Evening star., 1932-08-12
CAPITAL TRACTION
DEFICIT REPORTED
Drop of $13,036 Is Noted
i in Company's Report
for July.
BY EDWARD C. STONE.

BY EDWARD c. STONE.
Due to the intense competition of
, iow-rate taXicabs and the countless
number of privately-owned automobiles
which have taken traffic away from the
street car lines. the Capital Traction
Co. tcday reported a deficit of $13036 60
in July, against net profits of S9,43861
in July. 1881. The curtailing of the
number of tourists visiting Washington
during the month on account Of the
national depression was another factcr
in bringing about the lower earnings
than were recorded a year ago.
Operating revenues in July totaled
S247, ,30l SO. compared with S306,826.90
in July, 1881, a decrease of $50, ,524.
Operating expenses and taxes called
for S230,395, against S268,342 a year
ago, a decrease of 37.94712 leaving an
operating income of $169O6.93, in ccm-
parison with $38>848.78 in the like month
IN 1881. or falling off of $2I .57785.
Incorporating income was practically
the same as last year. Gross stood at
SIS, ,446, against $40, ,946. Interest on
bonded debt and ether usual deductions
required $50. .483. 20. against 1,51020,
an increase of 1918. These usual de-
dSctions left the aforementioned deficit
of ever $4,000 for the month
Seven Months Net S5S,S6O.S6.
The Capital Traction reports net in
come for the first seven months of 1882
as $50, 8,860.36. against S283, ,437o5 in the
like period year ago, or decrease of
$224.576.69
The street car company reported
operating revenues of 81 $40, 1894.
against S2.39l,121 in the first seven
months Of 1881. a decrease of S42O. 1877.
Operating expenses and taxes totaled
S1,704.827.66, against Sl,903, ,432 48 in the
similar period last year, or a decline of
$i98, ,60482.
Deduction of operating expenses and
taxes left an operating income of $685.
566.69, in comparison with S487, ,639 08,
a decrease of over 1922. 600 Non-op-
Grating income was practically the same
as year ago. Gross was down prac-
tically the same amount as the operaL-
ing net. The deduction of bond-in-
terest and other deductions left the
aforementioned net income of nearly
$4,000.
Revenue passengers in the first seven
months of 1882 numbered 23,680,543, !
compared with 27,736,712 in the CORE
spending months of last year, a de-
crease of 4,056,169. The falling off in
revenue passenger traffic in July alone |
was 58l ,908. |
The August report will make much |
better showing en- paper, at least, as
earnings for both months under COM
parison will cover periods when the low
rate taxes were in operation. The new
rates were not in effect in July of |
last year.
Today's ID. c. Exchange Trading.
Trading on the Washington Stock Ex-
change today opened with 81 900 Capital !
Traction 5s selling at so. The next sale |
was small lot of Potomac Electric |
Power per cent preferred stock at 109, |
followed by a small sale of the same |
corporations 5l2 per cent preferred at |
103a4.
Warrington Railway & Electric pre-
ferred stock was in demand today The !
market opened with 10 share lots chang |
ing hands at &c. The final sale was !
50-share block, making the days turn |
over total 100 shares
The final sale for the day was single |
share CT Potomac Electric Power 515 |
per cent preferred, up from previous !
sales to l04. The usual Friday check |
ing of the quotations on unlisted stocks !
took place. There were no changes in !
prices.
The directors of the Monotype Ma i
chine Co. have declared the regular |
quarterly dividend of 81 so a share. pay !
abe August 81 to stockholders of record |
August 49, it was announced today on
the exchange.
Local Clearings in Small Drop.
Bank clearings in Washington for the |
week ended August 10 showed a slight |
drop from the previous week. They |
tctaled $l6,303,000. against sic, 758 900 |
for the week ended August 3, and 255 !
per cent under last year in the same |
week
Baltimore cleared s64, ,O95 900, against |
73,4l4,000 in the previous week and |
of l4.7 per cent from the like week a
year ago. Richmond reported clear /
ings of s20,785 900, in comparison with |
the higher figure of 2,426 900 last |
week, down 80 per cent from last year |
in the same week
Bank clearings fell much more sharp
1y than the season warrants, in spite !,
Of continued stock market activity. !
Clearings from At leading cities of the /
United States, as reported to Brad |
streets, totaled S4.245, ,073 900 for the !
past week, a loss of 16.5 per cent from |
the previous week and of 36.4 per cent |
from the corresponding week year
ago. Clearings outside of New York
City amounted to Sl.45l ,922, 900, Ill
per cent less than the week before and
37.7 per cent below a year ago
? The Northwestern section again ran
counter to the general trend and re-
ported a very slight increase in clear
ings over the previous week. Declines
in the other sections ranged from 1877
per cent in the New England and Mid
die Atlantic industrial regions to 2.6
Fer cent in the more rural South Gen.
trail area.
Who owns preferred stocks? The be-
lief is expressed in many quarters that
the largest aggre gate holders of pre-
ferred stocks are insurance companies;
others feel that colleges and charitable
institutions are the predominant share
holders.
To ascertain the facts, which, Incl
dentally. are widely at variance with
both the theories Just mentioned the
Standard Statistics Co. has just COM
pleted a comprehensive study of owner
ship based upon a widely representative
list of active preferred stock issues or
the New York Stock and New York
Curb Exchanges.
Replies to questionnaires representing
an aggregate of approximately $4,000
600 preferred shares, indicate that lndl-
viduals are the largest holders of pre-
ferred shares. not only in numbers but
also in terms of aggregate holdings.
Nearly two-thirds of all preferred shares
are held by individual investors and this
holds true as we'll for the moderate
sized issues as for the large.