Evening star., 1927-03-28
WASHINGTON GAS
LIGHT AT NEW HIGH.
Shares Go to rs, Leading All
Others in Point of Trans
actions Today.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Washington Gas Light stock scored
a new high for the year on the Wash
ington Stock Exchange today, when
q 100-share lot changed hands at rs.
This stock was again the market
leader. It opened at 742s for one
share and advanced to TAN on 10
share sale. Four sales involving 90
shares then took place at the same
figure, followed by 10.share transfer
| at 74ss. The stock closed at the high
for the day.
Other stocks were also strong, Capt.
tai Traction registering 106. Potomac
Electric Power 10S%, Railway & Elec.
| trio Power 108%. Railway Electric.
| 91A, Peoples Drug Stores, 100 and
Merchants Transfer & Storage, 1908.
| Forty shares of District National
| Bank stock sold at PAT.
| Bond prices also remained steady
| being confined to the issues of the
Washington Gas Light Co.
Il. s o. February Net Improves.
| Net income of the Baltimore & Ohio
| Railroad for February was highly ia
| vorable, being $2,183,427 compared
| with $2,005,763 in February last year.
| an increase Of $177,000. Gross rev.
| enues for the month were SIT, ,903 ,907
| in comparison with $17,710.375 last
| year, gain of more than $4,000.
Total railway operating revenues for
| the first two months of the present
year amounted to $37 ,601 1852 against
| $37, ,231 ,651 for the same period in 1925.
an increase of $369.701. Net income
for the first two months totaled $5,-
100.856 compared with $5,08S,54G, a
l. gain Of $12,310, according to reports
given today.
The report of the Southern Railway
System has also just been made public
and shows that the road has a net
operating income of s2.759,46O against
$3,11O,413 for Feb. year ago.
Pennsy Reports Record Year.
The Pennsylvania Railroad reports
that 1926 was the best year in freight
traffic the road ever had and that pas
senger business was slightly larger
than In 1925. The statement says:
There were 28.706,042 separate indi-
vidual shipments of freight, embrac-
ing all forms of commodities and
manufactured articles. The freight
trains moved a total distance Of ST.
979, ,4S3 miles and the loaded car move
ment was equivalent to hauling one
car a distance of 1,702 ,403. .796 miles.
Approximately 81 per cent of the total
tonnage was represented by carload
traffic"
N. & w. Also Has Big Year.
The Norfolk & Western R. r. also
enjoyed one of the best years in its
history in 1926, the prolonged British
coal strike being an important factor
in the record earnings. Operating
revenues were $120, ,409 ,03837. a gain
of SIS 5,190. .047.3S, or 14.44 per cent
greater than 1925. Operating ex-
penses increased 1929. .09S.69, the to-
tai for 1926 having been $71,226,914.
Net revenue from operations was S49.-
1872 2,12419, an increase of $780,
948.69. Total operating income, $3S.-
094 1928; increase, $9.439, ,639.34. Net
railway operating income. $4O,922,-
15O.68; increase, SO All, 1929. Gross
income, $42 .64s.21; increase. $lO.-
O39 ,564.85. Net income, $36. .867 ,506.34,
an increase of $10,302, ,6601S.
Increase in Credit Demands.
Demand for commercial credit at
Federal Reserve member banks in
leading cities increased seasOnally be-
tween the middle of February and the
middle of March. There was also
growth in the volume of funds used
in the security market, as indicated by
increases in loans to brokers and deal.
ers in securities. Consequently total
loans of the reporting banks at the
end of the period were close to the
level of last Autumn. Financial oper-
ations of the United States Treasury
around the middle of March, with dis
bursements temporarily in excess of
receipts, resulted in a temporary
abundance of funds, which was re-
fiected at member banks in leading
cities in a growth of deposits, in re-
duced Indebtedness at the Reserve
banks and in increased holdings of Sc
curities.
Personal and Other Notes.
President George L. Starkey of the
National Bank Of Washington was
back at his desk today after a visit
to Atlantic City. He had fine weather
and was much surprised to find the
largest hotels at the resort practically
filled with guests.
William D. Hoover, president of the
National Savings & Trust Co.. passed
the week end at Pihehust. N. c.,
where Mrs. Hoover has been spending
several weeks.
Maurice Otterback, president of the
Anacostia Bank, returned to Washing.
ton today after quite an extended
visit in Florida. He passed much Of
the time at st. Petersburg.
II. Golden Donaldson, who has been
sojourning In Florida for several
weeks, has returned to his duties as
president Of the Commercial National
Bank.
w. W. Spaid Of w. B. Hibbs & Co.
has returned from New York, where
he attended a meeting of the execu.
tive committee of the out-of-town Sec |
tion Of the association of New York |
Stock Exchange firms. Mr. Spaid or |
ganized this important committee and |
Is chairman of 1t.
Employees of the Bank Of Commerce |
& Savings are deeply grieved over the |
death Of Mervin Farmer, one of the |
bookkeepers. He was only % years |
old and had been married but a short |
time.
Virginia Electric's Report.
Business conditions throughout the
territory served by the Virginia Elec-
trio & Power Co. were generally satis-
factory during 1926, and the year was
marked by material progress in indus
trial and commercial development. ac-
cording to the annual report of Luke
C. Bradley, president of the company.
There is every reason to believe that
the coming year will prove satisfac-
tory to stockholders, 1t was added.
A. C.. T.. EARNINGS DROP.