Evening star., 1936-06-27
CAPITAL TRANSIT
INCOME DECLINES
Only $40,220 May Net
Against $1OO,463 Pre-
viouSIy Reported.

Net income of the Capital Transit
Co. in May totaled s40,22o.67 in COM
parison with $10O, ,463.37 in May, 1885,
decrease OF $50 PATIO or go per cent,
according to the financial statement
just fled with the Public Utilities
Commission.
Operating revenues in May amount
ed to $3.50, $3.50, a jump of $73, ,269 98
or 81 per cent over May a year ago.
At the same time operating expenses
advanced to $652,613.57, an increase
of $95,133.S4 or Ill per cent.
Taxes called for $56,141.74, a drop
of $869.63; depreciation took $e3,-
577.95, an increase of $32,518.9l or SO
per cent, and boosting the total cost
of operating expenses, including taxes
and depreciation, s126.7S3.13 higher
than a year ago. The increase in ex-
penses left an operating income of
$88, ,504.O4 against $142,01719 or a
decrease over May, 1885, of $53,51315
or 81 per cent.
incorporating Income.
Incorporating income in May was
$7,676.59 lower than last year. Gross
was more than $61 900, or 80 per cent
lower than last year in the same
month. Once again net income de-
creased In the face of notable IN
creases in the number of revenue pas
sengers carried, which totaled 1882
500 as compared with 13,070,850 in
May, 1885, gain In the month under
review Of 1.77I, ASS, or 1876 per cent.
Detailed study Of the May report
shows that while passenger revenues
increased more than $4,000, wages
paid employees increased over SIT 900
during the same period. Gasoline
and motor oils increased $12,439 In
May as compared with last year and
miles operated by buses increased
395, ,032 over year ago. Increase in
bus maintenance materials and other
material expense items were partially
Offset by decreases in rail cost items,
the net change being an increase in
these items of $5,44S.
With the report filed with the COM
mission, Vice President and Controller
j. E. Heberle sent a letter stating that
there were several records established
in the consolidated operations Of the
Washington Rapid Transit Co. and
the Capital Transit Co. during May
which he considered worthy Of special
notice, as follows:
SCI Cents Average Fare.
"The average fare in the District
Of Columbia per revenue passenger
was 5.91 cents, and per total pas
senger 4.37 cents. This establishes a
new low for recent years. The total
number Of passengers carried in the
District Of Columbia by these COM
panies was 1e,s1o,Oos, which repre-
sents new high point; as also does
the number Of car and bus miles
operated 2,4l0,57O, excluding char
tered.
For the week ending June IS, 1896,
during which the merger Of the Wash
ington Rapid Transit Co. with the
Capital Transit Co. was accomplished,
1913 Of the $l.25 passes were pur-
chased, this representing an an-tlme
high for the $125 pass"
The Capital Transit's application
for higher street car and bus fares
makes the report for the first five
months of 1885 also of special inter
est. Operating revenues showed a
gain Of $415, 5,603.40 over May, 1885,
an increase Of 10 per cent. At the
same time operating expenses in
creased by $624,133S8 or % per cent.
Depreciation deductions were $685.
1886 higher than the figure year
ago, or 81 per cent.
These three items combined--op-
Grating expenses. tax and deprecia-
tion-showed an increase Of over
SITS, 900, or "a per cent. The ad-
vsnceS In costs and the usual de-
ductions for bond interest from gross
earnings produced deficit OF $10,-
594.55 in net income against gain
in the first five months Of 1885 of
$685., ,674.43.
Revenue passengers carried In the
five months this year numbered g.
787,455, an increase Of 1880 ,904, or
1873 per cent, the report states.
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