The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-07-16
NO CIVILIZATIONS
FOR YEAR 1918
Utilities Body VIII Have No
Cash for Appraisements
Until 1914.
BANKS RETURN $780, 900
Washington Gas on Its Way-Wall
Street Shows Better Tone.
~ Street Gossip.
By L. A. FLEMING.


The Public Utilities Commission will
make their own appraisement OF the
Washington Gas Company's physical val
uation irrespective of the one recently
made by Messrs. HUMPHREYS and Miller.
But this appraisement will not be made
this year. The cash for the appraisement
of the various utilities is not available.
When the regular session Of Congress
convenes next December and the appro-
priation bill is brought UP for considera-
ton the District Commission will ask for
:. certain sum of money sufficient to make
these appraisements.
Between now and then the commission
ers will have to decide about how much
cash will be required for the work and
ask for it. Also between now and then
there will be no important Developments.
The commissioners have not received
the Washington Gas appraisement from
the latter company, President Letter prob
ably preferring to hold the documents,
original and copies. in the corporation s
vaults until such time as the full board
is ready to accept the statement for in
vestigation.
The comparison between the two re-
ports will be interesting as will COM
parison Of methods obtained in arriving
at conclusions as to value.
1t would seem that there isn't any pos
ElDlll1N OF lne Et-
port being under the s13 o0O. 900. upon which
per cent dividends are now being paid.
as the leeway between this and the re-
cent estimate, nearly Sc. 000, 900. ought to
more than cover all discrepancies; II need
ed the figures are not much nearer an
equality.
But II is scarcely within the probabil.
tiles that the commission would permit
of increasing the price of gas, no matter
y, trrNrs
there is little probability for cheaper gas.
Mergers are sidetracked by the La Fol-
lette amendment unless Congress gives
consent, and it would probably be an ex-
pensive affirmative in quid pro quo.
Gas Activity.
Washington Gas was exdividend yAs-
terday. 1t opened at 50 IL eXdividend,
went back to 50 IA, small lots at 81
a share stopping about an equal
length of time on each eighth to - 1-e
exdividend where 1t closed, offered al
90 This price dividend on equals sos
and is within a fraction or the nIgnes,
price on record.
1t may be that the coterie of buyers
has in mind the annual election next
February perhaps dictatorship, per
haps even the presidency. The in
cumbent of the new office OF general
manager Is not a candidate for the
presidency; the Standard on is not a
factor in the Gas Company, unless 1t is
buying stock now. Mr.. Reeside becomes
acting president in September. while Mr..
Letter is voyaging round the world. but
Mr.. Reside is not a candidate for the
office in 1914. This is positive.
There isn't a question that Gas is
strong, and that the kind OF buying
that has been going on for a couple OF
weeks will put It higher, II maintained.
Over 400 shares were traded in yes
terday, all Gas, and about 80 shares
of other stock.
Capital Traction moved up to lIs L..
and 80 shares sold at 1ly IA. The re-
covery from III "a was rather easily
accomplished.
Federal National Bank and United
States Trust shares. l5.
Pay Back 100000.
National banks in the District yester-
day paid back to the government $4,000
tax money deposited with the banks bys
the Treasurer two months ago.
This was the first payment, 20 per cent
of the total deposits OF 100000, the
second payment, to be made in August,
will call for another $4,000. and then but
$4,000 each month for the six succeeding
months until liquidated.
Bankers have been preparing for this
call. and the return will make no par
ticular difference with the money ma
ket. Currency is rather scarce in the city,
but the borrowing demand is not espe-.
cially urgent from any source.
Collections are slow and small curtail-
ments are the order of the day. Bust
ness is fair. but is restricted by the sum-
mer season and the absence of thou
sands of people-spending their dollars
On the North Shore and elsewhere.
The summer exit colony takes much
more than a million dollars out of the
District but tourists bring much cash
here, and the presence of at least a part
of the personnel of Congress also is a
help. There are many absentees on the
House rolls
Yo-L StocL. vF,yber
The fact that the threatened strike ma
been avoided, which but means that the
railroads Will have ultimately TO yield
part of the asked advances, caused a
better feeling on wall street, no great
increase in activity and some sharp
fecoveries-
,nent is the general belief among the
close observers of the street that the
market is absolutely shock proof. that
liouidation has run its complete course:
that the bears have sensed this and for
that reason are taxing their vacations
waiting for new accumuIatjon and new
opportunities to force Uou;dation before