Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-18
TAXI COMPETITION
WIPES OUT HIGHER
CAR FARE REVENUE
Ham Reports Heaviest Losses
In w. R. & E. Passenger
Traffic in Years.
BUS SERVICE EXTENDED;
LARGE REPAIR OUTLAWS
Potomac Power Co. Enjoys Gain
Of Is Per Cent in Sales During
1930-Officers Reelected.
BY EDWARD C. STONE.


traffic noted on the Washington Rail
way & Electric Co.'S lines in several
years was reported in $780, according
to the statement submitted at the
annual meeting of the stockholders
yesterday by President William F. Ham.
Granting of higher car fares added
substantially to the income, but intense
taxicab competition then wiped out the
gain.
The financial statement shows gross
income of $7.259, 50l.97, which includes
$3.50, 303.76 earnings from operations,
and dividends from the Potomac Elec-
trio Power Co. amounting to Sl,701,-
1921. Operating expenses required
$4.735, 1871; interest on funded and
unfunded debt $653,724.83, dividends
on preferred stock $425,000, and divi-
dends on common S455,000, totaling
$6,269, 458.60.
The balance of income for year 1890
credited to profit and loss was $780,
04337, while miscellaneous items cred
tied to profit and loss totaled $780,
953.76. Total credited to profit and
Fewer Revenue Passengers.
President Ham reported that during
1880 the system carried 1896, 895
revenue passengers and 22,243, 1881
transfer passengers, or total OF co.
FAC. 276 passengers. In 1929 the COM
pany carried 74,319,070 revenue pas
1890 of 6,322,175, or 8.51 per cent,
and by far the heaviest loss in volume
of traffic handled for many years. Mr..
Ham presented figures showing there
was a decrease in traffic in 1925 of
SO per cent, in 1926 of 81 per cent,
In 1927 of 1876 per cent, in 1928 Of
ITO per cent, and in 1929 of .19 per
cent.
1t has been a year adversely affected
BY general business depression, Mr..
Ham continued. and by increasing
street traffic congestion. Outstanding,
however. as an adverse factor is the
unregulated taxicab competition which
became acute about March / and still
continues. The automobiles registered
In the District of Columbia in 1880 for
hackers and livery tags totaled 4l673,
an increase over the previous year OF
Al per cent which indicates the volume
of taxicab service now on the streets OF
Washington.
The District authorities have sought
legislation by Congress whereby power
to regulate the operations Of all taxi
Public Utilities Commission, but as yet
action has not been taken on such
legislation.
On the other hand, revenues have
been favorably affected by the increased
rates of fare which were put into eff
feet July %, 1880. Since the new fares
became effective. actual gains were re-
corded In September October and De
cember while losses in August and No
vember were much smaller than in
March and July The benefits, how
ever resulting from the higher fares
have only been sufficient to overcome
the losses attributable TO unregulated
taxicab competition, Mr.. Ham asserted.
Heavy Construction OutIayS.
The amount expended for reconstruc-
ton, renewal and repairs to buildings
and to track and roadway totaled
S693, 032, an increase over the previous
year Of $50, 1923 There was rebuilt dur
ing the year 1882 feet of underground
conduit track and 9.046 feet of over
head trolley track, at cost of 1863 900
I'VE have again made liberal appropri-
alton Of funds, President Ham continued
"for the expansion of our bus service
In 1880 we increased the feet of buses
20 123 by the purchase of % yellow
coaches at a cost of $176,133. The
total investment in buses now aggre-
gates S860,446. A modern garage on
Georgia avenue cost $3.50 600"
Mr.. Ham said that the status OF
merger legislation is practically the
SAINT d ululCdDEu III Lie 4dSL dllIludI
report. The Public Utilities Commits
sion has recommended to the present
Congress legislation similar to that pre-
viously submitted. The companies are
now cooperating with the Utilities
Commission in the revaluation of both
local traction lines.
Pepco Business Again Increases.
President Ham reported that the Po-
E1ppfrfn m had again
enjoyed an increase in the volume of its
business. In 1880 it sold 1892, 780
kilowatt hours, an increase of 10 per
cent over the previous year. The ex-
pansion of the company. he said re-
quires the expenditure Of further large
sums during 1881, which aggregate APP
proximately $4,000 600.
Comparisons were presented between
rates and conditions in 1880 and 1924
the date on which present profit sharing
agreement went into effect, the informa-
ton having bearing on the present rate
readjustment problem. Since the de-
cree first went into effect there have
been seven rate reductions, the report
said.
The total payroll for the year 1890
of the Washington Railway &, Electric
and subsidiary companies, including the
Potomac Electric Power Co, was S.
3l2,28582, an increase Of Sl36, 033 81
over that of the preceding year. There
are 3,l26 employees in the service of the
Washington Railway g. Electric Co.'S
system. Of whom / ,46l are in the employ
Of the Potomac Electric Power Co.
The record of stockholders of tbs
Washington Railway g. Electric Co. al
the close of 1880 indicates a total o.
1878, Of whom $50 are women, trustees
charitable, beneficial and religious
organizations. OF the total stock
holders 70 per cent are residents of tht
District of Columbia
The preferred stockholders of tbs
Potomac Electric Power Co. now num-
Der 5,l78. OF these 1884 are women
trustees, charitable, beneficial, religious
and other similar organizations, and IS
per cent of the total are residents O!
the District of Columbia.
Same Directors Reelected.
The board Of directors was elected
consisting of Woodbury. Blair, Edwin c
Brandenburg, Daniel j. Callahan. F. w
Doolittle, Robert " Fleming, Juliui
Garflnckel, Edwin GTuhl. William F
Ham, Robert NJ Harper, Cloyd H. Mar
win, Lennard H. Mitchell, Clarence F
Nofment, Eugene e. Thompson ant
Harley p. Wilson. The directors elected
officers for the ensuing year as follows
- William +. Ham, president; s. Z