Evening star., 1936-07-18
INTEREST SWINGS
TO TRANSIT STOCK
Advance to New 1886 High
Ground Comes With
Broader Trading.
BY EDWARD C. STONE

Capital Transit stock jumped into
the limelight on the Washington Stock
Exchange this week, reached new
high mark for the year at 1712 and
showed a notable share turnover.
The stock opened the week Monday
at 1871, the same price at which there
had been many sales during recent
sessions. The stock remained quiet
until Thursday when the market
opened with 59-share sale at the
new peak of 1712, followed by 10
share sale and 50-share transfer at
the same price.
This 119 share turnover was fol-
lowed the next day with another So
share sale and smaller transfer at
the same price. The transit stock
closed the week with II bid and 18
asked. Because the stock Is so widely
held in Washington, the new 1886 top
price on the local exchange board
caused a good deal of talk in the
financial district.
1t was noted that the stock turned
active while the hearings were being
held before the Public Utilities Com
mission on Capital Transit's plea for
higher car fares. Evidently some
people interested in the stock be-
lieve that the company will get some
kind of financial relief from the COM
mission. Increased fares would. of
course, have a great deal to do with
earnings. At the same time compile
tion of the extensive track changes
will mean considerable reduction in
expenses. These and other factors
are being taken into consideration by
those concerned with the stock.
Keene Makes Steady Progress.
The latest report by Receiver Carter
B Keene of the closed United States
Savings Bank. shows steady progress
in liquidation of the assets. Re-
manning assets are estimated at $685.
D66.60, with unpaid liabilities of $719,-
e5l6l, on June 80.
The bank has already paid dividends
OF so per cent to the depositors, with
S6l4,798 still due depositorS and S105,-
l52 due the Reconstruction Finance
Corp.
Income from interest, premium,
rents, etc amounts to S214883.l5,
which is larger than the cost of
liquidation, listed at s117,60329 Sc
cured liabilities have been paid in full,
st99,193.12.
The book value of remaining assets
Is listed at 1897. 1881, and the esti-
mated value of these is placed at
s556, ,066.60.
d. c. Clearings Go Higher.
Checks passing through the Wash
ir2ton Clearing House Associa ton
showed another substantial gain for
TIE week ended Wednesday. July IS.
Ire gain over the same week in 1885
Was 1l9 per cent. The gains in the past
to weeks indicate that July will
hang up a fine record and give the
tc al for the first seven months of
1886 an extraordinary boost.
Washington clearings in this latest
week totaled S22. .566, ,431.55. The per-
ccntage gain was better than the ad-
vance of 78 per cent reported by the
Baltimore Clearing House or the 81
pcr cent climb at Richmond over the
figures year ago.
strict cities. Washington was not up
with the 18 per cent gain reported by
A lanta and the "a per cent jump in
earrings at New Orleans.
New York made such poor show
irg that clearings for the whole coun-
t. were IA per cent under last year S
r-,rk.
Election Years Good Years.
The Washington Association of
edit Men has received the monthly
review from the national executive
n nanager. Henry I. Hermann in which
h. says that business so far this year
proves that election years during
b'siness upswing are good years.
The upward movements in the vari-
Gus fields of business have been stimu-
IL ed by the spending of bonus pay
monts, a rise in farm income and divi-
dond payments, and generally expand
ii'G purchasing power.
The rate OF acceleration may be
c'ccked in the next few months. the
o7icial says, because of the drought,
lGosr situation, rise in food products
a \ iLASllCI Ia|NCo'
He noted a recent tendency in in
81 .llment selling toward a continuous
frightening of payments, and issues
warning against spreading such
payments over too long a period.
There is always a chance of reduc-
ton in buying power, he says.
The credit expert is convinced that
the bonus cash was not dissipated as
was the case several years ago. A
greater portion of this money seems
to have been held in reserve to meet
emergencies, he asserts.
Seaboard Reports Earnings.
The Seaboard Finance Corp, with
headquarters in the Southern Build
ing, has just sent reports to stock
holders covering the last quarter and
the last nine months. The report
shows substantial progress. Total in
come for the nine months was $344,-
0j7 and for the quarter ending June
80. S143828.
Total operating expenses for the
nine months were Sl43, ,450 leaving
an operating profit CT $200,607 and g
net profit balance of S154,823.
Total operating expenses in the last
quarter were $60,446, leaving ar
operating profit of $83, 1892 and a ne
profit of S63,l26.