The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1912-12-10
NEUTRALITY-SUSPICIOUS.
Local Financial Matters

/. ton Railway and Electric Company, for
the purpose Of electing officers for the
year, hearing annual reports, &C., and
for such other business as may be
brought up for consideration
Here is the opportunity for the share
holders of the Washington Railway and
Electric Company to listen to a proposal
from the directors of the Washington
Utilities Company for an exchange OF
securities. This, of course. depends on
the success which the Washington Util-
tiles Company has in defending itself
from the legal proceedings instituted
against It.
The consideration of any proposition
for an exchange OF securities could not
be brought up at any but a special meet
ing, for which due notice of purpose must
be given in the call for the same, except
at the annual meeting.
The proxies are out for this meeting.
The Southern Building is rented to %
per cent of its capacity. 1t has become
one of the most popular buildings in
the new financial district. Over l4,OO0
people pass che entrances TO the struc-
ture daily, and between the hours Of 9
a. m. to p. M, the travel is at the
rate of over 1900 an hour.
Applications for large space alIotments
owners of the building are planning on
the speedy completion of two additional
stories, making it an eleven-story struc-
ture.
When d. II. Burnham planned the build
ing. he prepared for an eleven-story struc-
ture; indeed, the structural steel is in
place now for the additional two stories.
William F. Thyson, manager of the
Southern Building, states that the two
hnOrS desired rll1hg anrial
organizations, and meeting rooms for va
rious business organizations.
Speedy elevators. and plenty Of them,
broad foyer, and double entrances. with
neaTness to two great traction lines. have
ADDED to the Misunderstanding power OF the
building.
A deed has been recorded by which Fred
W. Miller and John II. Miller transfer
TO Llewellyn F. Davis the property $40
Ninth Street Northwest adjoining on the
south the establishment of the julius
Lansburgh Furniture Company. The lot
has a frontage of nineteen and one-half
feet and extends back TO a thirty-foot al
ley. and contains 1867 square feet.
No consideration is announced, but it is
understood the price paid was S56, 900,
which is nearly s3i per square foot. the
highest price believed to have been paid
for inside property on that street. II is
said the purchaser will hold the property
as an investment.
The Maryland Public Service Commits
sion has approved the final steps in the
financing Of the traction line from Great
Falls TO Chevy Chase. The line will be
constructed by the Chevy Chase and
Great Falls Land Company, the Bradley
Hills promoters The cost OF the line
will be about $450.OOO, and for this the
railway company is to give to the build
ing company $4,000 of its per cent
bonds. This will mean that the bonds
have been financed at 81, considered by
the commission as a fair price.
In addition to the bonds the company
is authorized to issue stock to the
amount of $3OO1J0 of which all but $50
is to be paid to J. Walter Long for the
right of way, power property, and power
and waterpower rights
This suggests that the road is planning
TO furnish its own power.
The Washington Railway and Electric
Company sold 3,:34 shares of Great Falls
WaterpOwer stock during the year ended
June 90 1872. but the name Of the pur-
chaser is not known.
Local securities moved along in mar
row circles without especial feature.
Washington Gas sold at SIS "a: Potomac
s.. 900 Capital Traction IS sold at 10 Poto-
mac first mortgage IS were offered at 1O6,
lOI IL bid.