Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-10-28
LOCAL SECURITIES
SHOW BETTERMENT
II
Declaration of Railway Oivi'
dend and Good Earnings
Brings improved Tone.

way and Electric Company did the ex-
pected yesterday in the declaration Of
the preferred dividend for the last six
months of the fiscal year. payable DE-
.cember l. TO shareholders of record
November IL. books rema lining closed
to November 3. The dividend rs ~
per cent. regular distribution
1t was generally understood that
such action would be taken: indeed, the
market for the stock gave the most
pronounced evidence in the affirmative.
While there are contingencies under
which the next preferred dividend
might not be paid. it seems perfectly
safe TO eliminate question as to the
payment under existing cireum-
stances The company is admittedly
making good earnings the loss
through damage suits and claims is
gradually and steadily decreasing. "A
fact Indicative of a more careful serv-
ice on the part of the motorm-n in
the employ of the company. Econo-
mics are being put in force and the
management seems satisfied with con-
ditionS "a existent.
stock Is Higher.
On today's session of the local ex-
change Railway preferred added ar
other half point TO its recent advance.
the shares selling at 55& to 551a
with Sc the asking price at the cose.
This gain was on top of the two-point
advance of Wednesday.
The per cent bonds of the rail-
way company made another sharp up
turn. They gained PA points yester-
day to 56Is and today turned to SIn
Another evidence of satisfaction
with the affairs of this corporation
was the show Of strength in Potomac
Electric Consolidated . per cent bonds.
They sold rather freely today at so.
The best bid as late as yesterday was
hut 1917. and they have sold below
this price.
The bid price for the common shares
was raised to 20 and Is asked.
Capital Traction shares showed fair
strength at S6h to 86E. while Wash
inston Gas was decidedly frmer. open
ing at 44%. with 125 shares selling
at A. later. 1t closed yesterday at
AN, after a lower opening.
Washington Gas 80 were steady at
7s
Echo Of Convention.
Practically every bank in the city
js receiving letters from banking
friends who were delegates to the
recent convention of the American
Bankers Association. all speaking. in
glowing terms of the excellent man
ner in which they were treated In TINS
city and the success of the convention
as whole.
A number of bankers are predicting
the getting together of the bankers
cn the proposition of allowing saw
ings banks to keep open for business
on Saturday nights. with the other
hours as scheduled.
Railroad EARNINGS.
Railroad earnings are being watch
ed very closely these days. in order
that effect of the added fre:g and
passenger rates may be analysed.
September reports of the Della
ware. Lackawanna and Western
show operating revenue Of $8.1S1.55S.
an increase of $1.S77.777. Operating
income. $ss4sso: an increase of $685.
534.
Philadelphia and Reading shows
$s.512.293 operating revenue for Sep
TENDER an increase of $1.551.3SS. and
operating income OF $ss4.o85. de-
crease Of $l.4SS.
!. Southern Railway system for the
' third week in October showed earn
inEs of S4.344,479. an increase of
$S69.3eI. From March /. earnings in
creased $20.oss.373.
Mobile and Ohio. third week in Octo-
Der. $45.213; from March l. increase
Kansas City Southern for September.
gross, $2,37s.1os. increase of S899,105;
nine months net. after taxes. increase.
sS29.954.
Late Dividend.
LigFett and Meyers Tobacco Com
pany has declared the regular divi-
bends of per cent on common and
common B stocks. payable December l.
to shareholders of November Is.
Southern Pipe Lipe declared 81 a
share regular quarterly dividend. pay
able December J., to stockholders OF
November Is.
Books Opeaed-Closed.
- Kuhn, Loeb & CD. opened. books this
morning for subscriptions to $50 .0e0.-
Hoewestinghouse Electric and Manu-
featuring Company per cent gold
bonds due May 1. 1891. and before
10 O'Clock announced the closing OF
the books The investing public
seems ready to finance any amount at
Z per cent.