Evening star., 1938-12-02


Salem, Va, where he received his
education, Mr.. Beerbower entered
the banking business as an employe
of the Farmers National Bank in
Salem. He went to the First Ma
tional Exchange Bank at Roanoke
as auditor and was soon made as
sistant cashier.
Active in the affairs of the Virginia
Bankers Association, he has served
as chairman of the Educational
Committee, secretary of Group Five,
and was treasurer of the association
at the time of his election to his
present position. In the American
Bankers Association he has been
q member of the Educational Com
mission and has served on the Bank
Management Commission.
Transit Earnings FORECAST.
Holders of Capital Transit stock
are now forecasting that the COM
pany will earn 81 share on the
stock during the present year, per-
haps a little more. For that reason
many have expressed the hope that
some kind of a dividend might be
declared before the end of 1888.
Officials, however, are silent on the
subject.
In the first 10 months of this year
Capital Transit earned total net
profits of s193,l24, more than dou-
BILE net income in the first 10 months
of 1887. Should the total net in
come for the last two months of
the year reach $4,000, which is
considered conservative estimate,
the years net would stand at
little over $243O00. 1t takes $24O,O0O
for earnings of 81 per share.
The traffic figures for october
were considered especially signifi-
cant. For the first time this year
the company's cars and buses car
ried more passengers than in the
corresponding month of the previ-
Gus year in the same number of
business days. For several months
the gap has been steadily narrowed
down until the actual reversal in
trend came in October.
The November report will show
extra expenses for handling snow.
No doubt the weather caused some
increase in traffic at the same time.
This months Christmas rush will
be the deciding factor in the years
final results.
North American Stock on Sale.
Early next week 375, 900 shares of
North American Co. common stock
are to be placed on sale all over
the United States by large Syndi-
cate of underwriters. Among the
underwriters are two local invest
ment firms, Y. E. Booker & Co. and
Johnston, Lemon & Co. Other COM
panies with Washington offices are
also in the long list.
None of the proceeds from the sale
will accrue to the North American
Co., as no new stock is connected
with the sale. The stock is being
made available by the American
Cities Power & Light Corp. and
Electric Shareholdings Corp-two
investment trusts-in order to escape
that provision of the Public Utility
Holding Company Act which defines
a holding company as any one hold
ing in excess of 10 per cent of the
voting power of a public utility
company.
The stock is being sold to bring
these companies under the 10 per
cent limit. The price of the stock
is expected to be the price prevail
ing on the New York Exchange on
the day before the offering is made.
Slattery, Accountant, Feted.
William Lee Slattery, controller of
the United States Post Office De-
partment and president of the
Washington Chapter, National As
sociation of Cost Accountants, was
initiated an honorary member of
the Maryland Chapter of Beta Alpha
Psi at the University of Maryland
Wednesday evening.
Honorary members of the National
Accounting Fraternity are selected
for outstanding accomplishments in
accounting.
Robert w. King OF the Farm
Credit Administration and program
director of the Washington Chap
ter, National Association of Cost Ac-
countants, attended the ceremonies.
d. C. Realty Bonds Improve.
Charles R. Connolly, manager of
the Washington Office of Burr & Co.,
reported today that 10 real estate
bond issues in the Capital had scored
a gain of 109 per cent in the past II
months.
During November $50 issues in
the Burr averages covering Eastern
cities increased IL per cent. Wash
ington issues were up So per cent
and Miami, up 3.9 per cent, had the
best increases during the month,
The average gains in the $50 is
sues in November brought about the
highest levels in the past seven
months, the report says. All types of
properties participated in the No.
vember advance, theater issues lead
ing. Apartment house issues came
second.
T0day's Trading on Exchange.
While there were plenty of bids
for other issues, Capital Traction IS
got all the sales attention on the
Washington Stock Exchange today,
a $500 transaction appearing on the
board at 8312, unchanged from the
last previous sale.
Peoples Drug Stores common and
preferred stocks have been added
to the ex-dividend list, both dividend
payments being due in few days.
The last bank stock sale on the
exchange was yesterday, when
American Security g. Trust Co.
shares sold at 249.
The first sale in Capital Transit
stock after the October report ap.
peared registered 8as. followed by q
sale ct 81.