Evening star., 1922-01-25
ORDERS IN EXCESS
I FOR c. & 0.PLEDGE
First Sale of Kind Under
Federal PIan-NeW In
, stituti0nS.

Ine Guaranty company OF New Ofk
announces that it has received orders
in excess of the amount of the Chesa.
peake and Ohio equipment trust cer-
tificates offered.
This is the first sale of equipment
trust certificates formerly held by the
railroad administration under an ar
rangement whereby the government
subordinates the lien Of one-third OF
the certificates of each maturity and
retains the subordinated certificates
IN effect as second lien on the
pledged equipment. The remaining
tWo-thirds. carrying first lien on all
the equipment pledged. is then sold
TO the public as opportunity offers.
Terminal Taxicab Earnings
The net income or the Terminal
TaXicah Company for the year 1921
amounted to S23.65S.15. according to
reports received by the Public UtiH-
ties Commission yesterday A sew
enty-two wo-cab service was maintained
during the year. the report showed.
Iotal earnings of 1.-THE company
amounted to Si47.3S0.7g, with total
expenses agsregating $A17,544.SO.
FROM the remainder was deducted
s.oS.ls for interest Oil bonds ana
$s.397.20 for taxes.
During the year this company car
r1ed 562,S72 passengers, operating Il
total of 1.452.074 miles.
The Northeast Washington Build
ing Association opened offices for
northeast
The new company is organized
under the laws of Maryland and will
represent a capital of $1,04O,O0O, di-
vided into 5000 shares. The associa-
tlon also will operate North Beach
int
development of that section
John w. Hayes Is president of the
association, Frank j. Lyons secre-
tary. and Luther E. Schriner treas
urer: The directors are ]. Edward
Lewis, DIR. v. H. Esch, DIR. George W.
Boyd, L. E. schriner, +. J. Lyons. Ed
ward Curry. w. C. Ward, Bruce L.
Casteel and John w. Hayes. Mr..
Casteel is attorney.
interests identified with the build
ing ana loan association will organize
a new bank also. to be known as the
East End Savings Bank. which will
be housed in the same building with
the building association. !,
The bank will have a capital stock
OF $4,000. which Will be increased. it
is expected. to $4,000 after three
months of operation. A committee
has been appointed to obtain a char
ter and 1t is expected the organiza-
tion of the institution will be well
l.
LanstOn Acquires Barrett Company.
The Lanston Monotype Company of
Philadelphia has acquired by pur-
chase the patents. business and other
assets of the Barrett Adding Machine
Company. according to an announce
ment made yesterday. The machine
will be built in the Monotype factory
and distributed through that organi-
cation hereafter.
1t is pointed out by the new pur-
chaserS that sensible saving in
manufacturing costs will be the re-
suit. as the Barrett machine and the
MonOtype keyboard may be manu-
factured by men. machines and meth
DDS almost Identical.
The Barrett adding machine lists.
adds, subtracts, divides and multi
plies. printing the proofs Of its op-
erations. 1t is portable. weighing
but twenty : three and one-half
pounds. and has noiseless mechan-
ism.
NOrtheastern Savings Election.
of the Northeastern Savings Bank the
following directors were elected to
serve during the ensuing year: j.: H.
Brodnax. a. p. Cook. W. H. Earnest.
Han; D; W. Higgins, G; F. Hoover,
Lewis. I. Narcisenfeld, Hubert New
som. c. H. Potter. NJ. r. Ready. A.
W. SleVerl1ng, l.. +. Steuart, c. II. Tai
bert, J. H. Thomas and ]. T. Vivian.
The board organized Immediately
and elected these officers: L. P.
Steuart, president; Charles R. Tai
bert, first vice president; George F.
Hoover. second vice president; w.
Reginald Lewis. cashier. and J. B.
Flynn. general counsel.
George A. Harris. general manager
of the Cleveland Discount Company.
and seven statesmen of the company
from the District of Columbia and
Virginia. will leave tonight for Cleve-
land to attend the homecoming cele-
bration of the company, tomorrow,
Friday and Saturday
Tomorrow evening the new twenty
one-story Cleveland Discount build
ing. erected at a cost of six million
dollars, will be dedicated.