Evening star., 1933-03-30
CAPITAL TRACTION
INCOME OFF $4,000
Company Files February Re-
| port With Public Utilities
Commission.
BY EDWARD C. STONE.

According to the FEBRUARY report
filed today with the Public Utilities
Commission. the Capital Traction Co.
suffered such severe competition with
private automobiles. busses and taxi
cabs, that net income was off $4,000
from the same month year ago.
Operating revenues totaled $685.
08082, against S275,2l0.52 in the like
period last year, decrease of
s5O.l29.70. Operating expenses and
taxes totaled 5000, ,l30.08, compared
with S239.746.32 year ago, a reduction
of SS0,6l6.24, leaving an operating in
come CT S15,950.74, against S35, ,46420,
drop of Sl9,513E6
Gross totaled 16,060.50, against
S35. .552.31, slump of over $4,000. In
terest on bonds and other deductions
called for s31,O13.78. in comparison
with 1882 .02 last year. an increase OF
S66l.76 This left a net deficit of
S5,2OO.29, in February, 1882 making the
exact decrease $50, 1887.
The Capital Traction lines carried
2,822,277 revenue passengers during the
month, against 3367,349 in February,
1882, a decrease of 545,072.
The company also filed the report for
the first two months of the present
year This revealed operating revenues
of S473, ,307.29, decrease of S88,605.0l
from year ago. Operating expenses
and taxes required S432 ,029 .86. reduc-
ton in operating costs of S6l ,055.9l.
Operating income showed decrease of
S27,549.10.
Gross was off over $4,000. and after
the usual deductions for bond interest
and other payments, net income for the
two months was in the red, the deficit
being S19,455.78, against an increase OF
S9.692.33. Total revenue passengers for
the first two months Of this year num-
bered 1922 OCT, against $3.50, ,265, de-
crease of 958.O68 over the first two
months of 1882.
World Prosperity Return Sought.
washington bankers are interested IN
the coming meeting of the Academy OF
World Economics, which takes place at
University of Virginia next Saturday:
The subject of world tariffs and tariff
barriers is considered by the association
as the most vital factor in the return
of world prosperity. The Charlottesville
meeting will begin at 3 O'Clock m the
afternoon when world-famed tariff eX-
perts will speak.
The evening session will be addressed
by DR.: David Friday, Washington
tional Distribution Of Economic Power
For those who attend from washington
accommodations are being arranged by
the academy'S offices at 734 Jackson
place. The academy was organized
about a year ago. The present officers
are:
Chairman, DR.. William F. Notz. dean
of the School of Foreign Service of
Georgetown University: vice chairman,
DR. John Donaldson of George Wash
ington University; secretary, DR.. Leifur
Magnusson of the international labor
office; treasurer, Norman E. TOWson,
assistant treasurer of the Washington
Loan & Trust Co.; assistant secretary,
Joseph N. BennerS of the Tariff Com
mission.
Bank Women Elect Officers.
The annual meeting of the Washing
ton Bank Woman's Club was held last
evening at the Women's City Club, these
officers being elected for the ensuing
year:
President Mrs. Judith M. Fishburn,
Chase, Harris. Forbes Corp; vice presi-
dent Miss Alice Whitton, First Ma
tional Bank Alexandria; corresponding
secretary Miss Harriet Barrett, Riggs
National; recording secretary. Miss
Katherine McCalmont, w. B. HibbS g.
Co.; treasurer, Mrs. Laila Float, Ma
tional Metropolitan; historian, Mrs.
Helen v. Reed, Burke & Herbert, Alex
andria.
In addition to the above officers, the
board of governors includes Miss Vir-
ginia G. Marks Glover & Flather:
Miss Elizabeth Battaile, District Ma
tional; Miss Mary Craven, District Ma
tional, and Miss Clara McGrath. IN
charge of the Credit Bureau of the Dis
trict Bankers Association.
Mrs. Fishburn was reelected to the
presidency Her annual report showed
that the club had enjoyed an active
and successful year. All the problems
discussed were of especial Importance
to women in the local banks.
Hileary L. Ofutt, jr. vice president
Bank. has resigned his official positions
with the institution. it was announced
today He will, however, continue as
director of the bank.
Mr. Offutt, who is planning to make
other business connections has been IN
the banking field for 25 years having
begun his career with the United States
Trust Co. in 1908. Following his con-
nection with the trust company he be-
Trust Co. of Maryland at KenSington
and later he became assistant treasurer
and then treasurer of the Continental
Trust Company.
He went to the District National
Bank in 1917 as cashier, later becoming
vice president.
Land Bank Officers Meet.
The Executive Committee of the Fed
eral Land Bank Association has been
holding a three-day session at the Carl
ton Hotel. taking up matters of par
ticular interest to the joint stock land
banks. George A. Harris, president of
the Potomac Joint Stock Land Bank
has attended many of these sessions
Mr.. Harris recently returned from Flor
ida and reports that he is in excellent
health.
Mr. Harris has also been conferring
with Government officials during the
past few days in connection with the
new Farm Credit Administration, un-
der which the land banks and joint
stock land banks will operate in the
future A former Pennsylvania banker
Mr.. Harris went to Baltimore in 1917 to
assist in the organization of the Federal
Land Bank in that CITY, being treasurer
and director for five years.
He came to Washington in 1923 and,
with A. Mitchell~ Palmer and others,
organized the Potomac Joint Stock
Land Bank, of which he has since been
president and manager. In the past
few years he has followed all agricul-
tural matters very closely.
The Treasury will issue 91-day Treas
ury bills to total of S100,000,000 dated
April S and maturing July S. Tenders
will be received up to pm Eastern
standard time April g.
Mercantile Trust Co. of Baltimore
has declared quarterly dividend of
$3.50, placing the stock on a $40 annual
basis, against SIS paid previously. The
dividend is payable March 81 to stock
of record March 81.
Comment in Financial District.
Irwin Owings, second, vice president
of the Bank of Commerce & Savings,
has recovered from the recent illness
which kept him confined in the Wash