Evening star., 1945-02-23
Capital Transit Co.
Reports January Nei
Well Above 1914
BY EDWARD c. STONE.

Dy ELL fAIND " . OlNEs
Net income Of the Capital Transit
Co. in January amounted to $751;
637.17 against SLOT ,21010 In the same
month last year, an increase of
30,427.07. or 28.4 per cent, accord
ing to the report filed with the Pub
lie Utilities Commission today.
The first month of the year saw
operating revenues climb to $685.
932, a gain of $131 ,108 or So per cent.
At the same time operating expenses,
taxes and depreciation of $2,190,0l2
We're S100, ,408 higher than a year ago,
or 4.8 per cent. Operating expenses
were $28,993 higher than in January,
1914. and taxes were up $72,016, an
increase of II per cent.
Interest charges were slightly
higher than last year. Revenue pas
sengers increased substantially, 35,-
8l2,985, showing gain of 2,305, ,1l3
over January, 1914, or SO per cent.
Byrd-Butler Bill Analysed.
John B. Payne, controller, United
States Commercial Co., an affiliate
of the Foreign Economic Admins
tration, analyzed the Byrd-Butler
bill before $50 members and guests
of Washington Chapter, National
Association of Cost Accountants, at
the Washington Hotel, Wednesday
evening.
w. L. Slattery of the United States
Maritime Commission, said there is
no present requirement that directs
that books of Government agencies
be kept on sound accounting prin-
ciples and suggested that Congress
should direct that monthly profit
and loss balance sheets be required
OF Government corporations.
b. g. o. 1914 Net Lower.
Details from the report of the
Baltimore & Ohio Railroad show a
1914 net income of $20,914 ,438, a de-
crease from l943 of Sc, sos DAB. Oper-
ating Ievenues were up $29 ,050, ,884,
but operating expenses were $685.
484, ,402 higher than in 1943. Freight
revenues revealed gain of SIS, ,781,-
I'll and passenger, $11 ,553 ,033.
Capital Transit climbed to SO on
the Washington Stock Exchange
today, highest price in many years.
Washington Railway 81 Electric pre-
ferred, at 1922 ex-dividend, also set
new high.
New Director Lauded.
Friends of j. Edward Heberle,
vice president and controller of the
Capital Transit Co., were greatly
pleased with his election to the
Board of Directors. He started with
the company in 1907 as a stenog-
rapher, became chief clerk, assistant
secretary, assistant to the president
and took his present position at the
time of the merger in 1888.
He has been a leader in WASH
ington Chapter, Controllers Insti-
tute of America, in American Tran
sit Association affairs, and is a
former president of the Transit Ac-
counting Association.
Financial District Comment.
Pennington Miller-Jones, who has
just returned from three years
Army service in the Mediterranean
theater, has been appointed district
manager of Bacardi Imports, Inc,
for Washington and Maryland.
Charles H. Cuny, credit manager
of the Caterpillar Tractor Co., Pc
oria, ILL.,, has been appointed credit
manager for United Air Lines, it
was announced here today. Credit
volume has increased because of the
wide use of air travel cards.
The American Banker states that
the Bank of Commerce g. Savings
of this city moved up 96 places
during the past year to 10l4th in
size among the Nations banks. DE-
posits advanced from s9,352 ,27O to
$12,986, 1863.