Evening star., 1940-06-04

months in 1889 are as follows:
1880 1899
January ------ S67227G S652.174
February - 626625 577.684
March ------- sos. .348 8O,3Sl
April ------ 705,744 664,23l
May - 694,092 633 .l68
Total .- S3.397,279 S3.207, $50
Today's report is in line with the
May report on bank clearings in
the Capital, which revealed a gain
of more than S22 100000 over May,
1889
Where Streetcar Fares Go.
Transit News, just issued for June
says that on the basis of estimated
business in 1910, the fares the
Capital Transit Co. receives during
the year will be disbursed in this
fashion:
Almost one-half. Or 1870 days
fares. will go to meet the pay roll
of the $500 employees, trainmen
bus operators, mechanics, track and
roadway workers and Office force
The fares from 73 days will go
for operating materials and eX-
penses, maintenance of present
equipment, new equipment, and the
purchase of gasoline. oil and cleo
tricity and the thousands of other
articles necessary to carry on the
business.
Governments. local and Federal
$-in Low i,,
the form Of taxes. Depreciation
will take Al days fares
Interest on bonds and notes out
standing will eat up fares from %
days
what's left, fares from 19 days,
will be used for dividends and
surplus
Accounting Book Aids Public.
Questions which the public has
been asking about the profession
and practice of accountancy for the
past year or more are answered in
Accounting and Your Pocket
book special public information
reference pamphlet which the Dis
trict of Columbia Institute Of Certi-
fled Public Accountants is distribut-
ing throughout Washington, it has
just been announced by Harold C.
Anderson president of the insti-
tute. The pamphlet was first dis
tributed at Joint meeting of ac-
countants and bankers held at the
Mayfower Hotel on May "a
The pamphlet points out the diff
hot ,,rl
auditing; explains the auditors re-
port or certificate" which accom-
panies financial statements, and
stresses the importance of opinion
and judgment in the work of the
certified public accountant
accounting and Your Pocket
book will be distributed through
out this area to trade associations.
chambers of commerce, bankers, at
tornevs, credit men, teachers. busl-
ness executives and merchants,
State and local government Off
cials, civic groups, students, serv-
ice clubs and others.
West Virginia Bankers Meet.
Five men prominent in banking
and finance will address the West
Virginia Bankers Association at its
47th annual convention at White
Sulphur Springs. w. Va, June 6. 7
and 8, it is announced by the asso-
citation officials.
They are: Gilbert T. Stephenson.
director of research of the American
Bankers Association; George B.
Roberts. vice president of the Ma
tional City Bank: Allen M. Pope,
president of the First Boston Corp:
John j. Driscoll. jr. of Driscoll Mil
let Co., Philadelphia, and Walter B.
French. deputy manager in charge
of consumer credit of the American
Bankers Association.
Prof. GuStavus w. Dyer of VAN
derbilt University will be the BAN
quet speaker and Arthur M. Hill of
Charleston, W. Va. POSTMASTER.
Compromise Plan Filed.
A registration statement was filed
yesterday with the Securities &
Exchange Commission on the pro-
posed issue by Capital Transit Co
of certificates of modification as
sumption and guarantee for more
than 100000 of per cent bonds
Of the Anacostia g. Potomac River
Railroad Co. and of the City &
Suburban Railway.
The statement, which sets forth
provisions of an agreement recently
reached between bondholders and
the Capital Transit Co. and the
Washington Railway g. Electric Co.,
contains the same proposal recently
put before the local Public Utilities
Commission here, which is to hold
hearing next Thursday on the
matter.
II the agreement is approved by
bondholderS owning 80 per cent OF
the issues it would become effective
Is OF April l. Approval must be
had from both the P. U. c. and
the S. E. C.
Exchange Prices Steady.
Prices were steady on the WASH
inston Stock Exchange again today
with lively trading.
Capital Traction IS opened the
market with a $1,000 transfer at
1914, unchanged from yesterday.
Fifty shares of Capital Transit
stock sold at IL, also unchanged.
Three more small sales in Woodward
81 Lothrop preferred were registered
at lib, same as yesterdays transfers.
Potomac Electric Power per cent
preferred figured in small sales at
111l2 and the 512 per cent prefer
red sold at exactly the same nrice
Fifty-one shares of Washington
Gas Light common brought %.
Washington Railway & Electric As
moved at 106
President Roosevelt has reap
pointed Albert G. Black of Iowa as
governor of the Farm Credit Ad-
ministration for six years and Ed
ward c. Eicher of Iowa as mem
Der Of the Securities and Exchange