Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-14
NATIONAL BANKS
INCREASE HOLDINGS
OF UTILITY ISSUES
government Figures Show
Growing Demand for This
Class of Investment Sc
curitiies - Three-cent Fare
Fight Still On.

national banks of the country are
,onp the most conservative purchasers
!, socurities. Their directors consider
isely and we'll before they invest the
moneys intrusted to them and 1t IS APP
,rort that any security which they pur-
b.se must have behind it, to marked
al,,,roc the safety and conservatism
.hi,b characterize the conduct of the
banks themselves.
II is interesting to note what the ma
,iona banks have been doing In the last
,sv years along the line of public utility
Investments. Figures compiled by the
limited States Comptroller of the Cur
',ency establish the fact that the only
4, ,ocurities IN which these banks increased
AbeIr holdings in the last five years were
those of public service corporations.
4 There was a consistent increase each
|3year until l9l3-the last figures available
when the percentage reached 1874 per
oont Railroads aggregated 1873 per cent.
y !, tho bank holdings in 1909; in 1912 they
had decreased to 3O.i per cent and last
kear they represented only 2S.S per cent.
limited States bonds represented 1L2 per
lor, of the holdings in 1909, but by 1918
Lbey had decreased to 152 per cent. state
md muncipas decreased from 23.7 per
tront in 1909 to 15.2 per cent. in 1918. These
hgures represent percentages of the total
Investments
The principal reason for the increased
hopularity Of public utility securities is
h.. fact that they combine safety of
principal aud interest with attractive
4ield, II costs more to live these DAYS
{han IL did ten years ago. The conse-
Auence is that the investor to meet the
additional drain on his income, naturally
furns to investments in securities which
kield the largest return and are, at the
same time, safe and conservative. Cap
sta flows into investment channels where
hhere Is the greatest return, founded, first
3pf all. on stability. High-grade public
htility bonds offer these inducements in
q marked degree TO prospective investors.
The report Of the Tnterborough Rapid
'Eransit Company for the year ended
3June %, 1914 makes a favorable show
bng. Passengers carried increased 17.550,-
h55; gross earnings increased S1,Ol7,5
Bath. n Y, wants to build n $4,000
municipal light plant. The plan is being
opposed by the Bath Gas and Electric
Company and the Empire State Gas and
Electric Association.
4 City Solicitor Of Toledo. O., has been
directed by the county to produce "con-
lCrete objections To the complaint of the
Proedo Railway and Light Company
against the enforcement of the thrCe-cent
pare ordnance The company says it
lhas lost an average Of $1,000 day since
March g, when the fare ordinance be-
came effective, through it's refusal to ac-
|eept three-cent fares on its cars.
The Arkansas Light and Power Com
Ipany has been Incorporated at Little
|Rock, Ark, with Sb50O0o capital to build |
and operate power plants.
Commonwealth Power, Railway and |
IAght Company. one OF the largest pub |
hc utility holding companies In this coun- |
Iry gained 81 pcr cent. i'm gross. IL pcr !
cent IN not, and - per cent. I'm balance |
N the l2-mouth period ended July 81 last. |
Gross earnings Of the company for Julv |
increased 39 per cent, and net gained |
w per cent The company operates in
NH'nl-ah. Illinois, Indiana, Ohio and Wis
consin' p. W. Clark x CO., Of this city.
are associated in its management.
Lehlsh Valley Railroad has pctitioned
she Public Service Commission of New
iorH Tor permission to discontinue pas
fcsnser service on its branch line from
ieheVa to Seneca Falls. through Wafer
Ioo' Attorneys for the road declare that
F'eFag" passenger receipts were only 16.6
hEAL ESTATE FOR RENT
RENTAL LIST
r,,,r,t 81, q, ~slFEI. ~ 80.
FCI IN,Fin TN anl a.iovh!ll SITS Established tSc-