The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1912-12-01
Local Financial Matters


ways, &C., of one corporation by another,
even with reasonable compensation. Is
considered an infringement on corporate
rights.
The Washington Railway and Electric
Company made such an agreement with
the Washington, Baltimore and Annapolis
Railroad Company, but this case was
probably favorably considered under
threat of paralleling the New York Ave-
nue. Line.
Section 6 of this bill provides for the
physical valuation OF every utility OF
Washington at once by the commission;
also the amount of money expended to
secure the right Of way and the cost OF
securing right of way and reconstruct
.roadbed. track, depots, cars, conduits,
subways, poles, wires, storage plants,
power plants, machinery. and everything
not included in the enumeration before.
and used in the business of such utility.
and to ascertain the cost OF replacing all
physical properties belonging to the pub
lie utility.
1t is ordered TO ascertain all matters
regarding stock. bond issue, Indebtedness.
how issued, &C., to whom sold, the
amount paid in cash, property belonging
to il. gross and net income, salaries and
wages. &c, and all this information is TO
be made public in the report OF the COM
mission.
Hearings are provided for on the mat
ter of value of corporations. And the COM
mission may on its own initiative make
a retaliation. The bill further gives the
commission rights on accOuntings. forms,
and methods now possessed by the Inter
state Commerce Commission. The COM
mission would also have the right to low
er rates for service.
The right is given to the commission
to hear plants and to notify the util-
tiles Of the fact that complaint has been
filed and answer must be made.
No issue of stock or bonds or evidences
of debt of any utility company is per-
mission to do So
The bill gives full and complete au-
thority, within reason. to the commits
sion
Because OF the fact that utilities mat
tiers will occupy much attention during
the coming session Of Congress, investi-
cations. &c. with regard to the oper-
atoms OF the Washington Utilities Com
pany, the main facts, the real essen
tials, in the measure. as it passed the
Senate. are published.
Washington financial interests will Of
fer no serious objections TO the enact
ment of a utilities measure. but they
are not a unit by any means on the
question OF the Commissioners forming
the utilities commission.
They believe that this body should be
out Of politics or political control, and
that the Commissioners have enough to
do to look after the affairs Of the Dis
trict. There should be no lame ducks"
or political favOritcs named on this i'm
portant body.
For the year ending June %. 1912. the
Railway and Electric Com
pany reported a surplus after all charges
Of S9.0S.j+ indicating that the claim
that the increased dividend on the COM
mon stock was either earned or that
some innovations in bookkeeping were in
stalled.
Bankers in Washington. especially
those with not-especially -noticea ble-hair.
were very particular about keeping their
hats on their heads yesterday. Much dis
cussion resulted on Change and else
where. as to the bank president whose
hair was mussed. and also regarding
the other president whose pate was sa-
uted.
Names of important personages were
freely discussed.
There has been no further discussion OF
the proposition advanced by some of the
bank accounts where the average de-
post is not sufficient to pay for the
are and bookkeeping expenses.
The Title Guarantee Trust Company.
IF New York. has a plan in operation OF
charging 81 a month on accounts under
An average of 500 a month.
Here is the conclusion reached by
Nipa President Stanley nf the hank
0any.
On the whole We have only to say
hat our added experience OF two years
n this method of caring for small ac-
counts, and the further extension of the !
plan, has only strengthened US in our
belief that it is more exact. is entirely !
proper, and is more scieItifiC than the
oOser habit Of accepting all accounts
without regard to whether they may be !
profitable or Improbable to the banker, !
while AT the same time it gives oppor- !
unity to the small customer to have the |
1epefits of a bank account. If he desires |
,ne, and is better than to refuse him
facilities entirely"
A review of the local security market
or the week is but the story Of one |
lays dullness and neglect after an
yther.
Price changes have been incOnsequen- |
ial. a shade advance in the Railway and
Electric shares and a little weakness in
Gas.
Investors are waiting for the outcome |
If matters that will go to Congress and
o court, and in the meantime. Washing
on as an investment and security center
5 at a standstill, save in the miscel-
aneous bond trade over the counter. In
'estors should stand pat. Local securi-
les have merit and value back of them.
Joe Howard. in his syndicate letter on
saturday morning, makes public. years
of a very generous action on
he part of the Riggs National Bank,
hortly after the big fire, in extending
Helping hand to one of to-day's most sue
essfuI Baltimore fiscal institutions.
The call came before o'clock in the
morning and the cry that went up was of
Urgent need to save.
Three employees of the Riggs National,
ach loaded with 100000 in greenbacks,
made the trip to Baltimore and saved the
,ank there.
Gratitude was honest and sincere.
The helping hand has been frequently
in Washington 1t was forced
nee or twice: in Chicago it was with
leld in the case okthree big banks and
hey closed. TheA are all kinds of
'ankers of men and bankers.
NEW YORK MONEY.