Evening star., 1915-04-05
STRONG TONE IS SHOWN
IN LOCAL SECURITIES
Stocks and Bonds Are Bought by In
vestors at Well Maintained
Prices.
Pamphlet Report of Washington
Railway Company Issued-Facts
and Figures,
BY I. A. FLEMING.

There was a good business, both in
stocks and bonds, on the Washington
Stock Exchange this afternoon. with a
fair show of strength az to prices and
rather liberal selling heing we'll alb
sorbed. The wonderful strength devel-
oped on Wall street may be having
some effect in this market, and espe-
cially' with investors who are apparent
ly of the opinion that there is sonle
thing more than speculation in the ad-
vancing prices.
In the stock list Washington Railway
and Electric shares. both common and
preferred. moved freely. the former adj
vancing at first from SSH to SS1:
then off to IS and back to 8s1s. The
preferred was steady. all offered being
taken at 81.
One sale of Washington Gas was
made at 1a, with more offered at the
same price.
In the bond list Capital Traction 5s
sold at 104. Potomac Consolidated SIS
at 100A, Riggs Realty 5s. long term
maturity, 1011s, and n small amout of
Norfolk and Washington Steamboat 6s
at 105A.
Tomorrow afternoon the stock ex-
change will take some action on the
matter of abolishing or further reduc-
ing minimum prices. There is con-
siderable feeling on the matter but
the chances are that there win be a
reduction in the minimums on three
stocks. and a removal Of other price
limits, as they are not needed, the Of
ferings being limited and the dema nd
about equal to the supply.
Washington Railway Report.
The pamphlet report Of the Wash
for the year 1914 reached the share
f.f- kr,
exhaustive. giving in detail the story
Of the years operations. financing and
other matters.
Gross earnings from operations were
s5,04S,435. an increase OF. $105,120 over
the returns from operations Of 1913;
the miscellaneous income increased
323,688 over the returns of 1913, max
ing a gross income of $5,082,32o, an In
crease over the returns Of 1913 Of $685.
788. Operating expenses increased
s1s3,764 and the surplus income de-
creased, as compared with that Of 1913.
3115,1l7. After fixed charges there was
a surplus income of $1.o41.479.
The disposition Of this amount was az
to motormen, si5.527: depreciation
charges OF railway company s7s.57i
less amount charged through operat-
sf & in snkns ast fund sa
Electric Power Company. sss.s2o; bad
debts, Potomac Electric Company,
$1,706 miscellaneous items. railway
company, net. $6.15z. leaving credit to
profit and loss Of s10.772.
Net expenditures BY the railway COM
panies composing the system for addi
tions extensions and equipment, charge
able to construction account. $129.242;
for the Potomac Electric Power Com
pany, 3265.012.
For the FIVE years ending with 1914.
the companies in the system have ex-
pended and charged OF for maintenance
and depreciation. s3.S45.4os.
Financial.
During the year s1.G0O.0OO Consoli-
dated 4s Of the Washington Railway
Company were issued and sold to re-
deem 100000 Columbia Railroad 6s
and $50o.oo0 Columbia Railroad 6s.
The discount on the bonds sold was
5000. 900. which is being amortised by
monthly charges to income account
during the life Of the bonds.
During the year $515. 900 Consolidated
4s Of the Washington Railway Com
pany were sold. as well as $500. 900 Po-
tomac Electric Consolidated SIS. that
were in the treasury at tho beginning
Of the year.
Bonded debt of all corporations in
the Washington Railway. and Electric
the latter. $48o,000; held by investors.
etc. $8,77o,000.
OF the stock of subsidiary companies
the Washington Railway and Electric
Company owns $s,3o7.360 all but
Treasury Receipts and Disbursements
The daily statement Of the United
States Treasury. dated April 2. shows
the following items:
"Other securities deposited to secure
circulation April 1 to the value Of 314.-
74S,345, a decrease of $40s.35o.
National bank notes outstanding de-
creased from 3sSS.547.98o to $S97.7b8, ,025
Disbursements exceeded receipts for
the day of April by $544.737. tncreas-
ing the excess of disbursements for the
fiscal year 1915 to this date to 31l5. 175,-
S4S, as compared with 3S6.97S.8ss.69 ex-
cess disbursements for the fiscal year
1914 to the correspondent date.
The excess Of payments over receipts
for the day Of April in the ssnsrAl
fund was 382.Sss.3s. leaving q net bal
ance Of $31,o1s,2s3.ss. 4,
Rounds Half Million Shares.
Trading rounded the half million
share mark during the mid-season,
with vet higher Drices for some Of fhA