Evening star., 1933-09-27

uu6S LII Angus f3t3XA II
totaled S219,143.65
against s237.725.64
in August, 1882, S
decrease of S18,- IL IS ~ T.
58199. Operating
expenses amounted Richard Whitney
to S190,159.08
against S208,72l in the like month
year ago a reduction in operating costs
OF $18,562.26.
After deduction of operating expenses
and taxes, the company reported an
operating income of S13,590.19 in COM
parison with SIS, SO year ago, a
decrease of Sl,6O134 Incorporating
income was practically the same as last
year, as was the interest paid on bonds.
Other deductions were slightly larger
than in August, 1882, leaving the above
mentioned deficit OF over $4,000 in
net income.
Revenue passengers totaled 2,656,566.
while the number of paying passengers
carried in August. 1882. was 2,873,573.
a drop of 2l7,007 during the month
under review. AS usual, the slump was
due to private autos, taxi and bus COM
petition. ,
Capital Traction reported decrease OF
S287,86856 in operating revenues. AT
AIiG SAINT llllIC Vic SOAAEehAAy ASNS>~
operating expenses by 1929 ,92987,
very substantial sum. At the end OF
the eight months operating income
showed a decrease of S51 ,032.80.
Net income revealed a deficit of Sl4,-
06311 against net gain in the cor
responding period last year of S43,-
3G441. or a decrease in net SO far this
year of S57.427.52. Revenue passengers
totaled 23,468,085 compared with 26,--
554.116. or a loss to date in 1888 OF
3.O68,031 in revenue paying street car
riders
Whitney Halts Exchange Move.
Brokers here were much pleased over
the announcement from Richard Whit
ney. president of the New York Stock
Exchange, that the trading mart was
not to be moved to New Jersey for the
conduct of any of its business.
Vetoing by Mayor OBrien of the
bills providing a 4-cent tax on stock
transfers and per cent tax on gross
earnings of all securities dealers was
the cause of the change of front by
exchange officials
Exchange members insisted they were
willing to bear their share of the tax
burden. But they claimed the load
now is all the exchange can carry.
Additional taxes would have practically
stopped trading. according to the be-
lief of many brokers and partners in
New York Stock Exchange firms.
The feeling in the Washington f1nan-
cial district is that business can be
handled to much better advantage from
one exchange floor. They are glad
the row is over"
Bond Redemption Date Near.
Holders of certain of the Potomac
Electric Power Co.'S per cent general
and refunding mortgage gold bonds,
series B, due in 1858, should bear in
mind that S35 900 of the amount out
standing have been called for redcmp
tion October l. at los. After that date
further interest on the called bonds
will cease.
AS announced some time ago, hold
ers and owners of the bonds are re-
quired to deposit the same on october
l with the City Bank Farmers Trust
Co., % William street, New York City
to obtain full payment of principal and
interest. The bonds to be paid off have
the following serial numbers:
$1,000 Coupon Bonds.
M-63, 67Ss 1923; 1881; FLAG. S5l2.,
s5@@as. ss7749,. s5s8. 5563 III. 1876, 1a45,
S3Q3 2533. 1897, 3629, 617. 1905, 1880,
$500 Coupon Bonds.
D-36 SO. las, 159. 172, 1S4.
500 Coupon Bonds.
CT S. 139, 149. 151.
Fully REGISTERED Bonds (Redeemed in Part).
No. X-2-S1,OOO thereof represented by
coupon bond No. M-13s7
Swing Toward Time Deposits.
The Federal Reserve Boards weekly
condition statement shows decrease
of $39,000,000 in net demand deposits
but a gain of S18000,000 in time de-
posits. This appears to be trend, as
many weekly reports have shown in
rise in time deposits against falling
off in demand deposits.
Bankers say the reason is probably
due to the fact that banks are no long
er permitted to pay interest on demand
deposits. This has caused a good many
depositors to switch money from the
demand, or checking deposits, over to
the time deposit side of the ledger in
order to get interest income.
A good many bank depositors are
said to be keeping their checking ac-
counts within actual needs and keep
ing their savings, or time accounts, as
large as possible in order to increase
their incomes in this modest way. Every
cent in interest on time deposits counts
in these days of thin pocketbooks For
that matter, interest counts even at the
top OF boom.
Bank Code Hearing Tomorrow.
The hearing on the N. R. A. bank
code starts in this city tomorrow. The
American Bankers association has sub
mitted what it considers to be fair
practice code relative to competition in
the banking industry. The hearing
will be held in the United States Cham
ber of Commerce Building, copies of the
code being available at the Office of
the National Recovery Administration,
room 1916, Department of Commerce.
Deputy Administrator A. D. Whiteside
will preside. The hearing is for the
presentation of facts to the N. r. A.
and is not for the purpose of argu-
ments of a technical nature.
In connection with the announce
ment today of the declaration OF the
American Ice Co. of $1.50 share, it
was stated that the company had re-
Gently reduced its outstanding real
estate mortgages from $387,9 to $751;
500 and that it had paid off all bank
loans which earlier in the year had
amounted to 100000. Cash on hand
is in excess of s1000,O00. Dividend is
payable October Is to stock of record
October g..
Trading On ID. C. Exchange.
Washington Gas IS, 1860, opened
business on the Washington Stock Ex-
change today. $500 changing hands at
1031a Days only bond sale.
Potomac Electric Power 6 per cent
preferred moved at 109 and ITO, while
20 shares of the same corporations 51a
per cent preferred came out at lot.
Mergenthaler Linotype appeared on the
board eight shares selling at 26.
The days final sales were very small
lots of Capital Traction. The stock
sold at 1874. new high on the pres
ent move It closed with 13 bid and 16