Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-05-22
CAPITAL TRACTION
SHOWS GROSS GAIN
Figures for April So, 1912
Higher Than Those for
Previous Month.
By EDWARD c. STONE.

was learned today This is considered
an excellent gain, especially in view of
the keen competition from buses and
private automobiles
After all deductions Capital Traction
reported an April net income of $685.
1880 against S57,675.63. in April of
last year, an increase last month Of
$7.447.67.
Operating revenues showed a decrease
4 Of S8,961.l4 over April, $780, but oper-
ating EXPENSES were reduced at the same
time, being S242, 563.48, against $780,
692.64 year ago in April.
Revenue passengers carried on the
Capital Traction lines during April to-
tailed Abs, 463, in comparison with A..
782,964 in the corresponding month
year ago, a decrease of 597, 481.
Comparisons for the first four months
of the present year are equally inter
esting and important. Operating rev.
enues in this period reveal a decrease of
S44 368.82, but at the same time operat-
ing expenses were reduced by S49,933l5,
or from Sl.018.045.04 in 1880, to $685.
5Tl.89 in the first four months of 1881
Total operating income during this
period is reported as 293,780.29, against
S297,384.55, or an increase of $685. "A.
After all deductions Capital Traction re-
ports total net income for the four
months Of Sl77,197.62, against STA
Z2l.64, or an increase so far this year
OF S297598
The company has carried 16I26.095
revenue passengers against Is, 698, 1896 in
the same four months in 1880, a de-
crease OF 2,572,70l. The important point
IN the report is that in spite of the fall
ing of in revenue passengers and the
consequent slump in operating income,
4 the company has still increased net
earnings over the same period last year.
largely by reducing expenses.
Capital Traction now pays 81 a year
dividend. The figures show that the
dividend has been more than earned SO
lar In 1880. In the past three or four
weeks the stock has risen above the low
Tor the year, and the bonds have also
displayed considerably more strength
on the Washington Stock Exchange
At this time last year a good many
Capital Traction stockholders were
urged to sell their stock and buy GER
tain common stocks on the New York
Exchange. 1t is worth noting that
while some of the New York stocks
have held up well. others have dropped
smore than Capital Traction, and some
shave cut dividends and others have
omitted them entirely
d. C. Insurance OF Per cent.
Life insurance sales in Washington
in April fell off 9 per cent from April
1880. according to figures Just received
from Hartford, Conn Sales. for the
whole country averaged 16 per cent
lower than in the same month year
ago. The curve, however, has turned
upward
Delaware was the only one Of the 4S
States to show an increase, 4 per cent.
Next in the list came Massachusetts,
with l per cent loss. Indiana had 2
per cent loss and Virginia followed with
a 5 per cent slump.
Georgia and South Carolina were Just
below the District of Columbia, both
reporting a decrease OF 10 per cent.
Insurance business in Maryland was
down IL per cent, Florida II per cent
and Alabama and North Carolina both
18 per cent
West Virginia is way down the list.
with drop Of 80 per cent in April
business. Nevada stands at the foot
of the column new insurance in that
State being OFT SO per cent over April,
1880. 1t should be kept in mind that
these comparisons are made with a
period last year when sales were abb
normally heavy. The first four months
of 1881 reveal an average decline for
the Nation Of II per cent.
Bethune Heads Underwriters.
David s. Bethune. agency manager,
Equitable Life Insurance Co. Of New
York, was elected president Of the Dis
trict Of Columbia Life Underwriters
Association for the administrative year
193l-3 at a meeting held yesterday.
He succeeds John H. Snyder Mutual
Benefit Life Insurance Co. Of New Jer-
Sey.
Philip L. Baldwin, Northwestern Mu-
tual Life Insurance Co, wss advanced
10 the first vice presidency, succeeding
Paul2D. Sleeper, Aetna Life Insurance
Co: J. z. McConbs, Mutual Life In
surance Co. Of New York, succeeded Mr..
Baldwin as second vice president and
Daniel J. Harrison. Massachusetts, Mu-
tual Life Insurance Co. was elected
secretary. succeeding Alton G.. GrinneT,
gsTew England Mutual Life Insurance
Co. George B. Farquhar, Penn Mutual
Life Insurance Co, was reelected
treasurer.
Cleaned In Financial District.
George L. Starkey. president CT the
National Bank Of Washington. is among
, the recent visitors from Washington at
Atlantic City.
w w spaid of w. B. Hibbs e. CO. is
In New York attending a meeting Of the
Association Of Stock Exchange Firms
Of which he is vice president
Edward J. McQuade. president Of the
Liberty National Bank. attended the
monthly meeting Of the MeTgenthaler
Linotype Co. in New York He has
beer director many years
The members Of the Washington Bond
Club are holding their annual outing
and election Of officers this afternoon
and evening at the Manor Club The
usual mock stock exchange session wiz
be one Of the special program features.
Capital Traction stock furnished the
greatest surprise IL several years on
the Washington Stock Exchange TODAY
when seven separate transactions IN 90
share lots followed each other in rapid
succession, all at new high Of SO in
the present market.
The stock opened with 10 shares
Changing hands at IS fat The first
lOO-share lot then appeared on the
board at an advance Of a point Later
10 shares sold at 35l4 and closed with
10 shares registering 35l2.
Potomac Electric Power per cent
preferred sold at eX dividend at lI3
and the 81 per cent issue moved ey
sold ut lis and Mergenthaler Linotype
figured in one l00-share turnover
at 1914.
Bonds we're in fair demand. wash
ington Gas Potomac Power and Wash
ington Railway q Electric issues APP
pearing on the board. Prices were little
changed.
Recent Dividend Declarations.
The American stores CO. has de-
Clared the regular quarterly dividend
OF SO cents. payable July ! TO stock OF
record June J 5.
The American Telephone g. Telegraph
Co. has declared the regular quarterly
dividend Of s225 PR share en- the COM
mon stock, payable July IS 10 stock OF
record June 20.
S. s. Kresge Co. has declared the
regular quarterly dividends OF 40 cents
on the common stock and Sl.75 on the
preferred, both payable June 80 to stock