Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-07-21
| AP|TAL FRACTION
STOCK IN ADVANCE
Gain of More Than Six Points
Made on Higher
A Car Fare.
BY EDWARD c. STONE.

DI EDNhAND ~ oANsND'
Chief interest in trading on the
v sShington Stock Exchange today was
oinned on Capital Traction stock. Il
being the first trading day since the
curt announced the ruling permitting
l0-cent fare, or four tokens for 80
ents
The stock jumped g., points during
he session, or rather since he closing
transaction last Friday at 60.
II opened today With single share
cling ct S., 5-point advance over
ne week end Members Of the En-
hsnge had beer united in predicting
m advance. but some did not look for
5-point jump on the opening sale.
This sale was followed by two small
a. les at the same price and then by
70 sales Of 80 shares each, also at So,
Zen more shares moved at this price,
ut after call the price began to go
s.ill higher.
Ten shares sold at 65i2, 10 at 65l4
Y Tile sales were then recorded at G5 ,
653s The next sales totalcd 40
arcs. at St. The days trading closed
IN IS shares changing hands at 66i4,
! aking the total turnover IT'S shares
Price Record.
Capital Traction stock opened the
gent wear at rs reached a high of
,. then dropped to So when the
vidend was cut to 4 per cent, and
-und up last week at 60. Traction
ncials expect A larger net with the
Increase in fares. Members of the
!. hange are divided in their views.
"a Baltimore Traction Co. incr ased
anueS on higher fares while Boston's
! cher fares were Offset by an in
y rial depression. While the advance
is less than l cent per token, the Of
fic' us believe this will be tremendous
he.
Exchange members called attention
to the fact today, that regardless of
II renues, the ruling definitely estab-
* hes the present valuations as sound
II til replaced by future valuations.
s, me local financiers also see in the
ring another step toward merger
" ,ich has recently seemed so far away.
)ther transactions at today's eX-
Ell nge session included yhc sale of
81 100 Capital Traction rs at 90,
W rgenthaler Linotype stock at 81,
st, emboat rights at Is and l6'e,
r. ,rsl-Amerlcsn Bank stock at 275
ar Potomac Electric Power So per
&C preferred at l05,
the bond department. Washington
ca Light and Washington Railway &
Elc tric issues were in fair demand at
rec It prices.
c. e. o. Net Income Lower.
1T income of the Chesapeake and
Oh Railway including the Hooking
va ". for the first six months of 1890
Is ,;276.i6S under that for the corr
res 5onding period of 1929 The net in
,~-,e for June was S177,4S3 lower than
fcr the same month last year, While
x; } revenue is considerably under the
revenue for the first six months
of 1929. the operating expenses we're
,n' 7riallv reduced. The operating ratio
OF the six months this year was $50
Vel cent, as against 66 per cent for the
r. six months of 1920. The operating
= , for 1890 was 63l as against IS
Sc, cent last year. Gross revenues for
r month of June, 1880. were Sll.35l,-
30 a decrease of $500. 403. Net railway
C'N 7ting income totaled $4,000. 1856, a
dec ease of 5000 from last June.
What Sound Credit Means.
''what 1t Means TO Establish Sound
Credit Standing is to be discussed by
pr. Stephen I. Miller. executive man
;er OF the National Association of |
edit Men, on the Halsey Stuart & |
q. radio program Wednesday night
The organization of which DR. MGlel
Is the head includes more than 25 600
znks, manufacturing and wholesaling
ms throughout the country The
basis of the national organization is
-
DR.. Miller is n recognized authority
IN the field of economics, as an edu-
Gator, writer and director of business
research. He was formerly dean of the
School of Business Administration at
the University of Washington and
served on the faculties of Leland Stan
ford University and the University of
California. He is the author Of several
text books on banking and finance.
Business Lays in District.
Based on debts to individual acA
counts business in the Richmond Fed
eral Reserve district for the second
week In July Jagged behind the previous
week and was considerably under the
volume for the same period last year
Additional construction projects for
which contracts were awarded in the
last few days assures the district of the
best month for the current year. Sew
eral large projects awarded last month
have been started and the effect on
employment will be marked
Manufacturing during the month will
slow down considerably, due to a num-
Der of large plants closing two weeks
for vacation. This is done regularly
in the ciga. ,tte industry. Railroad
shop work remains dull.
Agricultural conditions remain fair,
but crops will not como up to last
years yield, accoi din1 to present indi-
cations
Heard in Fina ,cial District.
Clarence 2. Normr t. chairman of the
board of directors Of The National Bank
of washington and OF the Norfolk e.
Washington Steamboat Co, is paying
his usual Summer visit to Atlantic City
l. j. Roberts. one Of the assistant
cashiers Of the Riggs National Bank, has
returned from his vacation passed in
Washington, Virginia and Johnstown,
Pa.
Robert c. Jones of G. M. P. Murphy
a. Co. reports that his son, who was so
seriously hurt in fall at his home at
Wesley Heights, is showing encouraging
improvement at the hospital. The lads
complete recovery is now expected.
June output of popular sized ciga-
rettes rises 9l0,s51, 524 over 1929 month
to 11,750 524523 total; large size cigars
decline to 1889 1855 from 556,745,375
in June, 1929.
United States June foreign trade
shows excess of exports Of $40 100000,
against 500 1892 900 excess year ago; six
months excess OF exports S344, $4,000,
against S3GL 1892, 900 year ago.