Evening star., 1916-10-17
Gas Matters Generally.

The general opinion In financial and
security circles is that the recent de-
cision ordering the Washington Gas
Light Company to dispose of it's hold
ings of Georgetown Gas shares will
eventually pave the way for merger of
the two corporations and for 75-cent
gas for the entire District.
The order of the court was not a
victory for either the Georgetown Gas
Company. as represented by the pres
ent minority control. or for the Wash
ington Gas Light Company, although
the latter company has been confirmed
in its ownership. but with orders to
sell. which is certain. il the decree is
carried out, to substitute cash of suf-
flcient amount to much more than bal
ance the assets liQuidated.
The court ruling was a defeat to the
hopes of the minority control that the
$3.50 shares of Georgetown Gas stock
would be ordered cancelled or returned
to the treasury of the Georgetown Gas
Company. which. had the court so
segregated minority of the stock en-
tire control of the corporation.
On the books of the Washington Gas
Light Company the $3.50 shares of George
or 1T s4s.06 a share. a comparatively
low price considering the small capital
izatton of the Georgetown Gas Com
pany-Iust the same. practically. as
when originally chartered
\ sale was made on change some
months ago at go and at one time the
stock was held around $50 a share
At the present time the majority
and minority holdings are both prac-
tca)ly segregated. less than a score
OF people owning all OF the minority
holdings. and the Washington Gar Light
Company. confirmed in its ownership
of the control but only to Iiquidate.
Some three years ago or a little more
acquired the majority of the stock not
held by the Washington Gas Company.
and still hold practically all but the
$3.50 shares owned By the latter They
from participation in dividends. cues
TONED in court the right of the COM
bany to hold stock. receive dividends
or vote on the Georgetown Gas hold
1ngs, and appealed to the court.
once at least. probably oftener. con-
1erences have been held looking toward
merger, and once an option was OBJ
taihea: rumor places .he price better
fhan $50 a share for the Georgetown
Gas Company minority stock.
II was hoped to get merger bill
throush Congress, but the matter
failed and the option was forfeited.
Just who or what interest will buy
the o.o40 shares of the Georgetown Gas
VI d x
Ton company remains to be seen The
minority holders would like to acquire
ooo shares or enough to give them alb
soiute control. but the question is an
open one as TO their ability to do So
The directors of the GEORGETOWN Gas
company VIII take up the various fea-
lures OF the situation at a meeting to
De held in the immediate future
IL is also within the possibilities tha,
the Washington Gas Company may an.
peal the decision. but not among the
probabilities.
The dividends go to the buyers of the
s.aio shares. but they will have to pay
for the cash as well as for the stock
as the price Will carry the dividends
1t has been mentioned that there woult
be little equity in making a present tc
purchaser or purchasers of the ac.
cumulated dividends-S2.50 a share ne,
annum for two or three years past
which held in escrow by the Farm.
ers and Mechanics National Bank o.
Georgetown.
Bankers Association Election.
The annual meeting of the Distric,
Bankers. Association will be held mex
Monday evening. Reports of the va.
r.ous officers and committees will b.
read and the annual election for Of
Gcers will occur.
As q result of the rotary systeu
adopted by the association, the presi
dent Of the association retires and tn,
Arjt vice president succeeds, SO tina
the present presidential incumbent, W
r. GaIliher. VIII retire and be succeed
ed by John Poole. president Of tn
Federal National Bank
Corcoran Thom.- the present secon'
ice president. viii move up to the frs
vice presidency. and new secon'
"ice sident Will be chosen.
1t is understood that Edmund S
Wolfe. ca shier OF the District Nationa
Rank. has no opposition for recollection
TO the secretaryship.
Condition of the Treasury.
The condition of the United State
Treasury yesterday:
Net balance in general fund, SIS,
429.ssl.
Total receipts, s1.454.sss.
Total payments, $3.s72.4s3.
The deficit this fiscal year is $72,sS1,
0es. against a deficit Of s43.941s55 las