Evening star., 1916-04-30

There is a growing feeling in Sc
curity circles in favor Of keeping the
stock books of corporations open for
the transfer of stock at all times. 1t is
felt that it is not necessary to actual
ly close corporation books for days and
even weeks pending the payment OF a
dividend or the holding of an election.
Many stockholders have complained
of the inconvenience OF being forced to
await the opening of the books for the
transfer of certificates and for the
be.
The Bank of Washington is one of
the very few local corporations that
keep their books open right along.
never closing for dividend payment.
and it is a million dollar capital bank.
There might be some trouble in the
case Of some of the great corporations.
but the matter ought at the longest to
be a matter of day or two.
All things that will facilitate the
transfer of securities are desirable to
the investing public and a convenience
to stockholders and fiscal agents
Local Securities.
There is encouragement in the local
stock situation through the develop
ment of new strength in Capital Trac-
tion stock during the past week. Hold
ers seem to be imbued with more con-
fidence and have not been tempted by
the advance to S6h bid to sell their
stock. The passing of the jitneys has
been the cause of considerable increase
in the number of passengers Capital
Traction is carrying, as they had xeally
hurt this line more than the Washing
ton Railway and Electric. That buga-
boo of 1914 and 1915 has passed, up
keep, replacement and other charges
with regulation of routes and time of
operating having killed on this COM
petition.
Washington Gas stock is not acting
as we'll as 1t should on earnings. The
street believes the suit on the holdings
of Georgetown Gas shares will be de-
cided one of these days, and until it
has been eliminated as factor by a
decision the stock will give small re-
sponse to good earnings.
Inside information is favorable to
Mergenthaler, yet the stock is weak on
the promise of competition between
Lanston and the Intertype Company,
the latter just replaced on its feet.
Bonds are in splendid demand and
salable readily and easily at high
This week further information is
likely to develop regarding Lanston
Monotype.
The Washington market was never
more narrow than just at this time. yet
in the aggregate a fair record is made
in trading, and when the unsettled
matters have been attended to it is
likely that many of the shares will be
attractive to investors again.
Success of Public Service Corpora
tions.
AS rule the success of public serv-
ice corporations. furnishers to the gem
eral public of transportation. light and
power, have enjoyed a degree of pros
perity greater than ever before in their
history.
Statistics compiled by the Financial
World indicate that. 275 of these cor
1915 over 1914 by S48.S9S.491. or 5.45
per cent. and gained 10.5 per cent over
1873 showing. Gross earnings were
S945. .060,532 for these 275 corporations
for 1915. These corporations increased
their surplus after 1915 operations by
$15.137,862 and decreased their divi-
dends 2.10 per cent from the 1915 dis
ayers did not believe in resuming divi-
dends so soon after jitney troubles
ended
Never were the bonds of public serv-
ice corporations in better demand. OF
this we have an evidence in Washing
ital Traction 5s are practically strong
at 107. With the exception of the COM :
paratively small issue of Georgetown
Gas 5s there has been no enlargement
of securities of public service corpora =
tions in Washington-and only $685.