The Washington times., 1915-07-23
BANK STOCKS BID UP
0NLOCAL EXCHANGE
Days Trading Largely Confined
to Small Lots-Hibbs Re-
signs From Directorates.

With the exception Of the sale Of q
block Of $1,000 worth Of consolidated
per cent bonds Of the Potomac Electric
Power Company. which were disposed
Of at 100h. the trading at today's ses-
sion Of the Washington Stock Exchange
was confined to small lots of stock.
Several Of the bank stocks were bid
up rather sharply. A quotation lot of
National Capital Bank commanded 200.
and the buying broker, in an effort to
obtain ten shares more, advanced the
bid to 210. as compared with q bid of
1876 yesterday. but not finding any OF
the stock for sale at that figure estab-
lished the quotation bid at 200. This
was the first transaction In National
Capital stock for many months. -.
The bid for Federal National Bank
was run UP from 1877 to l4O, without a
sale resulting. after which that bid
was withdrawn and the quotation fixed
at l39.
Odd-lot sales OF Capital Traction.
at 30h and 30. respectively. but the best
bid for a quotation lot Of the stock was
SS11. as compared with S9h yesterday.
The other sales included 10 shares OF
shares OF Washington Railway and EIec-
Washington Gas at TN.
William II. Hibbs. banker ani brok- :
e.. has resigned from the director
ates OF all companies in whose secur-
tiles he Is called upon to execute
orders as a member Of the Washing >
Mr. Hibbs presented his resie nation
from the board Of the Washington
Railway and Electric Company and
its subsidiary organizations at q
Of ,hs 1sway Ss ass
time he sent a letter to the board OF
directors Of the Norfolk and Wash.
inHton Steamboat Company. with:
drawing from that body. which will
In explaining his action Mr.. Hibbs
todav said that he felt that both him
self and the companies on whose boards
he sat were at times embarrassed
through the fact that as a broker he Is
ties Of those corporations. To preclude
the possibility Of any comment which
might arise from this fact. ne deter
mined to sever his official connections
the companies in question, and with
their officials. he said continues most
several years ago Mr.. Hibbs with
ana trust companies with which p
had been connected as director. He
was prompted In that instance to take
| such action because OF the fact thai
| In his banking and brokerage business
the securities Of the institutions in aues
ton as collateral.
he directors Of the Washington Rail
way and Electric Company, In accept
| ing the resignation. adopted a resolution
Of regret at Mr.. Hibbs' withdrawal.
The company declared dividends Of
IN per cent on the preferred stock and
TX per cent on the common. payable
President Clearance p. King presented
report for the six months ended
earnings amounted to $2.s01.7s7.ss. Al
against $2.627.746.s0 in 1914. and ne
| earnings. with the miscellaneous incom,
and profit and loss items included
totaled $l.14l,4ss.24. an Increase OF
$26,127.ss over the previous year,
| The statement in full was as follows
ero.. earning. 'mi Is, .s.5ss.s IT, 81
! Operating expenses and :,
taxes ............-....'l,4o+. S3 II l,sS4 900 II
l.l474NN l.la.osl 81
Depreciation Of equip
ment 4S.oSz ~ SOWO u
Net earnings ...... l,loe ~. q I.Ios. os s
Miscellaneous income
and profit and loss
| Items .............. 6f,oIS II H. 200 .
Fixed es.,,.. is Il 8; = As's: II :ss z: 4
Net ,neom. ....,... Ns.54N ST. n, i
Dividends (preferred ana
| common) .....-...... Ao.UO % <Oo 100 o
| Balance ............ los, 2MH W,,7s 4
| Sinking fund ........... $3.50 % 4sl5s 81
Surplus ........... 1854 - 4s.1ls 4