Evening star., 1943-10-29
September Earnings
OF Capital Transit
Well Below 1912
By EDWARD c. STONE.

BY EDWARD c. STONE.
Due to very heavy expenses, Sep
tember net income of the Capital
Transit Co. amounting to S120.52691
disclosed a decrease of S37.44692, Or
23.7 per cent, from year ago, &C
cordiLg to the monthly statement
filed today with the Public Utilities
Commission
Operating revenues totaled $2246.-
2S845, an increase of Sl05, ,155 As
However, operating expenses called
for Sl482, ,568.30, an increase OF
.S144.244l5.
Taxes totaling S413,47724 were
Sl3,757 lighter than last year, but
depreciation of $l90,595.77 was more
than $4,000 ahead of the same
month year ago. Gross income of
Sl8l ,89491 compared with S222l44.
Revenue passengers in September
numbered 33.34937O, a substantial
increase of 2.544856, or 83 per cent.
Nine Months Net Also OFF.
Capital Transit S net income in
the nine months amounted to the
substantial sum of $1209 ,35867. but
was Sl23,77l02 under the like 1912
period, the report said.
Operating revenues OF S2l,l00,-
6469l were S3.817534. or 221 per
cent higher than a year ago. OPP
Grating expenses. taxes and Gepre-
citation were 25.6 per cent, or So
966.37l6 64 higher. reaching S19,457,- =
5523l.
Taxes alone We're up S1575 ,5oO7
in the nine month period, or an in
crease of 527 per cent.
Revenue passengers in the nine
months bered 1882 893,
against 249 97l4O44 a year ago, a
jump of 64.l18.839 the report stated
ID. {. Store Inventories Decline.
STOCKS OF goods on hand in Wash
in2ton department stores at the
end of September were IA per cent
lower than inventories on the same
date year ago, the Federal Re-
serve Bank of Richmond announced
today. This compares with an
average drop of 3 per cent in the
whole Fifth District.
Outstanding orders for goods.
however, were 1870 per cent higher
than on September 30. 1912 the
report continued. Orocrs Ior mer-
Chandlsc were up 127 per cent in
the Fifth District. 1877 in Baltimore.
81 IN Richmond and 1853 III group
Of other cities.
Total outstanding receiy ableS in
Capital department stores on Sep
tember 80 were 27 per cent lower
than on the same da last year.
In the Fifth District they were off
l6 per cent, 10 i'll Baltimore and 8
in Richmond.
Collections on open accounts dur
Ing September III Washington were
UP 81 Pc cen. agaInSt u % per
cent gam III the same month year
ago. The average increase Ior the
Fifth District was SO PEI cent.
Collections On mstaIment ac-
counts III Washington sores in
september were 26 per cent O. re-
colVa0leS que the Isl Us the month,
against collections OF ~ per cent
year ago, the survey s,a.pa.
Rctaa. trade in the Capital Was
up 9 pc. cent il SEPTEMBER ana T
per cent III tne nine months.
Oil Stoci. in Lively Demand.
Washington investment house,
had substantial orders from custom
erS for clocks OF the S25 900 900
Standard OIL Co. shares which John
d. Rockefeller. j., intended to sell
In order to buy more War bonds.
Inc Inn. here were notified by
the syndicate that the sale had
been abandoned, the reasons not be-
ing made clear. The various issues
have been traded for years on the
New York Stock Exchange and it
was limited that MI. Rockefeller wa
TO put the companies to
the extra expense Of registering the
stock with the Securities and EX-
change Commission At the same
time SEC officials say they incurred
about the sale but issued no orders
pertaining to it.
To take care of their customers.
some investment houses here will
buy the stock on the New York
Exchange il was said To-Day.
Lan>ton Votes Dividend.
Directors OF the Lans On Mono
type Co have declared a Quartnriv
dividend O. 80 cents per share pay
able November 30 to stockholders o.
record No,Cmbcr 19 This Is the
same as other recent payments.
The board OF directors of the Ma
ticnal Association Of Sccului 9 Doll
els has instructed Executive DWec-
tor Wallace II. Fulton to establish
an office in Washington. in addition
to the present Philadelphia office.
New Business Attitude Seen.
Development OF d new delermina-
tlon on the part Of business TO
break the insldious habit of leaning
on the Government" is cited III the
monthly survey of the condition of
business i'll Banking official journal
of the American Bankers Associa-
ton.
There is strong revival of the
spirit of initiative throughout indus
try and finance and a willingness to
resume taking normal risks. Sig
nlflcantIy, this is happening at a
time when business is more COM
plcteIy dependent on Government
money than ever before in its his
tory, the survey says.