Evening star., 1935-12-20
v. R. 7. EARNINGS
INCREASE SHARPLY
Operating Net of $57,086
for II Months Is $25,373
Ahead of 1884.
BY EDWARD C. STONE.

the washington Rapid Transit Co.,
which includes the Sixteenth street
bus service, reported striking improve
ment in earnings.
Operating revenues in the first II
months of this year totaled $4l5,-
2O4.66. an increase of $44, ,l49 "a over
the like period year ago. Operating
expenses and taxes called for $685.
Il7.97. an increase of $18,775.76. but
far below the gain in operating reye-
nues and leaving operating income of
S57,086.69, an improvement Of $25,-
3735S.
After all the usual deductions from
gross the bus line reported total net
income of S37,753.44, in comparison
with only s8431 SIS in the comparable
period in 1884, or jump Of S29,321 SO
over last year. In making this strik-
ing gain in net revenues the company
carried 4,1O6,361 passengers during
the II months.
The report for November alone
showed operating revenues of $40,-
O72.69 against 34,98997 in Novem-
ber, 1884. Operating expenses and
taxes totaled $34,175.53, as compared
with S3l ,069.39 last year, making an
increase in expenses of s3,106l4,
against the better increase in operat-
ing revenues of $5,082.72.
Net operating income stood at S.
897l6, in comparison with $500. SO
a year ago, up $1,976.58. Nom
operating income was practically the
ENni
gained almost $4,000 Usual Novem-
Der deductions called for $l,754.61,
compared with $2,O40.45, leaving a
net income for November of 81 ,209 .87,
as compared with $l,944S6, or in
crease of S2,265o1. November pas
sengers totaled 407,945.
New Air Insurance Planned.
Six of the largest casualty insurance
companies in the United States an
nounced today, through David c.
Beebe, president of the United States
Aviation Underwriters, Inc, that be-
ginning January l, 1886, they will un-
derwrite a new form of insurance for
airline commercial travellers, which
will compare favorably in cost with
other travel insurance. The COM
panies which will issue this new insur-
ance are the Aetna Casualty & Surety
Co., Century Indemnity Co., Hartford
Accident & Indemnity Co., Maryland
Casualty Co.. New Amsterdam Casu-
atty Co. and United States Fidelity &
Guaranty Co.
The new insurance. termed "air-
surance," will be an employers volun-
tary contractual liability policy under
which it will be possible for an en-
ployer to obtain up to $4,000 inSur-
ance for each employe named in the
policy at rate of 81 per $1,000 per
year. The minimum premium for any
one employer will be $50, covering
five or more persons, as the employer
may designate.
More Dividends Declared.
The board of directors of the Colum-
bia National Bank yesterday declared
a quarterly dividend of $1.50 per share,
payable on January 2 to stockholders
of record December 81, President Frank
J. Stryker announced today.
Mackubin, Legg g. Co., national dis
tributors of Fundamental Investors,
Inc, announced today that the direc-
tors have declared a dividend of
cents per share, payable January to
stockholders of record December 10.
Disbursements for the year from
January 8, 1885, to January 2, 1886,
totaled 9l2 cents cash and per cent
in stock, as contraSted to cents cash
and per cent in stock for the year
January 3, 1884, to January 2, 1885.
Investments taken at market quota
tions as of the close on December IT,
1885, had an excess market value over
cost equivalent to 1923, ,377.44.
A six-point plan for obtaining proper
administration of the fiscal affairs of
municipalities has been advanced by
the American Institute of Accountants,
national professional organization, and
submitted to its members, civic organ
izations and municipal officers in this
locality and throughout the country
The plan was devised by the Institutes
Special Committee on Governmental
Accounting, Goodwin P. Graham Of
this city being a member of the COM
mittee.
D. c. Bank ClearingS Rise.
For the week ended December 10,
bank clearings rose almost 80 per
cent above the corresponding week a
year ago, the Clearing House reports
This was much higher than the aver
age gain in % other cities and also
far above the gain in New York alone.
Baltimore reported gain of 81 per
cent and Richmond reported tiny
Cpturn of OF per cent. Atlanta was
up "a per cent.
A further improvement in the
heavy industries last month carried
business activity to the highest level
since August 1880, and above the
speculative peak of July, 1888, ac-
cording to the monthly business index
Of the Annalist, New York Since the
start of the current recovery in June,
1t has risen IL points, and by last
month had recovered SIS per cent of
the loss between the 1929 high of
1l6.7 and the depression low of 58.4.
The weekly market letter of Henry
Clews g. Co. says that the impending
session of Congress is slowly but surely
having its influence marketwise, this
being reflected in the present irregular
tendency in evidence, together with
contraction in activity. Naturally,
wouldbe operators are inclined to wait
until after January 2 before making
commitments on a broad scale, so
they may, if possible, obtain some sort
of line on what is going to happen in
Congress. Sentiment in Wall Street is
hopeful, if hesitant, the review adds.
Capital Transit Stock Active.
Capital Transit stock was active on
the Washington Stock Exchange to-
day, 100 shares changing hands at Is
In seven consecutive transactions. The
price was unchanged from other re-
cent sales.
Mergenthaler Linotype recorded a
29-share turnover at 81, also un-