The Washington herald., 1909-01-19
TRACTION SHARES
HAVE SHARP RISE
Bonds Also i'll Good Demand
on Local Exchange.
PRESIDENT JONES RESIGNS
william ID. Hoover Succeeds 10 Head
of National Savings and Trust Com
pany-StockhOIder Choose Direc-
tors for One Year--BOsrd Organ
izes and Elects Officers.

Sharp advance in traction shares and
q good call for bonds were the chief
features Of the trading on the Washing
Ton Stock Exchange yesterday. The
volume OF business placed on record was
probably the greatest Of the present year
The demand for bonds brought out
abort Sl5.O00. face value, OF the different
securities. Capital Traction 5s sold at
n7-a new high figure for them-Gas
certificates on call and after went on
record al 1g7. Columbia Railroad IS COM
manded n3, Washington Railway IS,
s. 5-s; Potomac Electric Lighting IS,
l0S 1-2. and Chesapeake and Potomac
Telephone IS. 104 In az these issues
the demand was greater than the supply
and bids were entered which could not be
filed.
Traction shares Advance.
In the traction shares a sharp advance
was seen both in the bid prices and in the
sales. Capital Traction rose TO 102. Wash
ingJOn Railway and Electric common
reached 81 Is for g shares, and Il for
several other large lots. The preferred
sold at s. IS 20 s6. and at one time the
bid was even higher than that.
The rise In the traction shares is due
TO the good showing the companies are
making in the matter Of revenues. The
annual report OF the Capital Traction
Company has already APPEAR, and that
Of the rival company is known to be
completed. and is said 10 be satisfactory
to the officers and directors
The investment in bonds is the natural
outflow Of money derived from the Jsnu-
ary interest payments into !nterest-pay-
ing securities
Trust Company Holds Election.
At the annual meeting Of the stockhold-
ers Of the National Savings and Trust
Company yesterday at o'clock the fol-
lowing were elected directors: Woyd-
bury Blair. S Thomas Brown. Walter c.
Clephane. William A Il Church. William
V Cox. William E Edmonston. Georse
" Gray. O. H Perry johnson, William
D. Hoover, Thomas r. Jones, Victor
Kaufman. Samuel Maddox. Martin F.
Morris. Henry Orth, William F. Quick
san. E. Francis Riggs. Frank ". Stone.
William H Walker. Henry A. Willard.
Henry K Willard, John L. Weaver, and
Horace Wylie.
President Jones Resigns.
Immediately after the stockholders
meeting. the board Of directors con-
vened. when Thomas p. Jones. who has
been connected with the company since
lS72. and has been its president since
1897, rendered his resignation. The resIg-
nation was accepted. with regret. and an
appropriate expression OF the app-ecia-
ton by the board Of Mr.. Jones splendid
services rendered 10 the company were
entered in the record.
The following officers were elected; ;
William D. Hoover, president; z. Francis
Riggs, first vice president; Woodbury.
Blair. second vice president: Frank ".
Stone, third vice president; George
Howard. treasurer; Charles z. Nyman.
secretary: Frank StetsOn. assistant trust
officer; Samuel J. Henry. assistant trea-
suTer, Charles c. LambOrn. assistant
treasurer and assistant secretary.
Stockholders OF the American Security
and Trust Company viii meet to-day TO
elect directors.