Evening star., 1925-01-22
RAIL WAY COMMON
EQUALS YEARS TOP
Mortgage Company Reports.
New Bond 0ffering-0ther
Financial Matters.
BY CHAs. II. sHAEFFER.


Common stock of the Washington
Railway and Electric Company
equaled Its high-water mark on the
washington Stock Exchange today,
~ shares changing hands at par and
quarter to par and a half. The days
hlgh was not maintained, however,
the issue selling off to it's opening
ngure. Railway preferred was like
wise strong, but suffered a reverse or
quarter point to 81 on sales total
ing 100 shares.
Dividends on both these securities
nave been declared at the regular
quarterly rate of IA per cent, pay
able on March 1 to stockholders OF
record February IA.
capital Traction stock gave evi-
uehce or returning to strength, small
Iots being traded in at 80 and 921z
National Mortgage and Investment
preferred sold to the extent of 90
shares at 9ss, while stock of the De-
partmental Bank registered a rise of
= point on the unlisted department,
selling at T.
Ihe bond side Of the market was ex
tremely firm, $4,000 of Railway gen
erai os of 1888 selling above par.
Whlle Gas 6s brought 1015s
Mortgage Company Reports
The annual statement of the Bank
ing Trust and Mortgage Co. for 1924.
marking the first year of operation
as strictly mortgage company, re-
veals net profit of S22,147 for the
period. The gross amounted to S34,4e9
from which was deducted expenses
OF $i2'352, consisting of s9,330 for OPP
erations, S847 for current taxes and
Sz,Ifo for interest. The sum Of $4,000
was apportioned for an initial diyf-
dend at the rate OF 3 per cent.
Stockholders of the company elected
the following directorate: Charles r.
WI hite, James NJ. Proctor, David NJ
Lea, George B. Fraser, Henry c.
Stockrell, L. J. Walsh, L. T. Latham,
Herbert NJ. Moffitt, Antonio Mistretta.
James e. Adams and Conrad c. Smith
Directors elected Charles r. White,
president; James NJ. Proctor, vice
president, and William II. Kyle, sec
retary- treasurer.
New Bond Offering Made.
Redmond Co, Graham Parsons
& Co. and J. q. White &. Co. Inc.
are today offering new issue of
Sl,4o0,0 600 of 100 West 55th Street.
Inc New York City) first closed
mortgage Is year 6 y per cent gold
bonds at 100 and interest, to yield
~ per cent. The company will re-
fund the District of Columbia in
tangible tax not to exceed mills
annually
The bonds Will be secured by A
first mortgage on the property, which
approximates 10000 square feet, and
upon history modern fireproof steel
and concrete apartment building to
be erected on the site. The land and
building as at completion are ap-
praised by ]. Romaine Brown Co. at
s2,26o.000.
Fewer Revenue Passengers.
The Washington Rapid Transit Co.
| suffered decline of 96,069 revenue
| passengers during 1924, as compared
with the previous year, a perusaI OF
the annual report discloses. In the
last u months passengers numbered
S,929,572. but total mileage operated
was reduced to the extent of 1928
miles.
The Sixteenth street route proved
the more fertile during the year, q
| total of 2,123,631 passengers being
garnered over this line. In the pre-
vious year only 1,947,410 were car
| ried. The remainder of the last years
| total was accredited to the Petworth
route. The Rhode Island avenue line,
| which in 1923 attracted 270,2S9 pas
| sengers, was abandoned. The Union
Station line was operated only during
| 1922.
| The busses of the company operated
! on an average of 6.5 miles to the gal
| Ion of gas; the depreciation on busses
was .024 per mile; maintenance. .031
per mile; total income per bus, .213I
per mile, and total cost per bus, per
| mile, .2040.
Four Fageol doubIe-deck busses
| will be put in operation on February
l, it was stated in the report
Elected Assistant Cashiers.
Frank W. Lee and T. Edwin Norris
were elevated to assistant cashiers of
| the Mount Vernon Savings Bank at
! the annual meeting of directors yes
| terday. The following were re-elect-
! ed: r. Golden Donaldson, chairman
! of the board; William Muehleisen.
! president; William II. Johnston and
| E. c. Dawson, vice presidents; Will
! liam r. Baum, vice president and
cashier; Robert T. Highfield, assistant
cashier, and Hayden Johnson, counsel.
Chosen Dinner Toastmaster.
James B. Reynolds, vice president
| of the Commercial National Bank,
| will have charge Of the annual dinner
| of the local chapter, American Insti-
| tute of Banking, on February 81, 1t
| was announced this morning. Mr.
| Reynolds is famed as a toastmaster.
|
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