Evening star., 1936-10-03
TRANSIT VOLUME
CONTINUES TO RISE
August Passenger Total of
13,402,406 Is 7.8 Per
Cent Above 1885.
BY EDWARD C. STONE.

report filed with the Pubic UCllltleS
Commission. covering August and the
first eight months of 1896.
Total revenue passengers carried In
August numbered 13 402, ,406. or an in
crease Of 7.S per cent over the record
for August, 1885. This gain, however,
is reduced to 5.13 per cent when the
passengers carried by the Washington
Rapid Transit Co. in August, 1885,
are included, the lines not having been
merged year ago.
The eight months climb in passenger
traffic is still better, l12,024,670 fare
paying passengers having used the
companies lines, an increase OF H.
360,619 over the like period in 1885,
or q gain of 12.4 per cent. This per-
eentage figure is also reduced some
what if the bus-line passengers carried
year ago are included. Referring
to the August financial report, Vice
President Heberle said:
Car Mileage Increases.
"A direct comparison of the opera
tions for August of the two years can
not be made, not only because of the
exclusion of the Washington Rapid
Transit Co. in 1885. but also because
of substantial adjustments included in
August, 1885. for retroactive wage in
creases covering the period from April
to August 8 and adjustments in bus
depreciation accruals covering the
period from January through July
Of 1885 These two adjustments also
affected tax accruals.
Total car and bus miles operated
in August, 1886, were 2.650.350, repre-
senting an increase of 160,92S, or 6.46
per cent over the miles operated by
both companies in August, 1885.
The average fare per revenue pas
senger was SOS cents in August. 1886.
as compared with an average of
cents for both companies a year ago.
The average fare per total passenger
was 444 cents as compared with 4.46
cents for both companies year ago"
Earnings for Eight Months.
Details from the financial statement
show that operating revenues in Au-
gust stood at s835 95067. an increase
of $63. 3.78345, or 8.3 per cent. At the
same time. because of adjustments
figured in the August report last year,
the operating expenses. taxes and de-
probation this year showed an i'm
provement of 13 per cent. and boosted
net operating income 104 per cent
Deductions of s54, 4,76820 were made
from gross. leaving decrease in
earnings of $43,24225
fnr ho he
of more value. Operating revenues
gained s656.787.68, or 10.6 per cent
At the same time operating expenses
advanced 1887, ,362.72. or 18 per cent
The higher operating expenses, taxes
and depreciation figures lowered net
operating income by Al per cent. After
all deductions from gross, net reve-
tnues were $38,207.31 in the red, against
q net increase year ago Of S347, ,656.02
Directors Vote Dividends.
Directors of the Carpet Corp have
declared quarterly dividend of so
cents per share, payable October IS
to shareholders of record October g.
The stock is listed on the Washing
ton Stock Exchange and is selling at
$25 share.
The American Security & Trust
Co. will pay quarterly dividend of
2 per cent on October 10 to stock
holders of record on September 30
The stock Is now being quoted ex-
dividend on the Washington Ex-
change.
The firm of K S. Wales & Co. of
this city is participating in the sale
of $4,000 shares of Commercial Bank
ing Corp, Philadelphia, $l20 cumula-
tive preferred stock, with warrants
which may be exercised in 1889, 1910
or 1s41.
While Baltimore reported drop of
z per cent in clearings during the
past week, Richmond clearings were
IL per cent above the mark reached
In the same week a year ago.
Sales and Collections.
Marked gains in total net sales and
higher rate of collections on ac-
counts receivable in August. 1886. as
compared with August a year ago
were reported by manufacturers in
the monthly joint study of the Ma
tional Association of Credit Men and
the Bureau of Foreign and Domestic
Commerce, Department Of Commerce.
Total net sales of 528 manufac-
turers throughout the country reg
istered an increase of over 18 per
cent in August, 1886, from August,
1885. Without adjustment for sea-
sonal influences August. 1896, sales
registered an increase of about l per
cent from July of this year.
Percentages of collections on ac-
counts receivable submitted by 511
manufacturers were higher for Au-
gust, 1885, than for both August
year ago and July of this year. Dur
ing August this year the manufac-
turers reporting collected 81 per cent
Of their accounts receivable outstand-
ing on the first of that month as COM
pared with 78 per cent collected dur
ing August last year and sos per
cent collected during July of this
year
Atlantic Shippers to Meet.
The forty-first regular meeting of
the Atlantic States Shippers Advis-
ory Board will be held in the Lord
Baltimore Hotel, Baltimore. October
g. Frank Rich, j. c. Penney Co.,
chairman of the board, will preside.
In addition to the usual analysis of
Commodity Committee reports and
the business forecast for the fourth
quarter, 1886, there will be discus
.sions on: Simplification in publication
of tariffs. legislative matters affect
ing the shippers and railroads, the
consolidated freight classification,
pickup and delivery service, modifi-
cation of demurrage rules, physical
condition and adequacy of railroad
freight equipment and power and loss
and damage prevention methods.
w. c. Kendall, chairman. car serv-
ice division, Association of American
Railroads, will report upon the gen.