Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-07-18

operating income was slightly
lower than last year. making gross just
under the operating figures. In both
half years $138,400 was paid out in
interest on bonds. After all other
deductions the Capital Traction Co.
reported the above net income of $16,-
314.31, against net return OF ST.
1866 in the same six months year
ago, a decrease of $55,582.6 IS.
The number of revenue passengers
carried in the first six months of 1888
was 18,15O,284, against 20,693,170 in the
first half of 1882, falling off so far
this year of 2,542,887 paid fares.
The reduction of over 1892 in
operating expenses shows what substan-
tial economies have been made by the
management. Every cent in outgo has
been watched The reason for the
slump in net earnings has been caused
by the taxicab army, private automo-
biles and public buses.
Capital fractions June Income.
The Capital Traction Co. also filed its
financial statement for June with the
Public Utilities Commission today, first
to be filed by any of the local utility
concerns.
The report showed operating revenues
of S241 ,143 against S27l, 730 in June,
1882, a drop of $30,586. Operating ex-
penses and taxes totaled $211 ,684 COM
pared with $3.50, los, a reduction In
operating costs of S27 .421.
Operating income amounted to $29,-
459 as against S32, 624 in June, 1882,
decrease of S3165 Incorporating in
come was practically the same as q
year ago. as was the deduction OF
$23066 to meet interest on bonds.
Other usual deductions brought this
total to S34, O65 SO compared with $685.
85649 This left deficit in net income
for June of $317.46 against net gain
in June last year of $3,176.36, or a de-
crease in the month under review OF
S3,49382
Revenue passengers Carried In the
Capital Traction lines in June totaled
2,9l0,281 against 3,247,664 in June,
1882, a decrease last month Of 337, 1888.
Since the last monthly report stock
holders of the Capital Traction Co.
voted unanimously in favor OF the
proposed merger with the Washington
that substantial economies would bring
about an upturn in net earnings.
Groom Is Protective Chairman.
Thomas J. Groom, vice president and
cashier Of the Bank Of Commerce &
Savings, who has been appointed
chairman of the District Bankers As
sociation's Protective Committee by
President George o. Vass, is one of
younger bankers. Before going to the
Bank Of Commerce g. Savings he was
for nine years connected with the
Washington Mechanics Savings Bank.
He was also with other banks for five
years.
Mr. Groom halls from down South"
Alabama. He is a graduate in law
and already has rendered valued serv-
ice to the District Bankers Associa-
ton through various committee as
signmentS.
The Protective Committee is one of
the most important of the associations
standing committees. Its work is not
spectacular, but most vital.
Acacia Business Up ~ Per cent.
William Montgomery, president OF
the Acacia Mutual Life Insurance Co.,
reported today that new insurance writ
ten during the first six months OF this
year totaled $19,865,331, as compared
with $16,298,820 in the corresponding
period in 1882, which represents an
increase of % per cent.
President Montgomery believes that
llllS 4CCOlo ID CACCAlCllG Al0ASdG4OAA
that business and employment condi-
tons are improving all over the coun-
try. The company reports that lapses
have been declining steadily and that
re-instatements are gaining rapidly.
The company's officials are looking
forward to the last half year with
courage and optimism"
Maryland Bank to Reorganize.
-
minister Savings Bank of Westminster,
Md, has been approved by John j.
Ghingher, State bank commissioner.
Depositors will receive rs per cent
of their deposits in cash, upon con-
summation of the plan, and the other
25 per cent in certificates Of beneficial
interest. The institutions capital will
be increased to 100000 from $4,000.
Wholesale commodity prices showed
another large gain during the latest
week according to the index Of the Ma
tional Fertilizer Association. This in
deX, based on 476 quotations gained "a
points during the week and advanced to
678 as of July IS. The latest index
number is IS points higher than it was
a month ago, 81 points higher than it
was a year ago and is only one point
below the level for July, 1881.
Trading on Washington Exchange.
Potomac Electric Power Consolidated
IS hogged practically all the interest on
the Washington Stock Exchange today.
These bonds opened with three 81 900
sales, all made at 1895. Two more
$1,000 transfers were then recorded at
1882. The last previous sales in this
issue were made at 104.
In the stock division, two shares Of
Potomac Electric 5l2 per cent preferred
came out on the board at the strong
price Of 108, same as the last previous
transaction. The days closing trans
action was a single share sale In Po-
tomac Electric Power per cent pre-
ferred at Ill.
Bid and asked prices were practically
unchanged in the other issues listed on
the Exchange.
Cleaned in Financial District.
Stein Bros. g. Boyce, Woodward
Building, announce that the firm has
become a member of the Chicago Board
of Trade and the Commodity Exchange,
Inc.
George o. Vass, vice president and
cashier Of the Riggs National Bank, and
president Of the District Bankers AsSo-
citation, is taking his annual vacation.
Local New York Stock Exchange Of
fees were crowded again today as the
recent feverish trading was resumed at
the opening. Market comment Just
now is most varied.
Offers Of cotton farmers to destroy
their cotton crop under the Department
of Agriculture control plan have ex-
ceeded 100000 900 acres, it was an
nounced by c. A. Cobb, chief of the