The Washington herald., 1911-10-03
Staples Stag Hotel.

Staples Stag Hotel.
o. G. Staples, capitalist and proprietor
of the old Riggs House, will build a nine
story hotel, for men only, on the north
side of F street, between Fourteenth and
Fifteenth, the ste being the Cruit prop
erty, almost directly opposite the New
willard Hotel
Col Staples yesterday said he was nego-
tiating with Joel Hillman, proprietor of
Harvey's restaurant, to whom he will
lease the property. Building operations
will commence within the next thirty
days, 1t is expected.
Plans have been drawn by Appleton P.
Clark. jr. The structure will contain l2o
rooms.
VIII Increase Capital.
The Commercial Fire Insurance Com
pany is authorizing another increase In
its capital stock. in the amount Of 15o,-
900 shares. which stock is to be sold at
80 per share-twice par-in order to pro-
vide a substantial increase in the surplus.
The Commercial was chartered under
the laws of Congress, in 1890, twenty-one
years ago. with a cash capital of $780,
900. On June u, 1911, the cash capital was
increased to $125, 600, and on August p, 1911.
further increase in the capital to $780,
600 was authorized. and is now being sub
scribed and paid for.
This new authorized increase Of l5o-
900 shares will give the Commercial
capital of $1,000 900 and a surplus Of ap-
proximately sl,OOOOOO. which will make 1t
one of the largest capitalized fire in
surance companies in the country. Com
panles of this size receive an average of
from s4,OOO.O 900 to 100000 a year in premi- |
ums, and last year earned an average !
of 40 per cent, net, on their capital stock. !
The Commercial Is placing its increased
capital stock among property owners IN
the States where the company is oper-
ating or intends to operate, and in linn
Iited amounts This insures TO the COM
pany a widely distributed body OF stock |
holders whose cooperation will be
strong influence in the upbuilding OF the
business.
The directors OF the Commercial, which |
include some of Washingtons most prom
inent and successful business and pro- |
fessional men, are all very enthusiastic
over the progress which the company is
making in developing its business, nation !
ally. The premium income OF the COM |
mercial Is now running at the rate OF
more than 400 per cent ahead OF last year. !
Robert n. Harper, president OF the Dis
trict National Bank, and chairman of the
finance committee OF the Commercial
says:
.'Washington is the logical home for
strong national fire insurance company |
We have a good board of directors, who
are all working to make the Commercial
a strong company, a1d one OF the hnan- |
cial successes OF washington.
Name Bank Examiner.
H. w. Clarke. cashier OF the State Ma |
tional Bank, North Tonawanda, n. Y.
nafiOnaT hank |
examiner for the District Of Central New !
York. Mr.. Clarke has had nineteen years |
Of banking experience, serving in turn |
with the Saulte Ste. Marie National |
and the Manistique State Bank in Michi- |
gan. and with the bank in Tonawanda
He was for two years State bank exam
iner for Michigan.
Subdivision Again Popular.
A renewal of the activity which marked
the new subdivision. Massachusetts Ave
nue. Heights in the spring and early
summer is indicated by reports from
the office Of Thomas J. Fisher Co., Inc.
The building site on the south side OF
Massachusetts avenue, between w street.
the Elverson estate. and Lovers lane,
has been purchased by William F. Dennis,
of the Rinehars & Dennis Company.
This piece which contains in the neigh
borhood Of 1900 square feet, will be
improved by the purchaser with hand
some residence for his own use, as soon
as the necessary grading and street
work has been completed. The consider
alton was not given, but 1t Is known
that the property was held at about *l.7S
per foot.
Mrs. Kate woodman Babcock, the
widow of Representative Joseph w. Bah
cock, Of Wisconsin, has purchased the
two lots on the northwest corner OF Mass
achusetts avenue and Thirty-fourth place.
These lots have a total frontage on
avenue OF 146 feet, with
frontage of 142 feet on Thirty-fourth
place. The new purchaser has already
pfans under way for a home which will
be erected on this site
Frank 3. Littell, one of the professors
Of mathematics at the Naval ObserVa-
tory, Is the purchaser Of lot II, square
1887 Massachusetts, Avenue Heights. This
lot has a frontage of a little more than
fifty feet on Observatory circle, with a
depth of 166 feet through to Edmunds
street Mr. Littell will erect his own
home on this site.
Mrs. A. B. johnson Is the purchaser OF
lot "a, square 1887. This site, which has
a frontage Of sixty feet on Edmunds
street, Is to be improved by residence
which the new owner will have for her
own use.
Coinage for September.
During September there was coined at
the mint H,447,OoO pieces Of the value
Of H,a5,5oO OF this coinage, S,1A,oOO
was in gold, $50, 900 in silver, and H73, 500
In minor coins.
Census Cotton Report.
The Census Bureaus report on cotton,
made public yesterday, shows S,e6S,o5s
bales, counting round as half bales, giA-
ned from the growth Of 1911, to Sep
tember Is, as compared with 2312,O74 for
1910; 2,5ss,15O for 1903, and 2,5so,SSs for
1908. Round bales included this year are
2, ,sIS, compared with Ss,o2s for 1910; a.
40 for 1908, and 57.10 for 1908. Sea Is
and, 11,5l2 for 1911; 1904 for 1910; 1889
for 1903, and 11.457 for 1908.
The bureau says the statistics for this (
report for 1911 are subject to slight cor
rections when checked against the In /,
iividual returns OF the ginners being !
transmitted by mail The corrected sta
tis.ics of the quantity Of cotton ginned '
his season prior to September / are
"a, 81 bales.
rwenty-one Applications.
4