Evening star., 1915-06-21
WASHINGTON RAILWAY
SHARES WERE LOWER
Common Stock Sold to 80 and the
Preferred at S3la-Other Util-
tiles Nominal.
Georgetown Gas 5s Off Point-Ex
press Companies Show Deficit
From Operation.
BY I. A. FLEMING.

Lower prices were established on the
local stock exchange today for Wash
ington Railway and Electric shares. the
common selling at a0is to 90, generally
The inside figure. while the pre-
ferred sold at SS'2. Inside prices were
bid at the close. OF late there has not
been the same stubborn. unyielding g
support to these shares as there was
in the first five months of the year.
While there has been no pressure to
sell. some holders have accepted the
reduced bids as evident by the sales
today.
Capital Traction and Washington Gas
We're nominally unchanged. S9is bid
and al'z asked for the former and -
bid for the latter.
In the bond list there was but one
trade. the second of the year in George
town Gas 5s, a bond selling at 1903, a
point off from the last previous sale.
Dividend
The Bank of Commerce and Savings
will pay per cent dividend July l
to it's shareholders of record June 10.
Bank Showing Not Important
Time was when the New York bank
statement. issued just after the close
OF the stock exchange Saturdays, was
a decidedly, important factor; when
brokers. traders and bankers waited
anNiously FOR the showing. watched
the decrea sing or increasing loans and
Worried to the percentage of re-
serves.
The bank statement for years was
one. of the chief factors and regulated
very largely the trend of stocks.
. Today the bank statement seems to
have lost its Importance. The loss or
gain of millions of surplus reserve
Sould not affect stock values in the
slightest: traders no longer speculate
on what the showing will be-money
q so easy and such an amount of idle
funds on hand, with rates so low, over
the rest of the year. that borrowers
have ceased to pay much attention to
the weekly reports.
Financial Notes.
The United States Steel Corporation
expended s6,o1s,siS last year for bet
terment of employees. relief for men
injured. accident prevention, sanitation.
etc BY reason of heavy expenditures
and effort in this direction. the last
eight years has witnessed reduction
OF over 40 per cent in serious accidents.
j. =. Morgan & Co. declare that no
Rritish treasury bills will be offered on
this side of the Atlantic. Long term
bonds may be purchas sed privately. in
connection with the war loan now
under consideration.
Since the 1st of January New York
banks have gained s113.400,00O from
The interior and reserves are piling up.
The Chicago and Alton Railroad Com
pany. for the ten months ended with
April. reported a net income of s204I,-
s6i, an increase as compared with the
same months of the previous fiscal
year of sTS1.969.
The American Express Company, for
February and eight months of the fiscal
rear ended with February. reports an
operating deficit for February or S2l2,-
o55: and for the eight months an op-
erating deficit of s41S.44s: this with
increased mileage covered by the sys-
tenn, of 12.300 miles.
The Adams Express Company for
tine same eight months reports an op-
Grating deficit of s1,o01,s1s.
During the month of April 1915, the
steam railroads of the United States
produced a net revenue of S54,7Os, ,2o7,
after taxes. The roads in the eastern
district produced s26,212,542; in the
southern section. ss.s17,55s. and in the
western division. s19,615.107-