Evening star., 1918-10-23
RE. Boiling MAY HEAD
/. COMMERCIAL NATIONAL
BY I. A. FLEMING.

A well defined and apparently au-
thentic rumor was circulated in the
financial district this morning to the
effect that R. E. Boiling would be
elected president Of the Commercial
directors Of that institution to be
held tomorrow afternoon.
Frank P. Harman. the present
president! is said to be slated for the
position of chairman of the board Of
directors. He is the largest individ-
ual shareholder in the bank. and the
change. as suggested. is said to meet
with his approval, as the presiden-
tial duties require too close personal
attention.
r. E. Boiling is one Of the well
known financiers of New York, hold
ing the position of vice president Of
one of the big institutions OF the
chief city. He was in this city last
week in conference with the direc--
tors of the Commercial National
Bank, and returned again yesterday.
He has strong New York connections.
Since the retirement Of Tucker K:
Sands. as cashier and vice president
of the bank, the executive work OF
the institution has been divided by
F. P. Harman, president, and James
A Cahill, vice president, and the ad-
vent of a new working official Will
be a welcome addition to the execu-
tive force.
Railroad Earnings Improve.
Attention is called to the fact that
August railroad earnings are show
Sr0 10
ing largely absorbed the big increase
in back-pay wages in their operating
expenses" and seem now to be on the
highway of recovery.
In May the big wage increase,
retroactive, was granted. Six months
back pay were charged to operating
expenses in June and July, and Rock
Island Erie and Great Northern had
to carry over charges to August.
August earnings show very large
increase in comparison with q year
ago. Union Pacific. c. & O.. Boston
doubled their net after taxes.
On the basis of earnings the roads
are not far from self.sustaining and
the railroad administration has
promised that the properties shall
be maintained at best efficiency.
of rails after the war will not be
any less than now.
August, 1918, net after taxes, COM
pared with August, 1917, net after
taxes, as follows: Atchison, % per
cent gain; Boston and Maine, 9S per
cent; Chesapeake and Ohio, so per
cent; Louisville and Nashville, 46 per
cent; Norfolk and Western, A per
cent: Great Northern, % per GENT;
Southern railway. As per cent; Union
Pacific, so per cent.
On the Local Stock Market.
Capital Traction shares sold on today's
session of the local stock exchange at
ssh, some improvement over recent
There was a decided improvement in
the market for bonds, Potomac Elec-
morta gage IS of the same company at
93k.
Capital Traction S. sold at 81 Ameri-
can Graphophone IS sold at 90Z to 81.
Dividend Declared.
National Savings and Trust Com
pany directors have declared the regu-
lar 2A per cent dividend, payable
November 1, to shareholders of record
at the close of business today.
Eliminated From List.
The Washington Stock Exchange has
eliminated from it's security list the
stock and bonds of the United States
Realty Company of Washington and
the stock of the Great Falls and Old
Dominion Railway Company.
These issues have not appeared on
the sales record for many months.