Evening star., 1914-07-22
Stockholders VOTE
ON CAPITAL REDUCTION
No Opposition Made to Proposed Ac.
ton of Insurance
Company.

After having been subjected to several
proposition to reduce the capital stock of
the Commercial Fire Insurance Company
from s. to $3.50 par value was voted on
today. The polls opened at . o'clock this
morning. and remained open until ;
o'clock this afternoon. AS soon as the
ballots are counted the telers' commit
tee will make a report.
Immediately following the opening OF
the polls today proxies held by Mr. Tut
tie, president of the company. were voted
in favor Of the proposed reduction up
until 1 o'clock this afternoon no ballots
had been cast in opposition to the reduc-
ton. according to Mr.. Tuttle
After an extended argument. Justice
Wright late yesterday afternoon denied
the application of Robert IL: McNeili.
attorney for a large stochholder OF the
company. for the appointment of a recelV-
er for the company and for an injunction
to prevent the report of the tellers' com.
mittee which had allowed the voting OF
proxies. the legality of which had been
called in question by Mr.. McNeill The
court held the necessity for interference
by the court with the internal affairs of
the corporation had not been sufficiently
shown.
While directing the meeting Of the
awaiting the action of the court. to pro-
ceed today. Justice Wright preserved to
Mr. MCNEIL the right to come again into
court when the result Of the voting had
been made known, If he should SO desire.
Attorney James S. Easby-Smith. repre-
sentlng John S. Clemence. who brought
the first application for receivership did
not participate in the arguments yester-
oay The lawyer, by an arrangement with
counsel for the company, withdrew tenn
porarfly his motion for a receiver Argu-
ments were made by Mr. Mcneil for the
stockholder represented by him and by
attorneys Charles A. Douglas and II. II.
Obear for the company
Eldridge E. Jordan was elected presi-
dent of the Real Estate Trust Com
pany yesterday afternoon at a special
meeting of the board of directors TO
succeed Glst Blair, resigned. Mr.. Blair
retains his position on the directorate.
MI Jordan began his new duties this
morning at the recently completed
offices of the Real Estate Trust Com
pany. at 14th and II streets northwest.
1t is stated that more than 90 per
cent of the stockholders of the United
states Trust Company favor a PROPOSE
ton made by the Real Estate Trust
Company to exchange their shares for
ss2ek shi OF the latter concern Should
Estate Trust Company will become in
terested in the remaining assets of the
United States Trust Company, which
are now being held by the Munsey
them when the United states Trust
Company is liquidated.
Announcement has been made Of the
election of James Sharp to the oirec-
tOrate of Commercial National Bank
Savings banks of the District of CO.
lumbia, reporting condition of finance at
the close OF business. June -. show
s9.24a,2f". loans and discounts and
S1O.91s 723.Gs in individual deposits. At
the last call for report, at the end
OF business. March T. these two
items We're entered: Loans and discounts.
g, 531 .91362. and individual deposits,
S1O."75,1747U.
present call are: Overdrafts, S7.:25.:3S::
bonds to secure postal savings. S2U, 40:
United States bonds on hand S1iHJ:
premiums on United States bonds, S625;;
bonds. securities. etc. other than stocks,
81. 1so. .Oos:14 banking houses. furnish
ings and fixtures. s1,os6. 1861; other
real estate. S340. 11I.Os: due from ma
tional banks other than reserve agents,
s1S7. .954.55: due from state banks and
essh ean5erS ies checks and other
clearing house. ss7. 7.276.3t: notes Of other
banks. S2,SS5: fractional paper
currency, nickels and cents. S7,256 II,
lawful money. reserve in bank s3l5,-
4S6.O1.
Items OF liabilities other than indi-
vidual deposits are: Capital stock paid
in. s1.371.357.65: surplus jund. s243,-
1914: undivided profits, less expenses
and lakes paid. s2s6.999.54: due 10 ma
tional banks. 76,946s0; due to state
and private bankers and banks sS4 900;
due to trust companies and savings
"a 1ss 10 s2s:l!s;s2: dividends unpaid,
1885; notes and bills rediscounted,
$1,000: bills payable. s355.305; other
liabilities, s72,478.36.
Trading on the local exchange was
light today. the only busi-
ness transacted being the sale Of fifty
nine shares of stock. This included
three shares of Capital Traction at
par. fifty-flve shares of Washington
Gas at I6$. and a single share Of Mer-
senthaler at 215h