The Washington herald., 1912-11-07

lsober-faced and silent. Just why III,
QUAKER seance. no one seemed to know
With q general laugh II was followe<
by adjournment on the drop Of the gave
when the conversation ended.
Washington financial interests ar
speeulating on the outlook for local o
curities. The voicing Of the opinion thai
there would be no drastic Congressiona
action regarding public utilitiess va.
quite general.
The bankers of the city, while by M
means a unit for the successful candi
date. accept the result good naturedly
and have the kindest words for Presi.
dent-elect Wilson.
They do not look for drastic action
nothing that would disturb the pros.
perity and serenity Of the country, al
| such action might be depended upon t.
react on the party, now entering on q
new career.
II these bankers are prophets, then
the Capital has nothing to fear.
They do not think that Mr.. Wilson
wHl stand for any seven-year tenure OF
onice.
The one thing that stands to the front
in the comment anent the Financing
Fs~>> - eHo NSoohAh8Sou w 1kBh"oy uuO
Electric Company Is the fact that the
District Of Columbia needs and should
have at the earliest possible moment q
utilities commission.
Men should be appointed to this COM
mission who are familiar with the rec
ord Of the corporations Of the District;
men who know the city well and Its
needs and the wants Of its people.
1t should not be created for the sole
purpose Of representing the people
against the corporations. but n . COM
mon commission to represent the people
and the corporations. recognising that
citizens and stockholders have rights and
that the rights Of each should be con-
sideled.
Some Of the prominent members Of the
Stock Exchange are decidedly strong
for the utilities commission.
They realize that the discussion and
the uncertainty regarding the plans of
the Maryland-Virginia Railway Com
pany and its successor, Washington
utilities. has disturbed local investment
operations; that 1t has checked invest
ment and that for the first time in many
years capital il a little nervous over
Washington securities and their future.
local utilities commission following
on the lines OF similar bodies in other
cities. would not only care for the peo-
pies rights but for the shareholders as
well. preventing imitation OF securities
and In enforcing on corporations the
square deal at all times
Financial Washington wants. requires.
and ought to have a utilities commits
sion unbiased, open to conviction, and
uninterested. financially. beyond the sal
ary attached to the office.
George W. Ingham. superintendent Of
the insurance department of the District
OF Columbia, issued license on Novem-
Der to the First National Fire Insur-
ance Company. Of the United States, in
corporated under the laws Of the Dis
trict Of Columbia. and whose home office
Is In the Southern Building. Of which II In
half owner.
The result Of the examination shows
present paid up cash capital of $2J0.-
600. and net surplus in excess of $4oo,-
oo0 The balance of the First National
Fires s., ,000 900 to be equally divided be-
tween capital and surplus is expected to
be fully subscribed and paid in by De-
cember 81.
When the First National. last March,
advertised its intention to organize It
stated that the expenses OF organiza-
ton would not exceed 20 per cent. These
expenses have been kept down to Il per
cent. and in this respect the organizers
Of the First National have achieved a
unique position among newly organized
companies. In addition to this the direc- |
tors. who are among the most prominent |
men Of the National Capital. have been |
able by investments of the company's |
funds to make a profit Of about a quar- |
ter of a million dollars. thus entirely
the organization expense
The First National expects to imme- |
1iately< enter most OF the States. The |
officers are: Hon. Robert J. Wynne. |
president: Ashley NJ. Gould. Robert N. |
Harper. and Robert r. Tuttle. vice presi- |
dents: Frederick S. Dudley. treasurer:
Charles F. Carusi. general counsel