The Washington herald., 1913-09-03
GAS RESOLUTION
IN THE SENATE
Inquiry Into the Georgetown
Washington Gas Com
panies' Relations.
NEW YORK STOCKS EASY
Some Strong Spots-Corn Damage.
Local Securi6es-Pubic Moneys.
Gossip Of Street.
NEW YORK STOCKS EASY
BY L. A. FLEMING.

terday In the Senate a.resolution was
introduced asking the Commissioners
what proceedings had been taken to dis
solve the relations between the Washing
ton Gaslight Company and the George
town GasIight Company.
In the House a bill was introduced
providing for the purchase or condemna-
ton of the street railroads by the Dis
trict-in a word, municipal ownership.
The resolution was adopted and the bill
sent TO committee.
So far as the Commissioners are con-
cerned no action whatever has been
taken to separate the Washington Gas
Company from its holdings Of S,54O shares
of Georgetown Gas stock, but the George
town Gas Company itself has a suit
pending in which it claims that the stock
is held without authority and in violation
Of the provisions of the La Toilette
amendment to the utilities law. The
cause has not come to trial, but should
be reached in the comparatively near
future.
Whether the District of Columbia is
ready for municipal ownership or not is
not point for discussion in this column.
But the spectacle of the District with
that part of its population living west Of
Rock Creek paying 81 per 1000 cubic feet
for its gas supply ana the residents of the
city east of Rock Creek paying S cents
per Loo cubic feet should not long be
Ie, mitted-
Either municipal ownership of the two
-as companies or a merger with Scent
gas for the entire city. or even S0-cent
sas. which the Washington Gas Company
should yield for the privilege of merging
and supplying the entire District, offer
alternatives to the existing situation.
The resolution as 10 conditions preva-
INT in the local gas situation shows how
rutile it would have been for the WASH
!ugton Gas Company TO have paid the
price for the minority holdings of George
town stock. practically carrying the en-
tire capitalization, all of which would
have been Illegal
w. J. FInthcr in Wreck.
William ]. Flather, a vice president Of
the Riggs National Bank, was in the
New Haven wreck yesterday morning
hut fortunately was Uninjured. 1t was
decidedly busy morning around the
Riggs National The National City Bank
of New York and Colgate and Company,
Wall Street house, were besieged to
ascertain the whereabouts and condi-
ton Of Mr.. Flather, and finally the New
Haven road was called. Mr.. Flather
vas due at a meeting of the Lanston
Monotype directors in New York, and
Mr.. MauTy J. Dove was wired as to his
presence at the meeting and answered
in the negative.
Finally, when the worst was expected.
Mr.. Dove flashed notice of Mr.. Fathers
presence at the meeting and soon after
a wire filed Immediately after the acci-
dent notifying the bank of his safety.
reached Henry FlatheF. cashier of the
Riggs National the dispatch having been
DELAYED by press messages. Mr.. Flather
was coming from Bar Harbor and was in
the Pullman, two cars ahead of the
wrecked cars.
Wall street.
The most important event of Tuesday
was the closing of the subscription books
for Southern Pacific stock owned by
tered into some time ago. 1t was re-
ported that the sale had been extremely
successful and this had an excellent
effect on the opening of the list but other
events coming fast turned the tide the
other way. The New Haven accident
started that stock on the down grade;
the poor July net earning of a number
Of railroads. leading trunk lines and
important grangers all tended to cause
4 halt in the upward movement Then
the cotton condition and a sharp upturn
n the prices OF corn especially, gave the
market a rather weak closing.
London bought stocks rather freely,
giving especial attention to Canadian
Pacific. which rose points and held
9 points gain.
The New Haven wreck took the stock
from 80 Is to 9O1-4, just about s. a share
on the capitalization.
A suit by the Attorney General against
Reading and Reading Coal Company, al |
though expected and announced as a GER
tainty of the week, was another blow to |
the markets stability.
The general result was a drop of 1-2 !
point. more in some cases, but Southern |
Pacific, Copper. Canadian Pacific and |
500 Line were exceptions, presenting |
strength. 500 Line, Is higher: Copper. !
IS; Southern Pacific, rs, and Chino Cop |
per, rs.
Union Pacific only lost 3-S, a recovery |
Of SIS in the final hour, on easy foreign !
market and success of the |
Southern Pacific sale changing the close |
10 better figures. Steel common was 7-S /
of; Reading, 81; Mop lost a point; Hill |
stocks 1-2 point. and Smelter 21-2 The
closing, while better than the low, was
not especially firm.
Local Securities.
Capital Traction Company sold at 1l6. |
IL point advance over last previous quo
tation. A small sale of Railway common
at 30 completed the transactions in utili-
lies. The bid price on Washington Gas
was 81, with stock offered at 81 3-3; Mer-
genthaler, 21S 1-2; District Bank, 145, and
Federal Bank, 1856, the latter moving up a
point. Citizens Savings sold at 90
The Lanston Monotype Company has
declared the regular dividend and an ex-
.ra dividend Of / per cent, 3I-2 in all.
payable September 80, to shareholders of
record September 6.
Personal.
Charles ]. Bell, president of the Ameri-
AN Security and Trust Company, re-
uTned yesterday and made three trans
actions on change. Secretary Walker
llso returned. William ]. Flather is ex-
oected home today. William D. Hoover,
president of the National Savings and
Trust Company, is expected home from
iaine next Monday. George Howard left
or the North Shore on Saturday, and r.
'. Harper returned from Atlantic City,
While Bestor R. Walters has gone to Vir-
yinia for a vacation.
Public Moneys.
The Treasury Department tas planned
o give Washington $4,000. A fourth
ational bank has been added to the
list. As yet but part of the cash to
'e paid out has been sent to the banks
hat will be favored.
But at the same time two trust COM