Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-01-22
|HAM REELECTED
: ". R. &c. CO. HEAD
lBeII Again Chairman--Ne,
for Year S1,573,064.7O.
Passenger Traffic Drops.

ClHrleS r. ham was reelected preSi-
dent of the Washington Railway &
Electric Co. at the organization meet.
ing held by the directors yesterday
President Charles J. Bell. president O;
the American Security e. Trust Co
was again made chairman of the board
Tn, other officers reelected were:
S. f. Bowen. vice president and coun.
eel: A. G.. Neal. vice president and con-
troller: II. NJ Keyser. secretary: A. NJ
Fisher. treasurer; William l.. Clarke
assistant secretary-treasurer II. W
Kelly. assistant secretary. and V. d
Brooke. assistant treasurer. Earlier In
the day these directors had been re-
elected:
Charles J. Bell. Woodbury. Blair
Edwin c. Bran6enburg, Daniel J. Call
lshan, F. ". Doolittlc, Robert v. Flem-
ing William T. Galliher. Julius Gar
fnckel, Edwin Gruhl. William F. Ham
Robert n. Harper. Leonard H Mitchell
Clarence p. Norment Eugene +
Thompson and Harley P. Wilson.
President Ham Makes Report. .,
At the annual meeting Of the stock
holders President Ham reported gross
income for the year from operations
and dividends from the Potomac Elec-
trio Power9 Co. to have totaled
s7,le6.Il26i.
Operating expenses taxes and mis-
cellaneous charges we're S4,s46. $3.50;
interest on funded and unfunded debt.
$T4642a0l: dividend payments on pre-
ferred and common stock. ssi5,000.
The balance Of income for the year
credited 70 profit and loss was
&75S.o647o
The conlpany's net income for the
i2-mnnth period amounted 10 the sum
OF siS73.0s4 TO
Mr.. Ham announced that T5.T4e, 304
yavenue passengers we're carried on the
MRlpany's lines during the year, de-
Case from the 1926 figures Of l.oi7,-
Sco. or 1856 per cent. He said that
this company is not alone in the falling
<+off Of traffic EOS operating companies
In &c States having reported n decrease
OF lac per cent as compared with 1928.
Bus Revenues Grow Rapidly.
Bus traffic revealed a different story
Due 10 great increase in chartered
bus service ard relatively more passen-
gers paving their fares in cash than
formerly. the loss in street car revenues
vas wholly overcome and gain made
In total operating revenues OF over
$4,000
Mr. Ham called attention to the
liberia! expenditures each wear for
the past eight years in tracks and equip
fnent Twelve more one-riar cars were
ordered In 1927. Twenty new buses
srre also purchased These cars are
10 cost $4,000 and delivery be made
In February
The street railway president touched
or the merger subject when he said
that the matter had been referred 70
10 49, - f1-,k.i
Commission with the request that it be
given careful consideration He ex-
pressed the hope that some plan fair
n the pubic ana the securities holders
O. the companies involved might be
worked out
Also Reports for Power Company.
The Potomac Electric Power Co. sold
IL PR cent more pAwer than during
1925 During the year' 50 7e3.5 sos Was
expanded on plant and equipment. the
1er2-st oait.1v In ans cs.o year since The
formation Of tlle company. Expendi-
lures in excess of $3.50 900 are aiso
Considered necessary I'm 1923. Mr. Ham
Announced.
Tfl- Success q. the stock issue put out
list Hay among customers and en-
povrs was reviewed
Tl.e outstanding bonded deb. Of the
" SIgts AHg q ~ Gnu
subsidiary com 2anicg Including the
Potomac Electric Power Co. is now
s24.l2e.70o. Adding this 10 the si5.-
100000 capital stock Of the parent COM
paay and $1,000 $50 outstanding capital
stock Of subsidiary companies. makes
the total outstanding capitalization as
OF December 81. 1927. s4s.i23.55o This
excludes bonds purchased for the sink
Ing iunc and for temporary investment
How Securities Are Held.
TThe nunabsr Of stockholders OF the
Washington Railway a. Electric Co al
III" close o. 1927 &aS 202l. OF whom
1-l5s acre women. trustees charitable.
beneficial. religious and other similar
organizations. OF the total number OF
i. s.ockholderS l.220. or So per cent. are
rxsicer.s Of the District OF Columbia
The preferred stockholders Of the
Potomac Electric Power Co nov num-
bcr 5.707. OF these 3isT are women.
Trustees. charitable. beneficial or reii-
gtctis organizations. and 30 per rent OF