The Washington herald., 1914-01-21

NC" nahpuch DtCiineus
The President declined to attend the
annual banquet of the New York State
Bankers Association held in New York
last night.
In the course of a letter acknowledging
the receipt of the Invitation the Presi-
dent wrote:
unfortunately. as for myself. the even
ings of the next three months are so
filled with engagements, which necessar-
lily fill the Presidents calendar during
this season that 1t is literally out of the
question to add any more without shut
ting myself out from all opportunity to
work at important subjects out of Office
hours. 1t would be very unconscientious
for me to give myself any further liberty
from my desk for the evenings are the
only time have to myself"
North Capitol Election.
At the annual meeting OF the North
Capitol Savings Bank held yesterday aft
ernoon Warner Stutler was elected first
vice president, T. Frank Morgan. second
vice president, and Theodore Michael
third vice president. The board OF d.
rectors elected by the stockholders in
cludes the following new members: H.
Pillsbury. c. f Young, ]. II. Carter.
A. o. Ollie. Gustave Hartig. L. ]. Robin
son, George Clagctt, and r z. Dore.
Loan Rates Raised.
The increasing of interest rates by the
life insurance companies of New York
has been brought about by the large de-
mand for loans by policy holders. At
the close of 1872 the twelve insurance
companies of New York State had nearly
~, 100000 loaned on policies, while in
1857 there was less than s20o.O00oo0. A
majority of the companies reporting for
last year show an increase in the amount
OF loans to holders not only in the United
States, but throughout the world.
The announcement that the Mutual
New York and Metropolitan, have raised
their interest rates on policy loans from
. to per cent indicates the tendency Of
the life companies to check the advances
TO policy holders. The Mutuars increase
went into effect last year, the other two
companies January /.
Friendly Suit Filed.
The Western Maryland Railway Com
pany states>that the suit instituted by
1t against the heirs OF the late John NJ.
Hood In the Circuit Court Of Washing
ton County for the conveyance to IL of
certain tracts of land is an amicable
proceeding, and that the necessity for
its institution arises from the fact that
certain of the possible heirs of John
Nj. Hood are infants, and therefore un-
able to convey title in the ordinary man.
ner. The land was acquired many years
ago by the Western Maryland Railroad
Company, and as a matter of con-
venience was placed in the name of its
then president, who has since died, a
usual and customary course i'm like sit
uations. and the present friendly suit
was necessary in order to clear up the
title.
Ohio Corporations Report.
Public service corporations of Ohio in
creased So 162,210 in value during 1913,
according to the valuations fixed by the
State tax commission. These valuations
rose to s.6S, 81, 49,. against $685. Oss, $40 in
1872. In 1910, when the old system4<of
assessing by county auditors was in
force, their aggregate valuation for tax
alton purposes was only Se25, ,2a6,0f7. The
figures given are exclusive of the value
Of the real estate used in operation such
being assessed locally.
LehtSh Valley Report.
The next Lehigh Valley dividend will be
paid in April, a quarterly 2s per cent
disbursement, following the decision of
The board to change the payment of the
10 per cent dividend from a semi-annual
to quarterly basis. The regular semi
per cent was paid this month.
Lehigh Valleys revenues suffered in the
closing months of 1913 on account of the
essened demand for coal due to the
weather conditions, but a liberal
lpkeep policy is continued as the road
will have no difficulty In covering its
70 per cent dividend requirements in the
year ending June 30 next.
The report Of the company to the Inter-
state Commerce Commission for July
November. inclusive, is compared as fol-
ows:
lsl3 1912