The Washington times., 1914-01-05
COLUMBIA COMPANY
SHARES ARE LISTED
Washington Stock Exchange
Lists Bonds and Stock of
Cincinnati Corporation.

SlISiliilCAI wv SS' SN
The Governing committee of the wash
ington Stock Exchange today listed the
stock and gonds of the Columbia Gas
and Electric Company of CINCINNATI.
The company operates number OF SUD-
sidiary companies, among when are Ihe
East Ohio Gas Company, the Cincinnati
Electric and Gas Company, the Union
Gas and Electric Company, of Clncln-
natl. and the Cleveland Gas Light and
Coke Company.
Its bonded Indebtedness consists OIL
S14. 100000 of first mortgage 5s due IN
1921, and s., 100000 of debenture oS que
in the same year. The STOCK Is
$50, 100000. o..-..., ,,,;+,,
The company serves CINCINNATI with
all of its natural gas for lighting and
practically all for power purposes. II
also serves a large section OF eastern
Ohio. In fifteen towns in Kentucky u
serves the street railway, electric ana
gas light facilities The company owns
100000 acres of gas lands in west VIZ
ginia and Ohio, and has as :nuch more
under lease. The securities are also lst-
ed on the exchanges OF CINCINNATI
Cleveland, and Pittsburgh.
little better volume of business
came out on the local exchange today.
A total of $4,000 of Washington Rail
way As sold at so, and $4,000 OF Po-
tomac Consolidated 5's at SO. y quota
tion lot of Railway common sold at S61z.
Two full lots of Washington Gas sold at
81 and two small lots at the same price.
Mergenthaler was active, 3S shares be-
ing traded at 2122s for the bulk ana
21234 for the last thirteen shares.
RaIph w Lee and Samuel F. Lewis
were elected 10 the board OF directors
of the Washington Market Compalry
this afternoon at the annual stockhoId-
ers' meeting. Lloyd II. Chandler ana
Edward r. Tinker, jr., retire
The following directors were elected
at the annual meeting of the Firemen'
Insurance Company today:
Edward Derrick, Millard 7. Dixon,
John l.. Edwards, George c. Gertman.
Leonard w. GroOmes, Charles w. Kim
die, Samuel s. LutZ, George w. Moss.
Alexander H: Mccormick, jr;; Henri
w. Offutt, John Quinn, Allan L. Walk
er. and James NJ. Woodward.
Commercial failures in the United
States during 1913. according to the
compilation of R G. Dun & Co, were
16,037. which compares with 15,452 IN lsl2
of earlier years. A similar exhibit was
made by the figures Of defaulted in
debtedness, as the total of 272,672 2SS
was much above normal. This, how
ever, was due to several insolvencies
of exceptional size, the statistics for
1913 being especially noteworthy iE that
respect, particularly in manufacturing
lines. The increase in the number OF
suspensions occurred largely in the clos
ing three months of the year. although
showed some growth in the mercantile
and industrial mortality. More or less
expansion in failures is naturally TO De
expected as more new enterprises are
launched each year and the ratio of
defaults to firms in business in 1913 was
80 per cent, against .9S per cent in l9l2,
and compares with about 50 per cent
for the earlier years back to 1905, in
which period the record was lbs per
cent.
In the District of Columbia the num-
Der of failures was less In 1913 than in
1872 but the amount Of liabilities was
about double. There were s. failures IN
1913 with liabilities Of $lS45,9o6, as COM
pared with So failures in 1912 with $751;
30 in liabilities.
Application will be made soon to the
Treasury Department by the First-Sec-
ond National Rank Of Pittsburgh for
permission to resume business. Stock
holders have subscribed to enough stock
to bring about the rehabilitation OF
the institution which will begin opera
tiOn with a capital of 100000 and
surplus Of 81, 10000. This bank, in which
the Kuhns of Pittsburgh were the
largest shareholders. when it closed its
doors. forced the recoivershp for the
American Water Works and Guarantee
Company.
Festus J. Walden, president Of the
Mercantile Trust Company. of st. Louis,
A member of the currency commission
Of the American Bankers Association.
has sent out a statement giving ten
reasons why State banks and trust
companies should enter the Federal re-
serve banking system.
''As a member Of the currency COM
mission OF the American Bankers ASsO-
citation for more than seven years" Mr.
Wade says in reviewing his ten reasons
for trust companies and State banks to
enter the system Il have labored 10
bring about amendments to the pro-
posed banking and currency Legislation
to the end that State banks and trust
companies would have recognition in
anv new system established. ] am quite
sure that this has been accomplished
in the new bill, and that il aCCords them
all privileges that could be reasonably
expected.
Il regard the bill as a safe, practical.
and workable measure. In my judg-
ment, every State bank or trust com
pany that fails to embrace the opTUr-
tunity of joining the new system and
at its very inception, will virtually take
backward step. and with an incalcu-
y,Fr