Evening star., 1931-12-16
CAPITAL TRACTION
INCOME DECLINES
Decrease of S26,494 Report
ed for November, Com
pared to Year Ago.
BY EDWARD c. STONE.

their meeting yesterday.
Operating revenues tOtaled S297,-
s9&87. against s346054.4l in the like
period a year ago, a falling off OF S58,-
05554 Operating expenses and taxes
called for S24l 86O32, compared with
s273,48l So in November, 1880, reduc-
ton in expenses of S3l, 5000, leaving
an operating income for November OF
S46,l38.55, While last years operating
income in the same month was
72,57289 a decrease last month of
S26.434 34 Reductions frCm gross were
practically the same in the two periods,
leaving the net income stated above.
Revenue passengers in November
totaled 3455618, against passengers
carried on the company'S street car
lines in November, 1880, numbering
4,032 .297, q falling off in passenger
traffic of 576,679. This reduction is, of
course. very largely due to the cut-rate
taXicabS which have Leen operating in
Washington for several months.
Eleven Months Net Income.
For the first II months Of the present
year the Capital Traction Co. had cper-
ating revenues of 1888. l99.47, COM
pared with s3,794. .635 ST in the like Pc
rod. a decrease of $26l, ,43590. Oper-
ating expenses and taxes totaled
S2.893 ,3S232 against S3,056, 444.04 last
year, substantial cut in expenses
amounting to Sl63,06l,72. o
The company reported an operating
income of S639.817.15, compared With
S738.l9l 33, falling off so far in 1881
Of S98374l8. The incorporating in
come was almost the same as a year
ago. Deductions from gross were So
1871 more this year than in the like
II months last year.
Total net income for the period in
1881. after all deductions, reached the
sum of S316,75516 compared with
s4c1 .68787 up to the end of Nov
vember last year, or a decrease to date
in 1891 amounting TO Si02,932.71.
The figures on operations show that
substantial economies have been made
throughout the present year, so that
the reduction in net earnings has to
be laid almost wholly to the decline
in passenger traffic.
Revenue passengers in the II months
this year totaled al 429, TAP, while Al
7O2.149 paid fares on the companys
lines up to December l last year. the
slump in traffic being 6,2724O7 fares.
More Local Dividends Voted.
At a meeting of the board of direc-
tor of Merchants Transfer & Stor-
age Co.. held yesterday, the regular
quarterly dividend of Sl.75 share on
the preferred stock and a Seml-annual
dividend of $3.50 per share on the
common stock were declared. Both
are payable January l to stockholders
of record December 81.
Directors of the American Security
& Trust Co. have declared the regular
quarterly dividend of per cent and
also the usual 2 per cent extra which
has been paid by the trust company in
JANUARY for the past 10 years. Both
are payable on January II to stock
holders Of record December 81.
Federal-American National Bank &
Trust Co. directors have declared the
regular quarterly dividend of 2l2 per
cent on the outstanding stock, payable
on January l to stockholders OF record
December 26
At the regular meeting of the direc-
tors of Fede-al-Anerican Co. the reg
ular quarterly dividends were declared
on both the preferred and common
stocks.
District Eighth in Building.
Washington ranks eighth in Novem-
Der building permits reported by 579
cities and towns in the United States
to S. w Straus & Co. Permits in
Washington were valued at S1,1975l0,
compared with the higher figure last
year Of Sl,477,220, but above November
1929, with a total of S1.C40,320. The
November figure this year also shows a
decline from the October figures, which
stood at Sl,476.760.
Total November building permits for
the 579 cities and towns showed de-
cline of Is per cent from the previous
month and 40 per cent below the rec
ord in November 1880. OF the cities
which made a better showing than
Washington. New York headed the list
and Baltimore ranked third
Friends Honor New President.
Harry G.. Meem, who became presi-
dent of the Washington Loan & Trust
Co yesterday, was almost sWamped
with flowers sent to the bank by his
friends and business associates. His
Office, the one occupied so many years
by the late John B. Larner, was not
large enough to hold them. the over
flow being placed in the bank lobby.
The new president has assumed
charge at very prosperous time in the
banks history. He states that he has
just two hobbies, his home and the
bank.
ID. c. Exchange Trading.
Bonds we're the more popular issues
on the Washington Stock Exchange to-
day IN quite an active market. The
opening sale was $1,000 Washington
Ga, 6s. series A, which moved at 1904.
Washington Gas 6s, series B, opened at
103 + for $1,000 and $500 denominations
and later sold lower for baby bond.
Washington Railway 81 Electric as
came out at 81, while the bond market
closed with further sales in Washington
Gas 6s, series B. The first stock sale
was a l0-share transfer in Lanston
Monotype at IS. Small sales in Poto-
mac Electric Power 5l2 per cent pre-
ferred were recorded at 1862.
Heard in Financial District.
The December luncheon of the Wash
ington Bond Club. to be held tomorrow
noon at the Carlton Hotel, promises to
be one of the best meetings of the year.
Hugh Bancroft. the guest speaker, is
one of the leading financial publishers
OF the country and is certain to have
some most interesting information on
the near-term outlook in finance.
For the third consecutive week
wholesale prices again tapered off dur
ing the week ended December IL, &C
cording to the National Fertilizer As
sociations price index.
w. G. Kendall of the American Rail
way Associations Washington office
and H. E. Stringer. vice president of
the Hydraulic Press Brick Co. of this
city, will attend the eighth annual
meeting of the Atlantic States Ship
pers' Advisory Board in New York to-
morrow and Friday.
The Central Hanover Bank g. Trust
Co. Of New York has declared an extra
dividend OF 81 and the regular quar-
terly dividend of $3.50 per share.