Evening star., 1915-12-21
THEWORLD 0EFlNANCEANDIRADE
INCREASE IN EARNINGS
0F'WASH|NGTON GAS CO.
For Calendar Year Net Returns Will
Be About $6so,0oo, Showing
Surplus After Dividends.
Bonds In Fair Request on Local
ExclIange-Bankers' Meeting.
Greene Cananea's Prospects.
BY I. A. FLEMING.

Greene CananeaE prospects.
BY I. A. FLEMING.
From rood authority it is reported
that the net earnings Of the Washing
ton Gas Company. after fxed charges
and ALI expenses, for the calendar year
ending December 81 will be very close
to $6S0.000. -
Dividend requirements cali for $685.
900, which would leavefa surplus aiter
payment Of dividends Of $56,o00.
This Is the best showing made by
the management. and every conndence
Is expressed of the growth in busi-
ness.
There has been no exceptional IN
creases in receipts from month 10
month, but steady and satisfactory
gain, ard the Increased earnings nave
been Augmented by economies In 'oper-
alton.
Last year there was a deflcit In the
earnings, so that the Improvement this
year ID all the more welcome.
Bonds We're Fairly Active.
I" There was just a fair demand for
bonds on the local stock exchange to-
day and prices were steady. Sales m
cluded Washington Gas 5s at 1904
Potomac Electric first mortgage 5s at
1867 and consolidated 5s OF the same
company at 99X. . .
The stock trade was but little better
than nominal A few shares OF Mer-
renthaler sold at 1eS to 1851, tndtcat-
Ing strength, while a. few Christmas
shares Of American Security and Trust
brought 266 and 21o.
Dividend Declared.
The Firemen's; Insurance Company
will pay q per cent semi-annual divi-
dend January 4. books closing ,Decem-
ber %.
Bankers Association Meeting.
At the meeting of the District Bank
ers' Association held last night un"
qualified Endorsement vas given to the
so-called bad check law. which has been
approved by . number Of commercial
bodies, and the association agreed to
use every effort to SECURE the passage
of the measure.
The bill makes the passing OF = bad
check prima faeie evidence of intent to
defraud and prcyides that immediate
payment Of the check by the maker re-
and imprisonment Is provided tor ut
tering bad check.
The matter Of the engagement Of .
private bank examiner by the associa-
ton was debated at some length. and.
not reaching definite action. was again
consigned to the table. 81, !,
Various committees reported. George
T. Fleming of the Union Trust Conn
pany was appointed committee Of one
70 Rt a lnf
Exchange and make the necessary ar
rangements for furnishing the second
floor Of the new addition to the Ma
tional Savings and Trust Company
the washington Chapter Of the Amer.
ican Institute Of Banking being Joint
occupants Of the quarters Ratt1ot.on
of this agreement was also part Of last
nights meeting. x
oreene-canansa Dividend. =
Greene-cananea Copper has naturally
felt the eject Of the Developments in
the Mexican situation and 4s was bid
for the st6eaf on the local exchange to-
day.
The plants Of the Gresne-cananea Cop
DER Company at Cananea are operating
close to fun. capacity. There are six
blast furnaces and one reverberatory in
operation, out Of q total Of eight blast
furnaces and two reverberatories-
( Directors Of the company meet this
week for dividend action, and 1t Is be-
heved that a dividend Of per cent will
be declared. This would require dis
bursement Of less than $500.0oo. This
disbursement would follow the declara-
.tion Of dividend by Greene Consolidated.
&he operating company.
week ago the company had 1,20o men
at work. and this force Is being rapidly
increased. 1t Is expected that $500 or
$500 men soon will be at work. In October
production was at the rate OF 100000
pounds which is close to Greene-Can-
anea's rated capacity Of 50,000.000 pounds
a year. Between June 16 and October
81, on partial operation, the company
turned out more than 100000 pounds
of copper.
Condition Of the Treasury.
The condition of the United States
Treasury today was:
Net balance in general fund. $780,
1851,
Total receipts. s1.s26.s53.
Total payments. s1,sSs,2so.
The deficit tnis fiscal year is S5i. 49,
I73, against a deficit of s55.i20.510 last
year exclusive of Panama canal and
public debt transactions.