Evening star. [volume] (Washington, D.C.) 1854-1972, 1935-07-01
CAPITAL TRANSIT
EARNINGS MOUNT
May Net Reaches $500, 463,
Against $92,4O4 for Same
1884 Month.
BY EDWARD C. STONE.

laSG year. = gain Oh So,oooil VI o.
per cent. At the same time the Fed
eral Reserve Bank of Richmond re-
ported that retail trade In Washing
ton department stores in May scored
an increase of 81 per cent, far ex-
ceeding business in other sections of
the fifth district.
In the last of the May reports to
be filed with the Public Utilities Com
mission the Capital Transit Co. an
nounced that operating revenues to-
tailed S807, 567.32, against s740,06l 81
In Nav, 1884, an increase of s67.505 SO
or 81 per cent. Operating expenses
called for s557479.73, as compared
with s502.717.16 a year ago, an in
crease in operating costs of s54,762.57
or 10.9 per cent.
Operating expenses, taxes and de-
probation amounted to 1865 ,55o.13,
against s6o5.447S8, an advance of
S60,102 IS, leaving an operating in
come of s142.o17.1e. in comparison
with sl34,6l409, a gain over last year
of SIS per cent. May was one of the
few months since the street car con-
solidation when the increase in operat-
ing expenses has been smaller than
the gain in operating revenues.
Gross income in May totaled S154,-
$3.50. as compared with s148,922.3 80.
UP S5,4127l. The usual deductions
required s5387l.73. while this item a
year ago stood at S56.5l7.73 These
deductions left the net income in MAY
Of more than 100000. Revenue
passengers showed an increase Of l5.4
per cent, l3.07o.s50 being carried,
compared with ll,227,77O in May last
year, an increase of 1.743 $50.
Passenger Traffic Increases.
For the first five months of this
year Capital Transit reported oper-
ating revenues of $1,000, 07091, COM
pared with s3.465 ,675.19, up $751;
3e572, or 81 per cent. In the same
period operating expenses were up II
per cent Operating expenses. taxes
and depreciation totaled 5000, 400.79
against S2,785,92486, an advance of
s423,47593. or 15.2 per cent. This
left an operating income of s593, 670.12
in comparison with S679. 1908. which
was not up to last year by s86,08021,
or II per cent.
Incorporating income was slightly
lower this year, as was gross income.
Deductions from gross to meet inter-
est requirements took away s277.-
2175s while last years deducations
totaled $685., 26348. an increase this
year of s6,o45,9 80, and leaving net
income in the first five months of
1885 of s382.67443. as compared with
S46412509. drop of 81.450 66, or
ITS per cent.
Revenue passengers carried in the
five-month period numbered 6l.836,-
551. Last year revenue passengers in
the like period totaled 52,677 $50,
showing an increase to date this year
of 9159,o3l, or ia per cent.
d. c. Trade Makes Record.
Washington made the best retail
trade report in the fifth reserve dis
trict. according to the May report from
the Bank of Richmond received this
noon. Retail trade here was 81 per
cent higher than in May. 1884. while
retail trade in the whole District was
only nine tenths of ! per cent better
than last year.
The fifth Federal reserve district led
ell II districts in the United States
in reducing the number of bank
ruptcies in May. Chairman William
Eoxton reported in his monthly resume
OF business and credit conditions.
The commercial failure record for
MAY In the fifth district he said,
was the best record made by any of
the IL reserve districts. bankruptcies
in the district last month May num-
bering only q, in comparison with 81
IN May. 1884. and last months aggre-
gate liabilities of S507s13 comparing
with s1.7o6,753 in May last year.
Business in the month of MAY and
the first half in June in the five States
of the District averaged about up to
seasonal trends with tobacco manu-
featuring continuing at "a very high
level" with some small increase in
textile and coal production and with a
rather disappointing" record of re-
tail sales.
Fifty-eight wholesale firms reported
an increase over May. 1884. in bust
ness done in groceries, hardware and
drugs. with substantial decreases IN
dry goods and shoes.
Banks Need Higher Interest.
Prosperity will elude the banking
community until money rates stiffen
considerably. according to the A. B. A.
magazine. out today. The banks are
in an unusually favorable position to
finance industrial growth, the mag
azine says. adding that the extent Of
the Fall recovery will depend largely
on the automobile industry. which. in
turn. hinges on the crop situation as
reflected in farm purchasing power.
The review continues:
lone of the most interesting devel-
opments in the field of finance in re-
cent weeks has been the continued
strength in the stock market, which
in June moved into new high ground
for the present year. This is partly
q reflection of the better earnings of
business in 1884 and the first quarter
of 1885. partly in anticipation of pos
sible imitation.
Nothing has happened recently to
strengthen the expectation of infla-
ton. The only positive development
touching on the question has been the
rejection of the idea-at least of re-
sort to the printing press-in the Pres
idents forceful message vetoing the
Patman bonus bill The truth is, how
ever that there has been a great deal
of imitation talk, and that the specu-
lative community seems to be taking
it more or less seriously
Demand for Bonds Continues.
The demand for City & Suburban
IS on the Washington Stock Exchange
continued as the weeks business
opened today, five consecutive $1,000
sales being registered at SO. Wash
ington Railway e. Electric As we're
taken at 1051s, los and 1o434. A sale
of $1,000 Washington Gas IS, series
- 4.aI, ,,1,oo NJ 10A Tho on1x, stork