Evening star., 1917-01-02
CAPITAL TRACTION Co.
ENJOYED A GOOD YEAR
President Hamilton Reports Larger
Receipts and an Agreement In
Matter of Physical Valuation.
Controller Makes Sixth "Call' for
1916-Banks Lose Deposits.
Good Demand for Bonds.
BY-I. A. FLEMING.

BY-I. A. FLEMING.
George E. Hamilton. president of the
Capital Traction Company. extends
greetings to the shareholders of the
company in the form of assurance that
"the receipts of 1916 will show a sub
stantial increase over those of 1915"
and further felicitates them on the fact
that an agreement on the physical
valuation of the properties of the COM
pany has been reached between the
Capital Traction Company and the
public utilities commission.
President Hamilton's circular fol-
lews:
ITO the stockholders of the Capital
Traction Company:
THE report-to the stockholders for
the year 1916 will show a substantial
gain in receipts over 1915, and because
of the fact that this report will be
made in the early part of 1917. we
. wilt not, at this time. enter into any
detailed communication. but will con-
. tent ourselves with an expression of
qualification at the progress in valua-
tiou proceedings now pending.
''On some of the items of reproduction
costs the conclusions of the engineers
of the commission and of the company
were so near together that an agree
TO the company and to the commission.
was reached and expressed in an agree
ment Incorporated into the record of the
hearing on December IL. 1916. While
this agreement covers items only in the
amount Of S10.969.,214. and leaves other
and large items to be included in the
cost or reproduction as well as impor-
rant items and elements to be included
in the determination of the present fair
value of the company's property. we find
, in this condition of agreement a gratify>
ing evidence of the fairness of the val
uation work done by both the company
and the commission. and this strength
/. ems US IN the belief heretofore expressed
that, the stockholders need have no fear
Of the integrity of their investment as
the result of the investigation now being
made
Bank s'Call' Made.
The sixth call" of the year 1916 ena-
mated from the office Of the controller
of the currency this morning. asking
for a statement of the conditions Of
banks that are members of the federal
reserve system. and in this city of all
fiscal institutions. as at the close of
business, December 81. 1916.
Indications from preliminary reports
are that the deposits Of the local in
sstitutions will show a loss. This is
/. is~ons of spending and not of saving,
one when eaccumulations are disbursed.
Mucn Of the money and coin given away
has naturally found its way back into
sfhe banks. but the enormous disburse-
pents for January ! were still in the
banks and trust companies to the credit
OF the banks and corporations.
Today the banks were just as busy
as they could be; crowds filled the
sfoyerss and tefIers were given no rest
slCcentiuR deDOSitS
= over a million dollars was taken in
at the banks from local dividend and
interest payments. and in addition
large deposits were made to the credit
of investors in outside securities.
Most Of the national banks will show
- loss betweep November II and De-
esmber -, while number of the
trust companies show small gains. This
7. may be due to the fact that the ma
,,tional banks have paid shack to the
Treasury about 100000 tax money in
The interim between the two latest calls
=. The Commercial National Bank made
phenomenal gain Of $305.o0o; the,
Federal National also made a good
gain nstctaling.$s&5eo. These were the
only national banks reporting this
stion~i Metropolitan lost 5s2G5 .ooo;- the
District s-Nafional S95,000 and the
Franklin National $4,000. The Conti'
s mental Trust Company lost $23s. ESQ: the
National Savings and Trust gained S1S,-
600: the American Security and Trust.
.Sc7 900. and the Union Trust Company
made gain of $4,000.
Warrington Market Election.
stsckholders of the Washington Mar.
ket Company held their annual meeting
yesterday. @Eafnings of the year were
! made public to the shareholders present
and the old directors were reelected.
with the exception of George w. Gray
and A "A. Birney. who were succeeded by
William B. Thompson and A. P. Clark, jr
. Local Security Market.
IN its new quarters this noon. with a
larger attendance of members than for
many months. perhaps years. About
twenty-six business men were present,
including several prominent bankers who
have not been on the floor of the ex-
change for many days.
In the matter Of trading there was
decided Improvement. probably incident
to the reinvestment Of January dis
bursements. In all over $14 900 worth
Of bopds. face. value changed hands.
the prices indicating good strength.
Washington Gas SIS sold at 101, George
TOWN Gas certificates at 1851. Railway
~ at So for small bond and S1@s for
round lots. Potomac first IS brought
Jos and the Consolidated SIS 101% and
19fx; Graphophone 6s sold at @1k
and Norfolk and Washington Steam
boat SIS at 1854.
In the stock list Capital Traction was
firmer, some investment demand ad-
vancing the price to s3h; Mergenthaler
was strong at 1854 to 169. while
Washington Loan and Trust Company
stock sold at 232k.
Elected q Member.
L. b, Mclean was today elected a
member of the Washington Stock
Exchange.
Reports on Banks Called For.
The controller OF the currency today
issued a call for the condition of all