The Washington herald., 1913-11-02

increase in the dividend rate to $3.50 per
share per annum. the earnings win show
the dividend made. Increased sale oil
gas to date totals 40,00o,oo0 cubic feet
more than for the same period in 1sl2.
The gas company has decided that 1t
win pay the normal tax for those of
its bondholders who are liable therefor
but demands coupons with exemptions
where exemptions are permissible, for
the reason that the tax should be as
greatly restricted in net cost to the COM
pany as possible
The normal tax carried up to $4,000
without exemptions, to $4,000 with
married mems exemptions.
The company has fled its answer to
the latest suit. that of the Utilities
Commission, claiming legality OF the
much-disputed $3.50 shares of Georgetown
Gas. The sooner this case is settled in
court, once and for all, the better for
the people OF Washington.
Utilities Company.
AS provided by its action taken last
MONTH the Washington Utilities COM
pany has entirely divorced itself of its
control of the Washington-Virginia Com
pany and its properties.
The properties were returned to the
control of the recently incorporated
Virginia Railway Company,
successor to its predecessor, chartered In
1910 to take over the electric lines be-
tween Washington, Mount Vernon, Ar
lington, Falls Church, Alexandria, &C.
The Washington Utilities Company is
now not amenable in any way to the
Utilities Commission of the District, this
body having given approval of the COM
pany's holdings OF Washington Railway
and Electric shares.
The Utilities Company becomes purely
holding corporation and under the care
of the Virginia State Commission, where
it was chartered.
Deal Is on.
Long months ago Charles W. Morse.
steamship magnate, owner of O Hudson
River line of steamers, was reported
as about to consummate the purchase
of the Potomac and Chesapeake Steam
ship Company, operating steamships
between Washington and Alexandria
and forty river landings. Mr.. Morse
was to Immediately start line OF pala-
tial steamers from Washington to New
York, via Norfolk, sc.
Mr. Morse has probably given up ths
project as one full of trouble, not rel
ishing the competition of the Washing
ton Norfolk line of steamers and the
Old Dominion line from Norfolk to New
York.
All the bondholders of the Potomac
and Chesapeake Steamboat Company
have not acquiesced TO the proposed re-
organization plan and it may be neces-
sary to go into court to settle the mat
ter.
New Regulations.
The new regulations for the collec-
ton of the income tax are even more
difficult of solution than the first batch
relating to coupon collection. Thousands,
perhaps millions, of people will pay the
government the 1 per cent tax rather
than bother trying to understand the
matter.
An income tax specialist should make
excellent money advising financial and
real estate interests. The Internal
Revenue Bureau Is OF the opinion that
the matter is simple, but bankers have
advanced questions to. members Of the
official stan and have not received the
answers-"search me-"
Local stocks.
In line with the every day contraction.
in the local market, no pressure to sell
being as evident as the lack of pressure
to buy, yesterdays market was unim-
portant In all forty-seven shares or
stock changed hands. Gas S4zaSiA !;
Railway preferred So, small lot; Trac-
ton I14a1l5A, on two sales of share
each-not indicating the market at all
the bid and asked sheet being equally
non-indicative of values.
Union Trust shares, 1Ss IL. Traction
Is brought 107 rs. Railway As 81 L.
There was neither life nor activity in
the list
May Retire.
- -a.;-o. nc prasidapt of
the Second National Bank it will be
entirely voluntary, and that he may
attend. to large personal interests. For
wears the rumor has occurred with
regularity and Mr.. Cox has neither af-
firmed nor contradicted. For the last
month the story has been going the
rounds of local banks, with Mr.. Cox still
silent. Mr.. Rudolph, ex-Commissioner,
who is said to be slated for president OF
the Second National, is equally reticent,
admitting that the report was not with
out some foundation, but he added, a
retraction might have to be made.
The chances are that action will be
taken in the near future and that Mr..
Cox will retire and Mr.. Rudolph succeed
him. Both men are extremely well liked
in this city, both have held important
honors and positions in the public serv-
ice in the District, and both have hosts
of friends and both are solid financially.
Protests Trust Busting.
Commenting on the report that the ad-
ministration, after the passage of the
currency bill, will conduct a drastic cam
paign against alleged monopolistic COM
b.nations, a prominent manufactures
said:
we can adjust ourselves to the
changes in the tariff. The money strin-
gency in evidence all over the world Is
temporary matter, and recession In
business will be but a natural result of
unexampled prosperity over the last few
years. When confidence is lacking, there
can be no expansion in business, and If
| we are destined to go through pro-
longed trust-busting campaign, / am
afraid that dificulty will be experienced
| in removing the uncertainty and doubt
that is beginning to make itself felt"
The head Of one of the largest cor
porations in the world had the following
to say:
1.-THE campaign against so-called mo-
nopolies supposed to be operating in vio
lation of the Sherman antitrust act has
been going on for the last five years, and
business interests would like to feel that
| the end is in sight. The large manufac-
turers have profited by these investiga-
tons, and most of them are conducting
| their business along lines in harmony
with the Sherman law. Competition has
been more or less restored. II we receive
some reassuring advices from Washing
ton that Investigations, suits, &c, will
be confined to companies already under