Bank Women's
Club enjoyed it's monthly dinner at
the Little Tea House on Saturday eve
| ming. Several specially invited guests