Evening star., 1938-04-29
CAPITAL TRANSIT
PROF|TS|NCREASE
March Net Hits $23,411,
Compared to $17,731 in
Same 1887 Month.
By EDWARD c. STONE.

1887, a gain of S5,679 80 or 80 per cent,
according to the monthly report filed
with the Public Utilities Commission
today.
Operating revenues totaled $685.
15444, gain of S57705; operating ex-
penses amounted to S702, 2,848.96, an in
crease of S29,54797; taxes required
$50. .29891, an advance of $l1,235 &c;
depreciation called for Sl01, 1858 or
S1O42421 more than last year, leaving
total operating income of $80,8l0.67,
which was an increase of S8,465.15 in
spite of the substantial increases in
the expense items.
Revenue passengers in March num-
bered l4.146,017, a decrease of 537 .29l
from March year ago.
Capital Transit also filed the first
quarter figures showing operating
revenues of s2.735, ,O9275, an improve
ment of S4326439, Operating ex-
penses. taxes and depreciation took
S2,54s.947. an increase Of S14,o57l0,
which left an income from operations
of Sl86,145.75, and a gain of S29,-
20729
After the usual deductions from
gross to meet interest payments, the
transit company reported net in
come for the quarter of S15.986, as
compared with a deficit of S2.5l389,
or an Improvement so far in 1888 of
slS,49989
e g., p March Net IOWer.
Net income of the Chesapeake &
Potomac Telephone Co. in March
totaled Sl52,775, or sl4.973 less than
in March, 1887, according to the
monthly statement filed with the
Public Utilities Commission.
Operating revenues for March
amounted to S954.070. compared with
S944.O59 in March, 1887. Operating
expenses were also higher, S688327,
comparing with s678.04l a year ago.
Taxes we're higher, leaving a net
operating income of Sl76.878, against
Sl83.734 last year
Total income was within about
$4,000 of the figure for March, 1887,
but interest deductions required S30.-
S85 in comparison with Sl8,l75 in
March of last year.
The earnings statement for the
first quarter was also filed with the
commission. showing operating rev.
enues of S2,802.l50, against $780,
805 in the first three months of 1887.
Operating expenses were higher this
year, S2,O22 400 vs. Sl947.934
Taxes were also somewhat higher,
leaving a net operating income of
S5l9290, against S560.665. Non
operating income was better than
year ago. Tax deductions required
S94 43O, compared With $50, TAG IN
the first 1887 quarter, leaving a net
income of s438O7l, against S512 ,080.
a drop of s74009, the report reveals.
Insurance Staff to Expand.
1t was announced in the financial
district today that Arthur w. Defen-
derfer, general agent of the John
Hancock Mutual Life Insurance Co.,
has been instructed to build up
sales organization for his company
in the Capital Heretofore he has
been engaged solely in personal pro-
duction.
The company has taken new and
larger Offices in the Edmunds Build
ing, as officials believe that business
conditions in Washington are favor
able to steady expansion in the life
insurance field
Mr. Defenderfer has lived in Wash
ington since 1918 and has been
actively engaged in civic affairs al
most continuously during this time.
At present he is a resident of Chevy
Chase, Md; general secretary
tional treasurer of Delta Sigma Phi
Fraternity; director of the Washing
ton Y. NJ c. A; trustee of South
eastern University, and past presi-
dent of the District of Columbia
Life Underwriters Association.
Fitzpatrick Heads Slate.
Joseph R. Fitzpatrick, an assistant
cashier of the Second National Bank,
was nominated for the presidency of
Chapter, American In
stitute of Banking, last night, and
Francis E. Robey, Bank of Commerce
& Savings. named for first vice presi-
dent, the Nominating Committee an
nounced today. At the same meeting
the following institute members were
placed in nomination for the other
Offices:
Second vice president, Edward NJ |
Blaiklock, Washington Loan & Trust |
Co.; treasurer, John M. Christie, Riggs |
National Bank; chief counsel, Ray |
mond L. Jones, National Metropolitan
Bank; George M. Rowzee, jr, Lincoln |
National Bank, and John S. Warner,
Union Trust Co.; secretary, Frances
z. Nagel, Riggs National Bank; assist
ant secretary, Leona M. Drager, Wash
ington Loan & Trust Co., and Naomi
De Lozier, Second National Bank.
Board of GovernorS-James A. Ahalt, |
City Bank; Kenneth M. Birgfeld,
American Security & Trust Co.; G..
Elmer Flather, Union Trust Co.; Mar
garet P. Hayden. Columbia National;
Myrtle P. Lewis, Liberty National
William Mcclure. McLachlen Banking
Corp; Walton L. Sanderson, Ham
ilton National; G. Crawford Turnbull.
Morris Plan Bank, and Neil Wells,
National Savings & Trust Co.
Frederick Richardson Honored.
Frederick Richardson. for many
years president of the Potomac In
surance Co., of Washington, was given
a complimentary luncheon by the Of
fcers of the company at the Willard
Hotel this noon in connection with
his intention to retire from active
duty. Resolutions lauding his bril-
liant and long service with the COM
pany were adopted and presented to
him.
George w. White, chairman of the
board and president of the National
Metropolitan Bank, presided. In ad-
dition to Mr.. Richardson, the other
officers include Thomas c. Moore,
vice president and manager; A. A.
Hoehling, second vice president, and
Alexander K. Phillips, secretary.
Among directors at the luncheon
were Charles E. Hood, O. H. P. John
son, James F. Mitchell and c. F. r.
Ogilby, as well as the officers who
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