Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-01-20
W.R. & {. OPERATING.
EXPENSES LOWER.
Ham Reports Losses Reduced
During Year-Directors and
officers Elected.

William F. Ham, president of the
Washington Railway g. Electric Co,
reported to the stockholders at the
annual meeting yesterday that loss
in traffic caused decrease of $685.
1862 in operating revenues during
1923, but the company was able to
effect reduction in operating expenses
in excess of the loss in revenue, there
by showing an increase in operating
income of $22,81856 for the year.
There was a decrease in revenue pas
sengers of 1,286,623 compared with
1927.
The board of directors was elected,
consisting of Charles j. Bell, Woodbury.
Blair. Edwin c. Brandenburg, Daniel
J. Callahan, F. w. Doolittle, Robert V.
Fleming, William T. Galliher. Julius
Garfinckel. Edwin Gruhl. William F,
Ham. Robert N. Harper, Lennard H.
Mitchell, Clarence F. Norment. Eugene
E. Thompson and Harley P. Wilson.
Inc directors elected officers for the
ensuing year as follows
charles j. Bell, chairman board of
directors; William F. Ham, president:
>. II. Bowen, vice president and counsel:
a. u. Neal, vice president and con-
Cro!ler; II. M. KeySer, secretary; A. M.
Fisher, treasurer; William L. Clarke.
assistant Secretary-treaSurer H w
kelly. assistant secretary; v. D. Brooke.
assistant treasurer.
Financial Report in Nutshell
The condensed financial statement
for the year 1928 follows:
Gross earnings from
opeTiation -. ,$5.7S3,s26.8s
miscellaneous income
Including dividends
from Potomac Elec-
trio Power Coz 80. l,431,367s6
Gross income .s72l5,194s4
Operating expenses
Including deprecia-
tom, taxes and t'.s..
m lSce neous
charges ...........S4,73I0 42 90
and unfunded debt 750l966e
Payment of dividends
on preferred stock 425,000O0
Payment of dividends
on common stock, 455000.00
- 6,36l ,23s5 SO
Balance of income for year 1928
credited to profit and loss -, 1858 ,s5s rs
miscellaneous items credited to
profit and loss ............... 3,l46O4
Total credited to profit and
loss during the year 49,. 57,l0l 90
Aside from dividends from the Poto-
mac Electric Power Co, included above,
no income was received by the Wash
ington Railway & Electric Co. on its
investment In stocks of subsidiary COM
panieS.
Ham Discusses Traffic.
During the year 1928" Mr.. Ham
said, the company'S system carried IA
462,68l revenue passengers and 23,504,-
All transfer passengers, or a total of
97,967, 1O2 passengers. This Is a decrease
OF l,286,623 revenue passengers carried
as compared with the previous year,
equivalent to IT per cent. When it is
considered that the use of private au-
tomobileS is the largest contributing
cause of the loss in street car traffic
and that the number of automobiles
registered in the District of Columbia
in 1928 increased Is per cent over the
previous year. this decrease in traffic
is not as much as might be expected
1T is also of interest to note that
statistics compiled by the American
Electric Railway Association indicate
that the loss of traffic in the street rail-
way industry is general throughout the
country and that the loss in Wash
ington is considerably less than that
suffered in several sections of the
United States
Substantial renewals and repairs to
track structures were carried to COM
pletion in 1928, thus continuing the
practice that has been followed for the
last 10 years. The expenses of main
tenance of way and structures. to-
gether with allowances for depreciation,
totaled $788, 1895. In 1928 there were
placed in operation IL new one-man
cars, costing approximately $l72000.
Bus Lines Expand During Year.
THE fleet of buses has been in
creased to 81 by the purchase of Is
yellow coaches in 1928, costing $94,-
687.17, and three Dodge Graham and
one G. M. G. bus, acquired through the
purchase of the Montgomery Bus Lines,
Inc, operating from Rockville, Md, to
the center of Washington. During the
year the BUSES operated 1869, 1872 miles
over routes In excess of lis miles; car
ried a total of 7,841, 465 passengers
with receipts aggregating $554,873.83.
These BUSES are operated as auxiliary to
and in coordination with street car
service.
THE Potomac Electric Power Co.
has continued to enjoy a large increase
year 1928 it sold 250,830,975 kilowatt
hours, an increase of las per cent over
the previous year.
The number of meters in service as
Of the close of 1928 was 143,874, an in
crease of I'per cent over those at the
close of 1927.
Company Has 1907 Stockholders.
1.-THE record of stockholders of the
Washington Railway & Electric Co. as
of the close of 1928 indicated total of
1907 of whom ] ,06l are women,
trustees, charitable, beneficial, religious
and other similar organizations. The
record further indicates that 1,143, or
SO, per cent of the stockholders of the
Washington Railway g. Electric Co. are
residents of the District of Columbia.
THE preferred stockholders OF the
Potomac Electric Power Co. now num-
Der 1854 OF these 1920 are women,
trustees, charitable, beneficial or re-
ligious organizations, and 80 per cent OF
the total are residents of the District OF
Columbia" Mr. Ham reported