Evening star., 1914-02-11
LOWER PRICES PAID
FOR RAILWAY STOCKS
Downward Movement Started Yes
terday Continued at Ses-
sion Today.
Estate Trust Di-
rectorate.

Further declines in the prices for Capt.
tai Traction and Washington Railway
and Electric preferred stocks were re-
corded on the stock exchange today. The
reason for the weakening of the Sc
curities was the basis of much specula-
ton
No trading was done in Capital Trac-
ton stock during the regular call. The
quotations remained unchanged at 1919
bid and 10 asked After call a ten
share lot sold at 1G9s4. which was a quar-
ter of point less than the lowest SELL
ing price of yesterday. The seller then
offered the stock in ten-share lots
down to 1osa4. at which price twenty
shares were traded. Quotation lots then
were offered at 1oS24, but no bid was re-
ceived
Washington Railway and Electric pre-
ferred stock sold seventy-tive shares at
81. half point less than the lowest fig
nre OF yesterday. Odd lots aggreSat ting
stxty-siN shares sold from ST.. down to
s6s. The closing bid was S6s4 and the
asking price was SLY.
Washington Railway and Electric COM
mon stock also sold on a declining scale
After call forty-tive shares brought 80
and fifty shares sold at sos
In the bond list Riggs Realty Is Cong)
SOLD s"coo at 1o1s4, and Capital Traction
's brought los for $1,000. Railway and
Electric Il sold $1,000 at S17s
Sales of Columbia Title stock agsregat-
ing eighty-three shares were made at 5l2
and Merchants Transfer and Storage
stock brought 40 for three shares.
Banks Liability for Refusal to Honor
Checks of Customers will be the subject
of an address by Alexander Wolf, counsel
for the Bank of Commerce and Savings,
al a meeting of the local chapter of the
American Institute of Banking tomorrow
night at the chapter rooms, 12l4 + street
northwest.
Bion J. Arnold of Chicago who has
made valuations of traction properties in
a number of cities throughout the coun-
try. spoke OF Some Applications of the
Principles of Conservation to the Re-
adjustment of Rela tions between Mu-
inequalities and Urban Railways before
the Washington section of the American
Institute of Electrical Engineers and the
Washington Society of Engineers last
night at the Cosmos Club.
Acting upon an opinion by Attorney
General McReynolds. Commissioner of
Internal Revenue Osborn has notified col
lectors OF internal revenue that income
from obligations of special assessment
districts shall not be included in the COM
putation of net income taxable under the
income tax law.
The Attorney Generals opinion held
that such districts are political sub
divisions of a state. Levee and school
districts lawfully authorized by law to
levy tax to meet their obligat tions
are held also to be political subdivisions
and their obligations exempt.
Gist Blair was elected chairman of
the board of directors of the Real
Estate Trust Company at a meeting
held at noon today. Frederick H
Treat of Philadelphia was elected a
vice president of the company. An eX-
ecutive committee was elected as fol-
lows: II. Bradley Davidson. Gist Blair
Wade II. Ellis. Frederick II. Treat
Robert 4. Roosevelt and X. Golden
Donaldson. Vincent Kerens was elect
ed a director of the company.