Evening star., 1937-12-28
NEW RATES LIFT
TRANSIT REVENUES
Receipts Gain More Than
$1,000 a Day-Number of
Passengers Down.
By EDWARD C. STONE.

increased considerably more than
$1,000 a day under the six tokens for
so cents rate.
At the same time the total number
of revenue passengers carried during
the month of November recorded de-
crease, according to the statement filed
late yesterday with the Public Utilities
Commission.
Operating revenues for November to-
tailed $9l8,60l .88, an increase Of $39,-
243.93, or as per cent over operating
results in November, 1886. These fig
ures reveal the increase in operating
and higher than the increase predicted
at the time of the hearings on the rate
application.
1t will be recalled that the transit
company officials said that if an in
crease in fares to 81 cents was al
lowed, the added revenue should be
around ST 900 day While the high
er rate was not granted, operating in
come so far has exceeded that estimate
Operating Expenses Increase.
The report states that operating eX-
penses in November amounted to
$683, 1872 81, or $2,26642 more than last
year. Taxes totaled $69,87l 81. an in
crease of $l3,753.90, and jump of
24.5 per cent. Depreciation reserves
totaled $99, 1921, an increase of $l3,-
5S5.41 over last year, or 1877 per cent.
Deduction of these three expense
items left an operating income for No
vember of $6o sos 80. a gain over No.
vember, 1886, of S96382O, or 172 per
cent. After taking out operating ex-
penses. taxes and depreciation, the
transit company had a gross income of
S69,67066. Deductions for bond in
terest required S58l93.07. which left
total net income of $ll,477.59. against
only S5,248.33, an increase of S6,229.26,
or lib per cent.
numbered 13,26l,965 in comparison
with l4,16o,34O in November a year
ago, a decrease of 898,375 or 63 per
cent, the statement discloses.
Only casual glance at the re-
port shows that without the higher
Ao4So tAAN NOlI1kJdllS "oulQ 1ldSC 6OA1C
into red ink figures for the month.
Notable Gain in IL Months.
The Capital Transit's report for The
first, II months of this year, also filed
with the commission, reveals a notable
gain in net profits, in fact a percent
age gain too high to be mentioned.
Net income for the II months
totaled S98,592 as compared with
$2,l62.85 in the like 1886 period, the
improvement amounting to SOC. .429.l5.
Operating revenues totaled $685.
240.52, up s48l ,468.70 or 81 per cent.
Operating expenses called for $780,
674.66, higher than last year by over
$4,000. Taxes required s739,23635,
up s146,s4264 or 24S per cent.
Depreciation totaied $1,O44,O4l.18.
an increase of $ll8,43737 or 1913 per
cent. After deducting all the run
ming expenses, operating income stood
at $685., ,288.33 for the II months, a
gain of sl40,835.O8 and an improve
ment Of 25.4 per cent
Revenue passengers for the IL
months totaled 2O0,227,033 against
208.081, ,636 in the like period last
year, a decrease of 7,854,603 or Al
per cent.
Interest in Thrift Growing.
George Naramore, manager of the
Washington Office of the Fidelity In
vestment Association, declared today
that interest in thrift by the average
citizen has grown with amazing speed
during the past year. He gives the
Government social security program
as one Of the major reasons for this
sounder future planning. This Gov
ernment program, he says, has called
attention to future planning in man.
ner that has really calused a wave
of national thrift. Fears of its re-
action on individual savings have
proved groundless, he added.
His company's November business
was 66 per cent ahead of last year,
while August, September and october
also broke all-time records. So conf
dent is the company in the future
of business that a larger new home
Office building is now under con-
OIl uCClOll dI "uCCA4A4S, w. va.
Building Up Over 10 Per Cent.
The Secretary of Labor reports that
during the II months of 1887 the ag-
gregate value of all classes of build
ing construction for which permits
were issued in 1902 cities was ST.
SOC, $4,000, an increase of lo.1 per
cent over the like period year ago.
The number of new family dwelling
units provided in the II months was
162, 768, a gain of per cent over the
same period last year.
On the day before Christmas the
National Bank of Washington pre-.
sented a Christmas bonus to the
banks employees. The directors made
1t one-fourth of months salary,
Jerome Frank was sworn in yester-
day as new member of the Securities
and Exchange Commission. He saws
he is an enthusiastic New Dealer, but
emphatically not a radical. John w.
Hanes will be sworn in after January l.
The st. Joseph Railway Light g.
Power Co. has filed an amendment
with the Securities and Exchange
Commission stating that the Offering
price on the $5,625 900 AZ per cent
first mortgage bonds will be 9s1a.
Calnan Cheerful on Outlook.
M. H. Calnan. president of the Lib
erty National Bank, is optimistic on
the outlook for banking during 1898.
After the first quarter, he says, condi-
tions should be favorable for an ex-
cellent business. The last of the pres
ent year brought an increase in the
demand for loans in his own bank,
which enjoyed a highly satisfactory IL
months. Liberty paid the regular S
per cent dividend, made a substantial
addition to surplus, distributed g
Christmas bonus and will close 1897 in
Q fine position.
Robert Y. Tabler, general man.
ager; F. Harold Deland, Washington
manager: George p. Noble. sales man
ager, and the sales force Of Inter-
communications, Inc, are in Philadel-
phia this week attending a general
sales conference of representatives for