Evening star., 1921-03-30
TRACTION SHARES
RECOVER DIVIDEND
Bonds Firm-A. B. A. to
Study Conditions-A. T.
&T. 9 Per Cent Stock.
BY I. A. FLEMING.


Business was better on today's ses-
sion of the local stock exchange. Cap
ital Traction shares were back to the
high record Of the year to date. IS.
having completely recovered the divi-
dend, in so far as the stock lost IT..
The recovery evidences the faith of
the investing public in the ability OF
the company to maintain rates and
in the management.
Capital Traction 5s were quite ac-
tive at s6A to strong close at 81.
There were no transactions in the
stock of the Washington Railway and
Electric Company. but the per cent
bonds sold quite freely and at the top
price of the year. 59A.
Washington Gas; 431a. with but
light sales.
Union Trust shares brought 1913. and
a single share of Continental Trust
was reported at 101.
Odd lots Of Lanston changed hands
at 73.
sold at 10O%.. the first shading on this
security.
To Make study OF Conditions.
The American Bankers Association
announces that it is now conducting
under the supervision OF John 3
Drum. it's president. assisted by lts
secretaries and executive council. an
extensive and exhaustive study OF
conditions in the United States in a
business way.
| 1t is believed by officials of the or
ganization that Information OF an
economic character may be better OBJ
| n,,I h.l L c
than from any other source.
Grnphophone Meeting.
At the annual meeting of the Co
lumbia Graphophone Company the old
board of directors was reelected.
regular meeting of the board. No
comment for publication on condi-
Railway Company; W. c. Duvali anu
On 0 Per Cent Basis.
Directors of the American Tele-
phone and Telegraph Company have
authorized their president to make
public their decision to place the
stock Of the company on regular
8 per cent annual dividend basis be-
ginning with the dividend payable
July IS, 1921.
The change in the rate. according
to H. B. Thayer president of the
company, Is nothihS moTe tHdH al
adjustment to meet new set OF
conditions
1T has always been the policy of
the company" said Mr.. Thayer. "to
pay such a dividend as would main
tain the market value of the stock
at a premium sufficient to attract sub
scription to new stock issues The
issue OF a fair proportion Of new capi-
tai rather than increase OF debt to
take care of growth is a necessary
part Of any sound financial policy"
G. c. MfIburn Funeral.
The funeral this afternoon of c. C.
ington and member of the Wash
ington Stock Exchange. was attended
by a committee of the latter organiza- :
tion named by Eugene F.. Thompson.
president of the exchange, consist
ing of A. X. Paris. John l.. Edwards
and r. f. Claughton.
Wall street Notes.
Average number of idle freight ca RS
for the week ended March Is. 424,409,
an increase of 1851 ears. Coal and
refrigerator cars make up the great
or part OF TIE increase. Idle cars
"a rch ! totatcd if2,a0t.
The government still owes tho rail-
roads s275, 900, 900 to $500. .00O, 900, and
many railroad officials have been in
Washington endeavor!ng 10 make
collections.
I'iske Rubber Company earned S16S
2 share on the common stock in 1920.
This compares with $500 a share
ca rnc1 in 1919.
sharon steel works have curtailed
production until about 1900 men are
affected. wholly or partially idle.
New York stores report larger
volume of retail business. with lower
prices prevalent, for the month of
February.
February groEs earnings of the
Canadian Pacific system, $l2,16S9s7.
while the net. after expenses. was but
S813,392, about 100000 greater than
for the same month in 1919.
South Penn Oil reports earnings of
the company for 1920 us follows:
Gross, s. !.s29.40l net. s5.4Sa,591:
sCrplus, after dividends, $1,4S9,591;
aided t. previous surplus equals sur
plus, Si624I.57S. In 1919 there was
NJ surplus.
During the twelve weeks ended with
March - the seventy-nine members
of the Employers Association Of De-
troit have added 51,o6S names to their
pay rolls.
Much interest is expressed in the
next dividend on Rubber common. II
would not be surprising il there.
should be cut from the 8 per CEN,
rate paid on the last declaration.
Net earnings on Southern Phosphat te
Company for 1890. $2.66 share on
the outstanding stock.
Telephone earnings of four
companies reporting to the I. c. c.
Show an increase for Decemhar 1Q1O