Evening star., 1935-08-06
CAPITAL TRANSIT
EARNINGS CLIMB
June Net Up 31.7 Per Cent
From 1884 Mark, but Six
Month Total LagS.
BY H. B. ROGERS.


pared to the similar period of 1884.
This was disclosed today in the
monthly report of the company to the
Public Utilities Commission.
Falling off of net for the first six
months this year was due largely to
improvement made in traffic, from
the old dual system of rails here.
New buses and street cars also
have been purchased.
Operating expenses have been on
the upgrade but operating revenues
for the month of June show greater
gain than operating expenses. This
gain so far has not been sufficient,
however. to overcome the heavy gain
ir operating expenses earlier in the
year, as the half-year period shows
the operating expenses gained 1854
per cent as against a gain of l0.4 in
operating revenues. April was the
first comparative month this year
when increased operating revenues eX-
ceeded the increase in operating ex-
penses.
Subject to Adjustment.
The gain of S28,943.44, or 3l.7 per
cent in net income for June, is sub
ject, however, to adjustment on ac-
count of the wage arbitration. EX-
planning this point the report to the
commission says: Operating eX-
penses and net income shown include
wages actually paid, subject to ad-
justment from April l, 1885, for in
crease in wage rates resulting from
wage arbitration. The amount OF
such adjustment applying to opera
tons for June, 1885, is estimated az
approximately S59,500.'
Deducting this from the June net
income of S120,224 so would pull the
net for this month down below the
net for June. 1884, which was S9l,-
281 06. but still leave a net June in
come of around 100000.
The report shows an increase in
depreciation for June Of As per cent,
and for the six months an increase
of 81 per cent, but the company still
claims the appropriation for depre-
citation is considered by the company
to be inadequate and application has
been made to the Public Utilities
Commission for adjustment"
Operating Revenues Gain.
The June report shows operating
revenues increased frou S7l9,463 .95
in 1884 to $818265.58, a gain of 1877
per cent, while during the same COM
parable periods operating expenses
jumped from S483 ,30O76 to S544,-
468.24. a gain of SCI ,l67.48, or 1877
per cent; taxes went up lit per cent;
operating income increased from
S133.433O4 to S162,59199, or 21.9 per
cent net income rose from S9l ,28l 06
to S120,224, or 31.7 per cent; depre-
ciation rose from $49.17737 to $751;
1896, or As per cent; total operat-
ing expenses, taxes and depreciation
increased from S58603O91 to $685.
67359, a gain of 119 per cent.
Revenue passengers showed a gain
from 10,768,741 in June, 1884, to H.
S68,710 this June, or 1875 per cent.
During the six-month period operat-
ing revenues rose from S4,185, 1914
to S4,621 ,336.49, a gain of 10.4 per
cent; operating expenses increased
from $2,770,9 ,950.03 to S3,226, ,736.70, a
gain of 1874 per cent; depreciation
went up from $294,243.12 to $685.
O4797, an increase of 81 per cent;
total operating expenses, taxes and
depreciation rose from S3,371, ,955.77 %
$685., ,07438, a gain of 14.6 per cent.
Operating income, however, for the
six months period showed Ielling
off from S813.183.37 to $756, 6,262.11.
decrease of s56, 6,92126 or per cent.
Net income also dropped during The
six months period from S555. .406l5 to
$500, 1893 SO, a decrease of $50 ,507.22
or 9.5 per cent.
Insurance Gains Seen.
Steady gains have been made in
Insurance Co. of the District of Co.
lumbia, it was reported at the 105th
annual meeting of the stockholders
in the Washington Loan g. Trust Co.
yesterday.
The company now has a paid-in
capital of S1,0O0,000 and surplus of
s1,277, ,s65.57, making a total surplus
to policyholders $2,277 ,965.57.
The following directors were elected
for the year beginning August S:
A. A. Hoehling, Charles E. Hood,
o. H. P. Johnson, James F. Mitchell,
Thomas c. Moore, F. Norie- Miller, S.
Norie- Miller, c. F. R. Ogilby, Alexander
K. Phillips. Douglas R. Phillips. Fred
erick Richardson and George W.
White.
Yeatman Much Improved.
Rudolph H. Yeatman, attorney of
this city, who yesterday was selected
general counsel and trust officer of
the Munsey Trust Co.. is at Atlantic
City, N. j., now, reported to be very
much improved in health" from re-
cent illness. He succeeds the late
Wilton j. Lambert, his former part
ner. Mr.. Yeatman long has been
connected with the trust company
as director and assistant attorney
He continues as a member of the
board. He is a native Washing
tonian.
AnacOstia & Potomac IS Active.
Anacostia & Potomac Railroad 5
per cent bonds, s325,00O of which will
be retired by the Baltimore National
Bank, trustee, were active on the
Washington Stock Exchange, today,
three of them in denomination of
$1,000 changing hands at 93l2. a
fraction under last prior sale Friday.
Potomac Electric per cent preferred
stock sold in two lots of five shares
each at 11112, and the same firms
51a per cent preferred went at ia.
Riggs National Bank common stock
sold at 213 and 2131a. Two shares
of Mergenthaler went at 28R.
Trading was suspended today until
further notice on the four local fire
insurance companies, until the Secur-
tiles and Exchange Commission can
complete the study of their formal
registration reports just filed. Trading
will be reopened on the exchange here
as soon as the reports are cleared
through the commission. Beginning
today and until trading Is resumed