Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-22

w excursion rates,
n oyement of AZ
~,Iipment and ex- ~ ~
eriments with ON
buses, the report Fairfax Harrison.
VS.
While the automobile has taken fro
a substantial part of our paSSeng'
venue, 1t has at the same time mat
large contribution to our freigl
venue, no less than Is per cent I
aich last year was derived from tt
ansportation of automobiles and part
| and gasoline. road-building mate
as and other commodities whic
owed by rail to supply demands Gre
ed by the widespread use OF the auto
cbile."
Passenger revenue totaled S24,0l 6, 90
. 1928. against s26. TAG 900 in 1927, an
sight revenue totaled $l0S, $40 ,0Ol
.inst $iO9. 1871 900. Freight ton mile
1928 totaled s,4l2. 900, agains
.2S.575.o00 in 1927. and passenge
les totaled .714.476,000, against 1873,
1000. Most of the loss in passenge
tic was In short distance travel, tn
erage journey in 1928 being 1913
es. against, 81 Al miles in 1927.
fr. Harrison points out that cut o
go, 900 in expenses made to meet tn
rease in revenue would have beel
-er had it not been for floods, whicl
sed an outlay of $4,000 in main
ence of way and also loss In bust
;. Taxes. by States, counties ant
inequalities increased to the recor'
re of s7,56s. 900. but, Federal incom'
was lower because of a decrease il
cme and also in the tax rate. Elk
sion of the rayon industry. a lacl
Uniformity In profits by the textil'
.:stry and difficult times in agricul
were factors in the South in 1925
riding to Mr.. Harrison.
ne report said that in the past flv'
s the number of shares of the com
y listed in brokers names had de
,3ed more than so per cent. ant
: of 1.898.200 shares, only 372,00l
held in Wall Street. There wer
4 names added to the stockholders
in 1928, many OF them in Southern
way territory. the average holding
he new stockholders being 20 shares
previously reported. net income o.
road in 1928 was $1s, 267, 900, agains
699, 900 in 1927.
Southern Diaries Net Higher.
Ter the year ending December 81
!, Southern Dairies, Inc, today re.
led net earnings of $S03, 009.4 As
Sc figures are after extremely heav.
-ges and write-offs in the deprecia
:, reserve and are equivalent to ap
'gimately $50 o share on the "A
<. The above earnings show q de
. d improvement over 1927, when tn
ipany reported net earnings o
3,046.5O.
Due to the elimination of unprofitabl
ITS and the reduction Of funded deb
well as the addition to the organi
on Of new properties In Cuba, 1t Il
mated that the earnings in 1872!
be considerably In excess of So {
re.
The comparison Of the 1928 balanc.
1t with that of 1927 shows decides
,rovement in cash. with a current
1t position OF 4 to /, as compared
4 to l in 1927.
Capital Traction Sells Lower.
capital Traction was the feature or
Washington Stock Exchange today
IN the stock worked gradually lowel
I'll the finai sale Of single shar,
-nged hands at IS.
The stock opened with Is shares sell
at 96l2 after closing yesterday a
The next sales took place at 90 L
stock then went back to 961a ant
the next sale of 10 shares registered
1t then dropped point to 95 on {
and. two 10 share sales. Invent,
res sold at 95hs, and the final sal,
= recorded at 85 fiat.
All the sales were made with stool
ng quoted ex dividend. The fina
ed price was 9612, and the day.
mover 1873 shares. = Market observer
ign no special reason for the stool
ling of as 1t has during the pas
y sessions. The company has arnpl,
'1ds to continue the present divident
several years. One close student o
al stocks said today that many Wash
ton people had bought small lots G.
Capital Traction on merger pros
It's, expecting an extended advance
lay in the merger plans may hay,
Used some of these holders to decid
; reduce their holdings for the present
: said. F
Railway & Electric preferred agai,
4 at SO today in a fair turnover, Poto
= Electric 6 per cent preferred cam
Z at 1l3, Union Trust bank stocl
1ved at 352 and Bank of Bethesd,
Tistered S034. Federal American CO
-.lmon sold at 53I4, and most Of tn
IS In Mergenthaler. were made a
~. Merchants Transfer & Storag
>1fi1on changed hands at 129. =
n the bond division Chevy Chas
ID 512s sold at 1917. Potomac Elec
!, Power IS at l0alk, Railway g. Elec
: Is at 97la, Chestnut Farms Dair,
IS at 1862 and Potomac Electri
>wer Consolidated IS at 1914.
Heard In Financial District.
Vice President c. H. Pope of the Nun
Trust Co. has been in New York OF
'sineSs.
President Bertram Chesterman of tn
1rris Plan Bank is In New York on
0rt business trip.
Vice President Wilmer j. Waller @
: Federal American Bank has gone I
chester. N. Y. on business.
Frank M. lotion. who recently mad
brilliant address before local bankers
IS been made second vice presider
the Chase National Bank in Me-
Tx.
In spite of merger rumors galore i
Nv York and recent consultations 1
altimore and Richmond. local bank
e moving along smoothly with n
Installations in sight at present.
President william Montgomery of tn
cacia Mutual Life Association wi
reside at regional conferences to
I'D in jacksonville and New Orlear
. tie this month. when this years pre-
lction goals will be set.
r. Bascom Broun. jr.. who has bee
-sociated with Baker, Watts q Co., II
le past 10 years. has been appointe
',anager Of the Washington ONCE
1e Woodward Building.
The W. B. Hibbs employees will DANE
the Willard tomorrow evening, tt
fair being In charge Of Committt
hartman A. z. Henze.