Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-29
Net Income Shows Small
Slump During Month as
Traffic Declines.
EASTER is EXPECTED
TO REVERSE TENDENCY
Washington Stock Exchange Pays
Special Tribute to It's Late
President.
BY EDWARD c. STONE.

Co. suffered another moderate setback
in February, largely due to decline in
passenger traffic, according to the
monthly report filed with the Public
Utilities Commission.
Operating revenues amounted to 1912,
sl5.13 during the month compared
with 1927, 903.36 in February, 1880, a
decline of $15,0S8.23. Operating ex-
penses and taxes required $252, OBI "a
against 1857 ,227.85 in the same month
last year, a reduction in operating costs
Of SIS, 1861.
Deduction of expenses and taxes left
the traction company with an operating
income of $50, 1889. in comparison
with S60,675.5l, a difference Of but
S5S.38. Total net income, after all other
deductions, was S30,52l.5o, against
S31 1882 in February, 1880, a drop IN
net of $518s2.
The revenue passenger traffic figures
reveal further lnroads into street car
business by privately owned automobiles,
buSSeS and taXlcabS. Revenue passen-
gers In February totaled 3,701 ,7s9, while
the street car lines carried 4,359,217 in
the corresponding month a year ago, a
falling OF last month Of 657,42s.
Two Months Earnings Reported.
The statement filed with the commits
sion also summarizes earnings for jan
uary and February. Operating revenues
totaled $3.50, 500. 6s, against S6S6, 3l3 .2s
in the same period last year, drop OF
$26,036.6l. Operating expenses were re-
duced during the period, this item and
taxes totaling 1892, $3.50, compared
with $557,3l8l8 a year ago, q cut in
operating costs Of $24, 1882.
Operating income for the two months
amounted to $12771l.32. compared with
e1C0 nOE . I - . m
Capital Traction has gross income OF
$l30.495.19, in comparison with $751;
134.61 in January and February, 1880
or a loss of 81 1882.
After all deductions, the traction COM
pany reported net income for the two
months as $66,227.17, against $40, 1885,
slump In earnings of &2,626.4s When
compared with earningk last year, the
loss Is not large 50 far as the figures
tngs Is what the officials consider the
most significant.
Revenue passengers for the FIRST two
months Of the present year totalled
7,836,935 against o,1s1 1855 in the like
period last year, q decrease of / ,342, 900
tare-paying patrons.
That March and April will make a
better showing is certain as thousands
and thousands viii come to Washing
ton for Easter. The rush OF visitors
to the city is sure TO be reflected in
street car trafic.
Yesterdays Trading on Exchange.
Trading was comparatively light on
the Washington Stock Exchange yes
terday, the vice president, Edward l.
Hnlyer, presiding.
Capital Traction sold ex dividend TO
the extent Of so shares at IS, the price
which prevailed during most Of the
week. Washington Railway a. Elec-
trio preferred, which has been I'M
usually active recently, figured in a
turnover of 10 shares at 987s.
Two bank stocks appeared on the
board while leading bond issues drew
some attention. The days sales:
Capital Traction 5s-$l 900 at S0ia,
81 900 at 60la.
Georgetown Gas $500 at 104I4-
Washington Rwy. 81 Electric 4s-s2, 900
at s9%.
Capital Traction Coo at IS, 10 at
IS, 20 at IS.
National Capital Bank-lO at 224, 10
Commercial National Bank at 2l5.
FedeTal-American Co. com.-25 at 1914.
Washington Rwy. az Electric pfd.-l0 at
9s7s, 20 at 985s, so at 987', 10 at
985t.
Potomac Electric Cons. 5s-s1 900 at
lO3Sa.
National Capital Banks at 224.
Exchange HOnOrs President.
The Exchange adjourned out OF
respect to the memory Of George o.
Watson, president Of the organization,
who died suddenly Friday night from
a heart attack. Mr.. Watson was sery-
ing his third year as head Of the Ex-
change and had been a member and
Fl.
many years.
vice President Hillyer appointed the
following committee TO represent the
Exchange at the funeral: Eugene z.
Thompson, Charles z. Howe, 7. z,
Booker, James NJ. Johnston and c. J.
Gockeler Mr.. Hillyer viii also attend
Thomas w. Brahany was asked TO draw
Up the proper resolutions in connection
with Mr.. Walson's death.
The District Bankers Association also
took action on the death OF the hsad Of
the Exchange. who was also president OF
the Liberty National Bank. President
Ianier p, McLaohlen appointed spe-
cial committee to attend, naming the
presidents Of all the national banks In
The city.
Robert " Fleming, John Poole, Victor
b. Deyber, Georga L. Starkey. Joshua
Evans, ir.. George w. White, Wade H.
Cooper, Floyd E. Davis, Frank J.
6tryker and John B. Cochran. As al
ready noted, the rites will take place
Monday afternoon at 2 O'Clock at Cal
vary Methodist Church on Columbia
road.
Financial District Comment.
The Potomac Electric Power Co. and
Che Washington Railway 81 Electric Co.
%gill soon be settled IN the handsome
hew building at Tenth and E streets
northwest. The street floor sales rooms
ere most attractive and tn. Offices on
Che upper floors are the perfection OF
convenience and attractiveness.
Every one Of the five local trust COM
panieA reported increases in deposits TO
March rs over December 81, following
the bank call sent out by Controller
John w. Pole. It Is only rarely that all
the banks In one class. either national.
trust or savings, report nothing but
gains.
Directors OF McCrory Stores Corpora
ton have declared the regular quarterly
dividend OF 81 so per share on the pre-
ferred stock. payable May /, to stock
holders OF record April 90.