Evening star., 1916-09-29
EASIER TREND Shown
|NPUbHC UTILITIES
Capital Traction Shares Sold at
81 3.4 and 81 7-8-Bid Price on
Washington Gas, SO.
Mergenthaler Firmer-Railroads
Continue to Make Increases in
Gross and Net Earnings.
BY I. A. FLEMING.

BY 1. A. FLEMING.
Business quieted down to very narrow
channels on the local stock exchange
today All week there has been good
demand for bonds at well sustained
prices and with good sales Today but
one bond trade was recorded, $1,000
Potomac Consolidated 5s at 101b.
The stock sales. while they were
rather important as indicating little
easier trend in values of public utili-
ties and better tone in the senior
typesetter, were not large. Capital
Traction sold to the extent of twenty
shares at Sis and 81 y; Railway pre-
ferred slow, ten shares selling at 81 u
Mergenthaler sold to the extent of
twenty-five shares at 161 and 161A.
The closing prices were at S11 bid and
S21s asked for Capital Traction and 50 bid
and II asked for Washington Gas.
Commercial National Dividend.
Directors of the Commercial National
Bank have declared the regular divi-
dend for the current quarter.
Southern Railway Earnings.
Southern railway earnings continue
to show remarkable increases in gross.
For the month of August the gross
earnings totaled s6,496,71o.53. an in
crease of s1,099.001.31 as compared
with the gross for the same month of
the last year. gain of 20.36 per cent.
Net earnings for August were, after
tax taxes and operating expenses; ,n @ $l,s4s.-
202.67, an increase of S513,69749 over
the net of August, 1915, more than
$3.50 per cent gain.
For the two months of the fiscal year
ended with August gross revenues
$1,2S0,S19.S1, or 11.s7 per cent, while
the net for the two months, s3,337,-
O3014, was s430,66s.s7 greater than for
the same months of the previous fiscal
year, or 15.4 per cent.
Retiring From Directories. -
Tucker K. Sands. vice president of
and cashier of the Commercial National
Bank. has resigned or will resign from
thetboards of directors of the Du Pont
National Bank. the Merchants Bank
and the Union Savings Company. Other
officers of the same bank will retire
from all directories except the Com
mercial board.
Wabash Rehabilitation.
The Wabash Railroad Company for
the eight months ended with August
81 earned all charges, sinking fund
appropriations and 6.42 per cent in ad-
dition. sufficient to have declared the
regular per cent dividend on the A
preferred.
August was a record month in the
revenue of the company SO far as gross
earnings were concerned. revenues to-
falling $3.249.000. or a gain of $436,00o,
as compared with the total revenue of
the same month in 1915. Income avail
able for fixed charges increased 24.S
The directors are putting available
funds into new equipment, and man
aging the property conservatively, so
that dividends are not likely to be re-
sumed this year.
Increasing Railroad Earnings.
Like reports are coming in from the
various railroad corporations for the
two months of the fiscal year ended
with August and for the weeks of
September show remarkable increases
somewhat sensational They are ex-
ceeding the comparisons of previous
months right along. in a manner that
suggests increased dividends in the
near future.
Some of the companies are still
reporting Tor the fiscal year ended with
June 80, and almost without exception
the story is one of great earnings
Southern Pacific showed an increase
in gross revenue for the month of Au-
gust of over s3,2O0.000 Chicago and
Northwestern increased its gross revenue
Ior the same Year by over $40,
100000: Reading added $1,o5o.O00 to its
surplus as a result of last years earn
1ngs; Union Pacific and St Paul showed
increase enormously, and increased
dividends are promised.
Deposits the large earnings, the rails
are the slowest moving stocks on Wall
street The public has gone wild on
speculation. not investment. and the
industrials offer the advantage OF lary-
e. fluctuations and more opportunities
TO Set in and get out.
The big earnings will appeal to con-
-. vative men, and turn activity in the
ci--c.icn of the rails. but proba bly, not
be fore the collapse of the speculative
boom. which today has spread all over
fnc market.
Condition of the Treasury.
The condition Of the United States
Treasury at the close of business yes
te-day was:
Net balance in general fund, $751;
s57.575.
Total ordinary receipts. $2,237.02S.
Total ordinary payments, 32,120,027.
15o.3sl. against deficit of s32, 6,202
last year, exclusive of Panama canal
and public debt transactions.
R1Iil6inr Parroitc