Evening star., 1921-03-16
LOCAL SECURITIES
n FAIR DEMAND
Bond Buyers Make Liberal
Purchases-Dividends
Declared.
BY I. A. FLEMING.

Business on the local stock exchange
was quite active, with bonds furnish
ing a large part of the business.
Washington Gas notes sold at 100%
at the opening, but firmed back to
1001s at the close. Railway As were
steady at 5S1a and Railway general
IS sold at 901a. Potomac consolidated
SIS sold at S3A and the general IS at
9s.
In the stock list Capital Traction
shares furnished the bulk of activity.
all sales being made at sc. There were
few sales of Lanston at ~ and Con-
tinental Trust shares sold at 104 and
1o2.
Dividends Declared.
The Riggs National Bank will pay
its regular semi dividend of
s13 a share April Is to shareholders
of record April /.
The Security Storage Company will
pay its regular 3 per cent quarterly
dividend April II to stockholders of
record March 81.
OversubscriptiOn to Certificates.
Bankers were not disappointed in
their belief that the April IS certifi-
cate issue would be ovcrsubscribed.
1t is likely that the Treasury will al
lot full subscriptions.
Wall Street Notes.
1t is stated, with some measure of
poSitlveneSS, that Henry Ford does not
need any financing in the immediate
future. A short time ago the banks
were figuring on heavy borrowing and
nigh rates. The statement is made
proved so much that Mr.. Ford believes
he can go it alone"
Studebaker earnings for 1920 were
Sl55S a snare on the common stock,
comparing with s2s.54 a share in 1919.
Uncle Sam will suffer in the matter
of income tax.
American International Company
earned in 1920 but 1856 a share on the
combined common and preferred
Stocks
The railroads should have an excel
lent saving for the fiscal year with
an open winter and freedom from
storms and hindrances to smooth ope-
ration.
Cumberland Telephone and Telegraph
earnings for 1920, gross S13,9470 012
as compared with $5,434,322 in 1919.
But the operating expenses increased
from $4,245.339 in 1919 to 11,519,942
in 1920 and uncollected revenue and
ing payment from. the government
the company closed the year after
dividends, with S140.S17 deficit.
The Chicago and Northwestern
Railroad Company has just received
$12,000,000 from the Treasury.
Canadian Pacific earned $l1.29 a
share on the common stock in 1920.
Dinner to William NJ. PheIan.
At dinner given by the directors
of the Washington Savings Bank. to
William NJ. Phelan, their president,
addresses were delivered compliment
tary to the guest of the evening by
George 3. Bryan. j. d. Leonard, Jo-
seph A. DAILY, William E. Russell, Jo-
seph D. Sullivan, Rosa Downing.
Leon Shore, ]. T. Mccarthy and Will
liam Venable. =.
Mr.. Phelan responded with due rec
ognition for the efforts of his asso-
ciates, and predicted brighter, better
things for the bank
The following guests were present
in addition to those mentioned: John
r. Brown, James F. Brennan. Burt
Dfxon,- e. v. Noyes, John p. Collins,
j. P. Hannah, Julius Wenig, John
Jacob. Joseph B. Jacobs, W. Z.
Humphreys. John NJ Trant, John B.
Morrey, j. Redmond Walsh, Thomas
d. Walsh, T. Hanlon, Earle F. Marean,
Charles S. Hilbert, Robert j. Earn
shaw, George L. Walden, Audley
Savage. Luke OReilly and John
Ready.