The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-01-30
Observation-Disclosures

held by the Washington Co." Would
their purchase made the new owner the
real and legal owner?
In like manner the Washington Gas
\ Company cannot legally sell gas west
| OF Rock Creek and yet it has and the
Georgetown Company has bought and
paid for it. The Rosslyn Company. a
Virginia Company, has also sold gas in
Georgetown. that mysterious section OF
| Washington without boundaries.
1t would seem that the Washington
Gas officials made mistake when they
did not take the $l60 a share. II would
have materially enriched the Washington
Gas Company's treasury and the $780,
500 would have been rich dividend FOR
the shareholders
Nearly a years dividend
No matter who would have bought IT,
the offer was made.
But could the Gas Company have sold
what they did not possess, legally?
Would it have been a sale?
Better BE settled.
The Washington Gas directors have
discussed and cussed the entire matter
time and again, have almost been on the
point of buying minority holdings and
have just missed action.
The par value OF the $3.50 shares OF
Georgetown stock is only $500. and If
the court shall decide on the claim that
it is Illegally held there will probably
be much more than this reimbursement,
as the stock has sold as high as SD
a share, probably on the theory that
Sl6D was to be paid Tor IT, Actual value
as a dividend Garner has not been con-
sidered for many a day. There has not
been a bid on change for weeks.
The matter has been hanging fire, 10
these many days. The answer of the
and then the adjudication of the matter
either way is better than no way.
American +. a r. Investigation.
The Interstate Commerce Commission
gave formal notice yesterday that II
would proceed to Investigate the Amer
Ican Telegraph and Telephone Company,
in accordance with recent suggestions OF
the Attorney General. Date and place
of investigation has not been determined.
II is a strong combination. lnvestiga-
lions will be directed toward inequality
IN charges for similar service.
Wall street.
As a rule stocks were lower, although
some partial recoveries from the low
were established. American Can, by
reason OF manipulation, assisted ny
stories OF fine earnings, was the leader
in activity and strength the common
terred shares did not hold their gain.
London told the story of rupture IN
peace negotiations.
There were a few strong stocks on the
list. Harvester, on the theory that it
will escape the dissolution order by rea-
son of its self-bustinE, rose nearly
points Illinois Central. on good earn
ings and regular dividend declaration.
advanced point. Petroleum stocks were
points gain.
The best support in the rails was given
to Southern Pacific. which was bought
freely, on the theory that the prospects
of the company. freed from the restric-
items Of the Union Pacific management,
would do much better. 1t was els
higher.
Half points We're the average losses:
Canadian Pacific was under pressure.
Local Stocks.
Bonds were favored yesterday, good in
vestment-buyinE resulting in sales of Po-
tOmac Consolidated 5s at 1Ol 3-s, Gas IS,
at 10 3-S Traction IS at 10 Ga, and Rail-
way IS at S4l-S
Railway common sold sparingly at IS.
A sale of American Security and Trust
stock was reported at SIS.
Miscellaneous.
Baltimore bankers Will take 1000 600 of
the issue of S2,311,000 of Gas Company AZ
per cent bonds. which nave been sold by
the company, the proceeds of which are
to be utilized in retiring the outstanding
shOrt-term notes of the Gas Company,
which mature on July |. MessTs. Lee, Hig-
ginson & Co, the Boston bankers, pur-
chased the securities, and a representative
of this firm went to Baltimore Tuesday
to organize a syndicate of local bankers
for the sale of the bones.
They will be offered to the public around
IS.
Big Dividend.
The directors of the Crown Cork and |
Seal Company, of Baltimore. recently de-
clared one of its regular dividends paid
to stockholders every year. the distribu- |
ton made being so per cent, an addition |
to the regular quarterly dividend of per
cent paid by the corporation. Checks for
the dividend We're received by stockhold- |
ers a few days ago.
The Crown Cork ana Seal Company is |
one of the most prosperous companies in
Baltimore, and every year it permits its
to participate largely in the |
big earning of the company through the |
declaration of EoOd-sized dividends. In
past years the company has distributed |
as high as 100 per cent annually among |
The annual meeting of stockholders Of |
the company was held last week at which /