Evening star., 1921-04-05
HOPE TO MAINTAIN
HRcENT DIVIDEND
capitaf Fraction President
Writes to His Shareholders.
/ Want Tax Deposits.
BY A. FLEMING.


IN the Capital Traction Company fol
the first quarter of the year and the
1880 quarterly payment by the com
pany. shareholders received a circular
letter from George w. Hamilton
president of the corporation.
( The president called attention tc
the increased earnings received by the
company during the last two years
the result of the higher rate of fare
ordered by the Public Utilities Com
m mission, and said that they had ena.
bled the corporation TO write of losses
of previous years. dug to the enforced
retirement of single-truck cars. the
Wrie off amounting in all to about
$SO0!00d.
The details of these transactions
have" said Mr. Hamilton, 'beeI
known to you through the annual re-
ports for the two years named. This
being accomplished. with net earnings
adequate for the purpose, your direc-
tors declared the dividend for the first
quarter of the year at the rate of
Per cent per annum, instead OF pei
cent. as heretofore.
'1f. as we hope. the present favor
able earnings are maintained. divi-
dendS at the rate of per cent will be
continued.
I'VE are pleased to report that f.
nancial and operating conditions are
satisfactory"
Holders of Capital Traction shares
will unquestionabiy be pleased with
the announcement offered in Mr.
Hamilton's assurance on affairs with
the corporation. Many other share
holders in various corporations would
be pleased for little assurance from
the management
To seek Tax Money.
At a meeting of the Clearing House
Association. held yesterday afternoon
w. T. GaIliher. president of the Ameri-
can National Bank was appointed a
committee of one to wait on Secre-
tary Mellon, with a view of securing
q redeposit of tax money in the banks
of the District.
For some years this has been the task
allotted to Mr.. Galliher and he has al
ways been successful up to the last re-
quest. when he was turned down. the
needs of the government being too ur-
gent to permit of placing 81 900. 900 with
the banks. to be Withdrawn in INSTALL
ments
Bankers believe that they will be
given more generous consideration
this. year,
Railway preferred touched so again
today. the high record for the year
1921 to date. An early transaction
was made at S9h.
The general list was decidedly slow.
with Traction IS firm at s7h and the
stock of the same corporation selling
at S8.
LanstoH was a little easier, at 72h
and 75A
The Lanston meeting will not be
held for some time. The earnings
for the year 1920 will not show under
26 per cent net and not over % per
cent In view of the big earnings
there Fave been some inquiries as to
the possibility of an extra dividend.
The chances for any such action are
SMALL. as the policy Of the well man.
aged corporation Of the day is to keep
strong in cash resources and mod
crate in dividends until the return
OF normal timea
Working ON Big Corporations.
Announcement is made by John Nc
Hugh, on behalf of the committee on
organization OF the Foreign Trade
F'inaDcfng Corporation that the work
of developing this nationwide orGaniza-
tion.to maintain and increase Americas
foreign trade On the soundest business
principles 10 being carried ON without
interruption and with gratifying evil
dAncse Of support from many parts Of
IL country.
zin view Of present business and agri-
cnkutl conditions, the improvement
Of which is so Importantly dependent
on foreign outlets for our manufactures.
raW SnHatefiais and produces, there is
occasion for redoublfng effort. according
to the announcement by Mr.. McHuxh.
for fnA formation Of the corporation.
The appointment OF the corpora
tons committee on policy. Mr. Nc
HDgh states. is a distinct step in
advance. to facilitate the formation
Of the corporation and ths undertake
ing Of its essential task with appro-
prfafe~capitaf At the appropriate time.
The committee on policy consists
Of Levi L.. Rue OF Ph.iadeiphia- Fani
" Warburg OF New York. John J.
Mitchell OF Chicago. Philip Stockton.
Of Boston, T. r. Swinney ot Kansas
City, 1ko-. and b. 0. Watts OF ST
Louis.
The eon1nitfee on policy win deter
mine when payment on ths hundred
millions capital stock Of the corpora
tion shall be called and when the
c7HppFztton shall begin operations,
N1enEh1te. the taking OF subscrfp-
tioAa 20 the capital stock Of the cor
porAfiea is proceeding according to
ptAa.