Evening star., 1932-02-18


when rates were high and no such
fleets of cabs were on the streets as are
now in operation.
The report, however, showing net
earnings of only S4,492.04 in January.
is most important, especially while the
proposed merger of the Capital Trac-
ton Co., Washington Railway & Elec-
trio Co., and Washington Rapid Tran
sit Co. is under consideration in Con-
gress.
Traction Earnings in Detail.
Capital fractions total operating
revenues in January were $685. .78
in comparison with $347, ,491.55 in the
like month a year ago, decrease OF
s60,78977 Operating expenses called
for s234,21316. against $253, ,454.08
year ago. showing a reduction OF S19,-
24092. The lower income also meant a
reduction of about $4,000 in taxes dur
ing the month.
Deduction of operating income and
taxes left the company with gross
income of $36, ,484.6 81, compared with
S69,576.34, a decrease Of S33,091.73.
Interest on bonded Indebtedness and
other deductions required S31 ,992.57,
which reduced the net profits to the
above stated income of about $4,000.
Revenue passengers carried during
January numbered 3,512,916, against
4,137,146 in January year ago, dif-
ference of 624.230.
The slump in passenger traffic Is due
to the same situation so far this year,
as President Hanna described In his
annual report when he said the extra
ordinary taxicab situation was the chief
cause.
At that time he added that there are
now 5000 taxicabs operating in Wash
ington, a much larger number in pro-
portion to the population than any
other city in the country.
Richie Addresses Insurance Men.
Theodore NJ. Richie, vice president Of
the National Association of Life Under
writers, and retiring president of the
Million Dollar Round Table" addressed
the members of the District of Colum-
bia Life Underwriters Association, at
today's monthly luncheon at the May
flower Hotel. prospecting in 1882" was
his subject and he gave brilliant in
spirational talk at the same time in
jecting figures and other information on
the past years business growth. He was
given a most cordial reception, many
friends being present who heard him at
a similar meeting here year ago. He
is connected with the Equitable and is
VI tllC IlOSl dll SOllLlilAtVCC
for the national convention to be held
in San Francisco.
d. C. Bank Bulletin Appears.
The February bulletin OF the Dis
trict Bankers Association has made its
appearance. 1t contains an article on
the Reconstruction Finance Corpora
tion by Roger S. Quinn Of the Wash
ington Loan & Trust Co.: includes an
,o,,rnoronrtc rooa rIinU tho pOpoipC on.
nual convention, the pre-convention
dinner at the Columbia Country Club
and the annual essay contest, open to
members of the institute. It includes a
report on the Midwinter meeting Of
the association, held at the Willard,
and announces that the employment
bureau in the associations head Office
has been suspended, at least temporar-
1y.
T0day's Exchange Business.
The most important transaction On
the Washington Stock Exchange today
was a ST 900 sale in Potomac Electric
Power IS at 1912. Washington Gas IS,
series B, sold at 100l2. Ten shares of
Merthenthaler Linotype sold at 48. this
being the first transfer since the dl-
rectors reduced the dividend to rs cents
a quarter in order to conserve cash while
improvement in business is being
awaited.
Southern Reports Earnings.
The preliminary report OF Southern
Railway Co. for year ended December
81, 1881, shows net loss of $5,609,813
after taxes and charges. This compares
with net income of S9,126,512, equiva-
lent after per cent preferred dividends
to s472 share on 1,298,200 common
shares in 1890.
Preliminary report of Seaboard Air
Line Railway Co., for year ended De-
cember 81, 1881, shows loss of S7,110,747
after taxes and charges, but before in
terest on 5 per cent adjustment mort
gage bonds, comparing with loss OF
S4598,620 in 1880.
American Telephone g. Telegraph Co.
declared regular quarterly dividend of
S225 payable April Is to stock Of rec
ord March IL.
Virginia Power Report.
Preliminary report of Virginia Elec-
trio & Power Co. and subsidiaries for
year ended December 81, 1881, shows
net income of 1895, $40 after Federal
taxes, interest, depreciation, etc, equiv
alent to S1989 a share on 195,274 shares
of preferred stock. This compares with
S3,845, ,564, or S2008 share, on 191 ,497
shares of preferred stock in 1880. All
the common stock is owned by En-
gineers Public Service Co.