Evening star., 1938-03-25
CAPITAL TRANSIT
REDUCES DEFICIT
1881 Loss in February
Compares With S24,318
for 1887 Month.
Nv EDWARD &. STONE.


deficit of 1851 95 as a result of the
months operations. The report. how
ever, was encouraging as it compared
with a deficit year ago of S24,318 95,
making an improvement in the month
under review of Sl6.727. or $50 per
cent
Operating revenues totaled S848.-
7l2.57. an increase of Sl6,946 81
Operating expenses called for $780,
1861, which was a reduction Of
S27l38.28. Taxes required S68.887 "a,
an increase of Sl3.53477. or "a per
cent. Depreciation totaled Sl0l. 1918
which was Sl0,4326 68 higher than last
year or lis per cent
After deduction of all operating
expenses. operating income totaled
S4786053. gain of $20,1l720. Gross
income in February amounted to
S50.7l9.73. At the same time deduc-
tions from gross to meet interest on
bonds called for S573ll68. causing
the deficit. Revenue passengers num-
bered l2,307.4 .447, decrease of 449.2 .20S.
The Capital Transit Co. also made
a report for the first two months Of
1888 as compared with 1887. Net in
come for January and February was
in the red S7.42523 in comparison
with loss of s2024522. an improve
rent so far this year of sl28l999, or
SO per cent. the report said
400 Shippers to Confer.
More than 400 delegates. lncluding
many from Washington. are planning
to attend the 46th regular meet
Ing Of the Atlantic States Shippers
Advisory Board al Reading, Pa. April
6 and 7, it was reported here today
Shippers in Baltimore and other points
in Maryland and in Virginia will
attend the sessions April will be
observed as perfect shipping month"
and the first days program will be
devoted to this drive in which freight
consignees. railroads and express COM
panies are particularly interested In
1887 alone claims for loss and damage
to freight amounted to S24,38l ,8l9.
meeting is scheduled to provide
opportunity for shipping clerks. re-
ceiving clerks, freight handlers and
other personnel of carriers. shippers
and receivers of freight to consider the
details of overcoming improper pack
Ing and slowing methods. improperly
prepared shipping tickets and bills Of
lading. rough handling of freight by
railroad crews, station forces, pickup
and delivery truCkmen and shippers
and receivers in their packing and un-
packing warehouses.
April will be devoted to a discus
sion of the trend of business as re-
f1ected in carloadings estimated for
the second quarter. 1898. status Of
legislative matters affecting shippers
and railroads alike. the sufficiency of
railroad service and car supply. prog
ress being made by the carriers in car
and motive power construction as
applied to shippers needs, demurrage
tariff matters and other subjects of
mutual interest to the shipping and
receiving public and the railroads.
A luncheon meeting will be held at
which the general railroad situation
will be reviewed by NJ J. Gormley of
Washington, executive assistant to the
president, Association of American
Railroads.
Theater Securities Offered
A prospectus is being distributed in
the financial district giving informa-
ton about the Olney Theater Corp, a
Maryland concern which proposes to
build summer theater mile north
of Olney. Md. on the Olney- Ashton
pike and 20 miles from downtown
Washington
The officers of the corporation are
Harold C. Smith. Judge of the Rock
vile Police Court. president: Leonard
B. Mclaughlin. for years director of
the Maryland and Auditorium Thea
ters. Baltimore. vice president. and
s. E. Cochran. for IL years manager
of the National Theater. Washington.
secretary and treasurer.
The company proposes to build and
operate summer theater, miniature
playground for children as a feature to
draw matinee audiences and also to
conduct restaurant Parking space
will accommodate 500 cars.
1t is proposed to sell unitS of one
share of per cent preferred stock.
par value S2. and one share of COM
mon. par value. 81. for $40 per unit.
There will be 5000 shares of preferred
and 10000 of common. The prospec-
tus states that 5000 shares on the
common will be sold in units, with the
preferred and 5000 issued to Mr..
Cochran in return for promotional and
managerial services. His stock. how
ever, cannot be sold or transferred
until the preferred stock has been fully
redeemed, the announcement says.
The Hamilton National Bank.
Washington, is to act as transfer
agent.
Columbia Votes Dividend.
Directors of the Columbia National
Bank. meeting yesterday. declared a
dividend Of SO per share, President
Frank J. Stryker announced today.
The dividend is payable as follows:
$3.50 per share on April to snare
holders Of record on March Is and
$3.50 per share on July l to stock
holders of record June "a.
AVN W. NS'ltlS, Ofle Ol the vice
presidents of the Riggs National Bank:
Sidney F. Taliaferro trust officer at
the same bank, and Joshua Evans. jr.,
vice president of the Hamilton Ma
tional, will attend the annual conven-
ton Of the Association of Reserve City
Bankers at Belleair. Fla. The conven-
tion will be in session Monday. Tuesday
and Wednesday of next week The
Washington bankers will make the trip
on a special train which comes through
from New York this evening.
The Pennsylvania Railroad today re-
ported new railway operating income
In February of $l.597. .564. as COM
pared with sS.335.883 in February
last year.
Busy Trading on Exchange.
On the Washington Stock Exchange
today Is shares of Peoples Drug
Stores common sold at 23 and 1ol