Evening star., 1926-09-27
RICHMOND BANKERS ASSAIL NEW
MERGER PLAN AFFECTING C.. g 0.
Hold Terms of Proposed Union Still Un-
fair to Owners of Stock in Road.
Present Figures

of rental has not been figured out
but suggests that the Chesapeake
and Ohio and Hooking Valley rail-
road should receive about $12 per
share per year.
| To get at the market value OF
Chesapeake and Ohio stock the bank
ers have compared it with Is other
prominent railroads of the country
After these comparisons they have
placed the value Of the common at
213. On the day the table was drawn
up--September lit was selling on
the New York Stock Exchange al
1862. 1t sold last Saturday at 173.
Much h. & O. Dividend Gossip.
| Wall Street news today called at
tention to the meeting of the Balti
more and Ohio Railroad direators
scheduled for Wednesday, for dividend
action and a review of the earnings
for the first eight months of the year
In some quarters it is anticipated
that the board will vote an increas sc
on the annual rate of common stock
to S6 per share.
Net operating income for the eight
months gained about $1,000 900, or 2s
per cent over the corresponding period
! in 1928. This increase is equal to
| $3.50 per share on the common stock
| The years earnings are now being
estimated around SIT per share.
! Figures given out this forenoon fol
| August showed the net railway op-
Grating income for the month to have
| been $5,747,732. a gain over August
1925. of $S06,s19.
Trading on the Washington Stock
Exchange was fairly active when the
weeks transactions opened today
| Twenty-seven shares Of Washington
Gas Light sold at 20. Railway & Elec-
trio preferred came out at 89%. while
Potomac Electric Power preferred
sold at 10TH. Capital Traction
which has been selling ex dividend
for several days. recorded turnover
of 80 shares at 103ss. being fraction
ally higher than the last sale. Lans-
ton Monotype sold at 30. Two bank
| shares of Riggs National going at
44s. while Continental Trust opened
at 90 and closed at 93z.
| In the bond division Washington
Gas IS sold at 101, Washington Gas
SIS IN a 5000 turnover at 1929. and
| Potomac Electric first SIS at 101.
Other Financial Notes.
Maurice Otterback, president of the
| Anacostia Bank, leaves Washington
tonight for the convention at Los An
geles. He will board one Of the spe-
cials from New York that go
through to the coast. Mr.. Otterback ok
is the delegate of the District Bank
! ers'' Association to the State bank
, 1iviSion of the national body and
ill attend all it's sessions.
The tickers in the local broker
offices were shifted back to standard
| time today because of the end of
| daylight saving in New York. the
! Stock Exchange and other big finan-
| cial markets in New York opening
at 10 instead of 3 o'clock.
Glass work at Washington Chapter
| American Institute of Banking, opens
! this evening at the new quarters, In
| the Becker Building. The enrolment
| is expected to break all previous rec
| ords.
| A banking group has underwritter
a $5,000,000 issue of first mortgag &c
sinking fund bonds secured by the
motion picture theater property
owned by the Stanley.Crandall Co
Of Washington. a public offering Is
| expected to be made tomorrow.
| Frank +. Harmon. jr., vice president
Of the Merchants Bank & Trust Co.
has returned from his vacation, and
| Frank f. Ghiselli. another vice presi-
dent is now taking his annual out
ing. Secretary William Fl. White anG
| Auditor Ralph NJ. Wolfe are back
at their desks after enjoyable va
| cations.
Goodyear Tire & Rubber Co. will
retire on November /, through oper-
alton OF sinking fund, $75O,00O
principal amount of first mortgage
20-year per cent sinking fund gold
| bonds