Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-05-22
LOCAL POWER COMPANY
OFFERS NEW BONDS
BY I. A. FLEMING.

By I. A. FLEMING.
The Potomac Electric Power Com
pany today announces the Offering OF
s750,000 Potomac Electric Power Com.
pany s per cent bonds. part OF the re-
Gently authorized issue, approved by
the public utilities commission, of ST.
$4,000.
Subscriptions may be made up to May
81 at noon, when the books Will close
The bonds are redeemable any interest
day at 1921 and will be sold to the
highest bidder or bidders.
In announcing the floatation of the is
sue the company states that 1t holds In
it's treasury s1.700.000 consolidated 81 to
take UP the first mortgage 5s OF IKE
amount when due. June u, 80 80
is little probability Of the first mort
gage SIS being redeemed BEFORE ma
turity. ,o-,+;on
The gross earnings of the co ~ or o9a,
are given ., as sz 5oll 9sis s "a The
amounts available for interest in the
three wears mentioned were ssos,o-i'
sI.01e,7s3 and s1,114,47S. respectively,
The Potomac Electric Power Co,n
pany has s6,000,0OO capltai stocA oo'
standing.
Trust Company Elects creasurer.
Tho directors of the National say
mos and Trust Company at a reg
Meeting held yesterday Afternoon
lected Charles c. Lamborn as th i.
mrer. filing the vacancy caused by sme
resignation. a month AKA sos been with
the institution for nearly twenty Sea ~ .
and his promotion is in line WIN INC
civil service policy Of the COMPANY: of
G. p. Wilson. another OLD enpaost ~
the company, was CHOSEN DIS
treasurer.
Pushing the Liberty Bonds.
r ,o.,, liberty bond committee.
1ohn Poole. representing the national
hanks. Corcoran Thorn the trust Gull
panies. B. F. Saul the savings oanne
and Eugene E. Thompson ana Eusene
iii hold daily meetings, commencing
this afternoon, for the especial purpose
~ aiding in and pushing the safe Oh
liberty bonds in washington.
Investment Interests Meet.
convention of investment bankers
and Of investors in railroad securities
will begin its sessions IN assist the
III ;iroads in obtaining the increase in
fra;rht rates for which they are con-
tending. ,o;r.ad hv
John Poole, president of the District
IonLars. Association, to attend the
meeting and represent the organisation.
n is estimated that Washington in
terests own about $10O.O00,Ooo OF ran
road securities, stocks and Donds, there-
fore the subject OF higher rates is one
in which there is much local interst.
Maryland Bankers Association
Maryland bankers will hold their
state convention at Atlantic CITY uur-
ing the rest Of the week.
James A. Cahill, vice president OF the
Commercial National Bank. left this
noon TO be in attendance on the con-
vention.
Reeside Elected Director.
In carrying out a plan for the merger
of the Georgetown Gas Company with
the Washington Gas company. n ..
poration, was elected a director OF the
former company yesterday afternoon.
The Day on Change.
Today,s session of the Washington
stock Exchange developed little firm
err tone in the market for bonds, Wash
ineton Gas SIS selling at 102h. as COM
pared with 102, the last previous sale.
The hid price for American GRAPHIC
phone Is was raised to 00k-A point
better. Capital Traction 5s, 1927.
Stocks sales were rather light. Wash
ington Gas leading with quite num-
her of small transactions at 72H to 80.
A little Lanston sold at 10Y; few
shares Of Capital Traction at 78k, and
an odd lot of Mergenthaler at 14S.
Condition Of the Treasury.
The condition of the United States
Treasury at close yesterday showed:
Net balance in general fund. s149,-