Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-02-08
CAPITAL TRACTION STOCK GAINS
IMAGE OF VALUATION LOOPING

come generally known. At yester-
days session only one member of
the Exchange knew of the court
opinion and no mention was made of
it until after the market had adj
journed.
During today's trading leo shares
of Capital Traction changed hands,
and there were Is different transac-
tions. The market opened with a
sale of six shares at 104A. This was
under Saturdays close, the stock not
appearing on the board yesterday.
The next four sales were made at
104A. The stock then climbed to
1O43s, y and Is on 1o-share turn
overs.
On the next move lots of "a and 20
shares changed at the higher price of
105. The next sale was made at 1855,
and then came the closing sales of 30
shares at the high for the day of
1854.
Before the session opened some
market observers stated the belief
that the reduction in valuation would
at least temporarily depress the Capt.
tai Traction stock. Others took the
ground that the earning capacity had
not been affected by the court ruling,
and the quotations show that such
was the general opinion prevailing
after the market opened.
District National Bank stock sold at
242, Commercial National came out at
235 and Il shares of Merchants Bank
& Trust Co. appeared on the board at
1904. Fifty-One shares of George
town Gas Light stock sold at 691a.
Bond prices were firm and trading
was active. Washington Gas Gs, series
B, sold at 105; Railway and Electric 6s
registered 1882. Other prices were
unchanged.
Program Committee to Meet.
The program committee appointed
to arrange for the coming regional
conference of the savings bank divi-
sion of the American Bankers AS
ISOLATION, which gathers here in April,
will hold it's first meeting this after
noon. Howard Moran, president of
the District Bankers Association, is
chairman, and Harry V. Haynes,
chairman of the Washington Clearing
House Association, is vice chairman.
The other members are Francis G..
Addison, jr., vice president Security
Savings & Commercial; Victor B. Dey-
Der, president Second National; w. w.
Spaid of w. B. Hibbs & Co.; Robert
w. j. Waller, vice president Federal.
American; John Poole, president
Federal-Amsrican, and Joshua Evans,
executive vice president District
National.
The hotel and other committees are
to meet in the near future and get
their work under way.
Gas Company Has Fine Year.
The annual report of the Washing
ton Gas Light Co. shows that the net
corporate income in 1926 totaled
SIZE. 043.76, gain over 1925 of $751;
770.56. The dividend distribution for
the year amounted to $468,O00, and
the company set aside $25S,O43.76 to
add to the surplus fund. Operating
revenues for the year amount to
$5,283, 009.63 and operating expenses
to $780,, 061.21, leaving net operating
revenue of $1,675, 948.42.
The total amount of gas sold was
5,715, 1928 cubic feet, an increase
over 1925 of 400, S93,153 cubic feet.
OF total mileage of mains of all sizes
$50 miles are now in use, of which %
miles were laid during 1926 at cost
OF 5000 .001.14. The report also shows
that there were 5000 house service
pipes installed, street lamps in use by
1861, while with it's subsidiaries the
company has lis, 453 meters in SER
vice, 6,S57 more than a year ago.
President Ord Preston reported that
the home-heating gas furnaces are
proving successful and the company
expects expansion in the use of gas
for this purpose. Mr.. Preston also
mentioned the long experiments which
have been made in connection with
refrigeration plants in homes and
quoted engineers as believing that in
a few years gas will be extensively
used as a cooling agency in Summer.
Utility Bonds Offered Public.
The Allied Utilities Corporation.
with offices in the Mills Building, has
recently sold $500, 900 issue of first
lien and refunding per cent series
IA" gold bonds to Parsly Bros. & Co.,
Philadelphia. The bonds are secured
by deposit of 100000 of first mort
gage per cent bonds of the Noun
tain State Utilities Corporation of
West Virginia, together with all the
stock of this company. The proceeds
will be used for retiring purchase
money obligations and for the pur-
chase of additional properties.
The bonds are being offered to the
public at 81. at interest yielding about
GA per cent return, and are dated
November l, 1926, to draw interest
from that date.
The officers and stockholders of the
company are largely Neutrality-suspicious..
F. X. Weller is president, Arthur J.
May, one of the vice presidents, and
NJ. X. Wilberding. secretary and treas
urer, and Leo p. Harlow, general
counsel, are all residents of this CITY.
Appointed Bus Lines Counsel.
Randall T. Elliott and Henning c..
Nelms, members of the law firm of
Elliott & helms, have been appointed
general counsel of the Washington &
Shenandoah Valley Motor Lines, Inc.
Mr.. Elliott was also elected secretary
and member of the board of direc-
tors of the company, which is a SUBJ
sidiary of the Eastern Public Service
Co.
Good Insurance Year Reported.
According to the annual report of
the Sun Life Assurance Co. of
Canada, which maintains a Washing
ton office, the company wrote new
insurance in 1926 amounting to $685.
$40. 1t has assets of $345,251,-
TIA and total insurance in force
amounts to $1,256, 490,115, according
to President II. b. Macaulay.
Commercial Stock Issue Sold.
1t was reported today at the Com
mercial National Bank that the $780,
600 stock issues Of the Commercial
National Co. had been oversubscribed
anc that no further subscriptions
would be received.
W.. Il. & "A. Net Increases.