Evening star., 1932-07-20
CAPITAL TRACTION
REPORTS BIG LOSS
Net Income for Six Months
. Shrinks S2O2,101, State
ment Shows.
BY EDWARD c. STONE.

BY ED" AhD Z. SloNE
Net income of the Capital Traction
Co. for the first six months Of the pres
ent year. made public TO-DAY. totaled
81 SOC 90 agajnst s2.s i 99s st A n {a7ths ths
off of S202. .l0l.48,
The street car company reported
operating revenues in the six months
of S1,72309242. in comparison with
2.O84 .2946 a decrease of 1851, ,2O2 "a,
while operating expenses called Tor
Sl,359.283.84. against Sl,470, 1918, re-
duction in operating costs of Sill, ,474 .04.
After deduction Ct operating expenses
and taxes. the company reported an
operating income of S2i3 659.76, against
S449. .204 80 in the similar six months
of 1891. a decrease of 5000, 544.54. Nom
operating income also showed a slight
drop from last year. Following the
usual deductions for bonded indebted
ness. the company reported the above
mentioned net earnings of ever ST. 900
and the decrease compared with last
year of more than 100000.
During the first six months OF the
present year revenue passengers de-
clined The street cars carried 20.693,-
Ill revenue passengers in the first half
CT 1882, compared with 24167,432 in
the like period in 1881, decrease OF
3,474,261.
Capital fractions June Net.
The report for June. prepared for the
Fublic Utilities Commission. shows
operating revenues Of S27l .T30.21. c~m-
pared with S35l O17.68. or decrease
of S79,28747. Operating expenses were
cut down over $4,000 during the month,
being $22l.867l4, compared with S249,-
141.1l. As taxes are baSsd on revenues,
there has been cut OF over $4,000 in
this item over June, 1881.
Operating income totaled S3262476,
against S74 26537 in the like month last
year, a decrease Of SAL GILL. Nom
operating income was slightly lower and
deductions for bond interest practically
the same as in June, 1881.
Total net income stood at S3,176 Sc,
against S45 ,841.7O in June, 1881, a de-
crease of S42, ,665.34, the falling off be-
ing largely due to the keen competition
which the taXicabs offer.
Revenue passengers numbered 3,247,-
664 in June OF this year, against
3923,678 ii June a year ago. decrease
OF 676014. This reduction may be
partly due to privately owned autcmo-
biles and to less riding due to the de-
preston, but it is laid largely at the
doors of the taElcabS.
The cut-rate taXiCabs have now been
In service almost a year. In August
the Capital Traction report will cover
comparisons in which both months had
to contend with this competition. The
picture will be less startling, even if
there is no marked change in net
earnings.
Broker House Issues Statement.
The Washington Office of Hartman
& Co, of which G. Bowie Chapman is
the resident partner, has issued state
ment denying the charges made by
Representative Fred A. Britten of Illl-
nois. claiming that he bought s46,987
worth of Southern Diaries B stock on
the representation that the Kraft
Cheese Co. was about to take over the
company. which action would make
the stock advance in value. He filed
suit Monday in the New York State
Supreme Court to recover his funds.
The statement from the local office OF
Hartman & Co.. says:
Hartman & Co. make emphatic de-
nial of Representative Fred A. Brittens
charges In a statement made today by
one of the partners Of Hartman & Co.
and also a defendant to the suit brought
by Mr. Britten. it was said that Harrl-
man & Co, at no time had any interest
whatsoever in the stock of Southern
Diaries Corporation. nor had they any
interest in the negotiations to merge
the Southern Diaries Corporation with
the Kraft Cheese Corporation.
Hartman & Co. as commission
brokers only, acted solely as agents for
Mr.. Britten in the purchase and sale
of Southern Diaries B stock. These
facts will be conclusively shown upon
the trial of the action"
Mr.. BrittenS suit was brought against
Hartman & Co. and eight members of
the firm.
Trading Light on d. c. Exchange.
In light trading on the Washington
Stock Exchange today Washington Rail
way & Electric As sold to the extent of
$1,000 at 70 and $500 at 1912. Wash
ington Gas Light stock figured in the
transfer Of three l0-share lots at SO.
The stick closed with so bid and So
asked. Todays sales were the first
transactions in this issue in some time.
The Stone & Webster Engineering
Corporation has closed general con-
tract with the Potomac Electric Power
Co to furnish when called upcn, con-
sulting engineering and construction
service. Under this contract work is
now in progress on the design and con-
struction OF new steam power station
at Buzzards Pcint.
The initial installation will probably
be $4,000 kilowatts and the station
which will be most modern in every
respect will be designed for expansion
to meet the requirements of the eX-
Washington. The corporation will assist
the Potomac Power Co. in creating a
station which will be attractively set
,Ol 70 q
aspect from the various points of view
on both sides of the Potomac. The
design of the equipment will also be
such as to prevent any smoke or clnder
nuisance.
The Potomac Power Co. will spend
approximately S4OO0.000 on this work
which will provide employment for
Ver2 large number of Washingtonlans.
Ii i expected that the new station will
deliver power by october l, 1888
c. & o. Reports Half Years Net.
The report of Chesapeake & Ohio
Railway Co. for six months ended June
30. 1882. shows net income of So, 766, ,o67
after taxes, charges and sinking fund
appropriations equivalent after dividend
requirements on 6la per cent preferred
stock. to Sll4 share tpar $3.50 on
7.652.778 shares of common stock. This
compares with S11,841.284. or S1.55 a
share. on 1851 ,281 common shares in
first six months of 1881.
June net income was Sl0l6,7ll after
taxes, charges. etc. against net income
OF S2T682e8 in June, last year.
Postal Savings Show Gains.
Postal savings deposits on June 80
totaled SITS, 1929, FOL. against S733 .526, 1872
en- May 81 and S347.416,870 on June 80,
1881 according to Post Office Depart
ment
Increase of S42,802,919 for June COM
pares with an average monthly gain in
these deposits of s28. .455 .992 from De-
cember 81, 1881, through June of this
year and of $35,742,569 from June OF
last year through June 80 of this year