Evening star., 1935-02-17
NEW HIGH REACHED
BY TRACTION ISSUE
ON D. c. EXCHANGE
$42,500 Turnover at 95
Mark Recalls Bonds Rise
Since Merger.
BUSINESS STILL FORCES
AHEAD HERE IN MONTH
Store Sales, Clearings, Phone
Calls, Postal Receipts and Use
of Electricity Mount.
BY EDWARD C. STONE.

Capital Traction bonds hung up
new high mark on the Washington
Stock Exchange yesterday, not only for
1885. but for several years back. The
total turnover was also the largest for
Q single days session in long time.
Traction IS opened on a $1,000
transfer at 95, gain of full point
over the last previous sales in this is
sue. Two $4,000 sales, one $4,000,
one $4,000 block and a ST 500 trans
action were then recorded at the same
figure, making the days turnover
$42, 500.
Capital Traction bonds have been
very much in the limelight ever since
the merger Of the old Capital Traction
Co. and the Washington Railway &
Electric Co.'S operating properties.
During the long period Of falling
traffic before the street car merger the
bonds dropped steadily until in 1888
they sold as low as 40 and in 1884
Ut 81.
They climbed steadily during 1884
and opened 1885 at 80. On moderate
sales they moved up to "a, displaying
sufficient strength for the first time
yesterday to sell at 95. The gain of So
points from AZ is assigned to the new
deal in the street car revenue situation.
The only other bond sale yesterday
was in Potomac Electric Consolidated
IS, a 81 900 transfer taking place at
1o4st. In the stock division Capital
Transit sold at 25l2 and Potomac Elec-
tric Power 5la per cent preferred was
strong at 1l112. National Savings &
Trust stock sold TO the extent of 10
shares at 100.
Business Goes Forward Here.
Business in Washington is pressing
forward steadily, largely ignoring the
depression prevailing in other Sec
tions Of the country. January got
fine start for 1895. February indi-
cations are equally favorable.
Elsewhere in today's financial sec
ton are detailed figures covering the
leading barometers picturing business
conditions here. Compiled yesterday,
they reveal substantial gains in re-
ceipts in the Washington Post Office
over January, 1884, as well as over
almost all recent months. December
postal receipts, with the Christmas
rush included, were naturally higher.
The Potomac Electric Power Co.'S
January kilowatt hour report for the
District shows a very marked gain
In the demand for electricity, as
compared with sales in January, 1884.
January, 1885, kilowatt- sales
totaled 47,724,426, far above 1884,
1888, 1892. and nearly double the
January sales in 1891 of 25.899, 9,533.
January check transactions in the
Washington Clearing House were $l3,-
S29 ,626 ahead of January, 1884, also
better than all other months in 1884
except December. There was a sub
stantial gain in the number of tele-
phone calls in January and an in
crease OF 1922 telephones in use.
The department store sales index
kept up with the other barometers,
the index number standing at 816
against 1913 in January, 1884, and
better than In the similar months in
1888 and 1882.
Harvard Man to Speak.
Thomas H. Sanders, professor of
industrial accounting in the Harvard
Graduate School of Business Admins
tration, will be the guest speaker at
the February meeting Of the Wash
tngton Chapter of the National Asso-
citation of Cost Accountants next
Wednesday evening. Mr. Sanders will
discuss the Accounting Require
ments Of the Securities and Exchange
Commission Reports"
Mr.. Sanders Is a graduate of the
University Of Birmingham, England,
and holds a doctors degree from
Harvard and is past president of
the National Association of Cost Ac-
countants. He is also research secre-
tary for the Committee on Statistical
Reporting and Uniform Accounting
for Industry. During the past several
months he has been working with the
Securities and Exchange Commission
rs consultant in respect to the form
and content of the accounting and
financial reports required by the COM
mission.
The meeting will be held at the
Carlton Hotel and the technical dis
cussion will begin at 7:45. Accountants
and others interested in the subject
ere invited to attend.
Heard in Financial District.
The regular meeting of the safe
deposit section Of the District Bankers
Association will be held next Wednes-
day night in the board room of the
American Security & Trust Co. There
will be a general discussion of timely
topics, Secretary John F. Hillyard an
nounced yesterday.
The February number of Dollars
and Sense, edited by A. E. Henze Of
Washington Chapter, American In
stitute Of Banking, appeared in the
financial district yesterday. An i'm
portant announcement Is that the
Bankers Association will sponsor an
essay contest this year among the
banking students. after lapse Of
several years. The winners will 60 to