Evening star., 1932-12-30
CAPITAL TRACTION
!. NET OFF SHARPLY.
Eleven Months Report
Shows Drop of S284,393
From Last Year.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
: Tota! net income of the Capital
Traction Co. for the first II months
Of the present year amounted to S34,-
36l.23, compared with s3l8,755.l6 in
the corresponding period last year, a
decrease of 1884 .393 90. according to
the usual financial statement filed with
the Public Utilities Commission.
Operating revenues for the first II
months of 1882 totaled S2,956, ,424.48.
against s3,53319947, decrease of
taxes required s2,593, ,869,49. compared
with S2.893, 1922, a reduction in op
Grating costs of S29s 5l283, and leav-
ing an operating income of 1862 .554.9s
in comparison with S639,Sl7l5 a year
ago, or a decrease Of s277.262.16.
Incorporating income was slightly
lower than last year and deductions
from gross for bond interest, etc, about
the same as in 1881. leaving the above
now anticipated that this net will be
about the return for the full years
operations when the December figures
are reported.
ing revenues of S24s. .6e7 80, compared
with S2S799s.67, decrease of s3s,-
30l57. Operating expenses and taxes
called for S2l9,24404, against S24l,-
86032, reduction in expenses Of S22,-
6l6.28. leaving an operating income for
November of S29 ,453 20 compared with
SAC, 1885. or a drop of Sl6685.29,
After all the usual deductions from
gross income. the Capital Traction Co.
reported a net deficit for November of
$l,3G4.24, against net profit in No
vember. 1881, of SIG, ,16489. or de-
crease in earnings of Sl7,529.03.
In November the company's lines
carried 3.069.847 revenue passengers,
against 3,455.618 in November, 1881,
drop of 1886, TIL. For the first ii
months of this year revenue passengers
totaled 35.749, 654. against Al ,429, ,742, or
a decrease of 5,680,088.
The great number Of private auto
mobiles in use. low taXicab rates and
the bus competition are given as the
main reasons for the slump reported in
the present years earnings.
Firm Opens Office in Roanoke.
Fenner. Beane & Ungerleider. mem
bers of the New York Stock Exchange,
will open a third Office in Virginia on
January 3 with the establishment Of a
branch in Roanoke, according to John
D. Mothershead. local manager of this
Arm This will be the f1fty-fourth
branch Office of the firm. Together
with 81 correspondent offices, these
branches comprise the second largest
private wire system in the country, 10
Gated principally throughout the South.
Atlantic Seaboard and East Central
States.
Heretofore. the business in Virginia
has been cleared through outlets in
Norfolk. Richmond, Washington and
Winston-Salem. The Roanoke office
will afford more complete coverage in
Virginia and will be furnished with the
most modern facilities for brokerage in
all security and commodities markets.
As an industrial center, Roanoke has
important rayon interests, railroad
equipment. structural and bridge steel,
furniture and clothing industries.
Opening of the Roanoke Office con-
tinues the steady expansion of the
firms facilities at points where local
commercial and financial interests re-
Quire additional facilities for dealing in
securities and commodities. This policy
has been carried out consistently dur
ing the depression as well as in pros
percus years. Recent additions to the
firms private wire system are branch
Offices in Jacksonville and Miami. es-
tablished in July. as well as two Lon
seasonal Offices were opened at Palm
Beach and other Florida resorts.
Today's d. c. Exchange Trading.
Capital Traction issues again COM
manded attention on the Washington
Stock Exchange today, the stock selling
of and the bonds advancing.
The stock, which closed yesterday at
IS. opened today with two small lots
selling at IA. Three l0-share lots then
moved at l3, and after call 30 shares
more changed hands at the same quo
tation, the market for the stock closing
with l2i2 bid and Az asked.
Capital Traction SIS figured in two
$1,000 transactions at 5212, an ove--
night gain of IL points.
One other bond sale was recorded,
$1,000 Washington Gas Light IS, Series
B, appearing on the board at 1882.
The local Exchange will be closed to-
morrow, as usual on Saturday, but all
the New York Stock Exchange Offices
in Washington will be open.
Second National Declares Dividend.
The Second National Bank directors
have declared the regular semi-annual
dividend of 3 per cent, payable January
3 to stockholders of record on Decem-
ber 90.
The annual January meeting of gov
ernors OF the Investment Bankers As
sociation of America will be held
January 20 and 81 at Absecon, N. ]
The purpose of the meeting is chiefly
to consolidate the associations work for
the coming year Attendance will be
limited to members of the board COM
m!ttee chairmen and other association
w mo ha IoI f~..
ports. Frank M Gordon, vice presi-
dent of First Union Trust & Savings
Bank of Chicago, is president of the
association.
Norfolk & Western Reports.
The Norfolk g. Western Railway Co.
reports for II months ended November
80, 1882, net income of S14,761,017 after
taxes and charges equivalent after
dividend requirements on 4 per cent
preferred stocks to $3.50 a share on
l,4O65O7 shares of common stock. This
compares with S19,683,586, or S13.39 a
common share, in first IL months of
1881.
November net income was S2253,816
after taxes and charges, against net
income of $l,586,30S in November last
year.
Baltimore Banks Lower Interest.
Most of the mutual savings banks in
Baltimore will lower interest on deposits
to per cent from 3a per cent, effec-
tive January l. Directorates Of the re-
naming banks are expected to take
similar action during this week. The
reduction is in line with similar cuts
made by mutual savings banks through
out the country.
Prior to October, 1881, the prevailing
interest rate on deposits had been
per cent, being reduced to 312 per cent