Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-02-20
LOCAL FINANCIAL NEWS.

Mr.. Norman Bestor has accepted the posi-
ton of assistant manager Of the branch of
the International Banking Corporation
which was recently opened on Connecticut
avenue In addition to the branch which has
been for some time here on G street. MI.
Bestor will be associated with Mr.. Murray
Cobb. who Is the manager of what Is known
as the uptown branch.
For the past thirty-eight years Mr.. Bestor
has been connected with Riggs Natinoal
Bank and with its predecessor. Riggs & Co..
and Is widely and favorably known In busi-
ness and social circles.
The annual report of the Chesapeake and
Potomac Telephone Company to the stock
holders has just been issued. According to
the summary which accompanies the hnan-
cial statement the company borrowed upon
its notes during the year $2.32oOOO, making
the total floating debt $1,024OOO.
The total value Of the real estate hold
ings, which are held by the American
Telegraph and Telephone Company, Is 81
217 .464. The capital stock is $26oOOO1 and
the bonded debt on December 81 last was
$1.344. 900. The report states:
THE debt and the investment by anotAer
company in real estate for this company 8
use have reached such proportions that 1t
will soon be advisable an" perhaps neces-
sary to make some adjustment of the COM
pany's finances. with a view to more
sound and permanent arrangement, and
that funds for future extensions, as the
business develops, may be obtainable. This
financial question will receive the careful
consideration which its Importance de-
mands.''
The report gives the earnings for the year
as 81 02,O76; the expenses as $l,s5S,oll; the
net earnings. 1898. 5O4. out of which the in
terest charges and depreciation, amount
ing to $o1I,S22, were deducted, leaving. a
balance to surplus of $1o6s1, which, to-
gether with the surplus of January 1, 1906.
amounting to 500, 800, makes total sur
plus on December 81. 1906, of $145,57S
The annual statement of the Washington
Alexandria and Mount Vernon Railroad
Company for the year 1906 recently issued
shows gross earnings of $273, IA; operat-
ing expenses. $147.s49.15; net earnings.
which dividend of 1 per cent was paid
January 2, 1907. The bonded debt Is
$1,S00.OO0.
There was nothing Of consequence that
occurred at the meeting today of the stock
exchange, and the volume of the trading
was about the same as has been recorded
for some days past.
A meeting Of the stock exchange was
held at the close of the call today, and after
discussion of the bill which was passed by
the Senate last evening to provide for the
incorporation of persons doing banking
business in the District and not coming
under existing laws, it was decided to make
a protest against the passage of this bill by
the House. committee of five was au-
thorized to be appointed to present this pro-
test to the proper authorities in the House.
1t was stated that the bill was Identical,
practically, in its provisions with the one
that was recently discussed in the House
and recommitted to the District committee.
Today's Government Receipts.
National bank notes received today for
redemption, 1894, government receipts
from internal revenue, S546.533: customs.
S1,540, O23; miscellaneous, $70,966; expendi-
lures, 81, 100000