Evening star., 1937-08-13
TRANSIT EARNINGS
EXPECTED TO GAIN
Officials Believe New Cars
on Fourteenth Street Will
Improve Net.
BY EDWARD c. STONE.

Earnings of the Capital Transit Co.
are expected to show an increase when
the new stream-line street cars are
put into service on the Fourteenth
street line in the near future. The
tirst of these new cars are due from
St. Louis in few days, according to
Capital Transit officials, and will be
placed in operation as soon as they
nave been through the shops for the
lsual tests which all street cars get
When they are received
Capital Transit officials base their
expectations of increased earnings
artly on results attained by the 20
.ream-line cars which have been op-
rating for many months on the
'riendship line and partly on reports
ON other cities where similar cars
ave been put in use.
John H, Hanna, chairman of the
"apital Transit Board of Directors,
lid today that the first of the new
ars have already been shipped and
III be on exhibition here in about
vo weeks. They will be arriving now
stated intervals
1T is difficult to give definite fig
res on the percentage increase in
'afflc on the Wisconsin avenue line
Friendship" Mr.. Hanna said, but
know it has been substantial We
re expecting similar increase in
arnings on other lines when the
ew cars are put into operation. There
) every reason to expect it."
Traffic Gains Elsewhere.
A publication covering the activi-
es of transit companies all over the
ountry reports that the new cars
ave increased traffic. Baltimore or
cred q year ago and put them into
ervice. Pittsburgh. Los Angeles, Chi
ago and Brooklyn bought large con-
ignments.
The 20 ordered and delivered last
ear to the Capital Transit Co. we're
mong the very first to be built and
elivered to any city. San Diego put
hem into service last April and re-
,orted 300 per cent increase in traf-
&c. Much of this gain was ascribed
0 novelty riding" yet substantial
Increase in traffic is expected to be
permanent.
Business on the Friendship line in
his city has scored marked increase
yer since the new cars were switched
. that route from Rosslyn officials
eel sure the same will be true of
he Fourteenth street line The new
less of the cars, faster and better
ervice, should draw more tokens into
he fare boxes and mean the pur-
'haSe Of more passes each week. While
increasing revenues, the new cars will
also reduce the companys operating
costs. Reports from other cities indi-
cate that the new cars have brought
about an increase in traffic in between
rush hours" An increasing number
Of shoppers have used them.
Bonds Yield 7 Per Cent.
September will see the new stream
liners in use in increasing numbers
on the Fourteenth street line Each
new car will replace an old one, more
costly to operate, until the whole As
are In use.
Transit's operating and net earn
Ings will be followed with great in
crest by the stockholders during the
next few months Net earnings in
he first six months of 1887 were
much better than in the first half of
1886. If the up trend continues the
dividend outlook will also improve.
Payment for the new cars, however,
IS likely to prevent any early dividend
disbursements in all probability. 1t
will be recalled that the company
made an equipment loan from Wash
ngton banks. Provision also has to
,e made for bond interest as it falls |
iue
The company's bonds are now SELL
ng around s6 to yield 7 per cent. |
Any definite turn for the better in net |
ncome would naturally start both |
,ond and stock quotations upward. |
The stock is now selling around 10
Hickey on Bankers Program.
Branch Hickey. vice president and |
general manager of the ST. Louis Ma |
ional League team, lawyer, lecturer |
Ind philanthropist. will be the guest |
speaker at the annual radio COM |
nencement exercises of the American |
Institute of Banking over a national |
-adlo hook-up on Friday evening, !
September 10. Miss Catherine M. |
Arieg, Riggs Bank and member of |
he Radio Commencement Committee, |
announced today. He is known as a
very inspiring speaker and has chosen |
As his subject, The Score Board"
The speaker will be introduced |
rom St. Louis by DR.. Harold Stonier, |
he Institutes educational director. |
In the past these addresses have been !
led in with the local chapter COM |
nencements and have proved of wide
interest to both junior and senior
bankers. Newton D. Baker, j. F. T.
O'Connor and Joseph A. Broderick |
are among previous speakers
Bankers Enjoying Vacations.
George O.. Vass, vice president and
cashler OF bhe Riggs National Bank |
will start three weeks vacation on
Monday. He will spend a good deal
If time at home and on nearby golf
links.
Remick S. Ferguson, manager of
The foreign department of the Wash
ington Loan & Trust Co.. has lust
returned from vacation at Ocean
City, Md.
William B. Willard, vice president
Of the National Savings e. Trust Co..
Is back at his desk from a vacation
IN New Hampshire. He entertained
male members of the banks staff at
the Burning Tree Club Wednesday
evening.
Earle NJ. Amick, one of the vice
presidents of the Riggs National Bank,
is on a fishing trip to Georgian Bay
In Canada.
Ezra Gould, connected with the
Office of Hartman e.
keech, New York Stock Exchange
firm, is on his vacation, at present