Evening star., 1914-10-12
washington GAS CO.
DECLARES DIVIDEND
Regular Distribution Of $1.20 q
Share Ordered to Be Paid on
November l.
Bank Will Change Location-Hin's
Method Of Financing Grows Popu-
lar-Financial Gossip.
By I. A. FLEMING.

By I. A. FLEMING.
Directors Of the Washington Gas
Light Company met at 1 o'clock this
afternoon and declared the regular
quarterly distribution of $1.20 a share
on the capital stock of the corpora
tion. All directors were present. with
the exception Of Mr.. Letter. who Is out
Of the city. While there has not been
the slightest question on the part OF
those who were posted as to the ex-
cellent condition Of the company's bus
mess as to the regular distribution,
still the actual declaration, payable
November 1. is satisfaction to stock
holders, especially in these trying days.
President Reeside is authority for
the statement that the business of the
corporation Is running on a record
basis. with every possible effort to
hold and enlarge consumption and
keep consumers satisfied
Bank Changes Location.
The Washington and Southern Bank
has concluded satisfactory lease of
the banking premises on F street, ad
Joining the New Willard Hotel, for
merly occupied by the International
Banking Corporation.
President J. Selwin TAFT of the Wash
ington and Southern Bank was for
merly manager of the International
Banking Corporations local branch.
and practically made the arrangements
of the banking Office which his institu-
tion will shortly occupy.
He believes that the r street location
will not only be more convenient for
cation is more desirable than the main
cation Is more desirable. that the main
Ann nf he OF H,,f1
which has been temporary headQuar-
ters of the Washington and Southern
Bank from its formation. The change
will be made before the advent of
November.
Delay Betterment.
The Southern Railway Company has
asked and obtained the consent Of the
railroad commission of North Carolina
to postpone the carrying out Of certain
improvements ordered. in view Of the
decreased business of the company.
The double tracking of the system
from Atlanta to washington, for which
funds had been arranged, is one of the
ventures delayed, the cash being used
elsewhere.
New Financing.
It was James J. Hill who first set the
example against piecemeal financing
of making mortgages on small sections
Of the roads he wished to finance. and
making several small mortgages do the
work of one blanket mortgage that
would finance for a long period of time.
Other managers have taken the matter
into consideration and have found fire.
ouent ref1nancing operations irksome,
especially at this time.
The Baltimore and Ohio Railroad
Company is the latest convert to the
better method of doing it. and plans
great blanket mortgage. which will
do its financing for years to come.
Corporations in position to make fu-
ture plans are fortunate: companies
which have. no partial financing to do are
are days when money has a high value
Need Help.
It grows more evident every day that
the plight Of the railroads must be re-
Neved before the country can enjoy any
thing like a return Of prosperity; before
the value will be under our securities
held abroad in such form as to make
foreign investors content to hold their
American Investments.
John H. Davies & Co., leading New
York bankers and brokers. have this to
say:
1t Is 1nconcelvaole tnat any InlnklnB
man, whatever his position in business
or political life, can fail to realize that
the Industrial activity of the country Is
largely dependent upoq the prosperity
OF the railroads: Their ability or In
ability to spend has such direct bearing
upon the rise and fall of the business
tide that their importance as sources OF
prosperity Is second only to that OF the
vide. Their expenditures Of both income
and capital have such great enect upon
the employment Of labor, the demand
for Industrial products. and the expan-
preserving their spending power should
be considered paramount But 1t has
not been preserved. On the contrary.
for years past it has been steadily cur
trary federal commission holding and
exercising power to prevent changes in
transportation rates to Offset unavoid-
able increases in operating costs. And
now q situation has arisen whereby this
curtailment Of railroad spending power
and the consequent impairment of rail-
road credit have become doubly serious.
both to the railroads themselves, and
to the nation.
''The relief must come from an ad-
vance in transportation charges. It can
not come from increased traffic with
the country's business tide at the ebb
nor from economies. which already have
been carried to the danger point. nor
from the money market, where new
loans are unO0talnaDl6 ana Where Tor
some time to come extensions will mean |
Increased interest charges |
Financial Notes.
Steel corporations generally are COM
planning of poor business as the natu- |
raj result of the poverty Of the rail-
roads. which prevents needed upkeep |
and extension expenditures. While |
there are some rather important for |
eign orders, the general business of |
the steel producers is exceptionally |
poor.
While the foreign exports Of October |
10 week were less than the record |
week preceding. they were largely in !
excess of the exports for the corre-
spending week of 1913-the actual fig
ures being $fO.196. .623. as compared |
with $S,737.955 for the same week in |
1918.
There was a dearth of presidents and |
cashiers at their usual posts in the
banking district today. Richmond has
the call, and the Washington contin-
gent is looking for better business as
well as listening to potential argu-
ments on financial topics.
United States Steel Corporations un-
flied orders September 80, 1914, were
3,7S7.667 tons, compared with 5,003,-
7s5 tons same date 1913. The quarters
untitled tonnage Is the lightest Sep
tember 80 quarter since the same date
1911, when 3.611 .317 tons untitled orders
were on the books of the company.
ALT