Evening star., 1925-06-26
TRADING IS HEAVY
IN LOCAL ISSUES
Capital Traction Touches
100 1-8-Southern's Earn
ings Lower.

ITaolnS was unusually active on the
dshlngton Stock Exchange TO-DAY
resulting in volume of sales, both in
stocks and bonds, which has not been
equalled in many days,
capital Traction was stronger. s.
shares going at 99% 26O selling al 1ON
and 20 touching 10Oh. Capital Trac-
ton 5s went at 98A.
chesapeake and Potomac Telephone
60. 5s brought 100, in a block o.
Fifteen shares of Washington Cal
brought 60&, while 183 shares weri
at 81. Washington Gas 6s changed
hands in two blocks, $500 at 1897 sri
S400 at 102.
In the unlisted department 90 sharey
OF Chapin-Sacks Corporation sol
Southern's Earnings on.
Southern Railway earnings wert
less favorable in May than the SAM
inonth last year, net operating income
oechnlns to S2.121, ,481 from S2,266.35J
1ross revenues fell s226.743 to S1,s
to9,-o4 Net operating income for TIL
nrst hVe months, however held a good
gam over the same period of 1924,
the total of Sl2.072,154 COMPARING
With Slo,b9s,386. The Chesapeake and
ONO had good month. net operatin,
ihcoine gaming 1881 1866.
Two Banks Vote Dividends.
The National Capital Bank Of
Washington has declared the usual
sefnl-annual dividend of per cent
ana an extra dividend of . per cent
payable June 80, 1925.
Inc regular Semi-annual dividend
OF per cent on the capital stock OF
.he seventh Street Savings Bank has
been declared. payable July l, 1925. to
stockholders of record June 80.
i. c. c. Allows Bond Issue.
over the protest of Commissioner
Eastman, the Atlanta Terminal Co
was permitted today by the Interstate
Commerce Commission to issue and
| sell 100000 of 20-year bonds. AS
| IN other recent cases involving the
sale OF particular types of railroad
| securities, Commissioner Eastman
/ held that the price of the securities
should be fixed by competitive bid
dlng and not by private sale to bank
erS.
More Cars Put i'm Service.
Class l railroads from January
| THIS year TO June l placed in service
i 'o'S49 freight cars. according to re-
| ports filed today by the carriers with
/ the American Railway Association
! here. This was an increase of l2394
! cars over the number installed during
the corresponding period last year.
! Of the total number installed from
! January l to June / this year 1858
were boS cars, an increase of lOS69
over the number placed in service
during the same period last year
Gain Seen in Tax Cut.
| The proposed tax cut should nroye
! a stimulating influence" says Moody :
| Weekly Review of Financial Condi-
| tons. Stocks as we'll as bonds should
| be benefited. because when there is
a plethora of capital the stock market
! gravitates toward an income basis.
! "TaX-free issues. including bonds Of
/ the States, the United States and
strong municipalities. are unlikely TO
/ be depressed at all, because any large
tax reduction would increase rather
! than diminish the amount of capitaI
seeking investment
corporation bonds however should
! be benefited TO the extent the taxes
| are reduced. because the Yields of
! these virtually include allowances for
covering Federal taxes, with the re
| suit that the decrease of the taxes
! actually increases the net yield TO
! investors"
Bankers Have Fine Luck.
Andrew Parker. vice president:
| Charles r. Grant, assistant treas asurer.
! and John II. Clapp of the Washing
| ton Loan and Trust Co. have re-
! turned from a three weeks vacation
at Tarpon, Fla They say between 80
and 60 of huge tarpon were caught
by the party.