Evening star., 1928-12-26
CAPITAL TRACTION
EARNINGS LOWER
Reports Filed for November
and Eleven MonthS-LocaI
Securities Steady.
BY EDWARD c. STONE.

the Capital Traction Co., filed today
with the Public Utilities Commission
operating revenues for the month d
November amounted to $354,977 66, ir
comparison with 1857, ,468.25 in Novem.
Der. 1927. Operating expenses required
S253059. against 1888, ,28581 in the cor.
responding month last year.
Total operating income for Novem-
ber reached the sum of STA 1881
against $8310896 a year ago. Follow.
! ing the deduction of all other expenses
/ the traction company reported a tota
net income for the month of $47,077,8l
in comparison with the higher figure
for the same month last year of $685.
790.26.
The number of revenue passengers
carried during November totaled 4,789,-
| 059, against 5,002586 in November
| 1927.
| The report also revealed the earnings
Of the company for the first IL months
| of the present year, total net income
amounting to 1868 3,06638, compared
with $614,292.69 for the first II months
Of 1927.
! Total revenue passengers also showed
a falling off, the number of fares COL
lected so far this year being 52,6l4,1 4,162
| against 5,438.569.
Local Securities Remain Firm.
Following the triple holiday on the
Washington Stock Exchange, business
was resumed today with prices holding
| steady in rather quiet trading In the
bond division, Chesapeake g. Potomac
Telephone IS of Virginia figured in a
| 81 900 turnover at 103. Three small
transactions took place in Washington
Gas IS, series A, at 1895, and $500
bond sold at 105A. There was $4,000
sale in Washington Market Cold Stor-
age SIS at 96.
Stock trading opened with shares
of Chestnut Farms Dairy preferred SELL
ing at 1861, 13 shares of Potomac
Electric 51as preferred moving at 1903 Il
and Washington Railway g. Electric
preferred selling at 99A. Federal
American Co. preferred sold at 1011a.
The only bank stock out today was
Riggs National, 20 shares selling at
SAT and two 546. After call, Potomac
Electric per cent preferred sold at
ll2 and 100 shares of National Mort
gage & Investment preferred at 512.
The list of local stocks now selling ex-
dividend is by far the longest it has
been in many weeks, nearly all the
stocks on the board being due to pay
Pope Pushes Convention Plans.
c.. H. Pope, vice president of the
MunSey Trust Co., who was recently
appointed general chairman to arrange
for the next annual convention of the
District Bankers Association, is giving
large amount of thought to the early
appointment of all the special commit
tees. 1t is presumed that the chairmen
of these various committees will be
named first and that the chairmen will
then cooperate in the selection of the
full committees.
Chairman Pope is naturally anxious
to make this years convention the best
one yet held. He; has been one OF the
most regular attendants at these gath
erings and has already served on most
of the leading committees. His expert
ence will count for great deal in help
| ing to plan an unusually strong pro-
gram for the business sessions as well
as for the social, golf and other events
| that round out the four-day gathering.
Bank Votes Dividends and Bonus.
The board of directors of the National
Bank of Washington at a meeting held
today declared the regular semi-annual
dividend of per cent and l per cent
extra on the capital stock of the bank,
both payable January to stockholders
of record December 81.
In recognition of the faithful service
rendered by the employees during the
year it was also voted to give each en-
ploye a half months salary as extra
compensation.
Rapid Transit Files Report.
The Washington Rapid Transit today
filed its monthly report for November
with the Public Utilities Commission.
Operating revenues for the month
amounted to $47,070.23, compared with
44.166.45 for the same month in 1927,
an increase of $2,903.78.
Operating income after deduction of
expenses and taxes amounted to
81 ,52350. against deficit in Novem-
| ber. 1927, of S1,89363, which means a
| gain in operating revenues in November
/ this year of $3,624.42.
| Revenue passengers carried during
November amounted to asa, ,695, against
425,681 in the corresponding month
last year, a gain in traffic of 29,0l2
fares.
Heard in Financial District.
The annual Christmas party of the
officers, directors and employees of the
National Metropolitan Bank was held
Monday afternoon There we're gifts
| for all and one of the pleasing features
| was the distribution of the per cent
yearly salary bonus. Charles l.. Taylor
was master of ceremonies, acting in this
capacity for the eighth time
Brig. Gen Henry c. Smither, U. S. A.,
who recently resigned as chief co-ordi-
nator under the director of the ma
tional budget, has joined the staff of
the Indian Refining Co. He intends to
devote his full time to the interests of
the Havoline organization.
Thomas H. Gurney. general passenger
agent OF Chesapeake & Ohio Railway,
has been appointed passenger traffic
manager, effective January /.
Farm Land Values Improving.
Lessening of the decline in farm lane
values has brought a more favorable
status of the farm real estate situa.
ton, according to the Bureau of Agri
cultural Economics.
Farm land values March /, 1928
brought the national average to the
level that prevailed in 1917, the bureal
announced. Reckoned as a percentage
of It's 1920 peak, the national average
March / had come down about a third
The bureau declared first mortgag,
money is generally in good supply, ant
that interest rates continue favorable
Farm taxes have increased slight,
during the past year and there seem
to be little likelihood of any marked
decrease the next few years. The onl
chance of a radical decline lies in tn
possibility of States and local revenue
systems making something other thar
sales values of real estate the criterion
of tax liability, 1t was declared.