The Washington herald., 1912-11-22
Local Financial Matters

Gas shares have been sold above Si45 a
share. That the stock has intrinsic value
approaching this price is not even claim
ed by the best friends of the company.
1t is offered at 155, and the best bid yes
! terday was Sc.
Georgetown shares a year or more ago
were around e5. That they are higher Is
in pursuance OF a well-deined plan.
The conversionary clause in the certifi-
Gates cannot be exercised until after
1873 The section giving to the Supreme
Court the right to pass upon the ques-
ton of increasing capitalization was re-
pealed and it is now exclusively up TO
Congress to take action.
If the shareholders OF the Georgetown
Gas Company secured the right to in
crease its capitalization after 1913, the
holder OF each 800 certificate would be
entitled to four shares Of stock, a mat
ter that could not be questioned.
The certificate holders will probably
not take any action toward calling a
meeting, as the certificates are largely
IN a few ownerships and for the con-
vertible privilege.
1t is task of large sized proportions
to prepare a mortgage covering 100000
900 authorized bond issue. This is what
the legal department Of the Washington
Utilities Company, assisted by certain
officers, are now doing. The document
will be one Of the largest and most
voluminous, and will. when completed
and the time arrives, be filed in Vir-
ginia, Maryland, and the District of Co.
lumbia..
This would seem to indicate that the
utilities company's plans were well ma
tured and that the halting is nothing
more than a necessary wait between
acts.
Local bank officials find their time i'm
posed upon by applications for as
sistance, ofttime needed and worthy, by
calls for aid to this or that charity and
by all manner OF seekers for assistance
not down in the curriculum of bankers
duty.
A bank might have a charity fund at
the disposal of its cashier or other OFF,
cial, where worthy objects demanding
immediate attention might be considered.
Organized efforts TO separate the bank
from cash for tickets, suppers, &c, have
to be handled by some one familiar with
the standing of the applicant, with espe-
cial reference to the wisdom of granting
or refusing.
Banking officials Of Washington are
easily seen, there is no stating business
to waiting youth. This privilege is
greatly abused. and the time of the bank
ers taken up, frequently ncedlessly.
A. B. Claxton. of the Washington Loan
and Trust Company, is scheduled to talk
to the members and guests of the Wash
ington Chapter, American Institute of
Banking, this evening. on Loans and
Discounts" or in other words, how the
banks make their money.
A sale of 100 shares of Washington Gas
was made at S6Iz. buyer, 60 days. lmmc- /
diately S69t was bid for the same option |
without bringing out any stock. The reg |
ular bid for the stock was S6. with 81
asked. Nothing new is developing in the
Gas situation. The negotiations looking |
to the acquisition OF the Georgetown !
minority holdings have been laid aside, |
temporarily at least.
The fact that bear pressure has been |
removed from Capital Traction shares on |
the daily sessions OF the exchange is re- |
sponsibIe for a revival OF interest on |
the part Of the small investor. who be
lieves in the stock and is willing to take |
on a few shares. Odd lots tell this tale. |
The. price was decidedly firm, 12fsal24a4. !
as Compared with 123 OF week or ten
days ago.
Good buying of National Savings and !
Trust shares was in evidence, 265, the
basis Of recent transactions, being re-
peated.
Bonds were wanted at 81 for Railway
Is. 1908 for Potomac Consolidated IS, and
1914 for Telephone IS.
Eugene F. Thompson. of Crane, Paris
& Co, will return this morning from
Frisco system inspection tour into
Mexico and Eastern Central Texas.