Evening star., 1938-01-25
TRANSIT EARNINGS
REPORT AWAITED
Net for Entire Year Likely to
Show Large Gain Over
1896 Levels.
BY EDWARD C. STONE.

ny LDVA AND u. S1ONE.
Stockholders in the Capital Transit
Co. are eagerly awaiting the Decem-
Der earnings report now due and are
expecting substantial improvement in
the 1887 net over the 1886 returns
According to gossip in the financial
district, the company is likely to re-
port net earnings of at least $1290O0,
or so cents share, against III cents a
share year ago.
This estimate is based on results
since the higher car and bus fares
went into effect At the end of No.
vember, 1886. the transit company had
net earnings of only $4,000 At the
end of November, 1897, the company
reported net earnings of more than
$4,000.
After the higher fares went into
effect in November, the company re-
ported an increase in revenues of
more than ST 1000 day. December is
the best traffic month in the year. If
the $1,000 a day increase was MAIN
tained in December, the company
should report net earnings for the full
year of at least $4,000, as the De-
cember weather was unusually favor
able to street car traffic.
While the notable increase in earn
ings, whatever the exact figure may
be, does not mean an early dividend
for stockholders. the outlook is con-
sidered brighter than before the new
rate schedule of six token for so cents
was granted by the Public Utilities
Commission.
If the gain of better than $1,000
In daily revenues is maintained
throughout the present year. that alone
would mean around 100000 added
to gross income. after counting out
Sundays, and allowing for some bad
weather. That would be very
different story from the results in the
first 10 months of 1887 under the
former prevailing rates.
ID. c. Banks in First 300."
Five Washington banks are included
IN the list Of the first 800 largest COM
merclal banks in the United States
published today by the American
Banker. The banks are:
Riggs National, No. SO in the list
with Se5,059922 in deposits on De-
cember 81.
American Security g. Trust, No. l22,
with s50.377,12l.
National Metropolitan, No 200, with
S27,597,353 in deposits.
Washington Loan &, Trust, No. 1885,
with S23,274180 on deposit.
Hamilton National No. 237 with
$23.2696O on deposit.
Chase National Bank of New York,
with total deposits of s2,O69, 989, 500,
again heads the roll call as the larg-
est bank in the land, with the National
City Bank, with deposits OF SILL
552,l00, ranking second, and Guaranty
Trust Co. of New York, deposits ST.
49.807 500, third.
Booker New Committee Head.
Y. E. Booker, head of the invest
ment firm bearing his name. has been
appointed by President Francis E.
rockingham of the Investment Bank
ers' Association. chairman of COM
mlttee to confer with the Securities
and Exchange Commission in an
effort to do away with misleading
titles of new security issues. The
investment bankers have been work.
Ing on this problem for years. Often
a new issue is brought out called first
and refunding bonds when the word
first" means nothing whatever.
In the future nomenclature is to
be given more and more attention.
The committee and the commission
will endeavor to have the name of a
new issue indicate exactly what the
issue is and what is behind it. The
other members of the committee are
E. H. Worthington, Baltimore; D. C.
Josephs, Philadelphia; R. c. Hogan,
New York. and H. T. Gleason. Boston.
1t was considered particularly advan-
tageous to have a Washington man
chairman
B. g. o, Earnings Lower.
Net railway operating income of
the Baltimore g. Ohio Railroad in
1887 totaled s24,9Os625, against $780,
185, ,305 in 1886, a decrease of $685.
$50. 1t was reported this noon Freight
revenues totaled Sl47,2l2,330, a de-
crease of only S604,588 while pas
. senger revenues amounted to $11.918,-
COL, an increase of S735.659. There
was a gain of $147064 in passenger
revenues but a drop of Sl65. 900 in
express income. Railway operating
expenses were s5,259,183 more than
In 1896.
Net railway operating income in
December tctaled only s701,e76, a
decrease of sl.8l1,376 from December,
1896. Operating expenses were kept
under the previous year but there was
a slump of S2,866,056 in freight reve-
nues for the month. Passenger in
come was hieher.
Forster Addresses Optimists.
Investing Money" was the subject
OF an address made today before the
Optimist Club of Washington by w. R.
Forster, vice president of the Hamilton
National Bank. Mr.. Forster, member
of the speakers unit of the Columbia
Bankers Association, stressed the i'm
portance of the individual having full
Investments; that there should be no
such thing as making an investment
and putting it away in safe deposit
box and letting it be forgotten.
In discussing bank investments, he
reviewed the changes which have taken
place in the bank portfolios the past
few years, explaining some of the fac
tors the bank must take into con-
eideration when making loans or buy
Ing securities. He reminded his audi
ence that the funds which the bank
has are those OF its depositors and that
the banker must always keep this in
mind.
The speakers unit OF the District of
Columbia Bankers Associati ton was
inaugurated this year and was planned
for the purpose of explaining to the
citizens Of Washington some of the
phases of banking and the laws and
regulations under which banks operate