Evening star., 1935-04-28
TRANSIT NET LAGS
BELOW 1884 LEVEL
DESPITE RECOVERY
March Total at $88,600,
Compared With $38,891
in February.
OPERATING COSTS SHOW
CONTINUED INCREASE
Higher Revenues Offset by Climb
in Months Expenses to $44,69
Above 1884 Mark.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Net income of the Capital Transit
Co. in March totaled $88,6OO against
SOL ,095.4s in March, 1884, decrease
Of $2,4s5.4 40 or 81 per cent. Earnings,
however, were far better than the net
income of only $38,89126 in February
Of this year, according to the finan-
cial statement filed yesterday with the
Public Utilities Commission.
Operating revenues totaled $758,-
20675 against s716,13981 in March.
1884, an increase of $42,066.94 At
the same time operating expenses
increased even more, $523, ,685.45. COM
pared with s478,99028, an advance
Of $44,69817. Taxes were up $l.075.97.
while depreciation totaled $50,666.02
against $48,94708, an increase in this
item of s1,71S94.
Total operating expenses, taxes and
depreciation amounted to $628, ,820.13
Is compared with 1881 ,32705 a year
ago, an increase of SAT .49308, leav-
ing a net income from operations of
$129,386.82 against $134,812.76 in
March, 1884, or a drop of $5,426.l4.
Gross stood at $142,659.18 against
$147,658.86 and the usual deductions
from gross to cover interest required
S54,059.18, as compared with $685.
563.37. The number of revenue pas
sengers carried in March showed
fine increase. 12,493.398, compared
with t1,024,821 revenue riders in
March q year ago, Jump Of 1,468,577
or 1873 per cent.
For the first quarter Capital Tran
sits operating revenues totaled ST.
1sS67892 against s2,011,822.78, a
gain of Sl86,856.14. At the same
time operating expenses totaled ST.
300 ,206.35, as compared with $1,607.-
59626. a Jump in operating costs OF
1901 $1,000, or 1873 per cent, while
the revenue gain was 93 per cent.
Operating income amounted to $780,
472.57 while in March. 1884, this fig
ure stood at $404, 4,22652. a falling off
this year of $114,753.95 or % per
cent.
After deductions for bond interest,
net income for the three months to-
tailed $l62,81521, compared with
$273 3,522 20, slump of s110,706.99. or
40 per cent. Revenue passengers
numbered 36,147,598 in comparison
with 30,580, 1876, a pickup of 5,567,112
or 18 per cent.
Capital Leads Trade Area.
With a % per cent gain in depart
ment store sales in Washington in
March, and an advance of 10 per
cent in the first quarter, compared
with the like periods last year, this
city led all the other leading trade
centers in the Fifth Federal Reserve
District in business advances, ac-
cording to the monthly trade COM
parsons announced by the Reserve
Bank of Richmond, the report COW
ering returns from 81 department
stores In this territory.
March retail sales in Richmond
showed a drop of per cent and in
Baltimore 10 per cent, while the |
average for the whole area was down
s per cent. For the first quarter
sales in Richmond were the same as
last year, Baltimore sales were off
2.7 per cent. The washington figure,
however, brought the average for the
whole district up to 2.9 per cent |
above last year.
Stocks on hand in Washington
stores were IL per cent higher than
at the end of March year ago and
IT per cent above the figure at the |
end of February this year. During |
the month under review stocks in
the stores here were turned 0.355
times and 0.94 times during the first |
quarter. On receivables due at the |
beginning of the month, 20 per cent |
were collected.
In studying the comparisons it
should be noted that March, 1885, con- |
tanned one fewer business days than
March, 1884. Easter Sunday oc-
CURED on April l last year and on
April 81 this year, moving trade for
ward about three weeks.
Trading Lively on Exchange.
In one of the busiest sessions of
the week on the Washington Stock Ex-
change, 16l shares of Washington
Railway & Electric preferred stock
changed hands yesterday at los.
Two 50-share blocks figured in the
sales, the rest in small lots, the price
being the high for the year.
The market opened with Potomac
Electric Power IS selling at 110 on
Q 1000 turnover. Washington Gas SIS,
1858, recorded a $4,000 transaction
and $1,000 sale at los. the 1885
peak price in this issue. Washington
Gas IS, series B, sold at 1882. Il
Other bond sales of interest were
81 900 transfers in Washington Rail-
way & Electric As at 1855 and 104. |
City g. Suburban SIS were also popu-
lar, two $1,000 sales taking place at !!
% following the recent price Jump
from IS. Stocks were neglected, the |
days only sale being in Riggs National
Bank common at 2l6.
According to the exchange list, |
Washington Gas Light, washington |
Loan & Trust, American Fire 1nsur-
ance Co. and the Lanston Monotype |
CO. will pay regulor quarterly divi-
dends in q few days.