Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-07-28
CAPITAL TRACTION
I SCORES NEW HIGH
Stock Sells Up to SO in Light
Il Turnover on D. c.
Exchange.
BY EDWARD C. STONE.

today Capital Traction stock made Q
new high on the present advance which
started after the announcement of TIT
increase in carfares. The gain was frac.
tional the stock selling up to SO for the
first time in several months. The turn
owe? was light, odd lot sales totaline
IS shares.
The week opened with much activity
in Norfolk 81 Washington Steamboat
rights. The first sale was made at 1871
and the rest at Is, the days turnover
reaching 90 rights. The date on which
the rights expire is rapidly approaching
One hundred and ten shares of Mer-
chants Bank & Trust Co. stock came
out at 1875, Merchants Transfer &
Storage common moved at 108 end the
preferred stock of the same concern
at 96la.
Mereenthaler Linotype figured in
small sales at 96l4 and 96i2 and 1854
at the close. Potomac Electric Power
ST. per cent preferred changed hands at
106ia and 100.
Only three issues on the local ex-
change are now being quoted eX
dividend, National Savings & Trust,
American Fire Insurance and WASH
ington Gas Light.
Sound Banking Condition Shown.
r. N. Sims, secretary-treasurer OF
National Association of Supervisors OF
State Banks, has submitted to the asso-
citation statement which shows in
detail by States the capital, surplus and
undivided profits, deposits, loans and
discounts, stocks, bonds and securities,
and total resources of all State banking
institutions of the United States, to-
Sether with totals of these items of the
national banks, as of March 81, 1880.
The report OF Mr.. Sims covers the
available accurate and detailed data OF
the State banking institutions COM
parable with the report of the con-
national banks.
Mr.. Sims said: "The figures are very
gratifying and reflect, as a whole, a
healthy condition of the banking In
situations of our country.
ION March 81. 1880, there were
24,6l4 banks, of which 1928 were State
and 1915 national banks, showing total
capital, surplus and undivided profits of
s9,963, 322, ass; total deposits of $57,446,-
0o0,535. and total resources of $72,-
O3S.566,271.
Total resources all Federal Reserve
member banks March 81, 1880, were
S45. 9O2, $3.50, 900 of which national banks
March 81, 1880. were $27 ,348, 498 900, or
1888 per cent of total, while those of
State member banks March q, 1880,
were $lS.553, 1862 900, or 40,42 per cent
of total
Utility Earnings Grow.
One outstanding reason for the high
favor in which public utility securities
are held by the investing public is the
fact that, regardless of the general
trend of business, the utilities keep
forging ahead steadily year after year,
recording new high totals IN output,
In income and in earnings, says j. A.
w. Iglehart & Co. s
The records for 1880 are no exception
TO this rule. For example, production
of electric light and power by central
stations throughout the United States,
as reported to the United States Geolo-
gical Survey, is at the rate of S,14O,-
10000 kilowatt hours per month-the
highest rate of electricity output ever
recorded in this country. This 1880
figure compares with an output of
1880, 100000 kilowatt hours for the
corresponding months of 1929, showing
q gain for 1880 of about 4 per cent.
From 1921 to 1880 the power output Of
utility plants has increased lab per cent.
Gross and net earnings for 1880 like
wise show a healthy increase. The 95
large utility companies which report
regularly to the Department Of Com
rnerce, report monthly gross revenues
for 1880 of $205, $50, 900. which compares
with 98,500,000 monthly in the like
period of last year. Net earnings for
1880 average S91 600 900 per month in
comparison with SS9,00o,0O0 per month
for 1929, and with $64,260,00 i've
years ago.
Cleaned in Financial District.
Robert " Fleming, president of the
Riggs National Bank, leaves Washing
ton later this week for a months vaca-
ton at Spring Lake, N. j.
Joseph Sanders, vice president and
director in the Bank of Commerce g.
Savings, entertained other officials in
the bank at his Summer home, on
Chesapeake Bay, over the week end.
Irving zirpel, secretary and assistant
trust officer of the Union Trust Co., is
on his annual vacation. He has been
spending most of his time at the estate,
on West River, of Edward j. Stellwagen,
president of the bank.
c. j. Gockeler, vice president of the
District National Bank, has secured q
cottage at Ventnor City, near Atlantic
City, for the month of August He will
be accompanied by his mother during
bis vacation.
F. P. H. Siddons, secretary of the
American Security &c Trust Co., Is on
his annual vacation. He motored to
New England, and will spend consider
abel time at the Summer home of his
father, Justice Siddons, on the Maine
coast.
c. Elmer Father, assistant treasurer
OF the Union Trust Co., is on his an
nual vacation.
Frederick H.. Cox, cashier of the
Commercial National Bank, returned to
his desk today from his vacation, and
Vice President Walter j. Harrison start
ed of on his yearly outing
Howard Moran, vice president of the
American Security d Trust Co., expects
to leave here the last of the week fol-
his vacation, In order to get cooled of
he plans to go to Boston and sail from
that port for Newfoundland where he
will take an extensive land tour.
H. G. Hoskinson, one Of the vice
presidents of the Riggs National Bank
6 due back from his vacation some time
this week.
Earnings Reports Assembled.
The washington Office of B. r. Keech
e. Co. is distributing special news
bulletin on leading corporations which
the brokerage house believes will have
as good earnings in 1880 as in 1929
perhaps better. second group Is in
Guided of industrial corporations which
have had few Interruptions in expand
ing earnings in the past two years
While the firm does not urge the pur'
chase of these particular stocks, theil
records are considered OF much inteers
TO all investors.