Evening star., 1916-09-27
lCT|VE TRADING ON
LOCAL STOCK MARKET
nds Favored, With All Issues
Strong-U. S. Registered IS
Sold at 100la.
Washington Gas Was Rather Soft,
Breaking to 7O-Budget of
Financial News.
BY I. A. FLEMING.


BY I. A. FLEMING.
There was a big, broad market on
the local exchange today. compara
lively speaking, with large amounts
of bonds and a moderate business in
stocks.
One sale that attracted attention in
the bond list was of $4,000 United
States Registered IS, at 1001a. Capital
Traction IS still stay around 10TA,
while the Washington Gas 5s sell at
107 Railway As were firmer at S1@4
. and So Potomac Consolidated SIS
brought 101ls and Graphophone 6s sold
at 1011s and 1015s. the outside slight
Improvement.
Washington Cas- which showed a de-
clining trend on the liquidation of 100
shares in lots at 11A to 20, with
q. closing at I01s
American Graphophone shares were
strong on advances in other markets,
the common selling to 1S9 and the pre-
ferred to 1s1.
-, A fair trade was recorded in Capital
Traction at So and in Railway pre-
ferred at S1a.
Mergenthaler sold at 100
- Dividend Declared.
:. The directors of the National Bank
of Washington have declared the usual
regular quarterly dividend of per cent,
payable October 2, books closing Septem-
Der 27.
~ ;, Rehearing Day Set.
Annlicants for rehearinp of their
= applications to hold dual positions as
the federal reserve board to present
. their evidence October 3.
Traction Corporations Earnings.
1T is understood that the year 1915
WILL mark decided increase in the gross
. earnings of both the Capital Traction
Company and the Washington Railway
and Electric Company
It is possible that the strike on the
street railway lines will cut down the
met earnings somewhat, although the
gross: are understood to have increased
even during that period-a few days
/. Then. too. the litigation with the public
utilities commission in contesting val
Nations may make some reductions in
net. but the gross increase has been
sufficient. with three months to be
counted. practically to insure equal if
l,not better, net than last year Gross
warnings are understood to be between
s,3T19 900 and $125.000 on each of the
local traction systems, greater than for
1915 to. date.
The Washington Gas Light Company
s.wm show nearly as large returns. or
JpoSsibly larger earnings, despite the
,. lower returns on gas consumed during
..s:ths last three months of the year.
= Pecomac Electric Company has.added
many new customers.
10 tFhe hotels of the city have had their
best year for some time past and the
s.utlities have shared in the better
'iment...
:: Southern Pacific Year.
was the second best year for earnings
in the history of the Southern Pacific
. .scompany. The net earnings were equal
: to- 1923 per cent compared with 7.20
: per cent for the previous year.
=; The surplus available for dividends,
, s2S.950.41S, is the highest. save in 1910
when IL per cent was earned, includ-
!, ing distribution CT s4.500.000 of Wells
: Fargo stock.
i Gross earnings for the fiscal year
i.ended June 80, 1916, were 1853 per
Scent greater than for the previous fis-
gal year. and the net increased. in the
same comparison, 3503 per cent.
Southern Railway Earnings.
Southern Railway company's gross
ca rnfngs for the third week in Sep
tember increased s16S,706. as compared
with the same week a year ago. From
July l to September 81. inclusive, the
increase in gross earnings was 81, ,695. :
U3s, or 11.59 per cent, as compared
with the earnings of the same period
OF the last fiscal year.
-. = a. General Motors.
~ Shares Of the General Motors Com
pany advanced 121z points on Wall
street this morning, spectators evil
2 IDENTITY considering the modern fnanc-
ing method of capitalizing surplus
p and the formation of a new company
: with $4,000. 900 common stock and s20,-
900 preferred. instead of the pres
Hent capital of $4,000, 900 common and
$14,0oo.00o preferred. as a good move.
> For the fiscal year ended July 80, the
corporation reported 1852 per cent
-ea Yned on its common stock, compared
: With s1.2 per cent earned the previous
year.
Will Assess Erie.
The rehabilitation plan for the
Wheeling and Lake Erie system calls
for an assessment of s27 share on
all classes of stock.
Big Munition Profits.
The r. w. Bliss Company has declared
a dividend of 100 per cent on the COM
mon stock. or $50 a share, the par
value. making 200 per cent dividends
paid so far this year.
In addition the regular dividends on
both common and preferred were de-
ciared.
Making Leather Substitutes.
The Du Pont Powder Company has
iIau2urated the manufacture of
fabrikoid, leather substitute, using
ions of cotton cloth daily and produc-
iag more than $4,000 standard yards a
y Soluble cotton. treated at Hope
weI,. Va, is used in the production of
sahrikoid.
Condition of the Treasury.
cnpditiop of he I-nited