Evening star., 1939-04-28
Capital Transit Net
More Than Double
Year Ago Levels
$5l,l26 March Total
Compares With Only
$23.4l1 in 1888
By EDWARD C. STONE.

ago, an increase OF SGI,1l0.06, or
1884 per cent, according to the
monthly statement filed with the
Public Utilities Commission today.
Operating revenues amounted to
$1026, 1921. an increase of SOL
82777; operating expenses called for
$685., ,46334, an increase of S7,385.64;
taxes required S08 8,5658 81, up So ,266.96
and depreciation totaled S133,773.97,
an increase over last year of $32,-
$1,000.
This left an income from opera
tions of Sl09.17903, a gain of S28,-
1886 over March. 1888. Gross in
come amounted to $110,50321, an
increase Of 26536.35.
For the first quarter of this year
the company reported net income
of s8O,972lO. as compared with only
Sl59S6 in the first three months of
1898, an increase of $64,966.10, or
406 per cent.
PepcO Net Down Slightly.
The Potomac Electric Power Co.
reported to the Utilities Commission
today a net income in March of
1884 .66751, off S6,49544 from March
a year ago.
Operating revenues in March to-
tailed 20690309. an increase of
S5O,59841. Operating revenue de-
ductions took S641 ,302 35, an increase
in expenses of $38272.5l.
Taxes for March required Sl63,-
1888, small reduction of S2,636,l4
from last year. Net income from the
months operations amounted to
S4456 60074, a gain of Sl2 1850 from
last year.
The Potomac Power Co. reported a
net income in the first quarter OF
this year amounting to ST lao, ,469 35,
against S1a797496l last year, a
decrease of S39 ,20026
Telephone Net Increases.
Net income of the Chesapeake &
Potomac Telephone Co. in March
totaled S167,67l, substantial in
crease over the S152,775 net reported
to the Public Utilities Commission
in March a year ago.
Operating revenue stood at ST 024.-
712 against s549070: operating ex-
penses required S723.180 compared
with S668 ,327; and net operating in
come stood at S20581 against sl78.-
67S last year. Interest deductions
totaled $50 500, compared with S30,-
885 year ago.
For the first quarter the telephone
company reported a net income of
$469 9672 in comparison with S436.-
OIL. a substantial gain over the like
period in 1898.
There were 243,8o1 telephones in
service in Washington at the end
Of March. 1899, which was an in
crease of 1854 over the previous
month.
Telephone users in Washington
made. 29,719OOO calls during the
month, or 2,691 900 more than in
March, 1898.
Echoes of Council Meeting.
The bankers at the A. B. A. EXecu-
tive Council meeting at Hot Springs
were told that low interest rates are
the greatest problem now facing the
banking world. Interest rates will
advance at some time in the future
when we have a self sustaining
business recovery.
Sometime within a foreseeable
future interest rates are going to
rise again to something like their
old normal levels. When that hap
pens the fiscal difficulties OF the
O. S. Treasury become more serious,
and for time the problem of the
banks will be intensified also, for
bond prices will decline.
Direct Government intervention
and competition in the business of
banking may not continue to in
crease in this country in the years
that lie directly ahead. 1t is quite
possible that they may decrease.
conditions affecting American
banking are quite prevalent in most
of the countries of the world. Custo-
mers of banks throughout the world
are asking for fewer and smaller
loans and are unwilling to pay as
much for the accommodation when
they.get it.
THE country does not need addi-
tional banking agencies. Banks are
now seeking new loans more per-
sistently than ever before in our
banking history. They are modify
ing lending methods and policies in
order to attract new loans.
"Readjustments required by a re-
turn to normal rates of interest
would solve most present-day bank
ing problems"
Carpets Earnings Higher.
The annual report of the Carpet
Corp, food distributing concern.
shows net earnings in 1888 amounted
$100683, equal to s4.72 per share
According to President Harry L.
Carpet. this compared with profits
of about $4,000 in 1887, or 1888 a
share. The gain in earnings over
1897 was 33 per cent.
Gross sales disclosed gain over
1887 of 88 per cent, the report states.
The company paid $4,000 in divi-
dends, or 50 share The stock is
listed on the Washington Stock Ex-
change, now being quoted at 80 bid
and 33 asked. Members of the ex-
change report very little stock to be
had. The company has surplus of
s26s ,697.
Club Holds FIRST Meeting.
The club recently organized by the
personnel of the Washington Loan
& Trust Co. was entertained last
night in the lobby of the main Office
by presentation of the moving
picture, You Can't Get Away With
It." feature of the Federal Bureau
of Investigation.
Master of ceremonies was Quinn
Tamm, chief of the Bureau of Iden-
tiflcation, who interested the audi
ence with a description of the
methods used. He was introduced
by Herbert D. Lawson, jr., president
of the club, following the first reg
ular meeting OF the personnel held
in the boardroom. The large at
tendance included families and
friends of the club members.
Heard in Financial District.