Evening star., 1924-09-09
CAPITAL TRACT|ON1U
STOCK VERY Active
Total of 1873 Shares Changes
Hands-Riggs Bank De-
cIares Extra"
BY CHAs. p. sHAEFFER

capital Traction stock was the nm
challenged favorite on the Washing
Ton STOCK Exchange this morning.
ana while no change in the selling
Ierei was recorded, a relatively largo
voiume or the stock changed hands
Seilifg for the most part was con-
nned to 10 and 20 share lots to an
aggregate OF 1913 shares. the price re-
naming at 9lh throughout the ses-
sion. or greater significance. how
eyer was the closing Of the gap to
-: cents between the Ibid" and
ASKED price, a continuance of which
snooio assure brisk future trading.
National Mortgage and Investment
preferred maintained its daily actiy-
ity, with sale of so shares at s%
fotomac Electric Power 1st SIS sold
at ~, with the consolidated SIS of the
company changing hands at a point
Io"er. railway Refunding 6s sold at
49, with Gas 6s selling at 10lA, CITY
ana suburban IS brought 50.
Riggs Declares Extra.
directors OF the Riggs National
Bank yesterday declared an extra
dividend OF 1 per cent in addition TO
the regular half yearly disbursement
or o12 per cent. both payable October
10, to shareholders of record Septem-
Der 30 The payable amount will
total $187,500.
Earnings of the institution for the
drst nine months Of the present
year appropriated $4,000 while for
the third quarter they doubled those
Tor the corresponding period of last
year.
Great strides have been enjoyed by
the kiggs National. In 1915 deposits
OF the institution totaled but $500
ooo, on September 3, 1924. they
amounted to s3I,082000. an increase
or approximately s5,O00,OO0 in the
last year. Surplus and undivided
pronts now aggregate s1,O59128 an
addition Of about 1870, 900 in the last
~ months. Also, approximately
36oo.O00 was expended in improve
ments TO the main office in the last
two years.
Loan PIeases Bankers.
although subscription to the new
"a per cent offering of Treasury cor
tlhcates came in in good volume YES
terday, the flotation created but minor
interest in local financial circles,
Both the amount of the loan and the
terms were fairly accurately antic!-
pated.
Bankers say the Offering is al
tractlve to banks and corporations.
out would carry little appeal to the
private investor.
Local Bond Offering.
A new issue of $4,000 Of per
cent close first mortgage gold bonds
is peinS offered locally today by the
american Coal Corporation, a Wash
lhSton concern, with Offices in the
transportation Building. 1t is Sc
cured by assets declared three times
the value of the loan, these including
mining properties, large coal yard
with modern equipment and earnings
"hlch are said to exceed by IA times
the interest charges on the fotation.
Ihe corporation distributes an
thracite and bituminous coal in the Dis
trlct and adjacent territory, and has had
more than 5000 customers during its
three years of operation. 1t is officered
by chester c. Gilbert, president: L.
Punderson, vice president and general
manager, and Herbert B. Hayden, sec
retary and treasurer
The bonds are being offered in de-
nominations of s100. $500 and 81 1000 al
par and accrued interest. They are
callable after two years at I05.
Further increased demand for trans
portat1on facilities is causing contin-
ued reduction in the number of sur
plus freight cars in good repair and
Immediately available for use. although
this increase in traffic is being handled
without difficulty, the American Rail-
way Association reports
The surplus freight cars on August
20 totaled 258,271, a decrease of 20,205,
compared with the number on August
IA. Car shortage for the country as a
whole was only 100 cars on August -
compared with 1872 on August IA.