Evening star., 1936-06-26

gain III revenues. lie IlcI ulCOiiic VI
S7,66992 from operations was s324.27
higher than in May, 1885.
Incorporating income was practi-
cally the same as year ago. De-
ductions from gross called for ST 1.825.77
which was also practically the same as
last year. leaving the above stated
gain in net income.
Net income for the first five months
of 1886 was also reported to the COM
mission, this figure standing at ST.
26931 against $l9,745.67 in the like
period in 1885, an increase this year
OF s7,523.64.
The financial statement filed with
the commission also included copy
of the balance sheet as of May l,
assets and liabilities totalling Sl,038,-
1880 as compared with the lower
figure of 1868, ,29277 on the same date
year ago. From now on these figures
covering the operations of the Six
teenth street buses viii be incorpo-
rated in the regular Capital Transit
Co. reports.
Thorn on Steamboat Board.
Corcoran Thorn, president Of the
American Security & Trust Co., was
elected a member of the directorate
of the Norfolk g. Washington Steam
boat Co., at the board meeting yester-
day afternoon. He was named to fill
out the unexpired term of the late
George L. Starkey, president of the
National Bank of Washington, who
rendered the steamboat company
most valuable service over a period of
many years.
Mr. Thorn is a director in several
other important Washington corpo-
rations and is one of the best known
bankers in the city.
The Norfolk g. Washington direc-
tors also declared the regular semi
annual dividend Of 3 per cent, pay
able July Is to stock of record July
S, President Clarence F. Norment, jr.,
announced.
Pennsy's Net Income Gains.
Details from the May report of
the Pennsylvania Railroad show that
net railway operating income reached
a total of S6,895,912, an increase Of
s1.526.o0s over May 1885.
There was a gain of almost $5,00O,-
900 in freight revenues and s498,058
penses required S24,479,118, an ad-
vance of s2,848,230.
In the first five months of this
year operating revenues amounted
to S126, 122,457, an increase of S18,-
244,809. Passenger revenues totaled
S27,380,846 a gain over last year Of
S2,472,816 At the same time ex-
penses increased by over $16,000,0o
leaving a net railway operating in
come of s28,473,063, an increase of
s1,318,106.
Five months net in 1885 stood at
$27,154,957 and in 1884 at s26,3O8, ,469,
the trend being steadily upward.
Attend Bankers Convention.
I. I. Chorpening. chief national
bank examiner, fifth Federal Reserve
district, and w. T. Vandoren, vice
president and cashier of the Liberty
National Bank, left Washington last
night for Hot Springs, Va, where
they will attend the forty-third an
nual convention of the West Virginia
Bankers Association. Mr.. Vandoren
will address the convention on the
subject of trust departments.
Robert v. Fleming, president Of the
Riggs National Bank and head of the
A. B. A., will make the leading ad-
dress at the same convention tomor-
row forenoon.
Heavy Motor Travel Seen.
George E. Keneipp. manager of the
Keystone Automobile Club, reported
today that membership gains have
been striking during June In one day
recently 1o4 membership applications
were received, he said, the best single
days record since the club was
founded here.
These membership gains reveal the
steadiness of the local economic situa-
tion and also indicate the increasingly
heavy volume of travel planned and
undertaken by Washington residents"
MIR. Keneipp says. They provide an
accurate and an important index of
improving business conditions gen.
orally"
Bank Declares Dividend.
The Board of Directors of the Ma
tional Capital Bank yesterday declared
a dividend of 50 per share on the out
standing stock, payable to shareholders
on June 80.
Definite indication that the New
York Stock Exchange will give close
study and discussion to the ideas of the
Securities and Exchange Commission
on broker-dealer segregation, as con-
tanned in last weeks report to Con-
gress, with members being given op-
portunity to express their views on the
subject, Is contained in letter sent to
members by Charles r. Gay, exchange
president.
Membership on the reorganized Fed
eral Reserve Board was brought to its
full strength of seven for the first time
yesterday when Chester c. Davis, for
mer agriculture adjustment admins
traitor, was sworn into Office for an
eight-year term.
Capital Transit Stock Rises.
Capital Transit stock advanced to
15H on the Washington Stock Ex-
change today after closing yesterday at
14%, reaching a new high mark for
many months.
Potomac Electric Power 51a per cent
preferred was in active demand around
recent levels. Washington Railway &
Electric preferred was also in lively
demand, eight consecutive 10-share
sales and other taking place at 110k.
Mergenthaler Linotype was one of
1f hn
share blocks selling at At, up a point
from yesterday and new high for
long time. National Bank Of Wash
ington stock registered 125.
Capital Traction IS moved at 911a
and Washington Gas Is, series B,
changed hands at recent levels.
stA