Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-07-30
CAPITAL TRACTION
NET INCOME DROPS
Reports for June and First
Six Months Reveal
Decreases.
BY EDWARD C. STONE.

the net income Of the Capital Traction
Co.. in June amounted to o,884.32,
against S49.O79.92 in June, 1929, or a
decrease of S8,213.60. For the first six
months of the present year total net in
come was off over 100000, compared
with the similar period in 1929.
June operating revenues. were report
ed to the commission as $340 623 05,
against 1859, 594.23 in June OF last year,
falling off of $18,971.23. Operating
expenses and taxes required S27l 1862 At
in comparison with 1882 ,47S.84 or re-
duction in operating costs of S10,7l6.37.
This deduction left an operating income
of S63,660.58, compared with S77ll5.44
year ago, or drop of S8,25486.
Comparisons for the first half year
are equally interesting and important
Total operating revenues Tor the period
amounted to S2.125,IT9.39, as against
$2,201 ,290.18 in the first half of 1929, a
decrease of S76.l10.29. Operating eX-
penseS and taxes absorbed 81 ,685, 432 10,
compared with $l,703, 460,08, differ
ence of Si7997.89.
Deduction of operating expenses left
an operating income OF S439, 6977O IN
comparison with S497,8I0.10 a year ago.
or falling off Of S58ll2.40. After all
the other usual deductions, the traction
company reported total net income for
the six months amounting to $780,
09l28, against $3.50, 298.50, or a slump
in net so far this year or SCI, 207.22.
The number of revenue passengers
carried on the company's lines in June
was 4,371, 1873, while in June, 1929, the
transportation lines moved 4,7l4,627, a
difference of 343 pa In the six months
under review the company carried 27,-
788,175, compared with 29172,558 a
year ago, or slump in traffic of 1,384,-
383
While the June figures reflect the
usual competition from buses and pri-
vately owned automobiles, the COMPETE
ton from the 35-cent taXicabs was more
severe than in any other month this
year. The officials. however, look for a
real improvement in the July figures as
they declare that the taxi competition
is not as keen as it has been and the
recent increases in carfares will also be
noted for the first time, although it will
not cover whole months period.
Trading on ID. c. Exchange.
Trading was rather quiet on the
Washington Stock Exchange today. The
first stock transaction was in Capital
Traction, nine shares selling at 81.
Lanston opened at lis for two shares,
followed by % shares selling at 112.
ESOD4GS 1IluS OlOlSS DAElGIIHu GAME
out at 1037s, Merchants Transfer g.
Storage, preferred, moved at 81, while
a very small lot of Mergenthaler Limo
type sold at 81. Commercial National
Bank stock came out at 225 and Steam
boat rights again sold at 10.
The largest bond sales were in Capt.
tai Traction SIS at 9414 and in Wash
lngton Gas IS, series A, at 1033s.
juno Wholesale Trade Smaller.
Wholesale trade in the Fifth Federal
Reserve District in June was in smaller
volume in five reporting lines than either
in May of this year or June, last year
according to Federal Reserve Bank of
Richmond
The biggest loss was shown in the
dry goods line, with a decline of 1913
per cent over June, 1929. Hardware
dropped Ill per cent; shoes. 9.8 per
cent; groceries, 81 per cent, and drugs
20 per cent.
For the first six months of the year
shoe sales are one-tenth of / per cent
below the volume for the corresponding
period of 1929. Groceries made the next
best showing, with a decline of but g
per cent. Drugs fell off 81 per cent, dry
goods 10.7 per cent and hardware 100
per cent.
Part of the declines, in comparison
with June 1929, we're due to price
changes, but in most cases the decreases
were more than the average price de-
clines during the year. In the total
sales for the six-month period che de-
clines in groceries and shoes, and pos
sibly in drugs, were due chiefly to lower
price levels for the year.
Stocks on the shelves of reporting
firms decreased in all lines except shoes
in June and were lower than stocks on
the shelves on June 80, 1929, with the
exception of shoes.
Collections in June were slower in
every line than in either May this year
or June last year.
American Stores Reviewed.
An analysis of American Stores Co.
stock presented by Standard Statistics,
New York, says:
.'Saleg during initial six months of
current year were IL per cent larger
than in similar period of 1929, although
because of increased number of stores
operated it is believed that average
sales per unit were smaller. Profits,
however, are understood to have de-
clined by about 3 per cent and, should
this trend continue during balance OF
1880 income is not likely to exceed 81
a share, as compared with $425 for
1929. Returns for 1928 equaled 1882
a share.
Financial condition at end of 1929
was strong, with cash and marketable
securities of S8.843,5l9, comparing with
current liabilities OF S4,694,l82. Capt.
t41ization consists solely OF l,55l ,f2o
no par common shares, excluding 209,-
675 shares purchased in open market
and held in treasury. Cash dividends
are paid at annual rate of So share.
In addition, an extra of $3.50 has been
paid each of last three years.
Now operates 2675 stores in Penn
JaTcaU Della
ware and District Of Columbia. Has
added 80 units since first of current
wear and will likely continue conserva-
tive expansion program during balance
of this year"
Cleaned in Financial District.
The income balance sheet of thu
Washinton Rapid Transit Co. Tor june
shows deficit OF S2,500.44, as compared
with S5o8.15 in June, 1929. The repor
shows a deficit for the six months
amounting to $3,728, against a surplus
of S12,8l6 year ago.
Hugh Reilly, ir who was recent!
elected a director in the Nationa
metropolitan Bank, to take the sea
left vacant by his father, the late Hugh
Reilly. was yesterday elected presiden
and treasurer Of the Hugh Reilly Co.
succeed his father.
Eliot H. Thomson of the Washington
Loan 81 Trust Co. is confined TO M
residence with a slight illness.
The David Fender Grocery Co, which
operates many stores in Virginia, ha
declared the regular quarterly dividen'
of 871a cents on the class A stock, pay
able September l to stock of recor'
August 20.
The Southern Railway estimate
earnings OF SO cents per share on tn
100000 shares OF common stock dur
ing the first six months of this year.
Bonbright g. Co., Inc, and w. {
Langley g. Co are Offering all add