Evening star., 1921-09-26
LOCAL Securities
SCORE ADVANCES
Public Utility Bonds and
Stocks Favored-Gas
Shares Higher.
BY I. A. FLEMING.

Although the volume of business
transacted on the local Stock Elk
change was not especially large. the
session was interesting and prices
especially for the securities of the
public utility corporations traded ih'
again displayed good strength.
Washington Gas was the feature III
the matter of strength. one ten-share
lot being reported sold. but the price
was Al, four points up over the Gu!
rent price at the opening OF last week,
Railway preferred also dispiayea
more strength and on sale OF
quotation lot. Is shares, moved up
to So.
There was a good demand for Poto-
mac Electric consolidated 5s, with
total sales of $4,000 at one price,
sSs, The The gene general armsr IS OF at s9 s9e same
Thirty shares of Commercial Ma
tional Bank stock sold at 1879 to
167.
Clearings of New York banks still
show heavy losses, Philadelphia run
ming about $7,0oO.000 short of last
years record and Baltimore lost
$10.790.S11 on Saturday.
On September 21, Richmond. Dallas.
Atlanta and Minneapolis were bor-
rowing banks from other federal
reserve regionals to the extent OF
S66,376,00 with Richmond borrow
er to the tune of s24.72S.0O0 and Dallas s
s1s,2s6,O00 Both banks, have made
slight deductions. but Atlanta has In
creased it's loans nearly S4.0OO.oO0.
Minneapolis has cut off $2.O0O.00O of
its loans.
The Pullman company earnings for
the fiscal year ended July 81. 1921.
TOW
charges equeal to $5.10a share on the
capital stock as compared with $l0.7S
share in the previous fiscal year.
The depreciation charge was, contrary
to general practice in these days.
heavy, $6.267.339, as compared with
no depreciation in 1880.
There was a deficit of $3.47S,S36 af-
ter charges and the full years divi-
dend.
The company has assets of $163,-
24S.S89.o of which $20,0G0,000 is in cash.
1t has Ss.373.1s1 in securities and by
bills receivable Of S9.S4S.281.
Pennsylvania Earnings.
Pennsylvania Railroad for August
shows an increase of $S.752.S4S. and
$40.S1S,S11. Net operating revenue
increased $s2,os5.s63.
Personal Mention.
John Joy Edison returned from At
lantic City this morning.
John B. Larner, president of the
Washington Loan and Trust Company,
will be at his desk tomorrow.
Francis w. Savage is at Hot
Springs, Va.
b. 4 o. August Showing.
The net operating revenue of the
Baltimore and Ohio for the month of
August was S3.441,4 ,402, made from
gross earnings of $1.210,S91 under
those of the same month last year
and with a reduction in operating ex-
penses of $9.32S,406. although the
comparison included $1.642.724.s7 back
pay applicable to the calendar years
191s-19 as a result of the increase
granted by the Interstate Commerce
Commission. In August, 1920 there
was deficit in net of $4.67S,113.
For the first eight months of 1921
the report shows railway operating
revenue of $130,702.162. a decrease of
$7.301.311.
For the eight months the reduction
in operating expenses accomplished
by saving of $20.SsS.7o4 in main
tainance of way. structures and
equipment and $11.765,42s in trans
portation and other charges, matter
of $32, 2,029.090 all told. The net revenue
for the eight months was turned from
a deficit of $5,554,S91 in 1920 to s19,
172,sSS, an increase of S24,727,779.
Net operating income for the eight
months. $12,215,e61, gain of Vs.
659456.