The Washington herald., 1912-03-01
FINANCE REALTY

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Trading In Washington Gas stock was
the feature OF the meeting Of the local
stock exchange yesterday: This security
sold at a point and half above the
best price Of the day previous. The
trading started at SILT The highest
point reached for quotation lots was
s67-s, while single share brought
81. The bid at the close was IS 3-8, and
the asking price ss7-s.
| Railway preferred was fairly active az
% for quotation lots and quarter point
better for odd numbers of shares. The
closing bid was 90 rs. and the asking
price s2 After call the stock sold at
81 rs. No trading was done in railway
common. The per cent bonds OF this
company sold at SCI
To Have Omces Here.
Announcement was made yesterday that
the Southern Consolidated Life Insurance
Company, which is now In the process
OF formation under. the direction OF w.
c. Chase, OF this city, VIII probably oc-
cupy offices on the third and fourth
floors Of 1922 New York avenue north
west. within the next two months. The
company expects to begin writing poll
cies about July /.
The Southern Consolidated Life InsHr-
ance Company is an organization to be
composed Of about 100 small life insur-
ance companies now doing business
Through the South The stockholders Of
these companies. 1t is estimated. have
between S30,0oo.oo0 and S40.0oQOoo tied up
In Investments IN the securities of these
companies, many of which are able TO
pay no dividends at all. while others pay
unsatisfactory dividends. The general
plan of the proposed consolidation Is 20
secure a material saving to all OF the
companies by solidlfying and unifying
the operating forces.
Company Increases Capital.
The State corporation commission at
Richmond has granted an amendment
to the charter Of the Maryland Virginia
Railway, which has Offices in Alex
sndria. allowing an increase In its cap
ital from 100000 to $3o.oo0oOo. This
road win, II Is stated. take over the
Bluemont branch of the Southern Rail-
way, running between Washington and
Bluemont, now said to be operated at a
distinct loss by that company, and elec-
in length and is located in one OF the
richest sections OF the State.
The new company expects 10 enter
Washington over the Aqueduct bridge,
thus dispensing with the expensive toll
charged for entrance to the Union Sta
tion. Direct connection viii be made
with the various local street car lines.
While the transfer OF the property
to the lew road has not yet been con-
lefnr Cd fo haf will
take place within the next few days.
The price is not stated.
Buys Bon Marche Building.
Announcement was made yesterday by
Thomas W. Fowler & Son. real estate
brokers, of the sale of the business prop
erty at SIC Seventh street northwest,
which Is a part Of the structure formerly
occupied by the Bon Marche department
store. The purchaser was Joseph S.
Justh. and the consideration in the
transaction was $500. the sale being
made for John D. CoughIan, trustee.
In connection with the trade II was
stated the whole Bon Marche store has
been leased to the American Five and
Ten Cent store of New York, which
or as soon thereafter as the necessary
alterations are completed.
Bank Changes Name.
Beginning to-day the Provident saw
ings Bank. at the northeast corner OF
Ninth and G streets northwest. will be
known az the Mercantile Bank. Here
after the bank will specialize in COM
merciaI as wen as savings accounts.
Lectures to Bank Clerks.
Public expenditures" was the title of
an address delivered before the Wash
ngton Chapter of the American Insti-
tute Of Banking last night by DR.. c. W.
A. Veditz. During the course of his re-
marks he said:
''It is humiliating TO Americans abroad
to see the slovenly quarters which the
limited allowances OF our government
make It necessary for their representa-
tives to occupy. II is gratifying, how
ever, that steps are being taken to better
these conditions. and IL is to be hoped
that the time Will come when the Amer
ican tourist can refer to his consulate
without a blush"
Hotel Sale Postponed.
As the result Of the payment Of a por-
ton of their arrears by the New Ere
donia Hotel Company yesterday. the sale
of the Fredonia Hotel by public auc-
ton, under the provisions OF a second
deed of trust for $10o 900. which was
scheduled for o'clock, was not held.
Tightening Loan Regulations.
The Comptroller Of the Currency yes
terday issued an order requiring national
banks which have made loans in excess
OF the limit prescribed by law to un-
cergo quarterly examinations instead of