Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-05-01
STRENGTH IS EVIDENCED
IN LOCAL STOCK LIST
Investors Encouraged by Showing Of
Some Securities Heretofore
Neglected %.
Capitalization and Earnings c
American and Canadian Rail-
roads-Financiai Notes.
BY I. A. FLEMING.

For the week ending with the close OF
the Washington Stock Exchange this aft
ernoon the record of transactions on the
exchange was 100000 face value Of bonds
and 377 shares Of stock. The volume OF
trading was not especially large. but the
bulk of it was transacted at one or two
sessions, the market generally being very
slow. today's sales being insignificant. the
usual Saturday dullness being much in
evidence.
The strength displayed in the stock list
during the week gave much satisfaction
to the holders OF securities. especially in
the case of Capital Traction shares, which
scored two-point advance to 81, with no
apparent pressure to market stock at the
advance.
Washington Railway and Electric
preferred made gain of = of a point
for the week, advancing to Sc, the
buying evidently absorbing offerings
reasonably well. The common stock
did not show on the sales record until
today, when n sale was made at 92A.
the highest figure since the reopening
of the exchange.
Mergenthalers gain was points,
Lanston BIZ points and Washington
Gas about 1saa. of a point.
In the bond list all the usual trading
issues showed positive strength.
Capitalization Statistics.
At the close of the fiscal year. Juno
80. 1914, the total capitalization. stocks
and bonds included. of all Canadian
railroads was S1,196,12s,070. while in
the same comparison the capitalization
of American railroads was s15,3So.131,-
446.
The capitalization Of the Canadian
railroads, per mile of road, stocks and
bonds. was s69,2s0. while American
railroads had a capitalization of $685.
SCI per mile.
Canadian railroads have larger
share of their capitalization in stocks
than the American railroads and
smaller proportion in bonds. In the
matter of earnings, American railroads,
with eight times the capital of Ca
madam railroads, had earning power
greater by thirteen times that Of the
Canadian roads.
The earnings for the fiscal year end
ed June 80. 1914. showed $S45,200,000 for
the American railroads. and $64, OF, 900
for the Canadian railroads. In 1914 for
the fiscal year, American railroads
earned 957.0o0.2O0 and Canadian rail-
roads. $74.700,000.
Commercial National Branch.
The branch of the Commercial Ma
tional Bank of this city, at Panama
City, is about the only bank doing BUSH
ness near the Canal Zone, all the build
ings of other banks having been de-
stroyed in the fire at Colon last night.
Financial Notes.
Trading on Wall street centers large
ly in stocks of corporations engaged in
the manufacture of munitions. to the
neglect of other industrials and also Of
the railroads.
The Steel Corporation. according to
the views of officials. will do larger
business in May than 1t did in April.
Disbursements for the month of May,
in the United States, are estimated by
Dow, Jones & Co. of New York. at
s125,oo0,00O as compared with s115,-
O0e, 900 Cor the same month in 1914.
The latest circular of the National
market unduly excited by war orders.
but asserts that the absorption OF
standard issues by investors is war
ranted by the outlook for better BUSH
ness.
Railroad earnings are beginning to
show some improvement. although the
comparisons now being made are with
months when the earnings were not
especially favorable. New York Central,
exclusive of its allied lines. in March.
earned within s17s.156 of the gross of
March, 1914; while the net. after taxes.
increased s326,450; Boston & Maine IN
the same comparison showed loss Of
but $4,000 in gross earnings, and a gain
of SCI, 900 in net: while the March gross
of all lines in the New York Central
system, as at present constituted.
a gain of $3s6.405, after taxes. in the
net.