Evening star., 1936-12-28
CAPITAL TRANSIT
NET INCOME SAGS
11-Month Total of $2,162
Compares With $685. 1855
in 1885 Period.
BY EDWARD C. STONE.

1890, decrease OF Sooo,oSL.cS, UT SS.f
per cent, according to the November
financial statement filed with the
Public Utilities Commission this noon.
While operating revenues in the II
months revealed a gain Of more than
1881 900, or IL per cent, operating
expenses mounted still faster, with an
increase of s988, ,864.39. or is per cent,
the figures revealed Taxes were 10
per cent higher than last year and
depreciation up 80 per cent. the latter
showing an increase of $226. .924.36.
Revenue passenger traffic during
the II months disclosed very sub
stantial increase The number of rev.
enue passengers carried by the transit
company totaled 1928 1893, against
138,689,503 in the comparable period
in 1885. gain this year of 1854, 800,
or 11.9 per cent.
Net income in November totaled
$5,249.33. against s11,2so.10 in No
vember. 1885, a decrease of $6,041.77.
or 53.5 per cent, todays report
showed
Retail Trade Still Below 1929.
Climaxed by Christmas selling closely
approaching the 1929 volume retail
sales during the year 1886 will total
between S37 500 900 900 and S38,000,-
100000. an increase of about IA per
cent over 1885. but still "a per cent
under the 1929 total, according to pre-
iiminary estimates announced by the
American Retail Federation, in the
National Press Building.
Statistics gathered by Federal Re-
serve Banks, Department of Com
merce and other recognized agencies
registered material increases each
month in 1886 over 1885. and the
Thanksgiving Christmas sales. which
taxed the selling capacities of many
stores, lifted the closing months to
high levels and boosted the years
total. Sales during November and
December are expected to reach
$4,000 900 900. Sales in those two
months in 1929 totaled about So, ,700.-
100000.
Estimates based on statistics for the
first IL months of 1885, supplemented
by regional reports on December busi-
food store sales in 1885 was within 20
per cent of the 1929 total; general
merchandise group within 81 per
cent; apparel, 80 per cent; automo-
tive, including filling stations, 20 per
cent; furniture household, As per cent;
lumber building hardware, 40 per cent; F.;
drug stores, % per cent. and jewelry
stores within As per cent of the 1929
sales volume.
Department store sales in 1886 were
within II per cent of the 1929 total.
variety stores within 7 per cent and
catalogue sales of mail-order estab-
lishments within 9 per cent. On
tonnage or quantity basis. merchan-
disc sold in 1886 will approach the
1929 total on account of lower price
levels.
The trend Of most retail buying in
dexes during the last three months
of 1896 has more sharply advanced
than In the preceding months. the
Federation statement said, indicating
continued gains in the early months
of 1887.
BANKERS COuncu 70 Mccts
The December meeting of the Coun-
ell of Administration of the District
Bankers Association is called for to-
morrow afternoon at headquarters in
the Bond Building. Among special
matters to be considered will be final
plans for the January open meeting
of the entire association.
Latest reports from Karl w. Corby,
president of the association, who is
confined to his home with illness. are
,hiehly favorable. He is improving
ysteadily. First Vice President Thomas
y. Groom is looking after association
affairs and keeping in close touch with
Mr.. Corby in order to carry out all his
plans for the years activities.
The bankers hold their weekly
luncheon tomorrow instead OF Friday
which happens to be New Year day.
aThe Friday luncheon on Christmas day
was omitted, with the idea that the
two holiday luncheons would be COM
bined in one this week.
Directors of Woodward g. Lothrop
have declared the regular quarterly
dividend of $l75 per share on the
preferred stock and the regular 371s-
cent dividend on the common stock;
also an extra disbursement OF 62l2
cents a share on the common. All
three dividends are payable December
% to stockholders of record Decem-
ber %.
Notable Recovery Reported.
Secretary Roper of the Commerce
Department reports to Congress
through President Roosevelt that eco
homie recovery broadened very rap
Idly and substantially during the year
ended June 80. He will issue another
review covering the last six months in
b few days.
In the current report Secretary
Roper pointed specifically to a 20 per
cent increase in manufacturing dur
ing the fiscal year; a 10 per cent in
crease in freight traffic and IS per
cent increase in construction contracts
awarded. Other increases were: In
dustrial production, II per cent; cash
income from farm marketings, IL per
cent; electric power production, l3
pcI CSlt, uCpdl tAllCAG cVOAV ooAOo'
Der cent; factory employment. per
cent; factory pay rolls. Is per cent,
and wholesale prices, 2.5 per cent.
Heard in Financial District.
Following the three-day holiday.
brokerage houses here were crowded
before today's opening of the New
York Stock Exchange. Traders wit
messed very active start, with prices
generally higher than on last Thurs
day.
A new type of bond issue for in
stitutional investors is described in
brochure just issued by the Washing
ton Office of Hartman g. Keech,
members of the New York Stock Ex-
change The securities are known as
large-scale housing bonds, which are
insured as to principal and interest
nt 8 per cent by the Federal Housing
Administration.