Evening star., 1921-01-27
WASHINGTON TAKES
NOTES OF GAS CO.
Big Investment Demand for
Small BondS-Loca Sc
curities Prices Steady.

According to Eugene E. THOMPSON
OF crane. Paris & Co., the sale of the
Sl,20O,000 Washington Gas Light 7h
per cent notes has been very success
having been placed. There has been
very little sale for the notes outside
OF washington, practically the entire
amount Of the flotation being takeh
in the city by banks and investors.
Mr.. thompson cites as unusual the
large demand for bonds of 500 de-
nomination. provision having been
made for just such an inquiry, which
was sufficient to absorb thousands Of
dollars worth of notes in the ag-
gregate.
From statistics furnished with the
sale literature 1t is learned that last
years gross earnings. partly estimat-
ed. were $5.147 sSS; gross incomeA
$60O,324. from which $33S.l62 inter-
est charges are deducted, leaving
$260.155 for the net corporate in
come. Gross revenues of the corpora
but because of the great cost Of
everything entering into the manu-
facture of gas the net has been de-
creasing, save in 1919. when the net
increased to $320.663. as compared
with $251.190 in 1918.
Kansas City Reserve Bank.
The federal reserve bank of Kan
sas City made net profits during tho
year 1920 of $5,540,6S1, or 100 per-
cent On its average paid-in capital
stock. OF the net profits. S2.240,228
were paid to the government as q
franchise tax, s257.672 paid to mem
per hanks as dividends. and $2.7e3.-
1858 added to surplus. The surplus of
THIS bank is now $9.15S.s14.
hrst introduced by this bank. was put
into effect April 19. 1920. The report
says the average rate of discount was
o.fo per cent, compared with a fat z
per cent rate in Chicago, New York
and Minneapolis. Total loans, $1,677,.
943,229.
Personal Mention.
Carl Naumburg Of New York, as
sistant manager of the bond depart
washington. w for a conference with
Thomas w. Brahany & Co.. who ham
die City Service and other Doheny Sc
curities here.
Local Stock Market.
Public utility stocks and bonds fur
nished the bulk of the business on to-
days session Of the local stock ex-
change. Capital Traction shares
brought SAN. Railway preferred was
Gas were made at 37A. Washington
share.
Bonds were fairly active at 81 for
Capital Traction IS. and 76 for WASH
ington Gas SIS.
Postal Savings Investments,
Investments Of postal savings funds
in liberty issues to date have reached
the total of $111,28S,750, par value,
The use OF savings for this purpose
started in September, 1918, with $25,.
100000 purchased, and $86,000, 900
more in the closing months Of 1920,
Other bond investments of the postal
system total $7,063,9 $50. This amount
represents the taking up Of its 2H
per cent bonds. Savings depositors
purchased $15s, ,060, and during the
same period the trustees bought back
from depositors s1.284.S20. Retire.
ments as stated, over $7.000,000.
Security Storage Company.
Miss Helen Howison was elected
assistant treasurer of the Security
Storage Company at the meeting Of
the board of directors in January.
Miss Howison has been with the COM
pany for several years and has made
an enviable record in business cir
cles. The other officers were re-
elected, as follows: c. A. Aspin wall,
president; c. w. Pimper, vice presi-
dent and treasurer; c. p. Rayenburg,
secretary; F. A. Ray. superintendent;
H. L. Clayton, manager Of the cold
storage department: Paul Alvey, as
sistant secretary, and Albert NJ. Read,
chairman of the board of directors.