Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-28
STREET RAILWAYS
NOTE DROP IN NET
Potomac Power Earnings
Also Off in January-Bank
Conference Praised.
BY EDWARD c. STONE.

e. Electric Co. and by the Capital
Traction Co. with the Public Utilities
Commission show that both street car
systems lost money in their January
operations, when the returns are COM
pared with January, 1880.
Only small slump in earnings is
revealed in the reports, but the state
good as in the same month IF the
previous year. And the higher car
fares granted several months ago did
not make up for the lower number of
passengers carried.
The January earnings report Of the
Potomac Electric Power Co. has also
been filed with the Utilities Commits
sion. This corporation likewise failed
to earn as large net as it did in the
same month in 1880. the decrease being
largely due to the milder weather pre-
vailing this year.
Railway G. Electric Report.
The Washington Railway g. Electric
Co. reported operating revenues iii jan
uary amounting to $423,442.81, against
e434, 484.96 in January, 1880. Operat-
ing expenses and taxes required $342,-
S30.26, compared with 1851 ,276.60 a
year ago.
Deduction of expenses and taxes left
the corporation with an operating In
come of 80,612.55, in comparison with
$83.208.36 in the corresponding month
in 1880. The company's incorporating
income amounted to $22,233.15, against
e25, 903.80 in January, 1880.
Gross income, less expenses and taxes,
totaled $102,845.70, against S109,112l6
in January, 1880. Deductions from
gross called for S55,136.O8, against ST.
1926 a year ago. These deductions
left the corporation with total net
income for the month amounting to
$47,709 so, against $51, $3.50 in January
last year, or a decrease of $3,909.88
The Capital Traction Co. reported a
decrease in net earnings in January OF
just a little over $4,000 Operating
revenues totaled $347, 1871 S. against
$358,43993, a drop of Sl0,94838.
Operating expenses took 1888, Asa .08,
compared with 1862 $3.50 last year. a
reduction in operating costs of So
111.42. Taxes claimed $27,060.04, against
e27, 52483 last year, leaving an operat-
ing income of $66,977.43, compared with
k68.34960, a decrease Of sl,37217.
Traction reported a gross income Of
69,576.34, against $70.980.17, drop
Of 81 ,404.43. Deductions from gross
called for $31 ,870.67, leaving a total net
income for January totaling 37,705.67,
airy, 1880, decrease Of $2,044.66.
Total revenue passengers transported
on the company's lines during the
month numbered 4,137,146, against
4,822,638 in January last year, a de-
crease of 685, 1872.
Power Company's Net Of.
The Potomac Electric Power Co. re-
ported January operating revenues as
A0RA net -
ago, decrease Of over $4,000. Reeve
nue. deductions totaled $495, 611.76,
compared with $469, 1924, an increase
Of $25,998.52.
Net operating revenues reached the
sum of $468, 838.77, against $497 ,942 Sc
Q year ago, a drop of over S29, 900.
Miscellaneous income was larger this
year in January, being $24,809.51,
against $14.752.28 in January, 1880, a
difference of more than $4,000.
Gross corporate income was $493,-
648.28, compared with $512, 694 "a a year
ago, or decrease of more than $4,000.
Deductions from gross corporate re-
turns required $70,991.33 against $78,-
4S7.l2 in January, leaving a total net
income of S422 ,656.95, compared with
$434, 207.82 in January, 1880, or a de-
crease in net amounting to $11 ,550.87.
AS announced yesterday, the Chesa-
peake d. Potomac Telephone Co. re-
ported better business in January than
did the three above mentioned corpora
tons. Telephone operating revenues
were $76l ,229, against $718978 a year
ago, while the company's net income
reached the sum of $136, ABB, compared
with $ll1.66S In January, 1880.
Bank Farley Officials Praised.
Just before adjournment of the Gen.
Gf0fAa ~ 10
Willard Hotel yesterday afternoon reso-
lutions were adopted declaring that the
conference had furnished distinct con-
tribution TO contemporary banking
thought and development, had been
highly educational and inspirational,
and that the discussions were bound TO
improve the technique of banking.
The resolutions expressed appreciation
and thanks for the constructive ad-
dresses presented, including the expert
ences OF practical bankers and officials
OF the American Bankers Association.
In conclusion, the resolutions expressed
gratitude to the officers and members
of the District Bankers Association,
who, as hosts, have in q mastery
manner looked after our comfort and
well being while attending the confer
ence."
The conference also showed enthusi-
which Robert v. Fleming presided at all
the sessions.
Many Bankers Remain in City.
Many of the bankers attending the
management conference which ended
yesterday afternoon, have remained in
the city for sightseeing and to attend
the Institutes twenty-seventh annual
dinner this evening at the Willard
Hotel.
o. Howard Wolfe. cashier Of the
Philadelphia National Bank, was the
last speaker on the program. he be-
ing assigned 70 sum up the highlights
OF the conference. This he did to per-
lection. He called attention to the
many new ideas offered by the
speakers.
He declares that good bank man
agement is organized experience" He
stressed the importance Of liquidity, in
vestment policies, Analysing of ac-
counts, elimination of excessive divi-
dend payments as among the most i'm
portant points presented; declaring In
his conclusion that in the management
of banks there is no substitute for
safety"
He believes that bankers should in
sist upon more and more information
when they are making loans. They
should not only be interested in the
amount of the loan, the rate and for
what the money is going TO be used
but should pay particular attention to
the certainty of the time and manner
in which it will be paid back. The
ability to pay is much more important
than the willingness TO pay, he de-
clared.
1t was announced today that between
800 and 700 will attend the twenty
seventh annual banquet of Washing
ton Chapter, American Institute OF
Banking, at the Willard Hotel tonight
The reception will start promptly al
8 o'clock, the banquet hall doors will
be opened at 6:l5 and the dinner start
at $40 MANY senior bankers have