Evening star., 1915-05-18
CAPITAL TRACTION STOCK
. THE MARKET LEADER
Price Advances to SO. Where 225
Shares Are Sold-P. 7. Dodge
Heads Graphophone Co.
Lanston May Profit on War Orders.
The Jitney Question-Bonds
Firm-Financial Notes.
BY I. A. FLEMING.

with another sharp advance IN the
price, this time TO 90. At that figure
2ca shares changed hands. This is the
highest price reached by the stock
since the reopening OF the exchange
and IA thirteen-point net advance from
the low record of the last thirty days
A small lot ten shares. sold at aSs4.
1t is reported that some rather large
lots of Capital Traction stock. that have
been considered as likely to be liqui-
dated around par. have been withdrawn
from sale with the recent development
of strength, which has also made a
much more comfortable margin back
of number of important loans on the
stock.
The rest of the list was rather quiet,
but with considera BILE strength in evi-
dence. Small sales of Railway com
mon were made at 80 and of the pre-
ierred at Si1.. both eN-dividend.
Washington Gas as sold at 100. ana
Capital Traction 5s were frmer at l0o.
Secretary McAdoo has added the name
of Robert y. Harper to the list OF
Washington bankers invited to attend
the Pan-American financial conference
Jitney Bus.
Crane, Paris & Co. in their May cir
cular. have this to say:
According to press reports Wash
ington is to have 4 real jitney bus line.
Every one is entitled to their own
views on the question, but those in
favor of experimenting with the jit-
ney. at the expense of the street rail-
ways and pedestrians, are in the class
clamorinS for better transportation
facilities and. in their opinion. the only
way TO secure these increased facili-
neys. Thus far the jitney has not
proved that it can exict on fve-cent
fare under rea soma BILE regulation. We
could quote reports from many cities.
but the following is indicative of how
uccesSfuf they have been, and yet
the street railway lines were the suf-
ferers:
Memphis Tenn.-About month a go
there were nearly GOO jtneys in oper-
alton. The legislature enacted a law
designating them :.s common carriers
and the city adopted regulatory ordi-
nances requiring indemnity bonds of
$1,000 per car. Only 14o bonds were
given and of this number seventy-fve
bonds have been Cancelled. at this
writing, owing to a violation of the
provisions under which the bonds were
issued.
AT meeting of one of our civic or
ganizations day or two ago the state
ment was made that the surety companies
were the principal people behind the move
to have the titney operators bonded. From
the cancellations in Memphis it would
seem that the statement is not borne out.
IF We have a jitney bus may we not
soon have jitney' light, heat, power
or telephoneservice? The public has its
money invested to the extent of twelve
and one-half billion dollars in public
utilities and represents a development of
the past fifty years. To keep up with the
constant demand for increased facilities
for American public utility corporations.
to cod q 49,
dred million dollars is expended every
year-this does not, however. include the
titneys,' we have been unable to locate
source which can supply an estimate
of how much is to be expended for i'm
provements to the jitney service. IF an
investment of twelve and half billions
OF dollars is not worthy of protection from
experiments, where can one turn to place
funds for the purpose of securing a fair
income. and a fair income only is what
large majority pay"
Those who would like to go into the
Jitney business would DO well to read
some interesting facts and statistics in
the report submitted by a special COM
nittse of the Oakland Cal, Chamber of
Commerce"
Heads Graphophone Company.
p T. Dodge. president of the Mersen-
thaler linotype Company. has been
CHOSEN as president OF the American
"raphophone Company. vice E D
Easton, who died week ago.
a new set of bylaws will be submit
ted to the shareholders for approval at
q special meeting to be held May "a
Ii Is probable that the board of di-
rectors VIII be reduced from seventeen,
as-at present constituted. to eleven.
War Orders for Lanston.
President ]. Maury Dove, at a recent
meeting of the shareholder. of the
Lanston Monotype Company, made the
statement that orders for special work
and been received
IL. 10 generally understood that the
orders were for war material OF an ex-
pensive and delicate character. which
promise a material increase in the pro-
hte OF the corporation The order is
SAID TO have been for goods valued at
100000, with Indications OF being in
creased TO sl.0eo.000.
Balance in General Fund.
The condition Of the United States
Treasury at the close OF business yes
ttrday was:
Net balance in general fund, .14.-
4i52s4
Total receipts. si.s13.o44
Total payments, s23i1440
The deficit this fiscal year is 500
s.1,21s. against a deficit of s40ssl ,5s4
last year. exclusive of Panama canal
and public debt transactions.
Branch Banks in Panama Citv
According 10 W. j. Price. American
minister at Panama City. contrac ct
has been concluded between the Pana-
ma government and the National CITY
Bank of New York for the establish
ment in Panama City OF branch 10
be known as the Banco de Panama
The contract gives the bank the right
10 issue paper money, making II the
and the legal coin Of the government
for national and municipal OBLIGATIONS.
but not specifically investing II with
the character OF legal tender for pri-
vate debts.
The Commercial National Bank Of
washington has a branch bank in
Panama City in temporary ouartera
pending tho completion Of modern
bank building Tho Canal Zone Bank
also 10 In operation.
Financial Notes.
President Ripley of the Atchison
Railroad Company is authority for the
statement that the company will earn
during the current fiscal year. approx
mately per cent on its outstandinR
stock. In 1914 the earnings were equal
to 1.3s per cent on the stock
Iron and steel exports for March. 1918
increased In value $4.500,o0o, as com
pared with the value Of the exports 70.
February.
avlN 10 oil