Evening star., 1920-04-08
NEW NOTE ISSUE
|. BY VIVA. RAILWAY
$4,000 s Per Cents to Be
ISSued-0ividend
Increased.
BY 1. 4. FLEMING.

Notice of new financing was given
this morning to the holders of notes.
bonds and stock Of the Washington
Virginia Railway Company. in a cir
cular advertising an issue of per
cent bond secured gold notes by the
company named to he known az
series A. sS50.o00 notes. and series b.
$4,000. the proceeds to be used 10
refund capital expenditures since 1919.
and for the completion of the Camp
Humphreys extension. Issues A and B
are ahead OF the common and
preferred shares of the company.
The net income of this company
for 1917 was S63.157. for 1918 s105,429.
and for 1919. $23.7s5
officials estimate returns from the
operation during 1890 as follows:
Railway operating revenue. S1.25o.-
600: operating expenses, S135."00, net.
S435,o00. deduct taxes. $4,000. and
add incorporating income. gives
gross income of S43s 500. Interest on
bonds require SlS4.650: on series
notes. $1,000: on series B. $4,000.
leaving an estimated balance OF
Si4l.650.
On a 10 Per Cent Dividend Basis.
At meeting of the directors Of
pany a regular quarterly dividend OF
2ie per cent was declared payabl"
May TO stockholders OF record
April "a. Heretofore the company
has paid per cent and in February
2 per cent extra.
This extra will now be eliminated aud
the companys stock go on a straight 10
per cent basis, although the payment Of
the per cent ia February will make
this years distribution 10 shareholders
III. per cent.
The Security Club.
Over 100 members of the clerical force
of the American Security and Trust
Company met last evening in the rooms
OF the Washington Stock Exchange aud
organized the Security Club. having for
its aims the promotion of the interests
of the American Security and Trust
Company. the promotion of the general
welfare OF the club membership. TO en-
courage education of its membership ard
TO create and maintain a spirit OF good
fellowship among its members.
Charles J. Bell. president Of the
American Security and Trust Company.
the institution to the allotment of space
for clubrooms in the projected new
building when completed. and assured
the occupancy of the stock exchange
rooms for meetings until that time.
James {. Dulin, jr.. was chosen presi-
dent; r. l.. Cotton. first vice presideni:
Charles +. Boswell, second vice pres
dent; Mrs. Marie +. Rohrman. secre-
tary. and Miss Blanch Fry, treasurer.
These officials with four others consti-
tute the executive board. of which
Charles c. Boswell is chairman.
PennsyIvauia Financing.
The Pennsylvania Company is offer
ing $50. 900 Z per cent bonds at par.
due in 1880. secured by like amount
Of Pennsylvania general mortgage 8
per cent bonds and $4,000, 900 Phila-
delphia, Baltimore and Washington
general 6s.
Foreign Exchange.
Pound sterling was quoted today at
t3.S9; the French franc was off TO
.0667: the German mark was f1rmer.
moving up to .01S5. while the Italian
lire was soft at .046.
Local Securities.
Metropolitan Railway 5s were quite
active on todays session of the local
exchange. $4,000 selling at 81 and
81. 900 at 9034.
Sales of Capital Traction shares
were made at S7is and of Railway
preferred at 81.
Continental Trust stock improved to
110.
Mergenthaler sold sparingly at 135.