The Washington herald., 1913-08-08
Might Readily Be Accom-.
pEshed Without Increased
Stock Issue.
MAY BE COMPTROLLER
]. Shelton Williams Is Being Talked
Of-Stocks Enjoy Boom.
Gossip Of Street.
By I. A. FLEMING.

d
carried out by business men, in friend
shin and squareness. with the aid and
approval of the Utilities Commission.
And it might be easily accomplished
without any increased capitalization. a
matter which Congress has steadily re-
fused to permit, even though the stock
of both companies remains the same as
when originally formed back in the late
ass and Sis.
One corporation should buy out the
other. Naturally the Washington Gas
Company should be the purchaser.
1t already holds a majority of the
stock of the lesser organization.
II the Washington Gas Company
should purchase the balance of the
stock of the Georgetown Gas Company,
from the proceeds of bond issue and
thereafter lquidate the latter company,
the act would be accomplished.
Naturally the chief trouble would be
in arriving at a price per share for the
Georgetown stock.
Put this up to the Washington Utilities
Commission, either accepting the ap-
praisement that the Commission shall
make or an appraisement under gas ex-
perts to be employed by the Georgetown
Gas Company.
The value Of Washington Gas shares
in any way.
The Georgetown Company is an un-
exploited field from the standpoint of
securities. 1t is practically capitalized
and bonded, except 10000 certificates, as
it was in 1854. when chartered.
Naturally its physical valuation is much
greater today than is represented by
its outstanding securities.
Only 5000 Shares.
There are but 5000 shares all told in the
Georgetown Gas capitalization. and 49,
90 shares in the capitalization of the
Washington Gas Company. The WASH
irgton Gas Company owns $50 shares of
Georgetown stock, so that il would not
be serious matter to acquire the other
holdings.
Holders of bonds i'll the Georgetown Gas
Company and of the certificates could be
paid off in full. or a substitution of Wash
ington Gas IS made.
Certificates and bonded debt of the
Georgetown Company come within 81, 000,
90 and the Washington company has
81 100000 authorized unissued bonds, which
can only be issued for improvements and
bCtterments.
AS stated before, this consolidation
would have to be approved first by the
Utilities Commission and finally by
Congress
with uniform price of gas TO all con-
Sumers. with absolutely square dealing to
the satisfa ction of the Commission. Con-
Sress ought not to make any serious OBJ
lection.
Naturally one cannot tell what Con-
STess will do with any District matter.
Washington is the one Congress governed
city in the United States; members of
Congress rarely figure in the government
rhair tEu- hint do hay
a tendency to boss" Washington.
Williams for Comptroller.
Washington heard repetition yesterday
of quiet rumors that have been going
the rounds in financial circles that As
sstant Secretary ]. Shelton Williams
would b named by the President as
Comptroller of the Currency. coincident
with the passage of the currency
measure. And the object of the change.
which would not be a demotion by any
means, would be a place on the Federal
Board of Control, as provided for in the
measure fathered by Senator Simmons
and Representative Glass.
Mr.. Williams was formerly in the bank
ing business in Richmond and is there
fore a practical man. The position of
Comptroller of the Currency has come
to be a bigger office than that of an AS
sistant Secretary of the Treasury.
In the event of the failure of enact
ment it is reported that Deputy Comp
,ller Kane will be given the position
mad. vacant by the retirement of Law
renee o. Murray. Mr.. Kane has been |
deputy comptroller for many years.
Back to New York.
1T matters not whether the South
receives s50.O00,00o government money or
more, it will eventually come to New
II
the National Reserve Bank of New York |
City, in conversation with a group of
bankers yesterday afternoon.
THE South will send it our way to |
hquida' their loans in a measure" he |
added. but s5o.ooo,0Oo is a drop in the
bucket.
New York bankers have loaned the |
South about sSOo. 100000. Baltimore, Phil
adelphia, st. Louis. Washington. and |
Chicago are all lending millions of dol
lars down in that section. And the
bankers there are treating the bankers
of the North right and in turn are be-
ing treated right and not held up by |
the bankers of the North"
One of the listeners asked Mr.. Minis
as to the nature Of the security offered
by Southern bankers.
Farmers notes almost invariably, and
generally at so per cent of their face
Ndiue, ana II is good class of security. |
frequently We find listed as collateral
to the note one mule, Maud or even
a cow Susan, by name.
we rarely lend on manufacturing
paper from the South, but we find these
farmers notes well cared for, and the
rate is satisfactory. Very few, II any,
losses have been sustained through loans
through Southern banks during the cur
rent century. They are getting stronger
every day.
I'VE in New York do not need govern
ment money; We have plenty of il. and
the money released by the Treasury will.
as said before, come to New York"
Are there any large blocks of stock
hanging over the New York. stock
marketT
To this query the bank Official re- ,
sponded: Stocks are in strong hands
The liquidation has been Completed
There is no likelihood of any enforced ,
selling. 1t is sold out market" L
Local Securities.
On the regular call but one share of s
stock was sold.
The attendance of members was lighter ,,
he N wednesday, and fhap mas.