The Washington herald., 1922-03-02
DENT NAMEDHEAD
OF new DISTRICT
FINANCE COMPANY.
New Corporations Capt.
tai of s1,OOO,eOO to Be
Used in D. c. Building.
OTHER LOCAL NOTES
News Bulletin Reflects Strong
Working Capital Of
Mergenthaler.
OTHER LOCAL NOTES


W. Gilbert Dent head Of Gardi-
ner and Dent. local realtors. was
yesterday elected to the head of
washington's newest financial in
stitutIon. the sReslty Finance and
Investment Company.
This corporation which was or
ganized under the laws of Della
ware. primarilx TO finance building
operations in the District and yicin-
ity and thus relieve the suffering
housing situation. has an authors
lied capitalization of $1,000. 600, dts
tributed by $4,000 shares Of per
cent cumulative preferred stock. Of
$40 par value. and like amount
Of common stock at no par value.
This stock win be offered to the
public in units OF 10 preferred
shares and of common for s25e
per unit, the remaining $4,000
shares of common to be put In the
corporation's treasury.
The Realty Finance and Invest
ment Company win engage in COM
mercial banking. Its principal OBJ
tects will be to finance building
operations by purchasing and SELL
ing first and second mortgages on
desirable real estate, not ouly on
buildings now built, but also on
buildings in course of construction.
IL may also purchase from reliable
manufacturers, wholesalers and job-
bers commercial accounts recefv-
able, trade acceptances. drafts,
notes receivable. certificates of de-
posit. warehouse receipts and other
commercial paper. 1t will further
act as agent for such Insurance and
bonding companies as its business
may require.
Dale s. wnables was elected vice
president of the new concern. while
Henry T. Boswell was made Sec
retary and treasurer. Robert r.
Wright and Company. with offices
in the Bond building. are fiscal
agents of the company.
Directors of the corporation, in
addition to the officers noted above
are Thomas r. Asquith. T. Howard
Duckett. L. Morgan Johnston. Philip
N. Julien, DR.. George A. Kingston,
George T, Parker. Winfield Pres
ton. Graeme T. Smallwood and
Henry H TallmadGe.
MergenthaIer Linotype Co.
In a recent Dow Jones and Com
pany news bulletin on the Mergen-
thaler Linotype company. attention
Is called to the fact that there Ss
been no change in prises ofe its
linotypes since 1919.
Mar-anfhn1n- aNg
business in spare parts and mat
rices. which accounts for about 25
per cent to 30 per cent of its vol
ume of sales. Prices on these have
been varied to meet conditions and
costs
Sales Of the company so far this
year are holding up fairly we'll to
the corresponding time last year
Total sales in 1921 were about
$500.
Orders have not yet materiaIized
. at a rate to engage capacity Of
the company. which was Increased
50 per cent by the erection of the
new s1.0OO.00O factory and office
building in Brooklyn. Company now
has facilities to mack about $500
or $500 machines a year.
Mergenthaler is employing about
2.10O men, compared with $500 last
October. Production per employe
has largely increased. In effect the
wage scale was decreased at that
time by change to a 4S-hour week.
compared with ~ hours previously.
equal to an actual decrease in
wages of per cent to IL per cent
for those who 'tere not on a piece
. work basis.
available since the. date of the last
annual report. company has reduced
bank loans to about S3,S00. 900, COM
pared with about s4.612.5O0 on Oc-
tober 1. last
Reduction in bank loans, lower
labor costs, and fair volume of bus
mess all forecast a satisfactory
balance sheet and income account
for the fiscal year ending October
1, 1922. Stock recently sold at
about f45, compared with a low
last year in the neighborhood of
11S. No financing is contemplated
About so per cent of the office
force own Mergenthaler stock. the
purchase having been assisted by
an official of the company, when
ii was selling at 120. The company
has also an employees representa-
tion plan. which has been In effect
for several years.
One OF the most interesting poll
cies of the company. reflecting also
its strong Working capital position.
Is that paper taken in connection
with financing the purchases of
machines by customers has never
been rediscounted. Phe company
boasts also that it has aever forced
n customer into bankruptcv Where