Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-01-31
REORGANIZATION FOR
nPESETT|NG COMPANY
Mergenthaler Interests Offer ST.
625, 900 for Assets of the Ritter
Organization, But Are 0verbid.
Strong Men in New Corporation.
But Little Doing in the Local
Stock Market.
BY I. A. FLEMING.

The reorganization managers of the
International Typesetting Machine
Company recently bought in the assets
of the corporation. patents. etc, at
auction sale, there being but one other
bidder. the Mergenthaler Linotype
Company. The successful bid was
$3.50 900; the losing bid s1.625,000.
The very fact that the officials of the
Mergenthaler company entered into
competition for the patents. rights and
assets. would seem to indicate that the
International Typesetting Company
was far from dead one. and the price
bid would give confirmation to this
theory.
Moreover. there is to be a reorganized
Corporation, In which the Ritter inter-
ests are apparently eliminated, and
with large financial backing.
The company is to have s5,50O,00O capt.
tai - sl,500.000 preferred, $1,0O0,000 sec
ond preferred and 100000 common
There will be no bonded debt.
Charles d. Palmer is to be president
and Robert H. Montgomery treasurer. The
er president of the Northern Pacific Com
pany; II. E. Bull. George c. Haig. vice
president of the American Exchange
Bank Erskine Hewitt, Marsden ]. Perry
Ol the Union trust company OF HrOSl-
dence, Henry Rulender of Speyer & Co..
William Shllaber, vice president of the
Bush Terminal Company and Richard H.
Swartout.
Local Stock Market.
Some one probably familiar with the
story of the reorganization of the In
ternational Typesetting Company sold
Mergenthaler Linotype shares at 16S,
points below the close of Saturday
and points below the high of last
week. Later on the best bid was 1866
Business generally was very slow
on change. Indeed, the weak condi-
tion of the New York market was
enough to make investors bank their
funds and wait a more encouraging
season before investing.
Riggs Realty dong maturity per
cent bonds sold at 161A, and Potomac
consolidated SIS at 99%.
sale Of Union Trust shares was
made at 1909.
Georgetown Gas Co.'s Earnings.
The annual report of the Georgetown
Gas Company was fled with the Senate
today The report showed that the net
profits of the company on gas and by
products had been $57.I4672; that div
idends amounting to $4,000 had been
paid; taxes. s13.ooo44. and interest,
s27.065.50 also had been paid.
While the price of gas in George
town is 81 a thousand cubic feet, the
report showed that the average price
received during 1915 for gas was 92.49
cents.
The report of the Georgetown COM
pany sets forth that the actual cost to
December 81, 1915, exclusive of franchise
of property used in conduct of business
was s1,49i.22346: the paid-up stock
amounted to $4,000: indebtedness Of the
company, accounts payable S7315.02;
loans and bills payable, $4,000; GER
tihcates Of Indebtedness, $1S300O, and
5 per cent bonds, $4,000
The company manufactured 2133674oo
cubic feet of gas. and sold 171,79l,733
feet
Receipts from the sale of gas were
s15s,ss9.60; sale of by-products, ST.
$3.50; from other sources, $2,465.7s.
East Washington Heights R. r. Co.
The annual report of the East Wash
fngton Heights Railroad Company was
submitted to the Senate today by the
president of the company, Arthur E.
Randie. 1t showed that the CAPITAL
stock paid in was s14.s0o: funded debt,
10000: floating debt, s7,44273; extent
of road, one mile, passengers carried
312.l44; total receipts, $S14415. total