Evening star., 1921-09-23
PUBLIC UTILITIES
ARE ON UPGRADE
Evidence Not Lacking of Dis
tinct Change for Better.
Equipments Sold.
BY 1. 4. FLEMING.

washington public utility corpora
tions' in common with other CORPORA
tiohS OF the same cha aracter have ,vi-
! denced that for these stocks and ais,
Tor the bonds OF these corporation.
.ne corner has been definitely turn-
while the chances are tha, to, now
on there Will be less poor front work
and more positive evidences Of s,,c-
cess.
frequently trainmen have accented
| euts IN wages. and further reduction.
are in line with the policy thai -
iuaklhs Roadway for the lowering Of
the costs of living.
IN THIS city The showing tof tir,.
:" washington Gss Company and tn, in
| creased earnings of the street railway
anu electric COMPANIES are eInphasiz,,..
The implo owed tenor
BUSINESS depression has NOT S,r;
ously injured any of the public util,
ties' Tor hight and fuel and transpor.,
lioi are Necessities. and the electr!,
companies, heretofore unable To me-,
the demands on them Tor power. hay.
the demand '''
Lower prices for oils have been ,a.
saiFation of the gas compa nies. ana
loWef iuel costs have aided other
utilities
-h'st of the companies have, been
standing still so far as capitaI .N-
penditures are concerned. bur IN.
! pond market at the present time Of
Iers relief in the event of probable
financing.
Demand for investments is so good
that bond dealers are giving encour-
agement to probable fotations Su.-
gestlons are made that even at pres
ent rates il will b. better to prepare
for maturities than to wait until ta..
government is III the market for re-
funding operations.
No Wonder Rate Was Cut.
! February p the Fedora, Reserve
! Bank Of New York sAowed<otal re-
| serves TO net deposits and fodt raj re
| serve note liability of si.l per cent.
+. Something had to be done to do busI
ness.
| Richmond Reserve Bank. on tn,
other hand. held but il.6 per cent re-
| serve. while Minneapolis and Dallas.
! the other borrower banks held 80 :,
/ and 39.6 per cent. respectively. Al
! lanta was pegeed al Ala per cont.
! Evidently cotton is not moving. and
| frozen credits in the sunny south ate
F; as slow to thaW out as the loans rn
wheat in the chilly northwest
Boston has followed the lead OF New
| York in "A reduction OF the discount
| rate to ) per cent. effective today.
| equipment NOttS Solu.
Another batch of equipment notes
/ held by the government, bearing per
| cent interest. has been sold White
| Weld & Co. were the largest buyers,
| securing many of the most desirable
| issues offered, including notes of New
/; York Central. Michigan Central,
! Louisville and Nashville. Atlantic
| Coast Line. Chicago and Northwest
ern. Delaware and Hudson. Norfolk
and Western. Chicago. Burlington ard
| Quincy and Jersey Central. Horn
; blower & Weeks took the last eight
maturities of the Richmond. Fred-r-
| icks ksburg and Potomac. amounting to
sJ2S.409.
Premiums on Certificates.
| The only Treasury certificates that
are not commanding a premium are
| the two issues maturing October 10.
/ The last three-year notes put out are
! 100 5-l6 bid and 100 ZIG asked. For
the 81. notes maturing June. 1924.
premium Of one poin, is bid.
Dividend Declared.
Directors of the American National
Bank have declared the regular quar-
terly dividend of per cent, payable
October = Transfer books will he
closed from september 26 to SC, in
elusive.
Personal Mention.
Gregg C. Burns, cashier of the
Northwest Savings Bank. has re-
turned from a vacation spent at At
! lantic City.