Evening star., 1922-10-03
HOLD BACK ORDERS
FOR CONCESSIONS
BY 1. A. FLEMING.

Brokers on change report that tneTe
Is much better feeling in local
stocks than shows in the action or
the market these days. They say
that there are orders for large
amounts of Washington Railway and
Electric and Capital Traction shares
held just fraction under the market,
and doubt the ability of anyone to
acquire any quantity of publlc utlllty
stocks without causing sharp up
turn in prices.
Some brokers profess to be dis
appointed in the continued decrease In
fhe net earnings of the Capital Trac-
ton, although the reason and cause
thereof will not be fully explained
until the annual statement shows the
capital expenditures for bettermentS,
improvements and equipments, which
have probably been paid for to the
last cent from the earnings OF the
year.
company since the first efforts We're
made to put both traction companies
on u like fare basis, the Capital Trac-
tion using it's excess for upkeep,
maintenance and equipmene.
For Il ! per cent dividend payer, a
public utility stock which seems apie
and competent to maintain this dlVl-
deud or at the worst, if forced to re-
ducc fares, at least Il per cent rate
present prices are very cheap, espt,
cially with money lending on can
around 4. to per cent, temporarily
firm and ample investment funds
available for to 4h per cent en-
ploymcnt.
Every day patrons of the Capital
Traction Company have evidences or
upkeep expenditures here ana there
throug hout the SyStem-Whole lines
rebuilt. and on a scale that suggests
the rejuvenation of the entire sys-
TEN before very long.
Washington Railway Earnings.
Statements filed with the Public
Utilities Commission showed that the
Washington Railway and Electric
Company's net earnings for the
month of August. 1922. are S140.043. as
compared with $234,aS1 for the cor
responding month last year and
compared with s13,95S for the month
of July last. 1t is likewise true that
this company is making many i'm
prOVementS this year and adding to
capital expenditures.
J city and Suburban turned in a net
income of S35006 for August instead
of the deficit. s21.235, year ago
Other feeders left small deficits in
their wake, Interurban. $1,S27, and
TenleytoWn. $3.50.
Potomac Electric turned in net earn
ings of $56.615 for August, gain of
$4,000 over year ago. the same
month. but nearly $4,000 under July.
y matter of $4,000 set aside. await
ing adjudication OF physical valuation
cut in service cost, case now before
the Supreme Court.
COL Wade II. Cooper. president of
the Continental Trust Company. and
OF the United States Savings Bank, is
in attendance at the y. 3. A. conven-
ton. He says registrations total
about 5000. by far the best attendance
i'll the history of the association.
W. w. Spaid of w. B. Hibbs & Co
is at Pleasant City. Ohio, enjoying a
visit with his parents. Billy Hibbs
has him all dated up for the world
series on his return.
f.. VI. Savage will return from his
long trip Ocotber TO- He is now in
London.
Returns from today's session of
the local stock Exchange showed
the most active market in many days
in both stocks and bonds, with an
unusually large number of odd-share
orders.
Railway preferred was the strong
, est of the active utilities. steadily
moving up from an opening at a 2s
to 71i2 and. after call, to 7ss4.
Only odd lots of Capital Traction
changed hands at 102A to 102. while
Washington Gas sold at 5S7s to 5Sa4
Traction IS We're active and little
easier at 99is to 99ls. Railway As
opened at 7iI- and closed at 74%.
Potomac Consolidated 5s firm at 96i4
and Metropolitan IS We're firm at 91A
with Gas rs ".
l.aust"n brought so to SO14.
y share of Riggs Bank brought