Evening star., 1924-08-13
R. N. WOLFE MADE
DIRECTOR OF BANK
Capital Traction Leads Ex.
change Trading-B. & O.
Issue All Sold.

Ralph NJ Wolfe, assistant cashier
of the Citizens Savings Bank, was
elected director of the institution
at meeting yesterday afternoon Of
the board of directors
Mr.. Wolfe was formerly with the
american National Bank, and with
the District National Bank. While at
the latter he was associated with his
brother, Edmond S. Wolfe, then
cashier Of the District National Bank,
VINO is now president of the First
National Bank of Bridgeport, Conn.
Trading on Local Exchange.
Trading in Capital Traction stocks
and bonds featured the Washington
Exchange today. A total of 2la
! shares went at "a, while $500 in
Capital Traction SIS moved at 9SA.
other activity was in odd lots, with
prices holding firm. Ten Washington
halIWay and Electric preferred went
at 1o@ 20 Riggs National Bank, at
292, and 10 Riggs National Bank, at
1921
Ii. & o. Issue Oversubscribed.
The Baltimore and Ohio long antici-
pated retunding program was put
INTO eHect this morning, with the Of
lering by syndicate of a $4,000 900
issue of first mortgage per cent
bonds to retire an equal amount of
prior lien, 312 per cent bonds matur-
ing next year. The bonds are offered
at SS12, with preference given pres
eht holders of the 81. per cent paper
1t was the largest block of railroad
financing so far this year and was
quickly oVersubscribed. Both the New
maven and st. Paul railroads are
confronted with sizable maturities
In 1925, and bankers for the latter are
sald to be considering plans for re-
funding this year.
Rail Valuation Fixed.
tentative value of s961.700 was
placed on the Anthony and Northern
hallway Company by the Interstate
Commerce Commission today. The
cairo. Truman and Southern Railway
was valued at s176,796.
Hearings on the INTERCHANGEABLE
mileage tickets case on the railroads
OF the country We're assigned today
for September "a at Washington be
fore Commissioner Meyer by the COM
mission
j. &. &. Makes Transfer Ruling.
Railroad tariffs covering truck or
wagon transfer service, when per-
formed as terminal service of
common carrier or in connection with
transfer of freight in transit at an
Intern ediate point are not unlawful
d
Commerce Commission.
The commission held, however, that
such tariffs are unlawful when they
are made to cover truck services for
movements commonly designated as
line hauls, when operated as an ex-
tension of the line and as part of a
through movement in connection with
the carrier.
SeabOard Gets Control of Road.
The Seaboard Air Line Railway Co
today received authority from the Inter
state Commerce Commission to acquire
control by lease and purchase of stock
of the Florida Western and Northern
Railroad Co.
The Seaboard will assume obligations
and liability on securities of the Florida
Western and Northern Railroad Co. and
of the Land Co. of Florida by entering
into lease by execution of a trust in
denture, by Endorsement and pursuant
to proposal to sell s7,000.000 of Flor
ida Western and Northern bonds.
The Florida Western and Northern
received authority at the same time II
issue S7.000,000 of first mortgage sink
ing fund Z per cent gold bonds, to ne
sold at not less than 92.5 per cent of
par.