Evening star., 1931-06-23

q decrease OF
6,911.04.
Oper ating ex- Z. L. HilIyer.
month totaled $252, ,O44s8, in compari-
son with $3.50, 6,036.02, in May, 1880,
decrease of $3,991.14.
Deduction of operating expenses and
taxes left the traction company with an
operating income of 81,158.14, COM
pared with $83,442.57, In May, 1880, or
a drop of $2,284.43.
The Capital Traction Co. carried
4.1l7,669 revenue passengers IN May Oh
this year, against 4,717,996 In the same
month last year, or a decline OF
600,337.
Total net income for the first five
months Of 1881 amounted to $228, 156.74,
in comparison with $228,206.96, show
ing a decrease In net earnings so lar
this year of just $5022.
The cause of this very slight differ
ence in net earnings, after t1ve 1ull
months operations, Is largely shown by
the traflc figures for the period. Total
revenue passengers for the first flve
months of this year numbered 2O, ,24S.-
754. against 23,4l6,792 in the like pc
riod, in 1880, falling on OF S,l73'OSS.
HiEyer Home From Vacation.
Edward L. Hillyer, vice president OF
4 ~
the washington Stock Exchange, was
back at his desk today after five or
six weeks vacation. He also presided
at the regular session OF the Exchange,
the vice president, G.. j. Gockeler, hav-
ing welded the gavel most ably during
his absence. Mr.. Hillyer passed the
first part Of his vacation at Bermuda
and the remainder on motor tour In
the Eastern States.
Today'S trading on the local Ex-
change found Lanston Monotype sell
ing at 80 and Washington Gas Light
stock changing hands at lis, both be-
ing small transactions.
There were seven 10-Share-lot trans
actions in Capital Traction, all at 35,
ex-dividend. Another sale OF seven
shares was recorded at the same price.
washington Railway & Electric pre-
ferred came out at SO and very small
sale in Potomac Electric Power 612 per
cent preferred took place at 1131a.
Bond trading was confined to two
$500 sales of washington Gas IS, series
B, at los, practically the same as the
last previous sale.
Details Of Insurance Report.
Further details from the report,
which showed that new insurance in
the District of Columbia in May was
of IL per cent, relate to conditions all
over the United States. The report
adding that the general decrease in
sales in May was experienced in every
section Of the country. The New Eng
land States showed the smallest loss
and were only per cent below the
1880 volume for the month. Two States
in the New England section, Maine
and New Hampshire, increased their
production. These were the only two
States in the country to record gains.
Next to the New England section,
the Middle Atlantic States had the
best experience for the month. These
three States pay for about one-thlrd
of the new insurance sold in the coun-
try. Their sales in May averaged IL
per cent below those of May, 1880.
For the first five months OF 1881
the United States as whole has paid
for a volume Of new insurance II per
cent below that of the same period
last year. No section has shown gains
for the year. The New England States
lead for the year with the smallest
decrease and the Middle Atlantic Sec
tion again ranks second. The sections
showing the poorest experience for the
year are those in which business was
further retarded by the drought, the
East and West South Central States.
Washington Business Opinion.
Standard statistics, New York, is pre-
senting summary of Washington opin-
ion of the business outlook. At one
point the summary says:
Contrary to general Washington
opinion, a thoughtful minority of OBJ
servers feels that new revenues must
be sought through the avenue Of higher
taxes. Agitation for some sort of sales
taxes is definitely increasing from
month to month.
washington opinion on the short
range outlook is that business activity
will decline in June and July, and Will
be relatively low IN August, but that
there will be slight recovery late in
the latter month. This pickup will be
irregular, and probably will not be spec
tacular. Crop money will come into cir
culation in great aggregate volume,
even though crop prices are low, and
the new blood will make new energy
in the economic body.
"a higher degree Of unity exists
among those committing themselves as
to the longer term. The consensus is
that 1882 will be a year of rising vol
umes. and that satisfactory business
should be restored by the end of 1882,
or the early part of 1888. This repre-
sents economic rather than political
thought"
Prince & Whitley Payments.
The Prince e. Whitley Creditors Cor
poration has sent letter to Washing
ton creditors of the firm stating that
the settlement will be smaller than had
at first been anticipated. Two main
reasons are given, one, the steady drop
in the price of securities since the
failure, and second, the abnormal num-
ber of legal proceedings instituted
against the firm laying claims to funds
that came into the hands of the re-
ceivers. The firm is pushing plans for
the payments of 25 per cent upon the
amount Of allowed claims to general
creditors.
Reserve Deposits Decline.
The Federal Reserve Boards condi-
ton statement of weekly reporting
member banks in leading cities on June
II shows decreases for the week of
SGT 900 600 in loans and investments,
S297, ,0O0,0 900 in net demand deposits
and $134,000,000 in time deposits and
an increase of 1901 100000 in Govern
ment deposits.
Holdings of United States Govern
ment securities declined $55,000,000 in
the New York district and increased
SOS, 900 900 In the Cleveland district,
.22, ,OOO, 900 in the Philadelphia dis
trict, Sl9,000,000 in the Atlanta dis
trict, SIT 900 900 in the Boston district,
$4,000 900 In the Richmond district
and $72. .0O0, 900 at all reporting banks
Holdings of other securities declined
$500 900 in the New York district
and 100000 at all reporting banks.
II