Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-11-21
CAPITAL TRACTION
EARNINGS CLIMB
S23,419 Total for October
Compares With Only
S3,357 Year Ago.
BY EDWARD c. STONE.


by the Capital Traction Co. in october
total net earnings amounted to S23,-
1882 against net income in october
1882, of only $3,357.3l, an increase for
the month of s20,062.61. according to
the financial statement just filed with
the Public Utilities Commission.
Revenue passengers carried on the
company's lines in October totaled
3,277 ,5e4 against 3,2o7,7o3 in October
year ago, an improvement in traffic
OF 69,89l street car patrons. This
marked advance in street car traffic
was the main reason for the better
October showing, although a real re-
duction in operating costs was also
registered during the month.
Operating revenues in October to-
tailed $3.50, 1895 80 against $259, 79s 81 in
october, 1882, an increase of S6,596.52
Operating expenses and taxes required
S2l2,650.48 in comparison with SPIT
COS OF in the like period last year
decrease of s14,554.79 This left an
operating income of s53,74491 against
s32,593.60, or an increase of l,15l.3l.
Incorporating income was slightly
lower than last year while gross was
more than $4,000 ahead Of October,
1882. Interest on bonds called for the
same amount in both months, S23, 1885, |
Sc. After all other deductions, the |
aforementioned gain in net earnings |
was reported.
fractions Ten Months Income.
The Capital Traction Co. also re-
ported earnings for the first 10 months |
of the present year. Operating revenues |
totaled $2,4l5, 262.87 against $2,707,- |
727l8. a decrease of over 1922 600 |
|
S2,106, 1854 against $2,374,62545 a
year ago, reduction of the substan- /
tial sum of $268.5199l. Operating in
come was off $23,944.40. incorporating !
income was also somewhat lower.
Gross income during the 10-month |
period amounted to 1922, 1888 as COM
pared with s348 2o75o a year ago
Hrop of S25.6ls.t2. Deductions for in
crest on bones. interest crscil 20 10 o.
preciaLion reserves snd FOR otner plr-
oCses called Eor $3I3,0o0.57 in Com-
pariSoal with S3i2,462.03 In the same
period in 1892
Total net income for the 10 months
was reported as only $3,528.01 COM
pared with $35, 725.47 last year at the
same time, a falling off of S32 ,197.46.
Thus, it is seen that the October figures
brought the company's net back INTO
the black
So far this year the Capital Traction
Co. has carried 29,538,372 revenue pas
sengers, against 32,679 BOT a year ago,
decrease of 3,141,435. The October
reversal in the trend is highly graft
tying to the officials and will be to
the very large number of local stock
holders
The rapid increase in the population
of Washington is assigned as one of the
main reasons for the traffic increase
With such new buildings as Agricul-
ture Extension almost filled with work
ers both day and night, the number
of street car riders is bound to show
an increase, officials say.
Cold Weather Boosts Trade.
The Federal Reserve Bank of Rich
mond reports last week was the best
since September for retails in the Fifth
Reserve District, which includes the
National Capital The cold snap slim
ulated the movement of heavy goods,
the bank says. The statement adds
that wholesale trade is holding up well
and further improvement has been
noted in textiles in the Carolinas.
The colder weather caused a pick-up
in tourist trade, which always develops
as Winter approaches. the southern
part of the fifth district drawing thou
sands of Winter visitors. In some
quarters it is believed that Winter
tourist business will be much better
than it was last year.
Coal shipments have picked up again
and the railroads are profiting by this
increased freight traffic. Closing Of
the Great Lake season is helping
Hampton Roads. Several communities
are trying to obtain money from the
Public Works Administration In order
to supply needed jobs for idle men,
Bankers Code Work Advanced.
George o. vs5s, one of the vice presi-
dents of the Riggs National Bank and
president of the District Bankers As
ISOLATION, has returned from New York,
where he attended q meeting Of the
American Bankers Associations Code
Committee, of which he is a member
Just now this is one of the A B. AS
most important committees.
The bankers code of fair practices.
which went into effect on October Is.
was only temporary set CT banking
regulations. The permanent code goes
into effect December 3.
The A. B. A. Code Committee is now
working on the permanent code which
the administration will be asked to
adopt, when the life of the proba-
tionary code expires. The working of
the temporary code has been followed
very closely by all bankers. The COM
mittee report is not yet ready for pub
LEGATION, but will come from A. B. A.
headquarters in New York shortly
1t is understood that the new code
will include several charges for various
banking services for which there has
been no charge in the past. The banxs
of the country have figured out where
they have been losing money and think
1t only fair that such service losses
should be stopped.
Washington Exchange Quiet.
Trading was quiet on The Washington
Stock Exchange today. the first sale
being IN Washington Gas IS, series B,
500 moving at 1922. Washington
Railway g. Electric preferred stock
came out at 8012. Mergenthaler Limo
type opened at rs and closed at 2434
on two l0-share sales.
1t is reported that Eliot H Thomson,
publicity manager OF the Washington
Loan q Trust Co. has been made local
representative of the Public Relations
Committee Of the Financial Advertisers
Association
Organization of 86 Federal savings
and loan associations in Is States has
been given preliminary approval by the
Federal Home Loan Bank Board In the
Governments newest move to give
financial assistance to home owners, it
was announced here today.
The Reconstruction Finance Corpora
ton, since beginning of its intensified
program to liquidate closed banks, has
actually dSbursed ST. 100000 directly to
depoSitors in the closed financial insti-
tutions. This total is not the total of
authorizations, but represents actual |
cash payments.
R'ckers Discuss Bond Outlook.
Capital bankers regard as very i'm
portant and encouraging. statements |
mace by Acting Secretary of the Treas |
ury Morgenthau regarding funds under |
his control which could be used for |
supporting bonds.