Evening star., 1932-02-19
P. R. R. HAS INCOME
!. OF $19,%1,499 NET
Earnings of $1.51 Per Share
Shown in Republication
!. Cites Loss of Revenue.
BY EDWARD C. STONE.

BY EDWARD c. STONE.
The preliminary report of the Penn
sylvania Railroad Co. for the year end
ing December 81, just made to the
Interstate Commerce Commission
shows net income of S19,941, ,499, after
taxes and charges, equivalent to s151
q share (par 500 on l3,l62,699 shares
of stock outstanding at the end OF
the year
This compares with the net income
In the year 1880 of S68809,8l8, equal
to SIS % per share on the 13,038,7l1
shares of stock outstanding at the end
of that period.
During the year the Pennsylvania
Railroad paid out in dividends amount
ing to s36,l6l .8O5, against $50, 0,sS7
disbursed during 1880.
Traction Again in Limelight.
The January report of the Capital
Traction Co, showing severe slump
IN earnings compared with the jan
uary, 1881. figures, again brings this
widely held stock into the local lime
light
The decrease in earnings of over
$4,000 was due largely to the inroads
made by the army of taxicabs now
doing business in the same month a
year ago. One of the most interest
ing items in the monthly statement
revealed reduction during January OF
more than S19.24O19 That the COM
panys future earnings depend more on
an increase in traffic than further
cut in expenses is shown by a state
ment by President John H. Hanna in
his annual report recently, when he
said:
"A question was raised at the stock
holders meeting last year regarding
officers salaries 1t would. therefore,
seem desirable to call attention to the
fact that your company did not during
the years of the war and Immediately
afterward follow the general practice OF
materially increasing these salaries.
Twenty years ago the salaries of the
executive officers of the company totaled
S34,700, 10 years ago they totaled $44,-
900 and today 38,000'
Just now Capital Traction stockhold-
ers are watching two things with the
keenest interest-the disposition that
Congress will make of the merger propo-
siticn and for possible increase in
traffic on account of the Washington
Bicentennial.
Miller Orders Show Improvement.
Officers of the Miller Train Control
Corporation. which has Washington
Offices in addition to the home office in
Staunton. Va. reported recently that
orders had shown a most gratifying
pickup. making the outlook for 1882
much brighter. The present increase in
orders is reported to be from the manu-
facture of highway motor traffic signals
than from train control devices.
,1r - M nOk1 a &c
and Wisconsin avenues, in this city,
were installed by this company. H. B.
Miller. president and general manager.
reports that traffic men from all over
the country have come to Washington
to see the "three-movement traffic sig
nal control" in operation. Mr.. Miller
adds that these visits have already
brought in many orders from other
cities.
How the lights at this particular
street intersection operate is described
in great detail by w. A. Van Duzer
director of traffic in the District. in
an article in the American City, a
magazine published in New York.
Bankers Study Controllers Bill.
Controller Poles bill now before Con-
gress, which would give the controller
of the currency broader powers in regu-
lating the business of all classes OF
banks outside Of the national bank sys-
: TEN, is being closely studied by local
bankers. Some of the provisions meet
with their full approval, while others
have not brought out 50 much enthusi-
asm. Francis G. Addison, jr., chair
man of the Legislative Committee of the
District Bankers Association, has been
asked to offer suggestions from Wash
ington bankers as he has done in many
other banking matters pending in Con-
gress
War Against Hoarding Pushed.
William S. Quinter. secretary of the
Building Association Council of the Dis
trict of Columbia, declares that the
building and loan associations in the
city are doing their full share to help
the administrations campaign to draw
money out of hiding back into circula-
ton. Secretary Quinter bases his claims
on the January figures.
The figures are compiled from reports
made by members of tie Building Asso-
citation Council, which represents more
than SO per cent of the assets in build
ing and loan in Washington. The re-
port shows gain in assets for January
of 1854, 700, making total assets as OF
January 81, 1882, S82, $4,000 During
the month 34I new loans we're mace,
amounting to S1.256 000 and 1,218 new
accounts we're opened by the associa-
tions
I'VE feel that these figures are the
best proof that we are doing our part
to aid President Hoover in his fight
against boarding." says Mr.. Quinter.
Today's Trading on Exchange.
Capital Traction opened trading on
the Washington Stock Exchange today,
two small lots selling at 20. Lanston
Monotype appeared on the board, three
lots selling at 60l2, this stock now being
ex-dividend. Merchants Transfer &
Storage common came out today, figur-
ing in two sales at 95. The closing sale
was in Mergenthaler changing hands at
IS. Bonds were wholly neglected in to-
days dealings.
Seaboard Bond Issue Allowed.
1t was reported in Richmond today
that the receivers of the Seaboard Air
Line Railway Co. have received the ap-
proval of Judge Luther B. Way Of the
United States District Court to issue
SIS 100000 receivers certificates in
move by the receivers to take care of
the roads obligations for the next three
years.