Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-09-18
CAPITAL TRACTION
REVENUES DECLINE
Competition Reduces August
Income OF Company by $685.
511 From Last Year.
BY EDWARD c. STONE.

Low-rate taxicab service, bus compe-
tition and private automobile transpor-
tation hit the Capital Traction Co. so
hard In August that there was a de-
cline In net earnings Of $33.5ll.81 from
August 1880, which was long before the
taxi-rate war ever started
According to the August figures pre-
pared for Ming with the Public Utilities
Commission, the Traction company's
total net income for the month showed
deficit Of SIT 03 against a net
profit of $16,103.7s in the same period a
year ago.
The financial statement shows that
operating revenues In August totalled
1894, 1886, against $314,513.96 in Au-
gust, 1880, a decrease Of $50, 378.50.
Operating expenses called for $685.
1885, in comparison with $246,034.89,
q reduction In operating costs OF &c.,
ell04
Taxes required, sl6,434.so, compared
with $22527.59 last year, q saving of
$6,09269. Deduction OF operating ex-
penses and taxes left the traction COM
pany with an operating income Of $l2,-
467T1 against S45,951 .48 a year ago.
Incorporating income was practically
the same as last year and the deduc-
tions from gross income called for the
same amount as a year ago.
The Capital Traction lines carried
s.153.418 revenue passengers in Au-
gust of this year. against 3,691,440 in
the same month in 1880. decrease Of
53S,022. August Is always a quiet
month with the local transportation
lines as many people are out OF the
city on vacations. It was the taxi
competition that made the most notable
tnroads In earnings, however.
Earnings for Eigh4 Months
Capital fractions earnings for the
first eight months of 1881 are more IA
vorable. Operating revenues were $2,-
655, 257.02, against S2,746, 220.91 in Au-
gust Of last year, q decline OF $40, 1858 .89.
Operating expenses totaled $685.
1877 02, against S2017 90S.59 year ago,
a reduction In this item of 65,02l 81.
Taxes were s6,423.44 lower than last
year. and total operating income for the
eight months showed a decrease of
about S19.500 Incorporating income
was also somewhat lower than a year
ego.
Gross income amounted to $5i4, 923.3o,
against $685., 038.56, drop of $40, 1925.
The usual deductions from gross totAled
S248. S94.2 %, compared with $244, 90T. 30
3 year ego, difference Of $3,9e6.36.
After all deductions the company had
a net income for the eight months Of
1896, o2e.O2, in comparison with $780,
1906 last year, q decrease OF $24,-
1ol.64.
Revenue passengers carried on the
company's lines totaled 30,ee0, $50. COM
pared with 35,491, 1893 q year ago,
slump of 1901 ,06o passengers.
While the August report Of the Wash
ington Railway & Electric Co. Is not
vet available. 1t is understood in the
financial district that the cut-rate taxis
IL ".
Ludington Line Has Profit.
The preliminary statement covering
operations of the New York Phila-
delphia and washington Airway Cor
poration fer its first complete year OF
Operations ending August 81 indicates
that operations on this system, known
as the Ludington Line. we're conducted
at a small profit. Gross revenue Tor
the year amounted 70 s576,B85. while
total expenses. including operating,
trafic and general expenses. overhead,
maintenance, taxes, depreciation, etc,
totaled $56S.812, resulting In . net
profit Of s8,073.
As far as known. this Is the first
time in the history OF commercial avia-
ton where a privately financed pasSen-
ger air line has been able to operate
at a profit without the assistance OF
any form Of subsidy, Government or
otherwise
Operating as the only hourly air serv-
ice in the world. a total OF $500 trips
were made by the lines ships, and
total of 1.523.569 miles flown at q cost
Of approximately 37i2 cents per mile,
an operation hitherto considered i'm
possible.
A number Of world records for trans
port afr operations also were recorded,
as follows: Highest single day trafIic
on record between New York and
washington, 378 passengers; between
philadelphia and Atlantic City, 24S
passengers: largest number Of paSsen-
gers carried in any one month, GIG;
two period records Of more than
1850, 900 motor miles without engine
failure: no forced landings away from
regular airports.
Today Trading on Exchange.
TWO local bank stocks appeared on
che washington Stock Exchange board
during today's trading. Twenty-Five
shares Of Federal-Americsn National
BANK a trust Co. stock sold. ex-
dividend. at 46 and three shares OF
Riggs National Bank stock changed
hands at $40.
There were two sales Of 100 shares
each in National Mortgage g. Invest
ment preferred at 434 and rs shares OF
Real Estate Mortgage g. Guaranty pre-
ferred at 61z. followed by 50-share
sale at 6sk. Peoples Drug Stores pre-
ferred sold at I0O94 and Mergenthaler
Linotype, ex-dividend. at 743s.
Bonds were neglected, the only sale
being in washington Gas Light IS.
series A. In the unlisted department
few changes in quotations were noted
during the week. The bid on Mayfiower
Hotel IS was reduced to IS and the bid
on washington Base Ball Stock raised
from 60 to SO.
Bond Club Starts Activities.
The Bond Club Of washington viii
inRugurate the Winter season next
wednesday, September 20, with lunch
con rendered all active members by the
oficers of the association, in the as
senbly room In the National Press Club.
The first meeting Is to be wholly infor-
NAL, no guests or guest speaker being
invited The clubs plans for the COM
ing season will be fully discussed, &C
cording To Lawrence M. Proctor, the
president.
Price Stability Encouraging.
Tne stability which has been shown
in commodity prices during recent weeks
Is a most encouraging factor. says the
United Business Service OF Boston. ii
this steaeiness IN prices continues, the
adjustments which are being made In
capital, wages and rents wiz become
effective. and some measure OF business
improvement will be made possible
Washington clearing house figures Tor
today: S3,6i8,833.82.
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