Evening star., 1948-09-24
Capital Transit Co.
Reports Deficit Of
S41,729 in August
By Nelson M. Shepard

While the Public Utilities Com
mission ponders the question of
higher transportation rates, Capital
Transit Co. today reported net
loss of S41,729 in August, after in
terest charges, compared with earn
ings of S8,776 in the same month
last year,
For the first eight months of the
year the company showed net in
come of 5000 ,687. as compared with
s195,682 for the like period of 1s47.
To Offset recent losses the COM
pany has applied to the PUG for
15-cent straight fare on streetcars
and buses and weekly pass rate of
Sl85 The commission has not yet
issued an order, though it has been
reported that two tokens for a
Quarter or a 13-cent straight fare
may be authorized.
Passenger Total Down.
Capital Transit reported also q,
s33056 fewer revenue passengers
carried in August than in that
month of 1947, decline of 95 per
cent. This reflects the increased use
of private automobiles more than
anything else.
The Hecht Co.. which operates
nine stores in the District, Maryland
and New York, reported today it has
declared regular quarterly dividends
of $685. cents per share on 334 per
cent preferred stock. and 40 cents
on common stock Both dividends
are payable October 81 to stock
holders of record october 8.
Bankers Go to Detroit.
Robert H. Lacey, president OF the
District of Columbia Bankers Asso-
citation. is leaving Washington for
Detroit late today by train or to-
morrow by airplane to attend the
opening Sunday session of the Amer
ican Bankers Association annual
convention.
Nearly a score of other Washing
ton bankers either are en- route to
Detroit or preparing to leave, in
cluding Robert V. Fleming. chair
man and president of Riggs Ma
tional Bank and A. Scott Offutt OF
Union Trust Co. Secretary of the
Treasury Snyder, various governors
of the Federal Reserve Board and
Controller of the Currency Preston
Delano are among leading Govern
ment officials attending the con-
vention.
From the Washington office OF
the ABA the general counsel. D. j.
Needham. and J. o. Brott, assistant
general counsel. are en- route. Miss
Thelma Boes of the Office staff also
will attend.
The Association Of Bank Women
already is in session in Detroit.
From Washington are Miss S. Wini-
fred Burwell of National Metropoli-
tan Bank. Miss Mary L. Chadwick
of Washington Loan & Trust Co.,
Miss Alice Whitton of Burke & Her.
bert. Alexandria. and Miss Eleanor
Dankmver of Savings & CONNER
cial Bank.
Others Will Attend.
Other Washington bank represent
atives headed for Detroit include:
r G. Addison, jr., Security &
Savings; Robert c. Baker, American
Security & Trust; George M, Fisher,
Washington Loan & Trust; Thomas
j. Groom Commerce & Savings;
Iinwood P. Harrel, Union Trust;
T. Stanley Holland. American Sc
curity & Trust; S. William Miller,
Union Trust: John A. Reilly. Second
National: william E. Schooley,
American Security & Trust; Fred
erick P. Siddons. jr., American Sc
curity & Trust; Corcoran Thom jr.,
Riggs National. and w. j. Waller,
Hamilton National.
Wives who are accompanying their
husbands are Mrs. Fleming, Mrs.
Fisher. Mrs. Groom, Mrs. SiddonS,
Mrs. Reilly, Mrs. Miller, Mrs. Harrell
and Mrs, Thorn,