Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-29
Report Fails to Reveal Loss
Due to Fare Raise, In Effect
Only 8 Days of Month.
EARNINGS ONLY $8,456,
DESPITE LOWER EXPENSES
Reduction Attributed Almost En-.
tirely to Passenger Revenue,
Which Decreased $31,S57.

A decrease Of rs per cent In net in
come was reported by the Washington
Railway & Electric Co. today in its
monthly report for July, the first month
in which the new 10-cent fare was
effective. This enormous decrease Is
not entirely attributable TO the higher
fares, however. since the new fare went
into effect midnight July %, and con-
sequently only eight days of July re-
fleet conditions under the 10-cent fare.
Since these days are not segregated in
the report, 1t is impossible to tell from
1t how much Of the loss is due to
passengers who failed to ride on the
lines after the fares were put up
The report states that net income
for the month was $8,456.ss. In July,
1929, the net income was $3S, 4SS14. In
June, 1890, it was $36,0943e.
The loss is almost entirely attribut-
able to passenger revenue, the figures
show. In July, 1929, passenger revenue
Melted the company S36s,865.12. In
July, 1880, it had fallen to $685., 307.30,
drop of $31,S5782.
July Figures Compared.
In July, 1929, the cars Of the COM
pany carried 1,442,603 passengers who
paid a cash fare. In July, 1880, this
fell to 1,266,9e1. Token passengers for
the same months fell from 3,466, S97 TO
3,045, 1856. Adding these figures to-
gether. they show that in July, 1929.
the company carried total of 1909 500
pay passengers, whereas in July, 1880,
ff1fC Y1I1V11lnoV had fallen IN A 40 ut nF
a decrease of more than half a million
passengers, the exact figure being 597,-
323.
The report sets up for last month
operating revnue of S375 ,365.61; oper-
ating expenses and taxes, 1892, 208.52;
leaving a net operating income of $43,-
15T.09, TO which should be added nom
operating income of $2D,65047, making
total gross income, less operating ex-
penses and taxes, of $50, 60T.S6. De-
auctions from gross income for various
purposes amounted to SIS, 350.Se, leav-
ing the net income previously stated at
/ $S,456.98.
a similar set-lip for July, 1929, shows
| operating revenue, $42s.9S9.50: operat-
ing expenses and taxes, 1856, 1872 46.
leaving an operating income of $72.-
| 1904. To this should be added non
operating income of $73,923.03, leaving
| gross income less operating expenses
and taxes of SOS ,900.12. To this should
| be deducted certain items amounting TO
| $57, All 90, leaving a net income Tor
the month Of $38,48S14.
Expenses Cut Down.
! A glance at these figures will show
| that the tremendous drop In the net
| income was registered despite very
| substantial decrease in operating ex-
! penSes and taxes, which would seem TO
| show that in spite of the company's
| successful effort to cut down expenses,
| the desertion of pay passengers has
| lost them money.
william F. Ham. president Of the
/ company was sought in an edort 10
| discover some. explanation of the ig-
/ ures, but it was said at his office that
| he was out of the city. In a recent
| statement to the press Mr.. Ham had
! attributed the decrease in business of
his company to the inroads of cheap
| taxicab service, but he said that the
rate of loss had been fairly substan-
| TALLY checked by the increased cash
coming in as result OF the higher
| fare This statement was based on
figures taken on days after the higher
| fare was In effect, as against COM
parable figures for days under the old
fare.
The report of the Capital Traction Co.
for its July operations has not yet come
into the commission, but 1t is eagerly
awaited. Accountants Of the commits
sion thumbed over the Washington
Railway report today in amazement and
checked and rechecked the figures sew
eral times before making some calcula-
tons asked for by newspaper men. One
of them thought that the net income
figure must be a clerical error, but the
loss there tailed so closely with the
loss shown for passenger revenue that
| he was persuaded Il was correct.