The Washington herald., 1908-01-21
SLUMP In RAILWAYS
Stock of Both Companies
Takes a Heavy Fall.
COMMITTEE MEETS
Clarence +. NOrment Heads Manag-
Ing Forces of Washington Railway
and Electric COmpany-SpecuIati
as to Final Choice of President.
Trust Company Chooses Directors.

| L AlSca VI tie securities OF the local fdll-
way corporations had a quick and heavy
bump yesterday on the Washington Stock
Exchange. The slump Of the preferred
shares Of the Washington Railway and
Electric Company is perhaps explained
| upon the basis Of dissatisfaction on the
part Of many persons with the outcome
Of the election Of officers and directors
last Saturday, This was the view taken
on the part of outside observers. At any
rate 200 shares of that issue were sold
from 2 down To 50, with the closing bid
slightly above that figure. The stock went
on the record IN nfty-share lots and
smaller, and the offerings were well and
quickly taken.
Dissatisfaction on the part Of some
stockholders with the elections in the one
company does not explain the fall in the
shares Of the Capital Traction Company,
which was pretty near as great. These
shares sold of from i23 to II. and in
fractional lots back again TO 123, with
the bid price for the stock AZ the close
at 1874. Trading outside Of these issues
was chiefly 100 shares Of I.anston at 92.,
and 200 shares Of Greene Cananea at ga
Norment Made Chairman,
The executive committee Of the wash
Ington Railway and Electric Company
met yesterday at the offices OF the com
pany and elected Clarence F. Norment
chairman. other than this no important
business was transacted. The committee
had long conference over the financial
condition Of the company, and the mem
bers began familiarizing themselves with
the details Of the management.
A member Of the committee stated last
night that # was the determination Of
each member 10 participate actively in
the mana cement Of the system. and. as
he expressed il, make something out or
the property" Il was stated that the
committee has very important work
before It IN its efforts 10 better the equip
ment and service. pay OFF the indebted
ness, and bring tho system up 10 a
strong financial plane He thought it
meant much hard work for the commit
tee. and the exercise OF some patience on
the part Of the public
The idea was expressed that before very
long there would be- tangible signs OF
activity toward betterment OF the serv-
ice which. in the mind Of this member
Of the committee. was what was most
expected. he hoped that the long suffer
ing OF the community would not express
itself too urgently until the committee
had time TO see what could be done and
devise the best methods 20 bring il about
EfII D{Scuss Presidency
The elections on Saturday were the
main topic OF conversation yesterday. and
naturally talk centered around the ques-
ton Of the ultimate presidency Of the
corporation Partisans Of Mr. Loeb,
others of Mr.. Truesdeu, and others Of
Air. Norment were seen I'm almost every
knot OF brokers and financial men. argu-
ing the ground over with great anima-
tion The Loeb partsans were especially
loud in their pTOtestati0Hs thar about the
time President Roosevelt leaves for
Oyster Bay next summer the directors
VIII get together and elect Mr. Loeb pres
ident in place OF Mr.. McDerm0tt.
This view Of the case. however. is not
shartd by others, and many are stiH OF
the opinion that the Presidents secre- /
,ary was as near the presidency Of the I
last Saturday as he will ever
get, which apparently was not near 4
enough to be elected
A meeting 81 the Dime Savings Bank |
Is 20 be held within few days 20 pass
upon the increase of the capital stock Of /
the institution from S0.e}0 20 Sl0oe0.
Trust Company Elects Directors.
The stockholders Of the American Sc
eurity and Trust Company met yesterday /
and elected directors. the only change In /
he board being the selection Of Howard .
Reside to fll the vacancy caused by the
1eath Of Henry Wells
TIE directors elected follow. Milton r
allies, Charles J. Bell, Henry F. Bl0unt.
John C. Boyd. Samuel S Burdett. Albert
Garry William NJ. Coates, Robert Dor
IAN. George T. Dunlop. James Z. Fitch,
William J. Father Henry H. Father.
Daniel Fraser. James NJ. Green, John T.
derrell, George F. Huff, Henry Hurt,
IChn A Kass0n, John r, Mclean, Clar-
nee F. Norment Crosby 5. Noyes, Myron
v. Parker, Joseph Paul Albert NJ. Read,
Howard 5. Reeside. Ward Thoroa, Frank
J. Eanderiip. John F. Wilkins, Henry