Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-14
CAPITAL TRACTION
EARNINGS INCREASE
Gain of SO, 756 Is Recorded
for October Over 1929
Figures.
BY EDWARD C. STONE.

IAOhILny SteVeHlenG just mace PUBIC Dy
the ofiicials.
Net income totaled SIS, $50 90, in ccm-
parison with $4S,88l.57 In October,
1929. or an increase for the month of
$o,756.66. This compares with a gain
Of only about 1000 in September and
reflects the steady improvement in
earnings which the company has made
under the higher car fare rate.
Operating reveneus amounted to 1914
646.57 IN october of this year, against
$370, l0s.12 in the corresponding period
last year. This was an increase Of
$4,538.45. At the same time the trac-
ticn company cut operating expenses,
which this year were $256, 7S0.65, against
$263, 356.79 in October q year ago, q
reduction of $6576.14. The higher earn
tngs increased taxes $2,249.05.
Incorporating income was practically
the same as last year and deductions
from gross income were also practically
the same. The number of revenue
passengers totaled 4,333,5 against
4,927 ,095 in October a year ago. or a
loss Of 5e3,594. This. however, was
more than made up by the increase in
fares from six tokens -Jr 40 cents to
four tokens for 80 cents. It was the
third consecutive month in which an
unturn in earnings has been produced
BY the higher rate in spite Of lighter
trafic.
Ten Months Earnings Reported.
The report also summarizes the Cap
ital Traction earnings for the first 10
months of the present year. Operating
income reached $3,448, 580.96, compared
with S3,564,I65.78 up to November
last year, q decrease of $l15,564.S2.
Operating expenses required $2,517,-
1880. against s2.55S, AZ last year. a
- = r. 80 $3.50 n
995.75 under the requirement OF the
first 10 months in 1929.
After all the usual deductions the
corporation reported a net income dur
ing the period amounting to 1919 ,O28.52
compared with $446, 761 AZ, a decrease
Of $67,752.90.
Revenue passengers for the 10 months
totaled 4S,669 $50 against 47,272,8s a
year ago, a decrease of 3.603,038
Oficials expressed much qualification
today ever the marked improvement In
October operations.
A. q p. October Sales on.
sales of the Great Atlantic & Pacific
Tea Co. announced today, were $780,
ESQ .1ee for october. This compares
with Sos, 9o5, 10e for the corresponding
period a year ago, and shows de-
crease Of $5.034,9ls, or 4.75 per cent;
october 81 were 1901. l29, lie, compared
with 1856 ,940,565 for the same 10
month period in 1929, and Is gain OF
$44,1ss.6l4, or sic per cent.
Society Plans Golden Jubilee.
At q meeting OF the washington
Council Of the National Union Assur-
ance Society held last evening local
committee was formed to arrange plans
&a~ rv<av,a esaorof ir~ fhe enrfatv'R fiftteth
golden jubilee anniversary to be held
locally next May. The committee con-
gists Of J. A. Marshall, r. 4. Ferguson,
J. A. williams, j. 4. Rhodes, J. Harry
I, Jones and A. 8. Brown.
Addresses were made by F. A. Ryder
and A. o. Hurja of Chicago, who spoke
Of the Nationwide arrangements being
made for the golden jubilee program.
Heard in Financial District.
President wade H. Cooper of the
Commercial National Bank Is in New
York to attend the annual dinner Of
the American Academy Of Political
Science.
Vincent Saccardi, manager of the
local once Of the Metropolitan Life
Insurance Co., reports that his COM
pany has reached the 100000. 900 In
surance mark in Washington. He states
that the Metropolitan is the first COM
pany to place this amount OF insurance
In the Capital
The American Ice Co. estimates Octo-
Der profits at $4,000. after interest
but before depreciation and Federal
taxes, bringing the 10 month"; net to
$5.470, 900, against S5,27S,430 IN the like
period Of 1929.
The Advertising Committee of the
District Bankers Association had q
law nmmfinu at
the Raleigh Hotel yesterday, IN which
plans for the Christmas savings club
cooperative drive were given big
boost President L. p. McLachlen OF
the association was among those pres
ent. Chairman Thomson presiding.
The auditors section Of the District
Bankers Association had an unusually
interesting session at the National Press
Club last night Papers were read by
Raymond @. Marx and Robert A. Sisson.
Lanston Heads Local Market.
Ianston Monotype stock was the most
active issue on the washington Stock
Exchange today. The market opened
with so shares selling at i02, followed
by 10 selling at 10l. 10 more at l001s,
20 at 1904, and q final 1o-share sale
at 1904.
Capital Traction paid little attention
to the favorable earnings report for the
month of October, in which gain in
net earnings was noted. The stock
registered a turnover Of only IL shares
ct so.
Federal-American Co. common came
out at 81 and closed at 80, and 20
shares Of Peoples Drug Stores preferred
sold at 997s. This concluded stock
trading and interest switched TO bonds.
The bond market opened with 5000
A. EiANfVfN mAl1-
ing at Sta. Washington Gas IS. series
A. moved at 1903 and two $1,000 sales
IN capital Traction SIS were recorded at
as. A small sale in Potomac Electric
Power IS was recorded at 10434. The
market closed with two IS 900 sales In
Railway a. Electric IS at sT1z.
Treasury Issue Oversubscribed.
Secretary Mellon announces that the
Forthcoming issue Of si-day Treasury
bills has been more than four times
oversubscribed. The Treasury has ac-
cepted bids totaling $127. Ass. 900.
The National Dairy Products Corpor-
alton has increased its cash dividend
rate from 81 to $3.50 annually. The
increase Is In lieu Of the per cent
stock dividend paid in / per cent In.
stallment for q year or more.
The Interstate Commerce Commits
sion has authorized the New York, On
tario d Western Railway to issue
$3.50 900 Of general mortgage bonds
TO be pledged as collateral security fol
ehOrt-term notes.
The daily average volume Of Fedora
Reserve Bank credit outstanding dur.
tng the week ending November IL, as re-
ported by the Federal Reserve Banks
vas 9l,033 loo, 900, an increase OF
00,ooo. compared with the preceding
week and . decrease Of ee32, 0O0. 900
compared with the corresponding weel
In 1919.