The Washington times., 1913-04-05
WASHINGTON AND NEW YORK FINANCIAL NEWS
GAS PLANT WORTH
FIFTEEN MILLION
New Appraisal of Plant Of WASH
ington Gas Light Company
Has Been Completed. ~.

4 new appraisal of the plant of the
Washington Gas Light Company has
been completed and shows it, to be
! Howard Rceside admitted today that
the appraisal upon which experts
have been working for several months
has been completed and is in the
hands Of President Letter As. to the
figure arrived at Mr.. Reside. refer
red to Nj. Letter, who was not at his
office today, but 1t has been learned
from other sources that the apprais-
ers arrived at a valuation OF upward
of S15,0o0,00O. j.. ~ .-- :,
This is an increase of more than
S2.O0o,0OOs in the value of the gas
property since the last appraisal.
which was made June 80, 1909, and
was s12,s72.00O. - 49,.
Washington Gas stock was in demand
on the local exchange in today's session
ana the price hardened. Evidently the
knowledge of the increased valuation
had some effect. A tota lof 100 shares
were taken at IS and ten shares at an
eighth less.
shares of the Georgetown Gas Company
were traded IN on the local exchange.
Ten shares were sold at 10lH, a six and
quarter point increase over the last
sale. The bid was also raised from IS
to 80 thousand-dollar lot of George
town Gas 5s also came out, at 104.
Mergenthaler was stronger than ever
and sold at 218. The bid price was raised
a point and a half. Commercial Ma.
tional Bank was bid up three points.
The bond buying was small,
The new Dupont Circle branch of the
United States Trust Company was
opened this morning, with Robert D.
Hagner, manager, and B. 3. Wilson,
assistant treasurer. in charge. The Of
ficials received many congratulations
upon the handsome appearance of the
new bank. The building Is three
story. brick structure of ornate archi-
lecture. The fixtures are Of Tennessee
marble and bronze. The banking room
is equipped with large women's Sec
ton. safe deposit vaults and private
booths. A large vault has also been
placed in the basement.
The new, Washington Savings and
Commercial Bank will open for busl-
ness Monday morning at 733 Ninth
street northwest.
Local bankers are Interested in the
following reference to the income tax
law, which has been issued by the
National City Bank, of New York:
Plans for the impending income tax
are already we'll under way. 1t Is esu-
mated by, those engaged In drafting
the measure that IL will be necessary
to raise about $1O0, 900. 900 by this means.
They contemplate abolishing the exist
Ing corporation tax. which has raised
about $50, 100000 year since its estab-
lishment, but will raise the same sum
by provision of the income tax. 1t
Will also cover the $4,000. 900 or 5000, 900
additional which II was estimated that
their proposed extension of the excise
tax last year would have produced
Thus far no announcement has been
made Of the rate which II Is proposed
TO fix, but there has been talk that II
would be l per cent on all incomes
above 5000. It seems probable now |
that no attempt at graduation will be |
made, and there seems to have been
no discussion of the plan of making COL |
ection at the source. The Sixteenth |
Amendment distinctly includes all in
comes from whatever source derived |
90 that salaries of Government officials |
and incomes from State and Federal |
'unds Will be taxable, If the law so |
provides"