Evening star., 1922-10-27
|EXPECT DIVIDENDS
|T0BEFUL[YEARNED
Stock Exchange Interests
Hopeful for Traction.
Companies.
BY I. A. FLEMING.

l
Members of the local stock ex-
change expect to see the gross earn
| ings of the two street railway sys-
! TENS showing up in a fairly satisfac-
| tory manner when the figures of the
year are made up.
J There is small question but what
bus traffic has taken considerable
| gross from the street railways. S25.-
600 to $4,000 monthly. without cor
responding net result to the owners
OF the bus lines. Very few busses
have been operated at profit, the
usual monthly report showing a deficit.
| IL iN believed that the Washington
Railway Company will show good
earnings. while it's side partner, the
| Potomac Electric, is counted on to
produce In excess of last year.
Friends OF Capital Traction claim
that II has more than earned its divi-
dend deSr.;= :he splendid manner in
| which the company has maintained
It's equipment an& track. greatly in
creasinS the expenditures chargeable
to maintenance and upkeep.
should the Washington Railway and
Electric Company obtain permission
TO operate busses from Wisconsin ave-
nue.. over Connecticut Avenue bridge,
! 1t would not only draw from its
scanty feeder on Wisconsin avenue.
but would either force the Capital
Traction Company to greatly increase
| bridge to the Zoo at least, section
! Of the city that is calling for better
, service, and calling loudly, or draw
| heavily from it.
! 1t is a fact that a Chevy Chase
! resident or one residing west of Cal
hrt dpn fa kn q a
down to Pennsylvania avenue, be-
! tween 9th and 18th streets. without
transfer. Such a bus line as suggest
| ed would draw a large patronage.
i Brightwood Bank.
| Directors of the Brightwood Saw
ingS Bank. which will open for busi-
ness November l. yesterday voted to
The controller of the currency has
! authorized the opening of the bank
with capital Of 100000 and surplus.
/ $4,000. r. l.. Schreiner. formerly
with the Union Savings Bank and the
Continental Trust Company. will be
cashier. The other officers are Will
| liam P. Killeen. president: j. G. Beard
and George z. Mullin. jr., vice presi-
dents. and Lloyd F. Gaines. assistant
cashier. The Brightwood bank will
Money should He Easier.
! New York bankers are emulating
the efforts of their associates in the
business in other cities in fighting to
{; prevent any concessions in rates for
| money.
| Despite the absorption of much
capital by the Treasury Department
| in financing the needs OF the govern
| ment. the supply is still more than
adequate for ali needs. business is
not using any very large amount of
| credits, as the weather has been
! against the sale of the heavier goods.
! Heavy selling Of stocks during the
| entire week and the downward trend
in the bond market is releasing con-
| siderable funds in New York city.
! The street was surprised by the
F, drop in the new Az per cent Treasury
bonds yesterday to $3.50. which may
be accredited to the unloading Of
placed on the probability of getting
/; out of their commitment on a profit
and who never intended to purchase
f: the bonds for investment.
! Naturally when these offerings come
| out, '.at the market" they will hit a
| low price.
i Local Business Slow.
Local business is not especially
good. The weather during the first
! half of the month was too mild. while
the nearby races are taking thou
| sands of people out of the city every
/; day. with consequent loss of trade.
More or less money goes with the
| race-goers and some comes back. but
between times there is small oppor-
tunity for the purchase of mer-
chandise.
1t will not be long now before the
"shop early" signs will make their
appearance and the chances are that
a fairly good average will be made
| up for the season with the rush of
Christmas shopping.
At the Gas Convention.
!! George Il. Cortelyou. president of
| the Consolidated Gas Company of
New York. in speaking before the
! delegates to the American Gas AS
, sociation. announced that hereafter
+; the gas industry win wage a reIent-
/, less warfare against all cheap and
I inferior appliances that are now on
the market and will insist on quality
| goods
dedicated to public service, and while
! economy in construction Is desirable
from the manufacturers standpoint
i we all agree that economy of opera
ton from the public's standpoint, is
| the goal to be attained"
Henry L. Doherty. president Of the
1 Cities Service Company anu the Dem
, YER Gas and Electric Light Company,
who Monday excited much interest
! with announcement of experiments
.
! with coal for heating homes in Den
| yer, yesterday gave more details of
! his plans.
| THE gas price to be fixed in heat
| ing the hundred homes comprised in
| our experiment" he said. will ap-
! proximate q rate equivalent to coal
| selling at SIS a ton. In competition
on an equal basis at this rate, gas
! will have the opportunity to show
\ that, costs being removed as q factor
! in the household consideration, gas is
superior to- coal for domestic heat
I ing.
| "And as to gas rates. if we can
sell an average Of 100000 cubic feet
| of gas to a customer where we now
\ sell 10000, we can make rates low
enough to enable US to heat homes
| with gas.
Prices Are Easier.
| Prices on bonds, traded in on the local
! Stock Exchange today showed slight re-
cessions amounting in some instances
| to Y and u a point.
| This is but natural in view Of the re-
! cessions that have taken place on Wall
street in the bond list and in stocks as
| well.
Railway common at 55A and the pre-
ferred at 76a4 and II were compara-
Gas IS. IS: Railway 4s, "a: Traction
| general IS, 99h, and Gas Is n notes.
\ los.
A few shares Of Capital Traction
| brought 10111.
PERI TARIFF BILL READY