Evening star., 1938-09-03
Transit Income Shown.

July - 12,21O,4Sh l1,T4 ,,blI
Transit Income Shown.
A consolidated income statement
sent to investors by the Capital Transit
Co. shows net income of S170,62493
for the fist six months of 1898, COM
pared with 32935.4l in the same
1887 period.
For the II months ended June 30,
the statement showed net income OF
Sl75,46253. compared with S116,454 56
for the previous - months. The COM
pany statement varies from the reports
made to the Public Utilities Commls
sion because it includes additional
properties such as Glen Echo Amuse-
ment Park.
For the first six months of this
year operating revenues totaled S5,-
734,838.7l, against s5620,60S9l in the
1887 period. Passenger revenue totaled
S5,502,94564, against S5,363 ,280.10:
other transportation revenue. S120.-
46s,42, against sl33,76264; station
and car privileges. sl5,76403, against
S23,6l6.46: amusement park, S9l ABS,
against S93 ,679.30: rent of property in
operations, s4.24247, against s6270,41.
Operating expenses totaled saba
25697, against s4.203.22l.88: mainte-
nance of way. structures. plan and
equipment, S712.11930, against S749,-
43657: cleaning and sanding track,
and snow removal, S23, ,6640l, against
s32,s1l64; power purchased. $685.
66214, against s26l ,877.3S; fuel. lu-
bricants and garage expenses, $685.
90506, against S278,486l0; con-
ducting transportation, S2.l55, ,202.79,
against s2,226.29797; traffic, SILL
1879, against $13.155.23; admin
istrative, general and miscellaneous,
1921, ,75072, against s299 1898 IL; amuse-
ment park, s62, ,408l4, against $50
41740; provision for injuries and
damage, s283,17lo2, against s277,-
34648
Taxes, including Federal income
taxes. totaled s492,17697. against
S412, 2,490.45; provision for depreciation,
$6l0.090.45, against s55l,2l205; net
operating revenue. after expenses
taxes and depreciation, s5oS,31432,
against s453684.53.
operating income totaled $19,-
5o505, against Sl8,026,39, leaving a
gross income of s527,Sl937, against
S47l.7l092 in the 1887 period. In
terest charges totaled S357,l9444,
against S338.77551, leaving net
income of s17O62493, against sl32,-
9354l.
Credit Unions Grow.
y,+l,
functioning Washington is now one Of
the leading credit union cities of the
United States, according to informa-
ton received from the Farm Credit
Administration, through which Federal
credit unions are chartered
Membership in District of Columbia
credit unions is now approximately
$4,000. Total assets are about $2,500,.
600 and total shareholders, made up
entirely of member savings are over
S2100,000. Both membership and as
sets, as we'll as loan transactions, are
increasing steadily. the F. c. A. reports.
Loans made by District credit unions
to their members last year totaled
s3,741,Ooo, of which sl,949,0 900 was
outstanding at the beginning of this
year. Payment of dividends on last
years operations was reported by
ree-fourths of the credit unions in
the District. Nearly all credit unions
two years old or more paid substantial
dividends, the usual rate being to 6
per cent.
Examiners Await Data.
No y,lr \, Ave
not been able as yet to use the new
regulations which Washington an.
nounced on June 26, because they have
not yet received the necessary official
instructions and data, says the Ameri-
can Banker.
Before the examiners can apply the
new regulations. which will permit
them to value bonds on the basis of
the average price for the last 18
months, they must have a list of
average prices of these bonds compiled
by the rating agencies and have in
structions from the controller of the
currency to use such list
Consequently. examinations on the
new basis will have to wait until this
official information is supplied to the
examiners.
Baltz Sails for Europe
Carrying with him the good wishes
and greetings of 5000 building and
loan associations from all over the
United States, Edward c. Baltz, ma
tional president sails this morning
from New York on the Champlain for
HaWe, to lead the American delega-
ton of loan executives to the interna-
tional congress in Zurich.
Baltz, Washington man, is one of
the youngest leaders the United States
league has ever selected and his work
as active head of loan groups with as
sets exceeding $4,000, 100000 has been
outstanding.
The loan congress in the Swiss
metropolis will attract delegates from
Al nations and opening sessions are
slated for September IL. Thirty-five
leaders OF building and loan work made
up the strong American delegation.