Evening star., 1935-10-01
Pay Roll, Depreciation, Tax
Adjustments for Other
Months Included.
BY EDWARD C. STONE.

creased to conductors and motormen
dating back to April. The Utilities
Commission has just allowed an ap-
plication for greater depreciation on
busses, about 100000 being involved
in this favorable decision.
These changes in expense charges
also make changes in the tax pay
mentS of considerable Importance. 1t
was decided by the Capital Transit
officials that it would be best to make
the sweeping readjustments all in one
month. This was done SO that the
August figures do not give an accurate
picture of business in that month.
Without the heavy deductions the
street car company had fine months
business.
Operating Revenues Higher.
Operating revenues were again high
er in August, standing at S772, ,167 %,
against S677, ,767 26 in August last year,
an increase of S94 ,39996. or 1879 per
cent. At the same time, operating
expenses, taxes and depreciation re-
quired 1888 ,08069, against S594 II
a year ago, an increase of 1868, ,816 98,
or 81 per cent
Depreciation alone was placed at
Sis. .16469, as compared with only
S49,237.5l. an increase of S65, ,927.18,
or 1873 per cent, and leaving operating
income deficit of $l85, ,9l347, against
operating profits last year of S83,-
503.55, placing the total decrease at
S269, ATOP.
Incorporating was lower in August
this year than last. Deductions from
gross called for $50, l03.93, compared
with S56 ,463 48, or a saving of $685.
This left the total net income in the
red by 1924 ,4606l, against a net profit
in August of SAL ,43101.
The company carried l2,432, ,794
revenue passengers in August, against
10,307,941 last year, gain of 2,124,-
1853, or an advance of 20.6 per cent.
Eight-Month Report Filed.
The Capital Transit Co. also filed
the statement for the first eight
months of 1885. this, Of course, in
Guiding the August readjustments
Operating revenues in this period
totaled $6,173,776.89, against S5,537,-
621.07, an increase of $685., 155. 80, or
lis per cent.
Operating expenses totaled S4,619,-
22227. against S3,749,1l865, up $780,
103.62, or % per cent. Taxes called
for $500, ,273.97, saving of S7,54430,
while depreciation totaled SAT- 1866 81,
an increase of S79,174.16.
Total operating expenses, taxes and
depreciation stood at S5,48l ,362.6l. as
compared with S4,539,62913 a year
ago, a gain of $941, 1888 48, an increase
of 20 per cent.
This left a total income from op-
erations of s692, ,4l428, which was
S305 5,577.66 lower than last year. Nom
operating income was also lower, which
reduced gross somewhat. Deductions
from gross were $4,000 lower than
last year, leaving a total net income
of S347,65665, compared with $685.
06998, a decrease of S307,413.33, or
46 per cent. The net, however, is
q substantial sum toward dividends
on the stock. During the period there
in the number of revenue passengers
carried.
Soper Joins Gillet Staff.
Robert l.. Soper, formerly with the
New York Stock Exchange firm of
Halle & Steiglitz, has become asso-
ciated with Gillet g. Co., Inc, whose
local Offices are in the Woodward
Building. He assumed his new invest
ment duties today.
Mr.. Soper. a native of Boston, had
his early training in the banking
business with the First National Bank
of Boston at its home Office and at
the branch office in Buenos Aires.
He attended Lehigh University.
Gillet & Co., Inc, is one of the
older investment firms in Washing
ton. Its other offices are at Balti-
more, Philadelphia and Williamsport.
Charles R. Connolly is manager of
the washington office.
September Trade Favorable.
The Federal Reserve Bank of Rich
mond reported today that trade in
August and early September was fully
up to the seasonal level" Construc-
ton contracts in August doubled those
Of 1884. Employment also improved
Earning assets of the Reserve bank
rose slightly and the circulation of
Federal Reserve notes increased with
the opening of tobacco markets and
the beginning of early Fall trade
Member banks slightly increased
their loans and materially increased
demand deposits. Debts to individ-
ual accounts declined 29 per cent in
comparison with the four preceding
weeks, but were 109 per cent higher
than in the corresponding period
OF 1894
Commercial failures were fewer in
August than in the same month last
year, but liabilities were S1,431,2O7
as compared with $44o,675 in Au-
gust, 1884.
Today's Trading on Exchange.
Capital Transit stock sold at 18 fiat
on the Washington Stock Exchange
today. Potomac Electric Power 6la
per cent preferred came out at l1o on
small transfer.
Capital Traction SIS appeared on the
board, $500 selling at 96as and 81 900
at 9612. The market closed with Mer-
genthaler Linotype figuring in two
10-share sales at 281a.
All the New York Stock Exchange
Offices here are now on the Winter
time, quotations starting at 10 o'clock.