Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-27

Inc DID was raised 81 $50
steadily until at 88
an owner was william n Hoover
found VIII o was
willing to part with his stock. Since
that sale, however, it has taken still
higher bids to bring out any further
shares.
Local market observers make no at
tempt to anticipate any court ruling,
but consider the Baltimore traction rul-
ing on a 10-cent fare as highly impor-
tant and believe it is being reflected in
the action of Capital Traction. The
stock turned upward when the Capital
Traction directors fixed the last quar-
terly dividend at per cent, cutting
only / per cent off the old rate. Since
it turned the corner at rs its improve
ment has been sufficiently rapid to re-
call the days when it often led the local
market IN trading volume and also sold
well above par.
Bank President for FL Years.
william D. Hoover is another prom
inent local banker who has Just been
reelected by his directors for the COM
ing year. Mr.. Hoover has been at the
steering wheel of the National Savings
g. Trust Co. for the past 81 years, hav-
ing taken charge of the institution in
January, 1909. For seven years prior to
bank in the capacity of attorney and
trust officer, to which position he was
elected in 1902
Before associating himself with the
National Savings & Trust, Mr.. Hoover
was for five years vice president and
director of the Real Estate Title In
surance Co., still retaining membership
on the board. Born and educated in
the National Capital, he is graduate
of the Georgetown University Law
School. After being admitted to the
District of Columbia courts he decided
not to enter private practice, but to
use his legal knowledge in service of
the financial institutions with which he
has been connected.
Mr.. Hoover is a director in the Nor
folk & Washington Steamboat Co.,
thirty-second degree Mason, member
Of the University Club, leader in the
Chevy Chase Club, as well as member
OF the Metropolitan, Lawyers and other
similar organizations. He attends the
Episcopal Church. Under his leader
ship his bank has shown splendid
growth.
b. e. o. December Net Of.
In its reports of operations for De-
cember the Baltimore & Ohio Railroad
showed decrease in net operating in
come of $l,250.778 from that of De-
cember, 1928. Net operating income for
the year was $203, 606 under that of
the previous year.
Railway operating income for the
year amounted to S49, I84,IIO, against
S49,387,716 in 1928. There was an in
crease Of $8,273,958 in freight revenues
In 1929, but passenger traffic showed a
decrease Of 81 ,573 ,504. The revenues
from mail carrying were up $1,618,95
during the year.
Expenses for maintenance of way and
structures showed an increase of, dur
ing 1929, of $3.50, 394 and the main
tenance of equipment showed an in
crease of $4,361 1878 over 1928. The de-
crease in net operating revenues for
the year of little over 100000 is
very small when the size of the Balti-
more & Ohio Railroad is considered.
C. & o. 1929 Revenues Larger.
Gross revenues of the Chesapeake &
Ohio for December, reported today, were
$1o,573,627, an increase of $422,039 over
December, 1928; operating expenses
OBS, as compared with December, 1928;
net railway operating income is ST.
S57,535 decrease of $796,563 over De-
cember OF the previous year. Net in
come after all charges for December
1929. was S2,531 ,433, a decrease of
$685. 43. The operating ratio was 65.5
per cent, compared with $50 per cent
for December, 1928, or an increase of
los per cent.
For the IL months ended December
81, 1929, the Chesapeake & Ohio Rail-
way shows gross revenues of $129, 49,
lis, an increase of S4,953, 943. Operat-
ing expenses were S85,5l4S57 an in
crease of S2,971 $685. net railway operat-
ing income was $37, 1871 ,633, an increase
OF $l,558,039; net income after all
charges is $32,069,273, an increase OF
S3,2l,l7O. compared with correspond
ing period OF 1928. The operating ratio
for the period was 65.9 per cent, a de-
crease OF per cent, as compared with
same period a year ago.
Admitted to Bankers Group.
The local firm of Waggaman, Brawner
d Co., investment bankers, was admit
ted to membership in the Investment
Bankers Association of America, at the
closing meeting of the board of governors
at Atlantic City Saturday 1t was the
slxty-elghth meeting of the governors
and nine investment houses were admit
ted to the association, the other eight
being from as many different sections
Of the country
The associations representatives. mum.
bering IS and affiliated with some of the
most important investment banking
houses in the country, we're firm in thu
opinion that the adverse business reac.
ton to the October November stocl
market collapse has now passed the low
mark, and that the remainder of thu
year will disclose a gradual upward
movement in general business. This, i
was said, will be stipulated to a largl
extent by comparatively easy supply
of money for legitimate business need
at reasonable rates.
Other factors embracing their par
ticular line that are interpreted opti
mistically by the bankers are the fun
damental soundness of investmen
banking houses, stabilized interest rate
and the continuing capacity of the gen
eral public to invest.
Trading on ID. C. Exchange.
Ten shares of Riggs National Banl
stock hold at $40 on the Washington
Stock Exchange today. Ten shares o
Bank of Bethesda changed hands a
IS. Washington Gas Light stock fig
ured in a six-Share sale at 108.
National Mortgage & Investmen
preferred moved at and 40 shares o
the Carpet Corporation sold at "a, of
from the last sale. MergenthaIer Limo
type figured in a 40-share turnover a
1861, same as the last transaction.
Bond trading was confined to
$1,000 transfer in Washington Gas 6.
series A, at 1O3 and two 81 900 sale
in Washington Railway & Electric 4
at 1914 and 831z.
Armour & Co. of Illinois and Armou
e. Co. of Delaware, have declared reg
ular quarterly dividends of SITS on tn
preferred stock, both payable April / t
stock of record March 10.
Eugene E. Thompson, head Of Crane
Paris & Co., is in New Orleans al
tending an important meeting OF tn
Associated Stock Exchanges, of whic
organization he is president