The Washington herald., 1920-12-15
GAS LIGHT FIRM
FILES PETITION
TO FLOAT ISSUE
Washington Co. Seeks
S2,OOO,O00 Flotation in
Near Future.
W.B. & A. CUTS MELON
4 Per Cent Semi-Annual Divi-
dend by Potomac Savings.
Other Local News.
W.B. & A. CUTS MELON

Authorization for a s2.o00,o0o bond
issue was asked of the Public Utili-
ties Commission by the Washing
ton Gas Light Company yesterday
in a petition filed with the COM
mission
The company asked in its petit
tion that it be permitted to issue
81, zoo, 900 worth of bonds at present
the remainder to be put on the mar
ket at a later unspecified date. The
bonds, it is proposed, will pay In
per cent and will mature in fve
years
10 The company claimed the money
was needed to defray capital charges
of the company and to meet other
similar expenses. The company has
not issued bonds for two years.
Directors of the Washington, Bal
timore & Annapolis Electric RAIL
way Company, at a meeting held IN
baltimore yesterday afternoon, de-
clared the regular quarterly diVi-
dend of one and one-half per cent
ON the preferred stock, and divi-
dend of one per cent on the com
mon stock, both payable January 10
to stockholders OF record December
. 81. The distribution on the common
stock is the same as paid in the
previous quarter.
President George T. Bishop came
over from New York to attend the
meeting.
Announcement was made yester-
day afternoon by officials of the Po-
tomac Savings Bank that at board
Of directors meeting held recently
a semi-annual dividend of 4 per
cent was declared, payable January
1 to stockholders of record De-
cember 8. This semi-annual rate
of per cent represents a yearly
increase of 2 per cent over the for
mer annual rate of s per cent.
Yesterday afternoon the stock
holders of the institution held a
meeting for the purpose Of electing
L board of directors for the en-
suing year. No change was made
in the directorate, which includes
the following names: George W.
Offutt, William W. Anderson, sam
ueI Artz. Alphonse NJ. Baer. Henry
W. Offutt, ID. B. Elgin, Peter j.
Clarke, F. Baker Weaver, George
". Offutt, jr., Emory H. Bogley.
IA. Wilson Offutt. ]. William Stohl-
n,au. 2. \. Bowles, DR.. Anthony Nj.
Ray ard DR.. Michael ]. Ready.
H. Il. Mckee, secretary of the
wzshtzgtsn Clearing House Asso-
ciation. a. the al sction Of John Nc
Hugh, chSirInal n the committee
OF thirty s1en actin in the interests
of tfe Foreign TIaa, Corporation,
is making a canvass Of the large
banks in Washington to ascertain
the approximate amount of stock
which will be subscribed here.
The institutions will be allowed
to subscribe stock up to 10 per cent
of their entire capitalization, it was
stated.
Stock shares were all to the fore
during yesterday mornings trading
on the Washington Stock Exchange.
As usual. the majority of the trad
ing was done after close of the reg
ulaT session.
twenty-five shares of Railway
preferred stock, the only active is
sue during the regular call, scored
an sdvance of half point, selling
at ~. An additional twenty-five
lot sale was recorded after call
when the price dropped back to So.
Prices held steady during the re-
mar er Of the share dealings. which
fnc-u5ed thirty-five shares of WASH
ingtoG Gas at 40h and twenty rlve
shares of Capitol Traction at 81.
- A5 L.
sbond ii'sue to be traded in, advanced
disposed of at So.
Charles ]. Bell, president of the
American Security & Trust Com
pany. who attended the dinner in
honor of Davies Warfield, prominent
Baltimore financier, held in New
York on Monday evening, has re-
turned to Washington.
John B. Larner, president of the
Washington Loan & Trust Com
pany, another washingtonian to at
tend Is expected back this morning
Quite the largest turnout of the
season greeted w. B. Thurston, pres
ident of the Baltimore chapter
American Institute of Banking, who
addressed the local chapter here last
night. Mr.. Thurston Thoroughly dis
cnssed Duties of the Note and Col
lection Teller" giving a lengthy and
very interesting lecture.
John r. Waller. secretary of the
International Bank. will leave this
naming for Pittsburgh, Chicago
Milwaukee and other Western points
. - attend stockholders meetings. II
= Expected he will return about the