Evening star., 1935-12-03
CAPITAL TRANSIT .
| EARNINGS LOWER
October Net Drops to $685.
092, Compared to $50, ,238
in 1884 Month.
BY EDWARD c. STONE.

BG0,U0S.oU loOIA "AtAA pOVb-
1882 in October. 1884. a decrease OF
s67.I46.56 or "a per cent, according to
the monthly statement just fled with
the Public Utilities Commission. 1t
was the last of the utility reports to
be filed with the commission covering
October returns.
Operating revenues totaled $780,
6o6.53, gain of s76,312.85, or 10 per
cent. AT the same time operating ex-
penses increased $110,415.32, or 81
per cent over October, 1884. The
item of depreciation stood at ST.
55836 against only $49,O58.59 in the
same month last year. an increase OF
S28,4e9.77. or So per cent.
Operating expenses, taxes and de-
probation combined required $780,
15548 against S63l ,49l.ll year ago,
an increase of $137.664.37, leaving a
net operating income for october Of
S70.45105 in comparison with $l31,-
BOOST, a shrinkage of SOL .350.52. or
As per cent. Incorporating income
also was slightly lower, reducing
gross.
The sharp tumble in net earnings
was due chiefly to the higher operat-
ing expenses. Recent wage increases
are included and the number of en-
ployeS is much larger than year
ago The increase in the amount of
depreciation allowed also reduced net
earnings by a substantial sum. Two
items in the October report have
changed greatly. Taking the street
cars off Connecticut avenues has re-
duced the amount of electricity used
materially while the gasoline bill has
jumped to much larger figure in the
bus expense column. However, this
has little to do with final net returns.
Ten Months Returns Filed.
The Capital Transit Co. also filed
the report for the first 10 months OF
1885 showing operating revenues Of
$7,754 4,168.17, an advance of $780,
1929, or IL per cent. Over against
this was a rise in operating expenses
to S5,831, ,537.20, an increase of S1084,-
24402, or a jump of % per cent.
An increase over last year was re-
ported in depreciation, the advance
being 27,3O3l9 or over rs per cent.
Total operating expenses, depreciation
and taxes showed an increase of ST.
204, 1907, leaving an operating In
come of $813.745.73, a decrease of
S413,68154 or 33 per cent.
After the usual deductions from
gross. the transit company reported
a net income in the 10 months of
S374,565 %, in comparison with S801, =
1887, off $426,6l8.29. This was a
drop of 53 per cent compared with the
like period in 1884.
Revenue passengers made a gain OF
18.526,669 in the 10 months, an i'm
provement of 17.3 per cent. In Octo-
ber alone, revenue passengers totaled
13.995,284, against 12,479, ,981 in Octo-
ber, 1884, an increase of 6-5 per cent.
Fleming to Be Honor Guest.
Robert w. Fleming, president Amer
lean Bankers Association, president
Riggs National Bank, and S. Sloan
Colt, president New York State Bank
ers' Association and president Bank
ers' Trust Co., will be the guests of
honor at the twenty-second annual
dinner of the Bankers Forum to be
held by the New York Chapter. Amer
lean Institute of Banking, at the Ho-
tel Roosevelt in New York December
10, it is announced John c. Knox,
United States district judge, southern
district of New York, will be the guest
speaker and H Donald Campbell,
president the Chase National Bank,
will preside.
The 1886 Spring meeting of the
Executive Council, American Bankers
Association, will be held at the Home
stead, Hot Springs, Va, April 27-29,
inclusive, it was announced today. In
association affairs this meeting of the
council is second in important and
authority only to the annual conven-
ton held in the Fall, and is usually
attended by about 800 bankers and
members of their families from all
parts of the United States
Fischer Insurance Speaker.
Chester o. Fischer, general agent
OF the Massa chusetts Life Insurance
Co. in St. Louis, was the guest speaker
at the December luncheon of the Dis
Association at the Willard Hotel this
noon. He is a member of the Board
OF Trustees of the National ASSocia-
ton and chairman of its Bylaws
Committee. He discussed many prob
lens Of great interest to the insurance
men here. j. E. McCombs, asSocia-
ton president, presided at the
luncheon a W a I
writer's were present.
e. H. Rollins & Sons and George
Snyder & Co. were awarded $780, 900
City of Frederick. Md, 2% per cent
sewer bonds on their bid of 101 33
The issue is dated December /, 1885,
and natures 1865. Second high
bid of 100.235 for 2as was submitted
by Stein Bros. & Boyce group. w. w.
Lanahan e. Co., Baltimore, offered
10054 for S159,000 as 2a4s and 101. .319
for the remaining $91 900 as IS.
Today's Trading on Exchange.
Capital Traction SIS opened trading
on the Washington Stock Exchange
today with $500 sale at 9512.
Later Georgetown Gas IS came out
in $1,000 and $500 denominations al
1l3, while Washington Gas 6S, Series
B, changed hands at 100la.
Stock trading included sales in Po-
tomac Electric Power 512 per cent pre-
ferred at 112A and Riggs National
Bank preferred at l05.
The bid on Mergenthaler Linotype
jumped today to SO, with 3s asked. Nc
sales. Railway g. Electric common re-
mains $500 bid per share and $500
asked.
Financial District Gossip.
The Federal Reserve Bank of Rich.
mond reports that retail trade in the
last few days has reached the highes
levels of the current season. Auto.
mobile sales are exceptionally good
and furniture dealers report increased
activity. Wholesale lines are also i'm
proving. the report states.
Morris Plan Bank is entering the
automobile financing field In metro