Evening star., 1933-01-13
CAPITAL TRACTION
NET Off S3OS,D7
Competition of Taxicabs and
/ Private Cars Cuts Into
X Revenues.
BY EDWARD c. STONE.

/ According to the Capital Traction
Co.'S annual financial statement, COM
petition with taxicabs and private auto
mobiles caused a reduction of $685.
CAD 30, or 161 per cent in revenues
ceceiTed during 1882.
Total revenues from transportation
by railway and buses during the year
amounted to S3,196, T33.48, a decrease
oi 5000, 1858. Revenues from opera
tions other than transportation totaled
S23,607.56, a falling off OF SIG,
leaving gross operating revenues OF
S3.2Go, ,5elo4, a decrease of S6l6,949.3 30.
Operating expenses called for 80.2 per
cent of the gross revenues and totaled
Sc, $50 sos go, a decrease OF 1861 "a,
leaving a net operating revenue for the
year 1882 of 1896, ,78705, a decrease OF
$37I 9S7.76
Incorporating income showed very
slight increase during the year. After
the deduction of taxes aSsignable TO
transportation, the Capital Tractlon
CO reported a gross income of S432,-
e29.24, a decrease of S305,552.05, COM
pared with 1881.
7ntcrSss on bonds ard tor all other
p.--ro-o5 rc1uir5d reductions from gross
c: G.75.65l 90 during 1882, dccreHs2
Of G3.15j.55,
A-lTr til Cc0uCGlOIiS lOI tHCiy PuA
r-~c. TIE company was left with net
income for 1892 Of onlv $5726602 a
decrease in net earnings during the
year of s308,707.90.
Heavy Cut in Expenses
The Capital Traction Co. made a
notable showing in cutting expenses
curing the year. officials reported that
operating expenses were $244, ,96l .54 less
Of O Y
New track extensions and new buses
end bus equipment required over 100000
during the year, but the street car
company benefited somewhat by the
lower prices paid for materials.
Other features of the annual report
appear elsewhere in today's Star. Presi-
dent John H. Hanna told the stock
holders that he believes much OF the
less in present traffic can be made up
when business conditions get back some
where near to normal.
The great ma aiority of Capital Trac-
tion's stockholders are Washington
people and President Hanna asks the
fullest possible cooperation from them
IN helping to bring about better condi-
tions in the company's financial affairs.
Gas Bonds Lead Exchange.
Trading on the Washington Stock
Exchange was unusually interesting
again today because Of the heavy de-
mand for Washington Gas Light 5s,
1858, now being sold on a when issued
basis.
The days business recorded 10 diff
ferent transactions in this new bond
issue all sales being made at 94H4
The days turnover totaled S21 600,
the largest blocks being $4,000 and
$4,000 transfers.
Not since before the break in Wall
Street in 1929 has trading been as
heavy in local bonds as it is at present.
Today's local market opened with 10
shares of Capital Traction stock SELL
ing at 10k.
After call, $500 Capital Traction IS
came out at 5514, practically the same
price as recorded on the last previous
sale
Local Bank Clearings Jump.
Washington bank clearings showed
sharp gain during the week ended
January IL. according to figures kept
by the Washington Clearing House As
sociation. =
Clearings for the week totaled $19,-
$4,000 against only $15,705,000 in the
week ending January 4, and 14.5 per
cent under the corresponding week in
1881
Richmond clearings also showed a
gain, being $28,037 900 compared with
$27,74O,000 In the previous week and
only 25 per cent below the total in the
same week in 1881.
Baltimore also reports gain in
clearings. the figures being S53,23S,000,
in comparison with $51, ,791 900 week
ago and 19 per cent under year ago.
Norfolk. Va, and Atlanta, Ga, also
recorded gains among the Southern
cities, although, of course, under the
1881 figure.
Bank clearings at At leading cities Of
the United States, as reported to Brad
streets Weekly, totaled S4,63l ,831 900
for the week ended January H. This
is drop of 81 per cent from the pre-
ceding week, for which New York City
Is mainly responsible.
Outside the financial center the de-
crease was 81 per cent. From the
corresponding week year ago declines
of rs and 1875 per cent, respectively,
are shown.