Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-06-09
CAPITAL FRACTIONS DIVIDEND
ACTION IS EAGERLY AWAITED
Liberal Policy of Directors Recalled as
Time Approaches for Regular July Dis
bursement-Fare Situation Reviewed.

gained, when direct bear pressure was
exerted on Capital Traction in order to
bring the price nearer the going value
of the Washington Railway g. Electric
that a merger might be the more easily
accomplished.
In some quarters 1t is held that the
traction company would be in a much
better position to sustain its position
in an application for permission to in
crease fares II its dividend rate was on
a lower basis.
Should Help Utilities.
The recent decision of the United
States Supreme Court overruling the
Interstate Commerce Commission in
deciding that physical valuations of
carriers should be based on replacement
cost at the time Of computing value,
should be of value also to utilities.
Indeed, that view has been held effec-
tive for some time.
The Squirt in Gas.
Just why Washington Gas shares
should squirt from around ITO to 112
to 1874 bid. 125 asked on sales of a
few odd lots is more or less Of a
mystery. Apparently the buyers were
Indifferent as 70 the price they paid
for the small lots.
It was stated earlier in the year
that the buyer of some 10000 shares
of the 10000 shares capital stock and
who was given representation on the
directory of the company, might, II he
desired, acquire the holdings of all
officials of the company and others at
125 a share. Some large holders Of
the stock will not be a party to sale
at the price quoted.
d xr,tN to AA u.
parties back of the purchase of 10000
shares, probably some big outside cor
poration, have decided to accept this
offer.
1t is expected that there will be a
large attendance Of past presidents Of
the District Of Columbia Bankers As
ISOLATION at the regular weekly luncheon
of the lunch group Wednesday when
gold insignia will be presented to
former heads Of the association.
An enforced absence Of some Of the
leading bank men will be made neces-
sary by illness. Messrs. c. c. Glover
confined to their homes, a matter of
deep regret to the younger men who
are in Office at this time.
1t is hoped that this gathering will
revive the interest of some of the former
officials in the association, a much to
be desired consideration. and perhaps
induce them to attend the annual con-
vention now but 10 days away.
There Is sure to be a large represen-
tation of bankers and their friends at
the Montauk Point gathering and the
best of times is expected, and this goes
for the entertainment to be offered also
The luncheon will probably be the
last before the convention, the close Of
which will inaugurate the administra-
ton of Willmar j. Waller and close
that of r. " Fleming The latter has
made most efficient executive and has
presided at the weekly gatherings with
satisfying ability.
The Second Convention.
The second annual convention of the
association was held on the S. S. Mid
land Of the Norfolk e. Washington line
Thursday morning the bankers and
their guests found themselves anchored
at Yorktown, Va. A visit to the little
town and historic points occupied part
of the day, the program was carried
out and just before o'clock the boat
sailed to Norfolk.
That evening the bankers of Norfolk
entertained in royal fashion at coun-
try club north Of the city--a most I'M
expected and beautiful spur-of-the-
moment affair.
and part Of the afternoons while the
steamer sailed around in the bay and
the roads. The guests visited the great
works at Newport News,
danced and we're otherwise entertained
evenings and arrived home safely Mon
day morning.
It was voted A most successful affair