Evening star. [volume] (Washington, D.C.) 1854-1972, 1940-12-22
Transit Income
Rises Sharply
Above 1889
EIeven-Month Net
50 Per Cent Ahead
Of Year Ago
By EDWARD c. STONE.

BY EDWARD L. STONE.
Net income of the Capital Transit
Co. in the first II months of this
year amounted to $8l8 500 IA, against
1881 1853, sharp increase of $780,
98276, or 54 per cent, according to
the report just filed with the Public
Utilities Commission.
The same report states that rev.
enue passengers in the II months
numbered 169,088,9 1868 against 1885,
685, 1872 in the like 1899 period, a
notable gain of u 403, 131. The sharp
traffic increase reflects the Capitals
growth this year and the continued
tendency of private automobile own
ers to go to work on the streetcars
and buses. Officials report that this
last three years, mainly due to i'm
provements in service and new
equipment.
President E. D. Merrill said yes
terday that back pay for the period
from July l to November 80 under
the arbitration award handed down
on December 10. will amount to
approximately 5000 and was not
included in the November state
ment. This expense will be carried
as an adjustment in the December
accounts.
AS already noted, net income in
November totaled S116,924l6, a
startling upswing of S70,338.48, or
ISL per cent over November, 1889.
In light of the wage increases, this
figure is not as good as it looks.
However, with the II months sum-
mary so favorable, the full year 1910
will be outstanding.
Expenses Cut PepcO Income.
The Potomac Electric Power Co.
has Just filed the results of II
months operations with the Public
Utilities Commission. Net income
totaled 1851 ,46622, against $780,
63l17 in the like period in 1889, a
decrease of $3.50, 1874 95, or 500 per
cent. The statement shows that the
substantial gain in operating rev.
enueS was reduced by a still larger
advance in expenses.
In November operating revenues
totaled S1.412,05091. an upturn OF
500 ,5l783, or SIS per cent. Oper-
ating costs, however, called Tor
1884 ,437 go, an increase of S92 5000,
or 1899 per cent, leaving the net
returns from operations $23,132.72
lower than last year, The company
at present is doing a very large
amount of conduit work all over
the city.
After all deductions for interest
payments were made net income
amounted to S3l7 ,889.46, against
$685., 17497 year ago, decrease OF
S34285.51, the report disclosed.
Loan Association Assets Climb.
Resources of the building and loan
associations doing business in the
District of Columbia for the period
ending November 80 continued up
ward, according to a report COM
piled yesterday by F. Wilson Camp,
secretary of the local league. The
statement discloSeS assets at a new
high totaling Sl55, 546 82l, which
represents a net gain of S14,258, 422
over the comparable figures OF
year ago,
Mortgage loans outstanding have
increased to $146 ,806 466, as against
Sl32,772.926 on November 80, 1899.
While November mortgages declined
slightly under the previous month,
the S4,200,967 total is up consider
ably over the $3,433 300 approved
year ago.
A breakdown of the mortgage
transactions revealed that of the
November advances $1,177,483 was
for construction, ST 1885 went for
new houses not previously financed
while other loans aggregated ST.
O3e $50.
Reserves of the % associations
have climbed to s10900,464, an in
crease of $685. over last year.
Regulars and Extras Voted.
Directors of the Lincoln National
Rank have declared the regular 2l2
ner cent semi-annual dividend and
also an extra dividend of 212 per
cent. both payable January l to
stockholders of record December Il,
1t was announced yesterday by Pres
ident Floyd E. Davis.
Directors of the National Metro
politan Bank have declared an extra
dividend of 8 per cent per share,
President C. F.. Jacobsen announces.
The payment date was yesterday.
The directors also voted a Christ
mas bonus for all employees OF the
bank.
Directors of the Terminal Refrlg-
Grating g. Warehousing Corp. have
declared the regular seml-annuai
dividend of $3.50 per share on the
outstanding stock, payable Decem-
her % to stockholders of record De-
cember 20. Secretary Jerry P. john
son reported yesterday.
washington merchants reported
Yesterday that Christmas trade had
maintained the record pace during
the week. Predictions were again
made that the holiday volume Will
far exceed last year.
Lanston Monotype led trading on
the Washington Stock EXCHANGE
yesterday with so shares selling al
%. Peoples Drug Stores common
was also in demand, 40 shares
changing hands at %, eX dlvloeno.
Lincoln Service common appeared on
the board in a 10-share sale at 10.
Robert C. Jones & Co., investment
Arm, held a Christmas reception
Friday afternoon at the offices IN
the Shoreham Building. the guests
including large number of bank
erS, fellow brokers and clients.
This gathering has been an annual
event with the company for years.
Financial District Notes.
Arthur Clarendon Smith, presi-
dent and treasurer of Smiths
Transfer & Storage Co., has been
elected director of the Lord Fair
fax Country Club.
Three hundred members of WASH
tngton Chapter, American Institute
of Banking, and guests attended
Of