Evening star., 1934-05-25
TRANSIT EARNINGS
MOUNT IN APRIL
Jump to s98,198 Level,
Compared to S91,095
During March.
BY EDWARD C. STONE.

in net earnings in April, as revealed
in the monthly statement just filed
with the Public Utilities Commission.
Net income for the month was $685.
1928, a good increase over the net
revenues of S91, ,095. 40 in March.
Operating revenues in April totaled
$713, 1904: operating expenses, taxes
and depreciation $572,880.72, leaving
an operating income of $140, ,909 u.
Gross income less operating expenses,
taxes and depreciation amounted to
$155,U2 SO. Deductions from gross
were $56,831.36. The company carried
10,769,264 revenue passengers during
the month.
For the first four months of the
present year, Capital Transit operating
revenues totaled $2,725, 1922; operat-
ing expenses, taxes and depreciation
required $2,180,47698, leaving an op-
Grating income of $545, ,13624.
Gross income reached the sum Of
$500, ,46618 from which deductions of
1925, ,73575 were made. This left a
total net income for the four months
period of $371 ,72043, an amazing re-
versal in earnings from what the two
separate street car companies reported
in the like period year ago.
Up to May of this year the merged
street car lines and their bus services
had carried Al, ,349, $50 revenue passen-
gers.
City Leads Others in Trade.
Washington led many other cities in
the fifth Federal Reserve district in
percentage gains in retail trade last
month, according to reports from the
Bank of Richmond received here to-
day.
The gain of 88 per cent in depart
ment stores sales over April. 1888,
compared with a gain of ST per cent
in Richmond, decrease of At per
cent in Baltimore and an advance OF
80 per cent as the average for the
whole district.
In the first four months of the pres
ent year, department store sales in
Washington were up 1863 per cent.
Richmond reported a gain of 26 per
cent, Baltimore II per cent while a
group of other cities made a 81 per
cent increase in sales. The average
gain for the whole district was 1875
per cent.
Stocks of goods on hand in the
stores here at the end of April were
20 per cent higher than at the same
time a year ago. Stocks in Richmond
stores were up "a per cent, in Balti-
more, 80 per cent. and % per cent was
the average gain for the entire dis
trict.
During the month stocks in Wash
ington stores were turned 3l5 times.
From January l to April &c. stocks IN
Washington stores were turned l.158.
Collections last month were good. %
per cent of the outstanding receiv-
ables in local stores being paid during
the period. For the whole district the
percentage was 283, the Richmond
bank reports.
Reorganized Banking Favored.
With respect to commercial banking
the Guaranty Trust Co.'S monthly re-
view says that banking legislation
could be greatly strengthened and i'm
proved by legislation repeating the
permanent deposit guaranty plan and
reorganizing the banking system along
lines that would provide reasonable
assurance against a repetition of the
unhappy experiences of recent years.
It also declares that if recovery is
to proceed in normal way, it is abso-
lutely essential that business con-
Germs be allowed to earn reasonable
profits-that is, profits sufficient to
meet their obligations, to attract new
capital, to offer an incentive to en-
terprise, and to provide adequate re-
serves against future contingencies.
At present, it says, the earning
power of many busines concerns is
being threatened from two directions;
namely. additional burdens imposed
by codes and the possibility of excess
sive increases in governm entail expen-
ditures and in the public debt, with
Its resultant tax burden upon industry.
Large Attendance Assured.
It was announced today that there
will be an unusually large attendance
of the fair sex at the District Bankers
Association convention at White Sui
phur Springs About so wives of the
fnanciers and other feminine mem
bers of their families will take the
trip, which starts tomorrow evening.
Mrs. George o. Vass, wife of the
president of the association, is chair
man of the Women's Committee.
which prepared many most interesting
events for the four-day program
Luncheons, golf. bridge and a score
Of other amusements will make the
time fly all too fast.
The other members of the Special
Committee, besides Mrs. Vass, the
chairman, include Mrs. Frederick P.
H. Siddons, vice chairman; Mrs. Karl
w. Corby, Mrs. Albert S. Galley, Mrs.
Eliot H. Thomson, Mrs. B. L. Cotton,
Mrs. William Miller, Mrs. Wilmer j.
Waller, Mrs. T. S. Holland, Mrs. H
G. Hoskinson, Mrs. Joshua Evans and
Mrs. Charles H. Doing.
Several special prizes in the golf
contests have been arranged The
bridge prizes have also not been for
gotten.
Lanston Is Market Leader.
LanSton Monotype stock led trading
IN the final session of the Washington
Stock Exchange for the week. Ten
10-share sales and one smaller sale
were made, all at 46. the same price
which has prevailed in other recent
transactions. The only other sale for
the day was in Washington Railway
& Electric preferred, which moved at
99R.
United Corporation declared the
regular quarterly dividend of rs cents
on the So preference stock, payable
July to stock of record June S.
A decline in retail sales in rural
districts was recorded during April,
although the total remained above a
year ago, according to Department of
Commerce.
Rejecting increases in iron and
steel, automobiles and meat packing,
the volume of manufacturing produc-
ton continued through April the ad-
vance started last November, accord
ing to summary prepared by the
Federal Reserve Board.
ILLINOIS CENTRAL NET.
CHICAGO, May 25 R.-While the
NOT oparotinO income of tho Tl1ipois