Evening star., 1932-05-13
CAPITAL TRACTION
EARNINGS DECLINE
Drop of $43,036 Reported
k for April, Compared to
1891 Figures.
BY EDWARD c.. STONE.


the April report of the net earnings
OF the Capital Traction Co., made pub
lie today. The figures, as prepared for
the Public Utilities Commission, show
net earnings in April of $22,086.55
against $65, 5,123.30 in April, 1881, or a
decrease of $43,036.75.
Operating revenues were $298,20662,
compared with 1886, 6,276.2O, a decrease
of S68,096.58 from April year ago
Operating expenses and taxes called for
S247, 1886, against S273, ,436.91 in April
a year ago. a reduction in operating
costs of $26,043.05, leaving a net oper-
ating income of $50,812.76, compared
with S92,839.29, or a decrease of S42,-
O2653.
incorporating income was lower than
a year ago, gross income was off about
the same as the operating revenues,
while the deductions on the bonded debt
over 100000, the same figure as last
year After all these usual deductions
the above decrease in net was noted.
Since the figures show that operating
costs were pared down, the falling of
in net revenues is largely due to the
keen taxicab competition. which did
not prevail in the corresponding month
in 1881
Revenue passengers in April of this
year totaled 3,541 ,685, compared with
4,l85,483 in April, 1881, decrease Of
6427 1913 paid fares.
fractions Earnings to Date.
The Capital Traction Co. has also
reported earnings for the first four
months of the present year in compari-
son with the like period year ago.
This financial statement also reflects
the amount of business which the great
number of taXicabs swarming Wash
ington's streets have wrested from the
street car line.
Operating revenues for the four
months totaled $1,155 979.32 against
370,774.79, a decrease of S214,795.47.
Operating expenses and taxes amounted
to S988,1l585, in comparison with ST.
76,994. so, decrease from the first
four months of 1881 of $50, ,878.65.
Operating income for the four month
period totaled $l67,923.69 compared
with S293, ,78029, or a decrease so far
this year of S125.9l6.82 over the like
period in 1881 Incorporating income
has been slightly lower than last year,
making gross of little more than op-
Grating income.
Following all the other necessary de-
ductions, Capital fractions net income
for the four months was S50,83438, in
comparison with $177. 1872 year ago,
or a decrease of $126,363.24. As oper-
ating costs have been steadily reduced,
the startling difference in net income
is shown most clearly in the traffic fig
ures, revenue passengers in the first
four months of 1882 totaling 13,963,-
635. against 16,126,095 a year ago, a
falling of of 2,162. .460.
Norris Institute President.
Richard A. Norris of the Lincoln
National Bank has been elected presi-
dent of the washington Chapter, Amer
ican Institute of Banking. to succeed
Aubrey o. Dooley.
Other officers elected were Robert H.
Lacey, Columbia National Bank, first
vice president; Walton L. SanderSon,
Federal American National Bank g.
Trust Co., second vice president; Miss
Constance D. Fogle. Riggs National
Bank, secretary; Miss Anne c. Sullivan,
Morris Plan Bank, assistant secretary;
j. Earle McGeary, w. B. Hibbs Co.,
treasurer, and Paul j. Seltzer, Ameri-
con Security & Trust Co., chief counsel
Retiring President Dooley auto
fnatically became a member OF the
board of governors. Other governors
chosen for two-year terms were George
F. Dagenais, Riggs National Bank;
Joseph r. Fitzpatrick, Second National
Bank; Miss Rose L. Royce, Wash
ington Loan e. Trust Co, and E
Wallace Schreiner, First National Bank
of Alexandria, Va. A. z. Henze and
Robert A. Sisson remain on the board,
as do Frank NJ. Perley, American Sc
curity & Trust Co.; Miss Anne P. Craw-
ford, McLachlen Banking Corporation:
Ax,a1
& Trust Co., and Robert E. Lee, Lincoln
National Bank.
Some Interesting Contests.
In the contested Offices, Walton l..
Sanderson, Federal-American National
Bank & Trust Co, won the second
vice presidency over Alfred w. Sher-
man, American Security & Trust Co.
Miss Constance D. Fogle, Riggs Ma
tional Bank, will succeed Miss Rose L.
Royce, Washington Loan & Trust Co.,
as secretary. being elected ever Mrs.
Gertrude c. Wick, Liberty National
Bank.
j. Earle McGeary of w. B. Hihbs &
CO, will succeed Mr.. Sanderson as
treasurer, being victor over Lloyd H.
johnson, Northeast Savings Bank. Miss
Anne c. Sullivan, Morris Plan Bank,
succeeds Miss Fogle as assistant secre-
tary, defeating Miss Evelyn E. Lynham,
Park Savings Bank, for that Office.
Paul J. Seltzer, American Security g.
Trust Co., was elected chief counsel over
William H LaughIin, Washington Loan
& Trust Co. He succeeds Mr.. Nc
Geary.
Among eight candidates to fill four
vacancies on the board of governors,
George F. Dagenais, Riggs National
Bank; Joseph R. Fitzpatrick, Second
National Bank; Miss Rose L. Royce,
Washington Loan & Trust Co.; E. Wal
lace Schreiner, First National Bank Of
Alexandria. Va, won over George r.
Flemer, National Metropolitan Bank;
O. Lehman, Security Savings g. Com
mercial Bank, and Raymond L. Weber,
National Savings & Trust Co.
Eoday's Trading on Exchange
Gas issues drew all the attention on
the Washington Stock Exchange today.
The market opened with four 500 sales
in Washington Gas IS, series A. at 97ss
After CALL two more S1O0 sales were
registered in the same bond at SO.
Georgetown Gas Light IS appeared
or the board today, two $1,000 trans
fers taking place at 1907, ending the
days sales Washington Railway &
Electric common and preferred stocks
have been placed on the eX-dividend
list, following the recent voting of the
usual quarterly payments
In the unlisted department the bid
on Mayf1oWer Hotel Is was lowered
from II to - and the asked price
from 20 to 14i5 The bid price on Ma
tional Press Building first SIS was low
cred to 3034 and the asked price made
3212.
On the main board the bid on Capt.
tai Traction remained at 12l2 and the
asked figure stood at II, TO which il
was raised yesterday.
Columbia Elects New Officer.
At the regular weekly meeting of the
board of directors of the Columbia Ma
tional Bank yesterday, Sheridan S
Kleindienst was elected assistant
cashier. Mr. Kleindienst has been with