Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-05-01
CAPITAL TRACTION
MARCH NET DROPS
Slight Slump Reported Over
Year Ago-Fifth District
Banking Review.
BY EDWARD C. STONE.

compared with the same month last
year. In its monthly statement filed to-
day with the Public Utilities Commission.
Total net income amounted to $43,-
s47.15. compared with $45,69236 in
March. 1880, or a drop of $1,845.21.
Operating revenues amounted to
s344.19i91, against $353,562 a year
ego decrease of $s,37l.o7. Operating
expenses and taxes totaled S270, 962.23,
in comparison with $279,896.U a year
ago a saving this year OF S3.Su So
This left an operating income OF S73,-
22e. SO, against S73,69327 in March,
1880. a decrease of S463.59.
Deductions from gross called for $780,
sl5.77, compared with $29,526.67, dif-
ference of $9S9.10, leaving the above
stated net income for the month. The
traction company carried 4.lOl GIT reve.
niue passengers during March, against
4,T33.977 In March fast year, falling
of in traffic of 632,300 fares.
fractions First Quarter.
The Capital fractions summary for
the first quarter of 1881 showed total
operating revenues of $1,000. 4e8. % IN
comparison with 81 ,039 .906.27 in the
same month in 1890, decline OF $685.
407.68.
Operating expenses and taxes claimed
1908, $3.50, against 1887 1873. or q
reduction for the first three months OF
1880 of $33 5000. Operating income
totaled 5000, GAL, compared with $202,-
1888, a decrease of Sl,777,38.
The company reported non-opeIaC-
ing INCOME of $3.917.11. against S4,-
235.46 in the like period year ago
Gross revenues for the three months
totaled 1904 ,85811 compared with S2oo,-
o53e4 last year. The usual otner oe-
auctions amounted to S92, 1888 ~, IN
comparison with 500 407.83 in 1880, a
difference of $2,375.96.
For the first quarter the corporation
reported total net income OF viz
falling off in net of the small sum OF
S447I.69. It will be seen that the
sli1n1p is largely due to a decline IN
revenue passengers. 1l,9406l2 being
carried in the first quarter. against l3.-
e15,s32 in January. February ana
March, 1880, a decrease of 1,975,22O.
Fifth District Banking Review.
Debts to individual accounts in banks
In the reporting cities of the hItn
Federal Reserve district during the rVe
weeks ended April Is showed an m
crease of $66018, 900, or 81 per cent
over total debts in the preceding nve
weeks ended March II, the BANK ol
Richmond reported today.
Chairman Hoxton expressed the opln-
ION that the increase was seasonal
due. chiefly. to income tax payments on
March is and quarterly settlements on
Anril /. He added, however, tfat tne
seasonal increase was smaller TINS year
than In most years with income TAX
ravrnents on 1880 incomes proving con-
siderably lower than taxes PAID on IN
comes in other recent years:
Seventeen of the "a cities reported
larger totals for the April Is period, but
seven cities failed to show the usuai
Increases All of the larger centers eX.
cert baltimore and Norfolk reported
ioirnar fip1lres for the later five weeks.
Winston-Salem made the greatest per.
centage increase, with Charlotte ana
Wilmington second and third, re-
spectively.
Decrease in Debts.
a COMPARISON of the debts figures FOR
the five weeks ended April is TINS year,
with the figures of the corresponding
reriod ended April 16, 1880, showed
decrease this wear of $246. 381 900, or
1873 per cent, the largest decline SHOWN
in ary period for several years. Every
one of the "a cities showed lower totals
for the 1881 five weeks than for the
same period last year.
The cities and their total debts Ior
the five weeks ended April 10, 1881
follow: -,
more. S42s.3e4 900; Charleston, S: G.,
$40 o1, 900: Charleston, w. Va, S43;-
C,43 600: Charlotte, N. c., $55.193, 600;
Columbia. S. c., $28, 966,000; Cumber-
land Md, S9G7e 900: Danville. Va, 50, :
ss8. 600: Durham, N. c.. s28.650,0OO;
Greensboro. N c., $22 ,487,00o; Green
vile, S. c., s19.00l.00o; Hagerstown'
Md. $l0,435, 900; Huntington, w, Va,
sI8756 600: Iynchburg, Va SIS, 1920, 600;
Newport News Va. s12.119 900: Norfolk.
va. $54. 900, 400; Portsmouth, 1000;
Raleigh. N. c.. s23. 301 900; Richmond,
va. Sl42.501 900: Roanoke, Va, S29,-
100000; Sparta nburg, S. c., S1l ,699 900;
Washington, $290,882 900: wilmington,
N. c., sI5.20e, 900, and winston Salem,
N. c., s52,447,o00.
Today's Exchange Trading.
Trading was moderate on the Wash
ington Stock Exchange today. Capital
Traction held its recent strength and
sold again at "a Mergenthaler Linotype
moved around 80 and 8ol2, Railway u
Electric preferred came out at $751; and
10 shares OF Washington Loan 8, Trust
Co, stock sold at 432. Bond trading
was very light, being confined to Wash
tngton Gas Light issues.
The Norfolk e. Western Railway Co.
Is paying OF its 5o-year general mort
gage in the sum of S7.235 600. This
mortgage was a first lien upon the COM
pany's main line from Norfolk TO Bristol
Va, about 408 miles, The bonds were
taken up out of treasury funds and no
new financing is contemplated. The
retirement of these bonds Will reduce
the company'S fixed charges by $434,lOO
q year.
Joseph A. Broderick, New York State
superintendent of banks, has sent Q
letter to all savings banks in New York
State urging them TO invest their cur
rent cash receipts In short-term Govern
ment funds. Mr. Broderick points out
that this course Is advisable in view OF
the possibility OF heavy Withdrawals
that may be made upon the savings
banks when q turn comes in business
conditions.
Peoples Drug Earnings Gain.
Peoples Drug Stores, Inc, net earn
Snos for the first quarter were reported
today on the stock ticker as 1921 1853
after charges and taxes, equal after pay
rnent OF preferred dividends, TO 66 ccii.1
a share on 1873 43 common shares, COM
pared with $92 $50, or 40 cents share
on l27, 702 common shares in 1880.
This advance OF IS cents share or
the common SJocR Is coISlueFed ehcel'
lent. especially in the face Of so many
Unfavorsble earnings reports just now
being made public.
Cleaned in Financial District.
The large nMtss,er Of local holders
cf Packard Motor Car stock were deeply
interested IN the announcement that
the company has declared a dividend
of 10 cents per share Oh common stock,
LII T.tta 20. cfsa ff M1
is. In the two preceding quarters l5-
cent declarations were made, prior 10
which Is cents was nsfsd.
Directors of McCrory Stores CORPORA