Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-01-14
Huge Decrease in Income
Blamed on Competition
From Taxicabs.
PRESIDENT HANNA MAKES
ANNUAL REPORT FOR 1881
Regulation Requiring Higher
Rates for Autos Suspended
Pending Court Ruling.

earnings of the Capital Traction Co., in
1881, as compared with 1880 was shown
in the annual report to stockholders,
made today by John II. Hanna, presi-
dent,
The company's net earnings totaled
a falling-off of $196,00O4 in net in
come over two-year period. Net in
come in 1929 aggregated 1851 ,974.43.
Mr. Hanna attributed the huge de-
crease in net income to taxicab COM
petition. He explained that during the
first half of the year economies IN op-
Grafton and lower taxes, due to reduced
revenues, made possible a slight ad-
vance in net income despite loss in
revenue. With Inauguration of 20-cent
taxicab fares in July, however, reve-
nueS of the traction company suffered
so severely company executives were
unable to avoid a drop in net income.
5000 Taxicabs I'm City.
"There are at the present time" MIR.
Hanna reported, about 5000 taxicabs
operating In Washington, much larger
number in proportion to the population
than in any other city in the country.
Most of them charge 20-cent fiat rate
for from l to 4 aSsengers, which, Of
course, affords very direct competition
with our own service. Testimony of
taxicab drivers shows that this low rate
provides barely living wage even for
operators working from II to IA hours
per day, and the large number of cabs
operating under it is made possible by
the general unemployment situation.
THE Public Utilities Commission.
rn S1ss No Is Id,
alton, after investigation and hearing
issued an order which was to have
become effective on January 10, which
requires meters on all cabs and es-
tablishes minimum charge of Is
cents for two miles, but which in other
respects does not, because of the COM
missions limited powers, make taxi
cab regulations at all comparable to
that imposed upon other transportation
agencies.
This order has been appealed from
and an injunction against it's enforce
ment requested. While the case was be-
ing heard, the commission modified its
order suSpending its effective date until
go days after a decision on the appeal
IS handed down by the court, in order
that taxi drivers may have time to pro-
cure meters"
fMaucaaE summary.
Mr.. Hanna's financial summary in
Guided:
100, Change over
Revenue. railway. s3,455,2 5157 1884,. AIS 1T
Revenue, bus. .....,. 236,89236 1885 rs
Special bus revenue. 105,43548 1887 rs
Total revenue ....sa7s7,57s4 Al as326.522. s6
Revenue from opera
tons other than
transportation .... S9s6os3 a4ssas
cross operating
revenue $3.50. ss,8s754o34 's32s.ssos So
0p S7s'sH Of f1Ds sposs
reVenue) ......... 2.828,76545 So s177,24S 40
Net operating reve-
Taxes assignable to
erations -. 29247ss7 s3217812
Operating income. s7l6,soo84 ss11755434
Non-operat. income. 22179.21 "23l458
Gross income 49,. $7s8 $50. o5 ssll9 s8s. 90
Deductions from gross income
fu nded
debt s27s,288.23
Int. on
g Sntqnded 1882 81
Rent for
leased
road -. $4,000
Income tax
paid at
source 3,94924
taxes =. 1,645.7s
Net income 800. $365,s7ss2 'sl2s,s65.s1
Decrease. increase.