Evening star., 1928-12-04

Z.2O
against $258,41856 in October last wear,
Deduction of expenses left an oper-
ating income for the month of $91 .O3
against $88,41075 in October, 1927.
After all other deductions the net in
come for the month stood at $67, ,O58. So:
compared with $64.860.15, or a net gain
| OF S2,190.43 over the corresponding pc
ROD a year ago. Total revenue passen-
gers for The month numbered 5.l12,5l1.
against 5,179,767 in October, 1927.
fractions Ten Months Earnings.
Capital fractions operating revenues
for the first 10 months of the present
| year amounted to $3,6l3 504l0, against
! the higher figure last year of $685.
647.78. The company's operating ex-
penses totaled $2,540,932.30, compared
with $2,580, ,24789 in the corresponding
period last year.
Deduction of operating expenses for
the period left net operating income
of $783,393.24, against $8OS, ,249.78 a
year ago. After the usual other deduc-
tlonS, the company reported a total net
income of $515, 5,988.57, in comparison
with total net last year of $557 ,5024 43,
or falling off of SAL, ,51386.
/, Reports on the number of revenue
passengers carried on the Capital Trac-
ton lines during the 10 months are
also included. Up to the end of October
this year, 48,824,103 persons paid fares,
while during the same period last year
the total number of revenue passen-
gers was 50,43 983, this difference in
passenger traffic, of course. being
largely responsible for the falling off
in net earnings.
Gould Congratulated on Changes.
Ezra Gould, president of the Wash
ington Mechanics Savings Bank, is re-
ceiving hearty congratulations on the
completion of the extensive changes at
the branch on Georgia avenue Mr.
Gould founded this bank in 1906 and
the institution has never had any other
president. Steady growth has justified
his policy of leadership
The Washington banker was born
here, but spent his boyhood on his
fathers farm in Virginia. At the age
of II he migrated to the Capital with
just 70 cents in his pocket. His first
position was in the Washington Navy
Yard, where he intended to become a
mechanical engineer, at the same time
studying nights at George Washington
University. Later however he changed
his mind and entered the banking field.
In addition to founding the Mechan-
les Bank he also organized, 10 years
later, the Dupont National Bank and
became its president, holding this posi-
ton until it merged with the Merchants
Bank 81 Trust Co. The veteran banker
has always been fond of tennis and his
home is filed with cups won by his
prowess on the courts.
Local Securities Active Today.
The Washington Stock Market caught
the Wall Street spirit again today and
recorded lot of trading during the
session. Capital Traction again sold at
! its new high at 107 Potomac Power
per cent preferred came out at Ill u
and the per cent issue changed hands
at 1882.
Gas stock sold off fractionally during
the day. It opened at 1852 and closed
at 1855, five small lot sales taking
place. Railway g. Electric preferred
opened at 9934 and closed at 997s.
Columbia Sand & Gravel moved at
921s. Four shares of Peoples Drug pre-
ferred registered 1877.
Mergenthaler Linotype continued its
recent activity although sales were far
under yesterdays record. The stock
opened at 1861 and closed at los 5ss
the days sales reaching 90 shares.
Lanston also appeared on the Board, a
small lot changing hands at 118.
Bank stocks played their part in the
trading. District National changed
hands at 240, National Savings & Trust
moved at sos and Washington Loan &
. Trust sold around it's all-time high, al
SIS. Fractional Riggs National Bank
warrants were higher today, selling at
80.
Bonds were moderately active at re-
cent levels. There was $4,000 trans
action in Washington, Alexandra. &
Mount Vernon certificates at 2, this
issue very rarely appearing on the board
GIeanings in Financial District.
Two local banks have vacancies or
their boards due to the death of Charles
c. Murray. Mr.. Murray was on the
board of the Merchants Bank g. Trust
Co. and of the Park Savings Bank. The
Park Savings recently elected his son q
member of the board.
Secretary Mellon announces that the
terms of the Treasury's December Il
financing will be made public tomorrow
or Thursday. An offering of about
$500,000,000 in the form of certificate.
is expected by bankers. The interes
rate will quite likely be below that o1
the last Government offering.
j. A. w. Iglehart & Co., with office:
in this city, are offering new issue
of $225,000 Annapolis Dairy Products
Co. first mortgage 15-year 6 per cent
gold bonds with common stock pur-
chase warrants attached. The bonds
are priced at &c. to yield about 6.10 pei
cent. Application will be made TO list
the bonds on the Baltimore Stock Ex-
change.
John B. Larner, president of the
Washington Loan & Trust Co., gave a
radio talk Saturday evening on the
needs of the Near East, especially stress
ing the plight of children in countries
ravaged by war and marred by shifting
governments He announced that a
committee of Washington citizens is
raising 5000 for Near East relief, $685.
900 of which has already been pledged
Controller Makes Promotions.
John L. Proctor, recently appointed
deputy controller of the currency tc
fill the vacancy created by the appoint
ment of Deputy Controller E. Wiley
Stearns to the office of chief nationa
bank examiner, is a native of Min
nesota and received his early banking
training in Minneapolis and Seattle
Wash.
He served four years as receiver O
failed national banks, five years as ma
tional bank examiner and five years a.
assistant chief national bank examine
in the controllers office in Washington
His training and experience make hin
especially fitted for the office to which
he has been appointed.
Controller Pole also announced thu
| promotion of Second Deputy Controlle
F. G.. Await to first deputy controller
and Third Deputy Controller E. H
Cough to second deputy controller.
AEidd1a UTeet TTtiIitiac Co of Cbicao or