Evening star., 1926-05-25
CAPITAL TRACTION
MARKET LEADER
Stock at 1903 1-8-Bankers
Urge Aid for Farmers-Rail
Earnings Up-Notes.
BY EDWARD C. STONE.

Capital Traction stock led tho
trading on the Washington STOCK
Exchange today in a market TIA.
was unusually quiet. Thirty shares
Of the street railway company issue
figured in one sale at 103h. Nex'
in importance in the sessions deal
ings came the transfer Of 20 shares
of Washington Railway & Electric
preferred at So fiat, this transaction
being followed by turnover Of -
shares of Washington Gas Light
stock in two lots at 6S1a.
There were but two sales in the
bond division. Washington Railway
Potomac Electric cons. 5s figured in
a small turnover at 100iz.
Bankers In Plea for Farmers.
Inquiry among Washington bank
ers shows that there is wide differ
ence of opinion over action that
Congress should or should not take
in aid of the farmers. Many be-
lieve that the plight of the farmers IL
one that Congress cannot or. better
perhaps. should not deal with d.
rectly because any special assistance
may come under the head of class
legislation and be illegal.
On the other hand, several ba mixers
insist the farmers certainly need help
and must have it sooner or later. They
have no union through which TO dc
mand and obtain higher pay for their
work and products. Unlike union men,
they receive no extra pay for over
time toll, although they work from
| dawn to dark during the harvest sea
son. Furthermore, they have TO he
on the job 365 days year, as the
cows have to be milked and the horses
and other animals fed.
National prosperity, the bankers
| say. depends to great degree on the
prosperity of the American farmers
and it Is wholly unfair for the agri
| cultural workers of the country not
10 get splendid financial rewards In
proportion to the efforts they put
| forth.
Stock Offering Announced.
The Samuel r. Harris Co. Inc. en-
gagged in the field OF Washington
building construction and realty devel-
| opment. is offering to the public for
the first time the unsold balance OF
| 1000 shares of its per cent cumu-
lative preferred stock at SO per share
| and 10000 shares of it's per cent
preference common stock at $3.50 per
/ III uIlllS vi OIIO SNARE VI cdC11 dL
$3.50 per unit. This issue will cover
immediate increase and enlargement
| Of the company's building and real
| estate developments in Washington.
officers said today
The present officers of the company
are Samuel r. Harris, president and
| general manager; Raymond G.. Moore,
! vice president and assistant manager:
Henry Gilligan, vice president. gen
| eral counsel. secretary and treasurer:
P. E. Harris, assistant secretary and
treasurer, and Forrest IT. Riordon.
| manager investment department.
Southern's New Record.
Southern Railways April gross
revenues were approximately $4,000
600. exceeding the best previous April
Of $12.55S,776 in 1923, and comparing
with gross of .292 a year ago.
A significant contributing factor Is
the continuance of increase in pass
enger receipts. April being the eighth
consecutive month that revenues
from this source recorded an improve
ment over corresponding month of
preceding year.
The North American Co. has de-
clared regular quarterly dividends of
21zSo in common stock on the com
mon, and IS cents on the preferred.
both payable July l to stock of rec
| ord June 5.
Debts by banks in all reporting
centers in the Richmond Federal Re
| serve district totaled $315,153,000 dur
| ing the week ended May 19, 1921. $40
900 during the comparative week last
year and $297. .391 900 during the previ-
| Gus week in 1926.
Cooper Discusses Credit Banks.
In an address at Montgomery. Ala.
| Commissioner r. A. Cooper of the
Federal Farm Loan Board declared
4 the intermediate credit banks have
never sought to render a rediscount-
| ing service except where local bank
ing facilities have been inadequate.
Where their policies have been un-
derstood their service has been well
| coined by the banking fraternity.
Their future power OF usefulness"
| he said, will be just what the farm
| ers, on the one hand, and bankers,
| on the other. want it to be. II
| should continue. as 1t is now,
| stabilizing influence. reservoir of
| credit to go to during a period Of
distress or. temporary embarrassment.
or for long pull as in the growing
Of herds of livestock, where so much
as three years credit may he re-
Quired."
| Poppy Drive Great Success.
| In the banks in Wa shington today.
| were stationed many very attractive.
young women who were selling pop
| pies in connection with the big drive
now being carried on by the Ameri-
/ can Legion. Bank customers. we'll
as officials and employees. were very
generous in giving the campaign
boost. and buddy poppfes" were very
much in evidence In all the city's
financial institutions during the day.
Phone Rights Prove Popular.
New York reports that the new
American Telephone and Telegraph
rights show steady accumulation in
Wall Street. The rights advanced
fractionally yesterday in sympathy
with the higher price for the tele-
phone company's stock. While these
rights are listed on the Washington
| Exchange, most Of the trading in
them is done through the New York :
Exchange.
Latest Cotton Forecast.
World consumption of 14.00o.0o
bales of cotton next season at around
the present spot level is forecast to-
day by the Brookmire Economic
Service. Inc. in a bulletin based on
an analysis of world conditions as TO
supply and demand.
The bulletin places the world supply
for 1925-26 at 100000 bales Ameri-
can cotton-a figure based on the
crop of over $1,000 900 bales and a
carry-over Of 100000 bales.
First Woman Railroad Head.
Mrs Sarah. Drain Edenborn, widow ~
of William Edenborn, the immensely
wealthy builder and sole owner of the
70O.mile Louisiana Railway and Navi- :.