Evening star., 1937-07-22
D. c. AUTO TOTAL
CLIMBS SHARPLY
1886 Registrations Placed
at 1888, Compared to
171,464 in 1885.
BY EDWARD C. STONE.

we'll as their Importance to the busi-
ness life of the Capital, are vividly
pictured in the 1887 edition of Auto
mobile Facts and Figures, recently dis
tributed here.
New high levels were reached by
the motor industry in 1886 and the
first four months Of 1887, the book
published by the Automobile Manu-
facturers' Association states. During
the first four months of 1897 retail
sales of passenger cars and trucks
in the United States chalked up a
new high for the first four months
Of any year.
Total motor vehicle registrations
give the District of Columbia's total
as 1889. In 1881 the city had
1859; in 1882, l61,l76; in 1888,
149.79o; In 1884, 163,o7O, and in 1885,
I'll ,464
In 1896 Maryland reported 378,472
registrations. and Virginia had 417,-
463. West Virginia reported 280,015,
North Carolina 504,5l7 and South
Carolina 276,829 Passenger cars alone
in the Capital in 1886 saw registra-
tions reach 1892, while truck totals
mounted to 1887.
Motor vehicle registration receipts
held up we'll throughout the depres-
sion. Such receipts in 1881 totaled
S623,4 remaining above that figure
every year until they summed up to
$963000 last year. The Capitals
gasoline tax receipts in 1882 amounted
to s2,035,497 and at the end of 1886
had gone up to s2,382 900. The total
gas tax receipts for Washington from
1909 to 1886 was S20,306,679
Until 1882 the Capital had no trail
er registrations, the total that year
being 607. In 1888 the total had
climbed to 1,1l2. in 1884 to 1859, in
1885 to 1877, and by the end of 1886
had gone up to 1,843 Trailer reg
istrations in Maryland, Virginia and
West Virginia also reveal some very
broad advances in the same period,
the book states
S25,000,000 Issue Due Soon.
Building and loan association Off
cials in Washington are showing
good deal of interest in the Federal
Home Loan Bank systems coming
offer of s25 100000 of debentures, to
be placed on the market some time
next week.
The last issue OF Home Loan Bank
debentures was offered in May and
paid 1l2 per cent. 1t is probable
that the rate on the forthcoming
issue will be lower than that Build
ing and loan associations in Wash
tngton make their subscriptions
through the Home Loan Bank at
Winston-Salem 1t is expected that
the new issue will be due in slightly
less than a year, although all the
details have not yet been settled
Early in May. the Federal Home
Loan Banks sold the first block of
100000 Go debentures. These
securities, due in one year. were priced
at par and attracted largescale buy
ing orders from commercial banks
and others. They have commanded
premium since that time and are
now about on a basis of 0sOeo bid
and 0.73eo asked.
Until that operation, the Federal
Home Loan Banks had obtained funds
solely through subscription to their
capital stock by the United States
Treasury and member institutions.
These member institutions comprise
building and loan associations. savings
and loan associations, cooperative
banks, homestead associations, insur-
ance companies and savings banks.
Seventeen Washington building and
loan associations are connected with
the bank at Winston Salem. of which
E c. Baltz of the Perpetual Building
Association, is vice chairman of the
board.
Finance Stock Offered Today.
Johnston, Lemon Co. of this city
and three other underwriting firms
are offering today 10000 shares of 50
cumulative dividend preferred stock of
the Seaboard Finance Corp, priced at
$30,50 a share. The stock is being
sold through prospectus. The Sea-
board Finance Corp. has many Offices
In important cities in Virginia and has
recently engaged in a good deal Of
business expansion.
The preferred stock Is convertible
into 81 par value common stock at the
rate Of three common shares for one
preferred until December 81, 1899. and
two and one-half for one thereafter
until July l, 1912.
D., II
The large number of Washington
holders of Pennsylvania Railroad stock
received dividend checks for SO cents
a share in the morning mail. The
checks covered the dividend declared
on June 10 to stockholders of record
on June 2l. 1t was the 205th dividend
paid by the company. The matter of
dividends will again be given con-
sideration toward the end of the year,
when the results of the years full
operations will be more definitely
known, said the letter accompanying
the checks today.
By that time, the letter says, the
effects upon earnings of excess crew
laws enacted in various States served
by the company, wage and rate prob
lens, other legislation and taxation,
and general business conditions, can
be more definitely aseertained.
Bonds Listed on Exchange.
The issue of 100000 Columbia
Country Club first mortgage 414 per
cent bonds, due June /, 1857, was listed
on the Washington Stock Exchange
today. The opening bid was lO3. with
none offered at any price. The bond
listing was the first since Lincoln Serv-
Ice Corp. common and preferred stocks
were put on the board.
Capital Traction IS sold on the ex-
change today at IS and $1,000 City g.
Suburban SIS came out at 76 Capital
Transit stock was unchanged at 1914.
A small sale of Potomac Electric
Power 5l2 per cent preferred stock was
recorded at 113.
Financial District Notes
E. c. Baltz, secretary of the Per-