Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-03-24

February Net $44,475, Com
pared With $48, 367 Re-
ported Last Year.
BY EDWARD C. STONE.

w ME net income OF the Cdpltd4
Traction Co. fell off during February.
compared with the same period last
year. the total net income for the
first two months of 1927 was $107,-
271.37, compared with the smaller fig
ure of $104,47 year ago. accord
ing to the February report filed with
the new Public Utilities Commission
today.
Operating revenues for the month
reached $352,128, in comparison with
$35S,737 in February. 1925. Operating
expenses and taxes amounted to $3.50.
O41. against $283.442 a year ago. leav.
ing an operating income this year OF
S72,086, compared with $75,294 for the
same month in 1926. After deduction
Of all other expenses the total net In
come for February, this year. amount
ed to $44.475, while last years month
ly figure was $48.367.
The company's lines carried 4.S34.1S6
revenue passengers during the month
under review.
Local Securities Remain Strong.
Securities on the Washington Stock
Exchange remained strong again to-
day with a generous amount or trad
ing. Washington Gas Light, the
recent market leader, appeared on
the board at 1885. four transactions
taking place totalling Al shares.
Capital Traction again sold at 106.
Lanston held at IS, Potomac Elec-
trio preferred at 100, while 20 shares
Of Merchants Transfer & Storage pre-
ferred changed hands at par. One
hundred shares of National Mortgage
& Investment preferred came out at
81 and IA shares Of Seventh Street
Savings Bank stock sold at 230.
In the bond division Barber & Ross
ca sold at SO. there was good trading
In Washington Gas IS, series B, at
los. Gas 5s came out at 100B, Rail
G Electric IS at S51s. and Anacostia
&c Potomac Railroad SIS sold at 95&.
Security Savings Dividend.
At meeting Of the board of direc.
tors of the Security Savings & Com.
mercial Bank. held yesterday, the
regular quarterly dividend of per
cent was declared. This dividend is
payable on March 81 to stockholders
Of record at the close Of business on
March 25, Vice President Francis G.
Addison. jr., announced today.
Mellon Reports ON Exchanges.
Secretary Mellon reports that ex.
changes of Second Liberty Loan Az
per cent bonds for the new 3h per
cent 5-year Treasury notes totaled
more than $1,350. 10000 when the
subscription books closed, which rep.
resents nearly A per cent Of the Sec
ond Az per cent bonds outstanding
on March 8. The Richmond Federal
Reserve subscribed for $30.71S,4O0 Of
the new issue.
Would Buy Rail Stock.
It was announced in Baltimore to.
day that the Western Maryland Rail.
road will soon make an offer for the
remaining block OF the roads stock
held by the alien property custodian.
Howard Sutherland, in behalf Of cer-
tain financial interests in the Monu-
mental City. 1t Is understood that
Mr.. Sutherland has received the con.
sent Of the German owners of these
securities to sell them when he thinks
the time Is propitious. Whether the
B. & o., which bought the other block
Of stock. is in the market for these
additional shares has not been dis
closed.
Convention Dates Set Today.
Sir John Russell, director of the
worlds Oldest and most famous agri.
cultural storehouse of practical farm
knowledge-the Rothamsted Expert.
mental Station at Harpenden. Eng
land-has been secured to speak at the
convention of the National Fertilizer
Association at White Sulphur Springs,
w. Va, June 9. announces Charles j..
Brand, executive secretary and treas
urer Of the association.
Dates Of the convention, which an
nually is attended by fertilizer manu-
facturers. soil scientists and agricul.
%r,s 1P L10
States of the Union, are set for June
6. 7. and 9. Mr.. Brand announced
here today.
Tax Collections Gain.
Tax collections for February totaled
500 ,150. 100, against sos, 072 BAT for Feb
ruary, 1926, Internal Revenue Bureau
states. Income tax collection for the
month, amounting to $49, $685. ALB,
showed an increase of $14 ,253,293 COM
pared with year ago and miscellane-
GUS tax collections. totaling $43, 200. TOT.
showed decline Of $19,175.520.
Collection OF internal revenue taxes
for the eight months ended with Feb
ruary. totaled 81 ,561, 697,857, an in
crease OF $21 ,020,60 over the CORE.
spending period last year.
Heard i'm Financial District.
The program committee arranging
for the regional savings conference to
be held here on April Z. and will
hold another meeting this afternoon
at o'clock. 1t was the opinion of
local bankers today that very strong
list of speakers had been secured for
the meeting and that an unusually
practical list Of subjects had been
chosen.
Txapfx, five 1>oxt. ,,,a~~ zo..~11koS
the organization of the Washington
Bank Women's Club following a din
ner at the Iron Gate Inn last evening.
The organization is open to any WON.
en- employed in local banks. and the
charter members are most enthusi-
astic over the outlook.
Personal and Other Notes.
President Robert v. Fleming of the
Riggs National Bank was back at his
desk today after recovering from an
operation for the removal Of his ton
sjls.
Eugene E. Thompson. head of
Crane, Paris & Co., is in New York
on brief business trip.
Oscar Coolican, manager of the local
Office of G. M. P. Murphy & Co., has
returned to the city after a short
business trip.
Thomas s. Southgate has been
elected a director Of the Norfolk e.
Western, succeeding +. s. Register,
resigned.
The directors of the Pennsylvania
Railroad authorized the appointment
Of Frank J. Fell. jr., as controller,
effective April l, succeeding E. A.
Stockton, who died March S.
McElroy Named Secretary.
James w. McElroy Of Baltimore.
has been elected secretary of the
Maryland Bankers Association sue
ceeding the late Charles Ham. Mr..
McElroy Is vice president of the Mer-
chants National Bank. Several speak
ers have already definitely promised