Evening star., 1941-02-27
Capital Transit Co.
Declares Dividend
OF Is Cents
Payment to Be Made
April | to Holders
OF Record March IS
BY EDWARD C. STONE.

70 cents per snare on Cle OuISCdlu-
ing stock, announcement being made
in the following statement BY Pres
ident E. D. Merrill:
"The Board of Directors of the
Capital Transit Co. at the regular
monthly meeting held today, de-
clared a dividend of Is cents per
share on the common stock OF the
company, payable April l, 194l, to
stockholders of record on March l5."
The transit company paid 81
dividend in 1910, divided in Is and
rs cent payments. Today's action
was considered highly significant IN
financial circles as it may mean that
the stock will be placed on a per-
manent 25-cent quarterly basis. On
this point, however, no comment was
made.
Home Financing Up Sharply.
Pronounced gains in home financ-
Ing activity and the residential
real estate market we're brought
to light today in a report by Presi-
dent o. K. LaRoque of the Federal
Home Loan Bank OF WINSTON
Salem, which showed that building
and loan associations in this dis
trict made loans totaling s175,ooo.ooo
In 1910, an increase of 26 per cent
over 1889.
Over the same period, Mr.. La
ROGUE says, the total of non-tarm
real estate foreclosures in this ter
ritory shrank 81 per cent. IN al
most all indexes. the Winston
Salem district ranks high in COM
parison with the other II districts
in the Federal Home Loan System.
AS in the two preceding years,
building and loan association mem
bers of the Winston Salem Bank
registered the largest per cent gain
in total assets of any of the IL dis
tricts. The associations also scored
substantial increases in outstanding
mortgage loans.
Today's report reveals sharp
decrease in the volume of real es-
tate owned by member institutions,
a marked rise in investments OF the
public in these institutions and a
IS per cent advance in the volume
CT one ne-family dwellings constructed.
Total recordings of all non-farm
mortgages of $4,000 or less scored
a % per cent gain during the year,
greatest advance OF any district In
the system. The Winston-Salem
Bank serves the District Of Co
lumbia, Maryland, Virginia, North
and South Carolina, Georgia, Ala
barla and Florida.
Banks Expand Trust Business.
In his annual report, Controller
Of the Currency Preston Delano
G,c-es that development of trust
ec5iyitles in national banks is re-
fected in a substantial manner by
s..atistics compiled for the fiscal
vsar ended June 80, 1910, which re-
ycaled that 1,877 of these institu-
tens held fiduciary permits, with a
C?mbined capital of S1,159,877 645
I'D banking assets of S32,307, 1873, ,787,
r.Dresenting 1851 per cent of the
number, 75.47 per cent of the capital
end 8759 per cent of the assets Of
ell banks in the national banking
system.
Trust departments had been es-
tablished by 1,540 of these banks and
1877 ,629 individual trusts were being
administered with assets aggregat-
ing s9345, 1852. Seven hundred
and eighty-two of these banks were
also administering 1928 corporate
trusts and we're acting as trustees
for note and bond issues amounting
to s9,317,700,427.
Compared with 1899, these figures
represent an increase of 1,17S, or
OBS per cent, in the number of in
dividual trusts being administered.
an incl ease of SOL ,512 ,406, or 0.66
rer cent, in the volume of individual
trust assets under administration.
Market Reveals Rapid Growth.
j. M. Mehl, chief of the Com
r,odity Exchange Administration,
VINO has just reported the results Of
study in trading in wool tops on the
New York futures market, included
some interesting facts on the
growth of the market.
The New York wool top futures
market was set up by members of
the New York Cotton Exchange in
1881. 1t is the only such market in
the United States. OF small sig
nifcance at first, it has grown rap
idly during the past few years. The
volume of futures trading in wool
tops was l85,000,000 pounds in the
1910 fiscal year, an increase over
1889 or 185 per cent.
PENNSYLVANIA Railroad Net Up.
Details from the Pennsylvania
Railroads January report showing
net railway operating income of
S6,733,386, a gain of S878,05O over
January 1910, place gross revenues
at 42603 ,255, aaginst $38 ,495, TIA in
1910 and $32, 2,896,733 in 1899.
Freight revenues of 1888, ,624
registered a gain of $3,150,391 over
last year, while passenger revenues
were S726,8 ,879 higher. Express reve-
nues were not quite up to last year.
Railway operating expenses were
S2,618,575 heavier than in January,
1910.
Higher Commissions Opposed.
Many Washington brokers are
strongly opposed to any advance in
New York Stock Exchange commits
sions as now being suggested in
Wall Street. Several brokers ex-
pressed the opinion here today that
commissions should be lowered
rather than raised.
They feel that the cost Of, trading
In the stock market is too high
under the prevailing rates. Higher
rates might be prohibitive in many
cases. they say. Frequent COM
plants are heard about the present
costs of stock transactions.
If exchange firms are averaging
only 18 cents on each transaction,
as claimed in a New York survey
how do they remain in business?
That was the question customers
were asking here today.
Heard in Financial District.
Many Washington investment
dealers will attend the meeting in
Baltimore tomorrow sponsored by