Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-06-22

|
year of S29l,764. william ~ Radon
The usual e. ""'"" =" "A"e"'
auctions from the operating revenue
left net income from operations O
94,5Sl,25, in comparison with an CD
Grating income of $99,579.89 in May: {
year ago. Other deductions left a ne
income for the month of S67,72827
y while the net income in May 1927
amounted TO the higher figure o.
S73248.36-
The moderate falling off in net in.
come for the month was largely due L
slump In the number of revenue pas.
sengers carried on the company's lines
Revenue passengers in May of this veal
tctaled 5i97,0l6, while in May, 1927
the number of passengers using tht
street Car service was 5,334,9S5.
Net Earnings for Five Months.
Net earnings for the first five months
Of the present year amounted tt
S309. 9oe.73. in comparison with net
income of S329,277.0 in the CORE
spending period last year.
/ The report to the Utilities Commits
sion shows operating revenues of 81,
$50, 950.50 In this period. against 81 1922,
! 004.22 a year ago. The company paic
out in expenses and taxes the sum o.
| sl,447.143.49, while this figure veal
ago stood at 81, 464, 2i8.99 This left ar
operating income of s442, S070l. com.
pared with the return In May, 1927, o.
| S457.7S5.23
With the lower net income for thu
five months it is to be expected tha
the number of revenue passenger:
would show a decline. The Capita
/ Traction lines were used By 25.503, 90t
revenue passengers in the first fivt
months of this year, while the number
year ago was 26,240,979.
In April of this year the compan!
reported net income of S7l,504.85 anc
revenue passenger traffic of 5,l40,9
It is interesting to note that while the
April net was larger than In May, the
number of passengers carried In May
showed an increase.
/ The company's reports for May and
the first five months of 1923 are par
ticularly significant just at this time
| when the Capital Traction officials are
seeking an advance In car fares
Address Arouses Wide Comment.
The address on "Fiduciary Relation.
! ships" prepared by William H. Bader
! and presented at the recent District oil
| Columbia bankers convention is still
!
! members of the association Mr. Baden
/ who is trust officer of the Washington
Loan g. Trust Co, has given fiduciary
functions vast amount of study.
/ In his address he took I'D many oil
| the problems with which local and all
other bankers are struggling as the
trust departments of banks are growing
In size and importance. Every day
something new in connection with this
kind of banking service arises that tests
| the trust officers ability to meet In a
! legal and practical manner. The field
includes almost every conceivable sery-
! ice in connection with the administra-
/ ton OF property Mr.. Baden touched
/ upon score of the most difficult points
I and in conclusion said:
Let us never forget that death is
! inevitable! The rich as well as the
| poor die: that the need for fiduciary
service viii continue as long as death
occurs. and let US also not forget that
/ the corporate fiduciary serves the
| public: that the best methods to fulfill
/ its mission to the public is as stated,
| excellence of service. Excellence In
such service Is not in lowering fees to
an Improbable degree, but rendering
/ 1t at moderate cost through an in
/ telIigent and conscientious admins
tration so that its service viii be a
benefaction to the public"
More Dividends Are Declared.
| At the weekly meeting of the board
! Of directors OF the National Capital
Bank yesterday the semi-annual divi-
dend Of per cent and an extra divi-
dend Of per cent were declared. Both
| are payable June 90
1 F4Am ~ L.
! city viii pay a semi-annual dividend oil
per cent on July 2 10 stockholders oil
/ record June %.
The National Union Insurance Co. oil
Washington is to pay .Seni-annua
| dividend Of per cent on June 30 te
stock of record June %.
The directors Of the Potomac Savings
Bank, in Georgetown. have declared the
regular sen9i-annual dividend OF pei
cent, payable June 80.
Land Bank Dividend Also Voted.
At recent meeting of the board OF
| directors Of the Potomac Joint Stock
| Land Bank, after setting over To re-
serve the amount required by law and
/ adding a substantial amount to earned
| surplus, declared the usual 3tz per cent
seni-annuai dividend, payable July
1
The bank is offering through G. r
| Childs IL Co. a new issue OF s500000
! AZ per cent farm loan bonds. The
/ total resources OF the bank are now In
excess of $1,000, 900. The capital was
recently increased TO 100000.
/ New Broker ONCE 10 Open Here.
Wegtheirner a. Co. win open brokerage
Offices on the first floor Of the Wood
| ward Building NEXT Monday. The Of
fees, which are being fitted 10 furnish
a complete service, VIII be In charge
| OF Harmer r. Reside, who Is member
Of the Washington Stock Exchange,
and has been active In the local finaf1-
cial district for the past five years
Westheirner 81 Go. are members OF the
New York Stock Exchange, Baltimore
Exchange, Salt Lake Mining Exchange
Chicago Board Of Trade. Cincinnati
Stock Exchange ard associate mem
beFs Of the New York Curb. They are
correspondents Of j. 8. Bache and Har"
ris winthrop
Local Securities Steady Today.
Washington Gas and Peoples Drug
were the features on the local stock
exchange today. A block 81 100 shares
Of Washington Gas moved at 9594. One
share of Peoples Drug sold at lob and
rs more at l077s.
Chestnut Farms Dairy preferred came
out at i04, Potomac Electric 5Iz pei
cent preferred at lot and Federal
American Bank stock at 33e. Wash.
ington Gas Is. series r., changed hands
at 1862 and 1861, and a $4,000 turn.
over In Potomac Electric Power IS wai
recorded at 1919 The ex-diyidene
list is the longest IL has been since thu
first Of the year.
Heard In Financial District.
Secretary Mellon announces an extern.
sion In time for the purchase of Thirt
Liberty loan "a per cent bonds a.
100 t-iB and aeeF;sed interest
The Washington Bond Club II haFini
It's FIRST annual outing this afternoon
al the Burning Tree Club, with q part