Evening star., 1942-03-17
Capital traction S.
Lead in Volume on
D. {. Exchange
SIC, 900 TotuI Exceeds
Turnover of Any
Other Bonds
By EDWARD C. STONE.

Wash ngton Stock Exchange in the
volume of trading so far this year
They have figured in an $4,000
turnover, are now yielding 3.85 pei
cent and are selling only half a
point under the best price in 1912
Washington Gas Light SIS are the
highest priced bonds in the list
selling recently at 127, to yield 3.15
per cent. Anacostia & Potomac
River R. r. guaranteed SIS sold re-
Gently at 1921. making the yield on
these bonds 200 per cent.
Two other bonds on the exchange
are selling at the same price, Ana
costa & Potomac r. r. modified
334s and City & Suburban Ry. mod
ified 334s, both issues moving at
1861 in recent sales. At present
quotations, they yield around 2.85
per cent.
Georgetown Gas IS, for which 100
is bid; Potomac Electric Power 3hs,
Washington Railway & Electric 4s,
City e. Suburban SIS and American
Telephone convertible debenture IS
have yet to register sales on the
exchange in 1912. On all these is
sues the bids are far above par.
OF the So bond and stock issues
listed on the exchange, 80 have al
ready appeared in the trading this
year, an unusually good record.
Transit Spends S4,005,552.
Additions and Improvements 10
property and plant of the Capital
Transit Co. in 194l cost $4,005 552,
retirements aggregated $408. .656 and
net additions to property and plant
totaled S3596,896.
Among the more important ex-
penditures was l,035 .59H and 81 1885,
424 for additions and improvements
TO streetcars and buses, respectively;
1921 .776 for new Benning carhouse
and track storeroom, including hand
and necessary trackage; S85, AL to
complete the new track on indie
pendence avenue from First to Sew
enth streets S.W., S37,139 for new
track loop at Eleventh and Mon
roe streets NV, $275.344 for other
track renewals and Improvements
and Sl42 645.75 for land for new
bus garages and terminal loops.
in making the gross additions OF
approximately $4,000,000 to its pro-
erty and plant account in 1941 the
funded debt of the company, in
Guiding bonds. notes and conditional
sale agreements, outstanding De-
cember 81, 194l, as compared with
the preceding year, increased
S1,442, ,431 to a total OF $16,9l3 300,
including installments due within
one year.
Fifth District Heads List.
The Federal Reserve Boards
latest comparisons show that the
fifth Federal Reserve district led
the other II in department store
trade gains from January l through
March T. The gain in this trade
area was 80 per cent.
Philadelphia district was close
second with a 80 per cent upturn,
while Cleveland stood next with an
upswing of 81 per cent, followed by
Boston with an improvement of 80
per cent.
Sales in the New York area were
up "a per cent, in Atlanta, Is per
cent; in Chicago, 27; st. Louis, 20;
Minneapolis, 25; Kansas City, "a;
Dallas, II, and San Francisco, o.
The average trade advance over
last year in the whole II districts
was % per cent, the report said.
Churchill Heads Program.
William H. Churchill, treasurer of
Peoples Drug Stores, Inc, will ad-
dress Washington Chapter, National
Association of Cost Accountants, to-
morrow evening at the Hamilton
Hotel on Some Phases of Chain
Store Accounting and Control"
Mr.. Churchill gained his first
business experience in st. Paul, and
for six years was chief accountant
for the government-ownedt telephone
system in the Province of Sas-
katchewan. Canada. He came to
the Income Tax Bureau in 1919, be-
came controller of Peoples Drug in
1926 and was made treasurer in
1910. He was Washington chapters
second president.
Seaboard Dividends Voted.
Directors of the Seaboard Finance
Corp, Southern Building, have de-
clared the regular quarterly divi-
dend of so cents per share on the
preferred stock, payable March 80
to stockholders of record March 20,
it was announced today. A divi-
dend of 20 cents a share has also
been declared on the common stock,
payable to stockholders of record on
the same date.
W. A Thompson, president of the
National Funding Corp. of Los
Angeles and Edward F. Parker,
chairman of the board, have been
elected directors of the Seaboard
Finance Corp. National Funding
Corp. operates 26 Offices in the Far
West.
Gas Stock Ruling Awaited.
Ruling by the Public Utilities
Commission on the request of the
Washington Gas Light Co. for au-
thority to issue 10000 shares of pre-
ferred stock, to pay $425 per share
dividends, is expected in the flnan-
cial district very soon. The request
has been delayed for more than a
year and the additional funds are
greatly needed by the company for
expansion, much of which has al
ready been carried out. 1t is pro-
posed to issue about $4,000 shares
Of the preferred stock this year.
The original preferred was issued
with the right to convert it into
common stock, provision similar
to that made by a great many other
companies in such cases. The con-
version plan was purely optional,
available at some future time. pro-
vided the common should have an
unusual advance. At the time the
preferred was offered. three shares
of common were selling lower than
the preferred, a. matter to which
the commission is giving attention.
Today's Trading on Exchange.
Capital Transit sold at 81 on a