The Washington herald., 1912-10-03
Formal Notice of Merger.

Formal Notice of Merger.
Formal notices of the action of the
board OF directors accepting the PROPOSE
ton to merge the properties with the
Maryland-Virginia Railway Company
were sent out yesterday to the stock
holders of the Arlington Electric Com
pany and the Braddock Light and Power
Company. The notices set forth a call
for a special meeting of the stockholders
of the three companies to be held on
October Is to ratify or reject the action
OF the directors
The meeting of the stockholders is to
be held in the Alexandria National Bank
building for the Maryland-Virginia Rail-
way Company, and in Clarendon. Va,
and Arlington, Va, for the other two
corporations. II Is expected that the
question OF the merger of the properties
involved will be settled that day.
Car Shortage Anticipated.
Attention is being called by trade pa
pers and the daily press to the posi-
bility that freight car equipment on all
the big railroad systems will come far
short Of the demand on the part Of
shippers during the fall months and the
early winter. Present indications point
to a revival OF business within the next
few months of great volume, which will
tax the railroads to their ultimate ca
pacity. and even go beyond 1t. Com
menting upon the situation the New York
Mail says editorially:
For the next eight months. and
possibly longer. the capacity OF the
country to do business will be lin
tied only by its transportation facili-
ties. Already there Is a demand for
freight cars considerably in excess Of
the supply, with the ratio on an ascend
ing scale. Before snow flies a shortage
Of 100000 cars is predicted. Just how
much worse the situation may become
will depend upon the openness of the
winter. the cooperation between the
railroads and the shippers in unloading
cars and getting them back to points OF
origin, and the available supply of ves-
sells at Atlantic and Gulf ports to carry
eastward the enormous purchases of
grain and merchandise which Europe has
made here"
The Comptroller Of the Currency yes
terday issued a statement showing the
condition OF the 1881 national banks IN
the United States at the close OF busl-
ness on September last. The statement
shows that the total of loans and dis
counts is s6,oiO, ,sH, go, a gain OF $50, 36,S3S,
shown by the call of June T. The cash Is
1896, ,s51 ,os4. a loss from June "A of sI9.-
81. 500. The individual deposits are
S, SCI SO. .037, a gain of s66, 20s, ,si3 as COM
pared with the figures OF a year ago. The
following gains are shown: Loans, sS77,
43o, 1877; cash, &75.6S7: deposits, s40l, 995.
Since June Il there has been an increase
of twenty-five banks.
Other items shown by the report just
issued are: Bonds and securities, sl.0S9.-
sS6, 900; specie. s71S 4so, eco. and other
United States bonds held to secure cir
culation. $50. Overdrafts of 500
16s.0OO are reported. and legal tender notes
outstanding aggregated s1S2, $4,000. The
capital stock of the banks is sl,0i,0l2, 600:
surplus. s701, OF 900. and undivided profits,
s242 735. 900.
The banks in the New England section
show gains in loans OF ss.70i.16i. but losses
in cash of s., sos. .2s4. and in deposits of
81 e0S. .635. The banks in New York City
show losses in all three items as follows:
Loans. .I31; cash, So, 81: deposits,
SS7. .537.515. The total of all the banks in
the Eastern States shows increase In
loans OF sl3, 707, 733: the loss in cash of
So, 49,, 400. and a gain in deposits of s10.-
154, ,795. The Middle Western. Western.
and Pacific States also show marked
gains in deposits.