The Washington herald., 1914-07-22

share for share, and It Is understood
that a plan for looking TO the accept
ance Of this proposal was adopted, which
may offer a similar opportunity 10 all
stockholders in the United States Trust
Company who desire TO come IN This,
however. will not involve the transfer
OF any Of the assets OF the United States
Trust Company, but merely the stock OF
Individual shareholders, and with the
present property and interests OF ths
Real Estate Trust Company. It Is stated
that the exchange Of stock proposed VIII
bring to the stockholders of the United
States Trust Company such additional
values as will largely recoup any losses
sustained by the recent suspension OF
the United States Trust Company.
All the assets of the United states
Trust Company are still being admins
tered by the Munsey Trust Company al
though the advances made and all obli-
cations incurred by the Munsey Trust
Company at the time II assumed charge
for the protection Of depositors are now
being paid out OF such assets at par
ana accrued interest. and It is expected
within a short time the net assets re-
sulting will be segregated and held for
the benefit of the stockholders OF the
United States Trust Company. Those
stockholders who exchange their stock
for that OF the Real Estate Trust Com
pany, II the plan now contemplated goes
through, will have their interests repre-
sented in their proportionate share Of
such net assets and in the added value
coming from a participation in the busi-
ness OF the Real Estate Trust Company.
The largest development of that COM
pany is now going on at Bradley Hills,
comprising q strip OF land running from
Chevy Chase to Great Falls. a distance
of about eleven miles, and containing
1000 acres, in which a boulevard and
street railway have been built. which
land is being sold for handsome villa
and home sites. The Real Estate Trust
Company also owns other city and sub
urban property, and Is conducting a gen.
eral real estate business.
juno Earnings Improve.
Earnings of the railroads. for the month
Of June, promise a little improvement
over the returns for May, when a de-
crease in gross of s.O5 per cent, and In
net Of 1S47 per cent. was shown. A
compilation of the earnings for June OF
roads that furnish early estimates OF
gross, covering a little over one-fourth
Of the country's mileage, shows de-
crease in that item OF 5 per cent
For March, April. and May the4e es
tfmated returns forshadowed fairly we'll
the final results OF those months. March
estimate was a decrease Of 0.2 per cent
and final an increase of % per cent;
April estimate was a decrease of SO per
cent, and the final was "a per cent:
May estimate was q decrease OF "a
per cent. and the final eos per cent
That these estimates are so close to the
final result is rather remarkable. when
are confined mostly to Western crop car
riers and roads operating in the South
and Southwest, and none OF the larger
trunk lines included.
Simmons on 1. c. C.
z. c. Simmons. president of the Sim
mons Hardware Company. of st. Louis,
is quoted in a market letter of Midden-
dorf. Williams & Co, OF Baltimore, as
The greatest danger now confronting
the country is the dishonest and shame
full treatment given the railroads. Pub
lie opinion, unfairly made, has caused
the robbery Of the railroads for eight
years.
IF were President of the United
States with power over Congress-ard
there have been such Presidents-I would
egislate the present Interstate Com
merce Commission out of existence, and
two weeks afterward I would enact an
other law creating a new commission.
and I would see that fair men, unafraid
Of muckrakers, demagogues. and Social
lists, thereafter regulated the freight
rates Of our railroads. l say this, al
though ! am a shipper and pay out large
sums to our transportation companies"
Investigations by the Department OF
office of markets indicate
that shippers and carriers are cooper
ating more closely than is usual this