The Washington herald., 1911-08-31
TRADE And FINANCE

10 sell. TnlS describes Ine COnQlllOu
that prevailed on local exchange yester-
day during the noon hour Of business.
So there was no lowering of prices asked
and there Is no story to tell Of how
stocks tumbled to coax buying.
II was a typical summer days market,
with many brokers on vacations and
many more getting ready to go. A lot
Of customers are out OF town, and why
should the brokers stay?
Thirty-three shares of stocks sold at
fair prices. Thirty OF them were bank
stocks and three were Railway preferred,
and the prices were not bargain prices
by any means.
STILL the present inactivity foretelIs
good speculative and investment oppor-
tunities when the cooler weather comes
and normal conditions prevail
Postal Savings to Open.
Having tried the system in small places
with great success and having perfected
the system Of postal savings banks, Post
master General Hitchcock has ordered
one OF them to be opened in Washington
on September 30. It will be installed in
the east corridor of the city post-office
and will be in charge OF L. ]. Robinson,
cashier Of the post-ofice.
Rules governing the use of this bank
may be procured at the post-off1ce.
Short Line Deal.
Negotiations are pending for the TAX
ing over of the Annapolis Short Line by
lis Electric Railway Company. The price
asked, 1t is said. is all that prevents an
acceptance of the road. In the present
state, the absence OF Presidnt r. T.
Fisher delays a decision.
Profits on the Annapolis Short Line, It
is reported, have been much cut by the
insistence that a heavy schedule be
maintained. The road faces a deficit Of
$26, 1881 during the last eleven months
as against one of $l7,496.S4 for the whole
OF 1910.
Stockholders in the Short Line are
anxious to see the road taken over and
are eXerting pressure on the officials to
put the deal through and sell their stock
for them.
To Build Fifteen Houses.
George w. Phillips and William S
Jones have bought from Edmund B.
Addison fifteen lots on Church street,
between Seventeenth and Eighteenth
streets northwest and will proceed TO
erect fifteen houses upon the tract. The
price paid is said to have been SIS a
square foot. yielding a total Of $32, ,IO3. .25.
A building loan of s37.5OO is carried on
the property. The sale was made
through the office OF the Thomas ].
Fisher Company.
Chevy Chase Deal Closed.
The Shoemaker tract sale in Chevy
Chase district, comprising ffty-one
acres, was closed yesterday by Fulton
r. Gordon, who will open up the tract
at once and subdlvide
This lot is situated within one and n
half squares Of Connecticut avenue. and
Is traversed by Mckinley street. which
Mr.. Gordon is now extending. The
great beauty Of the tract is the luxuriant
growth OF forest trees, which. in the pre-
pairing OF the land, will be preserved as
far as possible. The tract now repre-
sents an investment of 10000.
Street Sale.
The southwest corner Of Fourteenth
and Perry streets northwest has been
sold TO F. Sari. who will hold the Same
as an investment. This is a new build
Ing Just completed, and is located in tho
vicinity Of one OF the largest building
operations ever accomplished in Wash
ington' just north Of Park road on Four
teenth street. The consideration in the
transaction is understood to have been
- 30 This sale was made throught
the real estate office of Shannon &
Luchs.
Shareholders of p. r.. n. Co.
Compilations have just been compIeted
by the Pennsylvania Railroad in refer
ence to the number OF stockholders NJ
record receiving dividends August
showing that the company has more in
llVidual stockholders than at any period
n its history.
The total outstanding capital stock Of
The company on that date was $3.50 81. 90
liVided into 9,Ol9.4s1 shares. These
shares were held by 69,76O persons. The
average holding Of each of these persons
was 1928 shares, of a par value of
'6'464.6O. The dividends paid on the stock
as OF record on that date amounted 10
g. .764. .61075.
The 10 per cent stock allotment re-
Gently made by the company increased
he capital stock $3S,357. $50 to August :
2 per cent having availed of the privi-
ege Of paying in full instead of in two
nstallments. The number Of stockhoId
ers prior to April Il, when the allotment
was made, was 6604G. showing an addI-
ion of 3,14 shareholders in the last four
months
The figures disclose the fact that m
August l 1856 per cent of the entire
'apital stock was held abroad by 10000
shareholders. with average holdings of
Al shares each. In this country there
we're on the same date 21,545 sharehold-
RS located in the State OF Pennsylvapia
With average individual holdings of hS
shares. In New York State there were
2,OoG shareholders. The number Of wom-
N shareholders was 80, sol.
Big Earnings of c. p. r,
Gross earnings of the Canadian Pacific
'or the year ended June 30. were SlO4.-
67,S0S. an increase Of S9,17S3lS, according
% the pamphlet report issued yesterday,
Expenses for the year were ST.. 467. 9S7
which left net earnings of Ss6, $50 SEQ In.
'rease. S2,s59,S74. Other income brought
he total for the year to S42,s65, ,O35. in
;rease. $5,6S9, 1866. After deductfnR fixed
charges and other items, there was left
/ balance for dividends of $31, ,T73. .96I in
,rease, s.. .495, ,235. After paying preferred
md common dividends there was a ball
Ince OF S16,920,09S, an increase of S2,6O6-
02
During the year the company sold $50.
A acres OF land, for which it received
8. SIS, AT. an average OF S1469 per acre.
rhe, company bought from the Hudson
Bay Company parcels Of land scattered
throughout the irrigation belt, in order
hat II might control the entire belt and
'eceive the benefits OF money 1t expend-
ID in irrigation, aggregating 102,l4 acres,
or which IL paid $3.50 an mere The re-