Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-07-01
CAPITAL TRACTION CO.
DOING GOOD BUSINESS
President Hamilton Says Surplus
Was Increased During Last Six
Months Operations.
Reiterates Denial Of Even Consider
alton to Merger Matters-Local
Bonds Were Fractionally Lower.
BY I. A. FLEMING.

In compliance with a promise recently
made by George E. Hamilton. president
of the Capital Traction Company, to keep
shareholders informed from time to time
as to the business Of the corporation, a
circular under date Of July l was sent out
yesterday and received by shareholders
this morning.
Mr.. Hamilton reiterates his denial, for
himself and his fellow-oficers and d.
rectors. Of any negotiations looking to a
merger Of local street railways.
Shareholders are informed that the first
six months of 1915 has been sufficiently
prosperous to enable the company not
only to maintain dividends but to add
substantially to the surplus OF the
corporation.
Mr.. Hamilton's circular follows:
ITO the Stockholders of the Capital
Traction Company:
For the first six months of the year
1915 your company has from car earn
ings paid all operating expenses. in
GLIDING fixed charges and taxes: main
tanned its standard of good service:
continued its monthly additions to its
depreciation fund; paid to its stock
holders for quarters ending March 1
and July 1 dividends at the rate of 5
per cent per annum. and added sub
stantially to it's surplus.
eral business depression which al
ways materially lessons street railway
traffic. the increasing individual use of
automobiles and the advent of the jit-
ney bus lines. permitted to operate
comparatively on streets common
carriers. without. however. being reg
ulated as such. 1t Is submitted that the
results shown for the half year end
ing July l are a source of present graf
if1cation and of encouragement for the
future.
Doubtless you have seen 1t stated in
the public press that a merger or con-
solidation OF the street railways of
this city was being considered by the
railways and the public utilities COM
mission. and doubtless you have seen
by their published denials that the al
legged parties in interest had no know
edge of any such purpose or of its con-
sideration.
Il take this opportunity to reiterate
to the stockholders the statement made
by me through the press on June Is,
that the Capital Traction Company, it's
officers and directors, have no knowl-
edge whatever of any such negotia-
tons"
Local Securities.
There was no particular change in the
Washington securities market today
save fractional shading of bond prices.
all sales made Indicating a loss of u
of point. Sales were at los y for Cap
ital Traction 5s. 104H for Washington
Gas SIS and 1905 for Potomac Electric
consolidated 5s.
In the stock list utilities were neg
lected and only few miscellaneous
shares changed hands. Lanston sold at
60 and Lincoln National Bank appeared
on the sales sheet at $50.
Bids for utilities were as follows:
Capital Traction. SO; Railway common.
SO. and Railway preferred. s3A. with
- bid for Washington Gas.
Financial Notes.
The governors of the New York
Stock Exchange have declined to adj
journ the regular session of Saturday.
as asked to do by petition of a ma
jority of members.
Trunk lines. with steamboats, oper-
ating on the great lakes, expect to
There are ffty-four freight steamers
of large size on the great lakes, but
twenty-three will remain in service.
the others becoming ocean goers. coast
wise traders. etc.
Pennsylvania lines for May showed
an increase in net earnings as COM
pared with the net of the same month
in 1914. by $4,000. New York Central
lines. in the same comparison. increased
s2.s27.ooo: Fries gross earnings; in
The average price for the ST.. 200. 900
New York city ~ per cent stock was
101.272.
Dividend.
The directors of the Firemen's In
surance Company have declared a divi-
dend of per cent for the current quar-
ter. payable July 2, books now being
closed.
Director Elected.
L. W. Estes has been elected a direc-
tor of the Columbia National Bank to
fill vacancy.