Evening star. [volume] (Washington, D.C.) 1854-1972, 1935-03-03
January Income S35,323,
Against S1O6,924 in Like
Period Last Year.
OPERATING REVENUES UP,
TRAFFIC ALSO MOUNTS
Washington Stock Exchange Wit
nesses New 1885 Peak Prices
During Week.
BY EDWARD C. STONE.


Total net earnings of the Capital
Transit Co. in January amounted to
S35.323 95 in comparison with $780,
924.26 in January, 1884, decrease of
ST. ,6O031, or 81 per cent, according to
the monthly report made yesterday to
the Public Utilities Commission. The
sharp slump in net earnings was due
to the very much higher operating
costs.
Operating revenues were substan-
TALLY higher. being $753 ,341 40, against
S666.369l2 in January, 1884, gain
of S86,97237. While this was an ad-
vance of 10 per cent. operating ex-
penses took a jump of 38 per cent.
standing at s573, 882.01, as compared
With S414563.l4 in the same month
last year, or an increase of $3.50. 1887.
Operating expenses, combined with
taxes and depreciation. totaled S674.-
597,61, in comparison with $514,846.17
in January of last year, a difference
of s159,75144. leaving an operating
income for the month of s73,743 88,
against the higher figure of S151,
52295 year ago, or falling off of
s72.77907.
incorporating income totaled S14.-
1851, up s1,454.48 from the January
figure year ago, making gross earn
ings, less operating expenses, taxes
and depreciation, stand at s93,478.99,
against S164,803.58, decrease of ST.
32459. The usual deductions from
gross called for $50 ,155 04, compared
with S57,879 80 a year ago, leaving the
above mentioned drop in net income
of more than ST. 1000.
All Operating Costs Higher.
The January traffic figures on the
Capital Transit lines were highly sat-
isfactory, showing substantial i'm
provement over the same month of
the previous year Total passengers
carried on the street cars and buses
numbered 16,609,170. against 1882
1856 in the corresponding month year
ago, an increase of 3,027 ,034, or 1928
per cent. officials point to the pas
serger figures as showing how street
car minded" Washingtonians have
become
The increased operating expenses,
which made such hole in net earn
ings in January. were brought about
by higher wages, an increase of more
than 500 employees on the pay roll,
the higher cost of power due to higher
fuel costs and the large amount more
power required with the additional
cars in service.
The item of way and structures"
was SAC, 900 larger this year than last.
AS January, 1884, was only the second
month of consolidated street car oper-
ationS, very little work on tracks had
been started. A large amount of such
work is now being carried out.
There was a difference of $4,000
In the expense equipment in January
this year and year ago. These items
alone account for more than $4,000
of the added costs which cut down the
net earnings. The revenue passenger
figures we're among the best OF any
month since the consolidation went
into effect, the growth in traffic long
ago having proved to be permanent.
The monthly report is the second in
which comparisons could be made with
months N previous years, as the mer-
ger did not go into effect until the last
month in 1888.
Exchange Quotations Strong.
In yesterdays trading on the Wash
ington Stock Exchange Potomac Elec-
trio Power 5la per cent preferred stock
sold at the strong price of ia. Capt.
tai Transit stock remained firm, three
10-share sales taking place at 251a.
Peoples Drug Stores preferred is now
being quoted ex dividend in antici-
patton Of the 81 SO payment due in a
few days. Washington Railway g.
Electric is also being quoted the same
way, the recently declared $40 per
share extra being due in short time.
The closing bid for the week for this
stock was 800, which makes it the
highest priced issue on the local board.
Several new high marks for 1885
were recorded during the week in Sc
curities listed on the Washington Ex-
change. Perhaps the most notable
recent move has been in Capital Trac-
ton SIS, the bonds closing yesterday
with SO bid and 81 asked, peak prices
reached in the last few days.
Holders of American Telephone
stock here read President Gifford's
annual report with great interest.
About $4,000 of the $4,000 stock
holders are women and more than
100000 are Bell System employees.
The average holding per stakeholder
Is % shares. Holders in Washington
have been highly gratified that the
company has paid the So rate, ever if
the dividend was not fully earned.
The slight upward trend in 1884 net
earnings indicated national business