Evening star., 1933-12-29
CHEERFUL TRACTION
REPORT PREDICTED.
Gross for Month Believed to
Have Exceeded 1882
Level Substantially.
BY EDWARD c. STONE.

BY EDWARD c. STONE.
1t is reported in the financial dis
trict by those who follow closely the
affairs of the utilities here that the new
usually encouraging report for the
month of December-the first month
9f operation since the merger.
While no official figures have been
made public, it is understood that gross
receipts of the new company for the
month will be considerably in excess
of the combined gross receipts of the
Washington Railway & Electric Co. and
the Capital Traction Co. for December
last year. .
In view Of the fact that both cons
Danies had made very substantial re-
AUCTIONS in operating expenses before
The merger and that further economies
became effective as result OF the uni
-ication, it is expected that the final
report for the month will show net
earnings of encouraging proportions.
Because of the securities act, which
makes it necessary to file voluminouS
alta with the Federal Trade CommiS-
ion, stock of the new Capital Transit
20. is not yet available. Capital Trac-
ION stock, which is eXchangeable share
or share into Capital Transit Co.
took, still is being quoted on the
Washington Stack Exchange at prices
angling from Sl2 10 Sl4.
Hamilton Bank Deposits Jump.
Deposits in the Hamilton National
Bank on December % were S9,5l8,-
72,42, as against S8,757, 1862 on Oc-
ober %, 1888, it was disclosed today
~ E. c. Graham, president of the bank,
n letter to stockholders announcing
he annual meeting of stockholders
January 8 at the bank.
The first months results of opera
ion of the bank" Mr.. Graham said,
showed no abnormal trend-only mod
crate Withdrawals and a satisfactory
number Of new accounts
The published statement of the bank
n response to the October call of the
ontroller," Mr.. Graham said. appears
o have had the effect Of stimulating a
apidly growing expression of confidence
hat cannot be accounted for from any
lther source
The Hamilton Bank merger was
,ormed from seven unit banks. The
)ank opened in September.
Phone Report Reflects Upturn.
The latest report of the Chesapeake
=; Potomac Telephone Co. clearly re-
.ectS the present business upSwing in
Washington. November operating rev.
nueS tOtaled S785, ,686, against S766, $50
year ago
Operating expenses were reduced,
126095 being compared with the
igher figure in November. 1892 of
542,095. The same favorable report
n the II months was also brought
ut in the statement, expenses this
ear being S5,741,837 compared with
lgher costs a year ago of S6,195 SOB.
hese figures resulted in a gain in net
)erating revenues in November of S34,-
l9 and for the IL months of S209,543
fter deduction of taxes, net operating
come in both these periods was also
Total gross income in November was
1866, against the much lower fig
ca year ago Of $l66O9O. The No.
n1ber net income of S167,631, COM
ared with S14o, ,4O3, is no doubt due to
1prov1ng business conditions in the
apital, as reflected by larger use of
ZONES. The same may be said Of net
come for the II months. the total of
-,616,978 comparing with 81, 1,548, ,375,
though the November improvement is
r more striking.
During November 1915 more tele-
homes were connected than were dis
lnnected, the trend earlier in the year
ing reversed. Phone calls during the
onth totaled l9,080,0O0, not quite as
gh a total as in November, 1882.
Ruling Sent 10 Reserve Banks.
With interest payments on bonds of
le Home Owners Loan Corporation
ming due for the first time, January
the Federal Reserve Banks and all
eir branches throughout the United
ateS have been given instructions to
Sh coupons on the bonds. This ac-
IN was taken to facilitate the making
these payments which normally
ould have to be made directly by the
reasury Department. Home Owners
Oan Corporation Offices here and In
le States have been advised of the
ction of the Reserve banks.
Virginian Railway reports for IL
lonthS ended November 30 1888, net
come of S2,594,746 after taxes and
largeS, equivalent after dividend re-
IirementS on s per cent preferred
ock. to So 80 a share on 312.7i5 shares
common stock. This compares with
1888, ,724 or 46 cents common share
| first II months of 1882.
November net income was S246,081
tier taxes and charges, against net
lcome of S25060 in November, 1882.
Mergenthaler Again Active.
Mergenthaler Linotype was again very
ctive on the Washington Stock EX-
nange today. Ten consecutive sales of
0-Share' lots were recorded during the
2ssion, all made at IS. This was the
lme price as prevailed in yesterdays
larket, when 180 shares changed
lands.
Today's market opened with $1,000
'otomac Electric consolidated IS selling
1O2. Washington Railway & Electric
referred figured in an eight-share sale
49, After call Potomac Electric
over IS, 1852, recorded a $4,000 sale
107. Anacostia g. Potomac Railroad
S came out at so on a $1,000 sale
hich closed the days trading.
All the New York Stock Exchange
fices in Washington will be open as
sual tomorrow The governors refused
grant a three-day holiday. The
TaShington Exchange is closed every
aturday, so it will enjoy triple holi-
ay here, anyway.
Heard in Financial District.
Another grand rush of Civil Works
administration checks is expected by
le local banks tomorrow. The banks
i'll cash as many as possible in cases
here identification is definite.
American Ice Co. has declared the
egular quarterly dividend of $3.50 on
ne preferred stock, payable January 20
} stock of record January 5.
An increased distribution from 19
@1ntS to 81 cents share will be paid to
lareholders of Massachusetts, Investors
rust on December 80, representing the
lirty-seventh consecutive quarterly
ash distribution of this investment