Evening star., 1909-03-08
LOCAL FINANCIAL NEWS.

Neither the increased business for the
traction companies due to inauguration
crowds In the city nor the effects of the
Inauguration storm on the wires Of the
telephone company in Baltimore and
throughout the country regions where
the overhead service is used appeared to
of the securities at the meeting today Of
the stock exchange.
There was no trading in all cases. but
ten shares of telephone stock sold for
1929. which was the asking price for the
stock Saturday. and the bid at tho close
was 1O2M which was better than the
last recorded figures. In fact the best
price recorded during the past week fol
the stock was 1921.
The business done in the traction stock
securities was slight In volume, but
which have recently prevailed. A consid-
cradle amount of the bonds Of the Wash
|ington Railway and Electric Company was
for sale, and In blocks Of 5000. which
is more than the usual selling lot on this
market. Three such lots were taken at
Ssh, and while the demand fell of, 1t
was apparent that the supply was not
exhausted.
Capital Traction stock sold at 13c.
which Is the recent high level for that
Of the Washington Railway and Electric
Company, the bid was go. but without re-
suit The only transaction In the stock
was the sale Of two ten-share lots at 9OA
and 9OA. respectively. No change was
made in the figures for the common stock
Twenty-Five shares Of gas stock sold for
7OA and twelve shares for Il. while the
bid was 7O11. and the asking price a
quarter Of point in advance. which MADE
of rjol Hh
the last recorded prices.
The Commercial and Financial Chronicle
of New York in its issue of Saturday
states: The interest due March !. 1909
on the first mortgage bonds Of the Bal
timore Terminal Company. which art
guaranteed. principal and interest. by tht
Washington. Baltimore and Annapoli!
railway, remains unpaid. The enterprise
is largely owned in Cleveland"
1t quotes the Cleveland Finance as fol
lows: THE expectation is that thi!
interest will be paid in ninety days. TO-
gether, of course, with interest on tht
deferred interest. The company has out
standing 1882, coo Of these first mortgagt
Baltimore Terminal bonds, but probably
in excess of s60O,OO0 are used for col
lateral purposes and so long as the in
terest is paid on the notes, OF course, the
company does not have to pay the inter
est on the bonds used as collateral
Annapolis has interest due on 5000 OK
firsts and 100000 seconds. It is yer,
probable that interest on both these
| issues will not be paid on that date. A.
result of this information leaking ou
February "a. ashington. Baltimore ant
Annapolis SIS declined from 90 to "a
while Baltimore Terminal 5's broke lY1
points, closing at 81. The stock. which
had been selling around 1 sold dowr
to 5. with later recovery Of one-quar
ter Of q point
President George Bishop. January %
said: The Washington, Baltimore ant
Annapolis as a property Is but In tn,
infant stages of its operation. For TIT
six months since July ! last it earned
an average Of 81 1927 daily. carrying al
average Of 4,075 passengers each day
for that period. This is an average o1
forty-three passengers per car, probaabl,
better average than any interurbar
road running into Cleveland.
IF we get an increase Of only Is pei
cent the second year over the first tn,
road will be able to earn its operatin,
expenses, taxes and fixed charges. Al
most any new road should do Is per cent
or more better In the second year. With
that in view. any talk Of reorganization
at this time is ridiculous. The com
pany has no pressing debts"