Evening star., 1924-10-29
W.R. &E. TOENGAGE
IN NEW FINANCING
Bonds Mature So0n-LcCaI
Stocks Strong-Better
Railroad Reports.
BY CHAS. p. SHAEFFER.


Funding operations involving a,
| least S2,6O0,000 will be carried out by
the Washington Railway and Electric
company In the near future to meet
maturing Indebtedness, William +
Ham, president Of the utility, ar
nounced this morning.
The company will be called upon to
redeem $1.SJ0,000 of Metropolitau
Railroad first IS maturing in Febru
airy, and $780, of Potomac Electric
Power debenture 6s maturing a
month earlier. The former will be
met by new issue of WashingtoM
Railway and Electric Company As
aggregating s1,85O.000. provided the
Public Utilities Comm ssion gives its
authorization, while application will
also be made of the commission be
| fore the first Of the year for a new
issue Of lighting bonds to meet the
maturing obligation and also to pro
vide for construction expenditures
The terms Of the latter issue has not
been arrived at as yet, and Will BE-
governed by the money market AZ
date of fotation.
Both issues involved have enjoyed
popular market locally, the carrier
selling at par and an eighth and the
fuel issue quarter higher.
Local stocks Strong.
All active issues continued strong
on the Washin gton Stock Exchang.
this morning, with some favorite is
sues taking slight upturn from yes
terday's prices. This was true o.
Capital Traction stock, which ad-
vanced fractionally to 921s on sales
of 81 shares, and Railway preferred,
which moved forward to 79i..
Gas stock was pegged at %. with
Riggs National Bank strong at 300.
One share of National Capitol BAN
sold at 22J, and eight shares Of Dis
trict National brought les. East
Washington Savings Bank stock
brought %.
Bonds were firm though INACTIVE
Capital Traction 5s sold at 9S24, Ca
5s at 81 Y and the 6s of the fuel com
pany at par and a half
{. & o. Revenues Increase.
Gains in both operating revenues
and net operating income are reporteG
by the Chesapeake and Ohio for Sep
tember. Gross Of s9.649.S75. com
nared with s9.159,o3o in Septembcr
1929. and net of s1.S3%.JS5 was a gaia
of sS9.214 Net for the nine months
reached s16.709.o9J, an increase of
s1,447,S02 over the same period last
year. Gross was s19,393.7o0, a gair
Of s3.5jS.G14.
Pennsy's Net Income Larger.
September net operating income "f
the Pennsylvania Railroad increased
s95j.007 over September Of last year
TO s8.l16.S36. in contrast to a decrease
of s5.952,96S in operating revenues
amounting to s56.664,5O2
The net of S5e,I21,69S for the nine
months was a decrease of s4,S765I..
compared with the same period last
year. while the gross declined s6G.-
4o8.S.o TO s4S0,944.250.
Demands Draw on Idle Car<.
Heavier demands for Transportation
! facilities resulted in still further
decrease in surplus freight cars avail
a bic on October "A, the total of aa.952
being A decrease of S.T7S under the
number reported October :. the Amer
lean Railway Association states.
Virtually no car shortage is being re
ported.
53 Roads Increase Earnings.
Net operating income of the first :,
class one railroads to report September
earnings aggregated S6,S56, 900, an in
crease of about so per cent over Sep
tember, 1928, in which month these
carriers earned $66.119.00O. These re
! turns indicate a probable net of s12o.-
/ 100000 for all class one roads for
september. which would be the largest
! for any month since the passage OF
] L