Evening star., 1943-07-23
Capital Transit Net
Below 1912 Despite
Traffic Gains
BY EDWARD C. STONE.

Co. in June amounted to $149,117.97
1eompared with $l94, ,22964 in June
zlast year, a decrease of $45,11187, or
% per cent, according to the monthly
statement filed with the Public Util-
tiles Commission today.
Heavier expenses accounted for
the drop. Operating revenues again
increased, $2,425, $50 showing gain
of $393,813, or 19 per cent. Oper-
ating expenses of $1,463,4l6 were
s196, 1898, or IS per cent more than
last year; taxes climbed to S6O2 ,4O2,
= up $225 ,266, or SO per cent, while
: depreciation totaled $190,448, or
$30,998 more than last year.
Revenue passengers continued to
show a sensational increase, num-
1cbering 36,347,731 in June, an in
, crease of 6,7S7,129 over June, 1912,
or % per cent, the report stated.
Net income in the first half year
amounted to 1892 2,2S669, against
SS40, 1882 year ago, a slight drop
a of s7,851.93. Operating revenues
were up s3,305, ,620.28, but expenses
- increased s3,314,363.7S.
Revenue passengers numbered
211041,O14 an increase of $3.50, ,439,
or "a per cent.
Checking Accounts Grow Rapidly.
In spite of heavy War Bond pur-
, chases, depositors in the Capitals %
> banks increased their checking &C
counts by $30,099,000 in the first
: half of this year, pushing total de
mand deposits to S433, ,666,000, ac-
coroing to the latest survey by Con-
troller of the Currency Preston
Delano.
T, In the same period depositors in
r Washington banks boosted their saw
ings accounts $4,033 900, aggregate
, time deposits on June 80, standing at
S134, 1897, 900 against $130,834, 900 on
December 81, 1912.
.o Deposits by the United States
Government and postal savings ad-
yanced from $16,706,000 to S38,003,-
600, an increase of $19.297 900.
e- Controller Delano reports that
total loans in the six months de-
clined S10,254,00O to S108, 100000.
Capital banks increased their in
vestments in United States Govern
ment securities by S65.22o,00O during
the half year, the total reaching
S356,218 900. Aggregate investments
climbed to $386,713,000, a jump of
$79,824,000 in the half year
The Controllers review reveals
total surplus of $40 22o 900 as prac-
tically the same as on December
81 Undivided profits increased
$378,O00 to s10,545 900, rejecting the
substantial earnings so far this year
Interbank balances, which no longer
appear in the deposit totals, in
creased by the modest sum of
$4,000, the survey disclosed.
Easier SEC Rules Demanded.
Howard R. Taylor, president of the
Baltimore Stock Exchange, Is con-
tinuing his efforts to persuade Con-
gress to ease Securities and Ex-
change Commission rules and force
all transactions in securities to be
handled by designated exchanges.
: Because they are not listed with
the SEC. such securities as Maryland
Casualty, Maryland Drydock, Mary
land Life, Baltimore National Bank.
Baltimore & Annapolis R. R., and
many others cannot be traded on
the Baltimore Exchange.
He has written members of Con-
gress claiming that such securities
should be sold through IAN exchange
that is LOG years old" and not over
the counter.
Reserve Banks Essential"
Operation of the IL Federal Re-
serve Banks and their branches has
been designated by the War Man
power Commission as an essential
activity" but the ruling does not
apply to member banks which are
still officially classed as neither es-
sential nor non-essential although
they are looked upon as essential to
a certain extent by the Selective
Service.
The Federal Reserve Banks asked
for ruling to stop the "pirating"
of their employees by war production
plants in critical areas and it is
hoped the announcement will reduce
substantially the present huge per-
sonnel turnover.
Financiers Honor Reilly.
John A. Reilly, immediate past
president of the District Bankers
Association, was presented framed
testimonial by the luncheon group
at the Willard this noon a resolu-
ton expressing deep appreciation of
his work for the bankers last year.
1t had the signatures of about Is
members.
At the request of President A.
Scott Offutt. the testimonial was
presented by Victor B. Deyber,
chairman of the board of the Sec
'ond National Bank, and chairman
OF the committee which prepared
the tribute to Mr.. Reilly.
. Ration coupon banking. changes
IN Government paydays, changes in
banking hours, interest problems
end War bond drives were only
few of the problems confronting
bankers last year under wartime
conditions.
ABA Issues Special Manual.
A comprehensive manual on war
loans to industry has been prepared
by the Bank Management Commits
sion of the American Bankers Asso-
citation and is now being sent to the
Associations entire membership, it
is announced by Walter B. French,
deputy manager of the association.
The manual contains 152 pages of
textual material, interpretations di-
gests of laws, contract and agree
ment forms, regulations and related
information.
The Bank Womens Club will hold
its July meeting next Monday eve
ming at $50 at the Continental
Hotel, Miss Mary Craven. president.
announced today. A special program
has been prepared.
Miss Mary Foster Barber has been
appointed a Junior officer of the
Penn Mutual Life Insurance Co..
first woman in the 96-year- old COM
pany to be so honored, the Washing
for, nff7re anno,lnced TO-DAY