Evening star., 1932-08-17
Trading on ID. c. Exchange.

Trading was light, but varied on the
local exchange today. Eight shares OF
Norfolk g. Washington Steamboat Co.
sold at 100. Potomac Electric 5ia per
cent preferred stock went at 103. On
the bond side, Washington Gas IS A
changed hands at go, Capital Trac-
ton SIS at so and Washington Railway
& Electric Is at 81.
The June net loss of the Southern
Railway increased from S449,619 for
the 1881 month to s1,617,190 for 1882,
while the six months net loss for the
two comparable half years increased
from S2.770,396 to S6,893,622, after
taxes and charges.
The balance sheet items as of June
80 for 1882 and 1881, respectively, fol-
low:
Current assets s21;sl!,ss. l2s5 .sssss 5sss $50
current liabilities. =. 15.l4s,3ls 2o,S24's35
bonds. etc. -, 2,4aa,7ls s,7sa.ss5
'other than those Of affiliated companies.
The Baltimore & Ohio Railroad has
asked the Interstate Commerce Com
mission for authority to issue $685.
$4,000 of refunding and general mort
gage bonds to refund an equal amount
of its 20-year Az per cent convertible
gold bonds maturing March /, 1888.
Describing the purposes of the new
bonds. the application states they are
for the purpose of exchanging, re-
deeming, purchasing, retiring, funding
or paying, at or before maturity" its
20-year convertible bonds
The application showed that the
roads board of directors authorized the
refunding operation August under the
refunding and general mortgage. The
new series of these bonds authorized
to be created, series F, will be IS, pay
able 1000. Series F bonds shall be
redeemable as an entirety on March l,
1912, at 1929, or on any interest date
thereafter to March /. 1852, at 101.
Questioned as to the significance OF
the Baltimore & Ohio's request to the
Interstate Commerce Commission for
authority to issue S63, $50 900 of general
and refunding mortgage bonds, rank
ing official of the road stated:
This application is preliminary
step necessary in order to have authority
to issue the bonds provided under the
mortgage against the 63,250, 900 con-
vertible bonds outstanding. due March l,
but has no immediate significance, as
nothing has as yet been determined as
to the proposal which may be made to
the holders of the convertible bonds"
Preferred Stocks Ownership.
In a study of ownership of preferred
stocks covering 100000 shares dis
tributed among 100000 owners. STAN
dard Statistics Co. of New York finds
that almost "a per cent of the holders
own 100 shares or less. Detailed figures
on the distribution are:
No of Per cent
Owners of Total
100 shares or less. s.......704,4 4,423 93.9
lOl 70 999 shares ...... 40,180 54
1000 or more shares -. 5,249 OF
749,s52 1000
New life insurance policies are on the
decrease, production being 23.5 per cent
less during July of this year than dur
ing July of 1881 The total for the
first seven months this year was 1873
per cent below the total for the same
period a year ago, according to the
Association of Life Insurance Presi
dents.
For July new business written by A
companies was S692 5000, against
s9O5 ,042 900 during July of 1881. New
ordinary insurance amounted to S448,-
488 900, a decrease of 259 per cent.
Industrial insurance was S206, ,64l 900, a
decrease of 1874 per cent. Group in
surance totaled S36,984 900, decrease
OF 1919 per cent.
For the first seven months total new
business of these companies was S.
71l,l37 900 this year, against $6,743,-
$4,000 last year.