Evening star. [volume] (Washington, D.C.) 1854-1972, 1935-08-20
v. R. I. NET RISES
SHARPLY IN JULY
Operating Total Reaches
S3,342, Compared With
$574 Year Ago.
BY EDWARD C. STONE.

Inc washington hdplQ TRANSIT TO-,
which operates the Sixteenth street bus
line, reported notable increase in
net earnings in July, according to
the monthly financial statement filed
today with the Public Utilities Com
mission. 1t was the first of the July
reports to be filed.
Operating revenues totaled S33,-
s66.80. compared with s29,961.46 a
year ago in July, an increase of
S4,005.34 At the same time operat-
ing expenses were held down to
$30,34208, as against $50, 1868, a
difference of S955.45. leaving net oper-
ating revenues of S3,624.72 in COM
parison with only S57483 in July, 1884,
an increase of $3,049.89.
Incorporating income was prac-
tically unchanged from July a year
ago. Deductions from gross called
for S39480 less than was needed in
July, 1884, leaving net income for
July Of S1,83246, against a deficit
year ago of S1,60785, or an improve
ment in the month under review Of
$3,440.31. The turnabout in earn
lllSS was SGlS W d
passenger traffic. bus travel having
increased the same as street car rid
ing has.
The seven-month report was also
filed. showing total operating revenues
up S26053.10 over last year, an in
crease in expenses and taxes of $l0,-
692.75, leaving an operating income
of SIS ,36035 and a net income of
s27,07l 40, against s9,03l41 year
ago; or an increase of $l8,040.08.
Business Here Still Climbing.
For the first seven months of the
present year business in Washington
continued the marked gains scored in
previous months. according to a sum-
mary of the latest barometers.
Kilowatt hour sales made by the
Potomac Electric Power Co. in July
totaled 46.506O compared with A
854,917 in the previous month this
year and 4l.798,055 in July. 1884, an
increase of 47l3.043, or 1923 per cent.
The report was the best of any month
so far this year except January.
Postal receipts scored another nota-
BILE advance with S4S3,047 as the total
for July, the first month in the new
Government fiscal year. While that
vas a seasonal drop from June of this
year. it compared favorabiy with the
lower figure of s424733 in July, 1884.
1t was also much better than the total
receipts in July. 1893, 1882 and 1881.
One of the best monthly gains OF
the year is revealed in bank clearings,
an advance of S19.333 ,065 being re-
ported by the Washington Clearing
House over the total for July. 1884.
A seasonal drop, compared with the
previous month this year, was noted.
Retail trade backs up the other
barometers in business advances. De-
partment store sales were practically
q per cent ahead of 1884 in July and
lead last years mark by good margin
for the seven months.
Telephone service figures always
give pretty clear picture of business
trends. There was a gain of 12,94l
telephones in service in Washington
between the end of July last year and
this year. The pickup in daily calls
was even more notable. the average
daily originating calls in July this year
standing at 1885, or a daily in
crease of 92.553 calls.
Hotel Business Stepping Up.
The trend of business in Washing
ton hotels in July. 1885. compared
with the same month last year, showed
a gain of 81 per cent this year. There
was gain of 30 per cent from room
revenues and % from restaurant food.
The Financial Chronicle reports
that the advance of 81 per cent in
total business compared with Is per
cent average gain in several other
large cities. The 80 per cent advance
IN room income here compares with
only 10 per cent for the other cities
in the review.
A group of cities in California re-
ported higher percentage gains than
in Washington on account of the San
Diego Exposition. Washington hotels
reported a considerably higher per-
centage of occupancy than in July
last year. They also reported a 2
per cent increase in rates
In New York hotel rates we're
exactly the same as year ago, while
in Chicago they were Is per cent
lower Eight leading cities reported
en- aggregate advance in rates of per
cent. Almost 80 per cent of the
Nations hotels reported increases in
total sales over year ago, IS per cent
enjoyed higher occupancy and so per
cent had higher rates.
Market Rise Aids Depositors.
The rise in the New York stock
market, which covers a period of about
five months, is proving a help to de-
positors in the closed banks in Wash
ington and elsewhere. The gains in
bond prices and in stock values has
placed many bank assets in a good
deal better position and will eventually
make larger payments to depositors
possible.
There are, of course, no figures on
the amount of the increases in asset
values. But every point in a stock
or bond helps the situation. Unless
there is general setback in financial
values some of the banks here may be
able to pay of 100 per cent, or nearly
that amount.
Closed bank officials, however, cau-
ton depositors against building their
hopes up too high. In all bank re-
ceiverships there are heavy expenses
to be taken care of. Payments of 100
per cent are rare.
Capital Transit Stronger.
Capital Transit stock showed more
strength on the Washington Stock
Exchange today when four 10-share
lots changed hands at 1872. The
market closed with l6 bid and II
asked.
Washington Railway & Electric ap-
peared on the board today at 106
and Security Storage Co. stock came
out on two sales at 100. Bid and
asked prices on other issues closed
firm