Evening star., 1922-08-30
LOCAL SECURITIES
SHOW FIRM TONE
Sharp Advance in Real Estate
Title Insurance-Bank
Shares Higher.
By 1. A, FLEMING.

By 1. A. FLEMING.
/ Today's session Of the local stock
exchange was decidedly interesting.
a number of securities that have not
been mentioned in recent trading at
tracing some attention, while there
was something doing in many of the
! old favorites.
/ National Savings and Trust Com
pany shares sold at 295. a new high.
and Commercial National Bank shares
repeated their high for the year at
$50.
! While only a few odd lots of Real
Estate Title Insurance Company stock
| changed hands, there was a develop
ment in strength that was marked
enough to cause comment. The hrst
small odd lot, was at 110A, then at
112. then at lis. and finally at 12O.-
/ the aggregate transactions being very
limited.
! Capital Traction was just as strong
as ever, the decreased earnings for
| July being without effect. Sales were
| confined to odd lots at 103a4 to 104
Railway common sold at So. Whlie
Washington Gas was firm at 5SS 10
| 60.
| American Telephone and Telegraph.
washingtonians are largely interested
| in American Telephone and Telegraph
shares as investments. They have heid
the stock during a period Of years and
| find that with each increase IN tne
! amount. the added service resulting
| from the expenditure enables the com
pany to maintain dividends undimin-
ished
With the latest issue, on which rights
are quoted 3k bid and 3A asked, there
| has been small evidence Of any rights
for sale. most Of the holders OF shares
! exercising their privilege Of subscrib'
! ing for the new stock.
| Rights were listed on the local eN-
, change on Monday afternoon, but no
| transactions have been reported as yet
Personal Mention.
Robert v. Fleming. vice president and
! cashier of the Riggs National Bank, re-
! turned this morning from Deer Park
! c. Louis Eckloff assistant cashier OF
the National Metropolitan Bank, is
spending his vacation with his family
| in the mountains Of West Virginia.
! Francis D. Fowler. assistant cashier
of the American Commercial and Saw
! ings Bank, is to Join the forces of the
National Guaranty Finance Corporation.
The Ford Shutdown.
Discussion of the Ford threat to shut
| down with the 18th of September
seems to favor the view that the manu-
| facturer is determined to do what he
can to break profiteering. and that his
| action, should it be in line with his
prediction, will be the cause for very
| general reductions Of manufacturing
forces elsewhere.
! 1t is known that the Ford company
| has Cancelled orders for enormous guam
! nf her bodies
have been cut from 1.400 to 400. with
September and October orders for other
parts slashed seriously.
| 1t is confidently believed that the
largest automobile manufacturer will go
on a buyers strike Just what will be
accomplished by it remains to be seen.
| 1t is not believed that there is any.
real slackening Of the demand for
Ford cars, as September orders are
slated at 125.000 cars. According
| to a statement as of April 80, 1922.
the Ford Motor Co is in strong finan-
. surplus of s240.47s.946.
| Tire manufacturers will suffer
severely from the shutdown, also the
army Of workers.
/ In the meantime Congress is max
| ing efforts to stop coal prohteerlng.
/ Railroad Earnings
| For July the Illinois Central shows
| a decrease in net operating income
i of $4,000. but for the seven months
of the calendar year there is an in
crease of s2.7S7.000.
| Great Northern for July shows a
| gross increase of $4,000, an increase
! Of 100000 in net income for the
month and an increase of S5,400,000
! for the seven months of the year.
!, Michigan Central for July, net op-
i Grating income increased $3S0.000 and
! for the seven months the increase
| was nearly 100000.
! Atlantic Coast Line for the seven
months ended with July made a gain
in net operating income of over
s6.200.000.
! Central of New Jersey, a coal road.
| lost heavily in July, less than $1.000,-
! 600. but $2,25e.000 for the seven
! months.
j AS general rule, coal carriers are
| reporting losses, but other railroad
companies are showing handsome
/ balances on the right side.
! Very many rails, including the less
+; important carriers. are turning def
! icits to increases and handsome net
! incomes.
! Maine Central reports a net operat-
! ing income for the seven months of
! $I,309,296, as compared with a deficit
| Of s775,SS0 for the same period last
! year.
| With the strikes out of the way
and freight moving to the offered
| volume there seems to be no reason
| why the railroads of the country
| should not have very. prosperous
| fall. and winter traffic