Evening star., 1942-09-25
Capital Transit Net
Boosted Sharply by
Heavy Traffic
.. .- .
Sl73,262 for August
Up ll2.2 Per Cent
From l94l Month
BY EDWARD C. STONE.

By EDWARD C. STONE.
Due to a heavy increase in pas
senger trafiic. net income Of tn,
Capital Transit Co. reached $l73,
262.4l In August, jump Of $9l,
5e9.O4, or 1922 per cent over August
1941, according to the report filee
with the Public Utilities Commis.
sion today.
Revenue passengers in Angus
numbered 30,76l,7l7, against 49,,
727, ,50S In the same month las
year, an increase Of 12,034, 200, o.
64.3 per cent, the report revealed.
Operating revenues were up $685.,
45.28, or 626 per cent; operating
expenses climbed $424,e Sc, or 45.I
per cent; taxes. $272 2,749.s3, or 2o3.'
per cent, and depreciation, $31,.
077.54, or 23.8 per cent, leaving ar
operating income of $2o5, 5,oo5.o1
which was $94.955.55 higher thar
last year, or S6.3 per cent. Deduc-
items from gross for interest wer.
$4.439.09 more than in 194l.
Net income in the first eight
months of this year totaled Sits
1896, an increase of 1868 ,199 so, OF
a. rise Of 65.1 per cent, the report
showed. Operating revenues gained
$4.984 ,326.8l, or 491 per cent, and
operating expenses. taxes and de-
probation were $4,5l4,234.02 higher
than last year, or 499 per cent.
Revenue passengers showed a IA
038,278 increase. or Sill per cent
over the like 194l period.
OPA Service Charge Ruling.
Service charges on bank accounts
are exempt from price control reg
ulations Of the Once OF Price Ad-
ministration, according to a state
ment received by the. Washington
od1ce Of the Americ, y Bankers
Association, in answer a flood Of
inquiries from bankers ! over the
country.
Bankers became deeply concerned
when an OPA State directe recently
ruled that such service cha tes were
subject to ceilings under I. z price
control law and OPA regulations.
When this Interpretation was made
public. the Washington ONCE Of the
OPA was asked for a definite ruling
The opinion, requested by d. j.
Needham, general counsel of the
American Bankers Association, was
written and forwarded to his office
by Henry M. Hart, jr., associate
general counsel Of the OPA, and sets
at rest any further concern over
charges made by banks to customers
for various services performed in
connection with their accounts.
The l4,00O banks in the bankers
association will be notified at once
Of the OPA ruling, 1t was an
nounced today. :. tt'
Pennsy's August Net Rises.
Net railway operating income of
the Pennsylvania Railroad In August
reached $l4,917,766, an increase Of
$4,591 ,269 over the same month last
year. t.t. go, =. D.. .,
Railway operating revenues totaled
$76,o47.112, up more than $40, 900, ,O00
Freight revenues gained $10,136, 1854
and amounted to $54, sol ,22l. At the
same time passenger revenues were
up So, 9,o17 ,1oS. Operating expenses
required $s,842,154 more than last
year and taxes rose $5,871 100 over
August. 1e4l. a>. 4
In the first eight months of this
year net railway operating income
reached $74,671,284, an increase of
$1l 1893, ,214. In this period freight
revenues were up $sl 1852 ,746; pas
senger revenues, $40 3,539, ,S45; while
operating expenses rose $s0,s7S, ,702.
Wilson Made Bank Auditor.
Ernest R.. Wilson was elected aud
iter Of the Bank OF Commerce IL
Savings at the annual election held
late yesterday. He has been acting
auditor for the last year. A native
Of Virginia, he has been with the
bank since 1885, has attended the
American Institute of Banking and
studied accounting at Southeastern
University.
M. D. Rosenberg was reelected
chairman Of the board; Thomas j.
Groom. president; Joseph Sanders
vice president; Francis E. Robey
cashier; H. r. Sharpe, secretary;
Thomas j. Norris, John e. Monk
George L. c. Scheirer and Sidney
s. Sachs. assistant cashiers.
The following were appointed
members of the Advisory Board OF
the H street branch: A. e. Giegen-
gack, William M. Mooney, Leo A.
Rover, Albert S. Galley, Vincent
c. Burke and Francis e. Robey.
According to the annual report,
the bank earned $5l. SO per share on
the stock in 1941.
Mortgage Bankers to Meet.
Washington will send an impor-
tant delegation to the annual meet
ing Of the Mortgage Bankers Asso-
citation OF America, which opens in
Chicago Tuesday. Among those who
will attend are:
G. Calvert Bowie, H. L. Rust &
Co., and William L. King Of Boss
81 Phelps Mortgage Co., both men,
bers Of the Board of Governors;
Claud Livingston, president William
H. Saunders Co., Inc; Edward K
Jones Of Weaver Bros, Oliver M
Walker and w. Laird Dunlop OF
Dunlop & Walker, Frank S. Phillips
S. e. Golden and Albert Small OF
Golden d. Small, Charles c. Koones
and S. Miles Montgomery OF c. C
Koones & Co., r. B. Montgomery
and Donald F. Roberts. Acacia Mu.
tuAl Life Insurance Co.