The Washington times., 1913-05-28
LETTER BUYS ISLAND
FOR GAS COMPANY
Admission Is Made Today That
Purchase Was for Company.
Banks Get Cash.

The report in yesterdays Times that
the Washington Gas Light Company
had purchased Analostan Island, which
was denied by officials Of the company,
was admitted today at the office of
President Letter. Mr.. Letter has pur-
chased the property at about SO. 900
and will eventually turn II over to the
gas company.
As pointed out yesterday the COM
pany's plant near Rock Creek at its
confluence with the Potomac is upon
property included in the Potomac-Rock
Creek Park connection. This will neces-
state its removal when the Government
is ready to commence the execution of
that project. Analostan Island is con-
sidered an ideal location for the plant
and 1t was with this in view that the
president Of the company made the
purchase.
Washington Gas took brace on the
sold up to san. The trading started at
S4h, at which price a quotation lot was
sold then dropped a quarter and then
steadily rose. A total Of 225 shares
were traded in the movement.
Mergenthaler continued strong, seven
The feature Of the bond trading was
Potomac Consolidated SIS, Of which
$4,000 were sold at 101S.
District tax money has been deposited
with the national banks Of the city by
the Treasury, and another is looked
for on Saturday. Within a few days
after the first of the month two-thirds
OF the entire tax collection, but not to
exceed $1,000 600. will be deposited in
the Washington national banks.
Officers of the Lincoln National Bank
are gratified at the progress the banks
savings department is making. It was
stated today that the savings deposits
Of the bank amount to about SIS. 900.
although the department was institute
ed January 2, 1912, less than q year
and half ago. Total deposits have IN
creased q per cent in the past year
and Is per cent since June 80. 1910. In
the last period loans and discounts
have increased 90 per cent and cash
and reserve 20 per cent.
All the banks and financial institu-
tions Of the city win be closed Friday:
Saturday will be due and payable next
Monday. The Stock Exchange and lo-
cal brokerage houses will also be closed
on Saturday, although the banks VIII
Be open as usual on Saturday morning.
having dealings with the banks that
after tomorrow the only opportunity to
do business with them for the balance
of this month will be on Saturday morn
ing. Savings bank depositors' attention
IL also drawn to the fact that Monday is
June and deposits for June interest
should be made not later than Satur-
day.
Maximum Yield and Minimum Risk"
is the tttle Of q monthly leaflet issued
by Slattery & Co., New York. the
current issue Of which was received
today by Washington investors. The
current issue gives list Of preferred
stocks showing prices as Of May 10
and the investment return on each
based on that price.
Baltimore bankers and brokers this
afternoon rendered a luncheon to Presi-
dent J. e. Aldred. Of the Consolidated
Gas, Electric Light and Power Com
London where he successfully placed
8. 500. 900 of the debenture stock Of the
company.
Summer Tours" is the title Of an IL
Illustrated excursion book just issued by
the passenger department of the Balti-
more and Ohio railroad. The book Is
one Of the most elaborate publications
Of its kind issued by Eastern railroads,
containing over 200 pages Of informa-
ton relative to fares and routes.
The st. Paul experiment Of selling
city bonds at department stores where
investors may obtain them in small de-
nominations is to be followed in Balti-
more where eight city issues amounting
TO rs 10000 will thus be offered.