Evening star., 1922-09-10
LIBERTY BONDS AT A GLANCE

given an opportunity to subscribe for
the stock in proportion to the amount
or stock he holds. By reason of the
fact that the stockholders have the
right either to subscribe for their
proportion of the stock or to sell
their rights to others who wish to
subscribe. the full amount Of the
issue is in their control.
I'm case any of you wish advice
or assistance in making your sub
scriptions or in buying additional
rights or in selling rights you have.
we suggest that you consult your
banker or a responsible broker. who
will be glad to serve you. Or, if you
prefer, write directly to II. Blair
Smith, treasurer. 1875 Broadway. New
arrange, through the Bell Telephone
Securities Company. for the purchase
for you of additional rights or for
the sale of your rights The busi-
ness Office of the local Bell Telephone
Company will be glad to advise with
to purchase additional rights or to
dispose of those you hold.
Very truly yours.
ID. F. HOUSTON"
VIII Eliminate Patents, Etc.
Many of the leading corporations
and manufacturing companies Of the
country will wipe out to a greater
or less extent in their future corpo-
rate reports, the items good will.
patents, patterns, etc, and may also
reduce real estate and buildings
materially.
necessary as indicative of invested
capital, but as corporate income tax
Heretofore these items have been
alton is based on gross receipts with
out regard - invested capital it is
no longer necessary to swell invest
ments.
Still No Appointment.
Bankers and the country at large
are wondering why the presidential
delay in filing the vacancy in the
govenorship Of the Federal Reserve
are but two candidates for the posi-
ion, W. P. G. Harding, former able
and tried occupant of the position,
and D. r. Crissinger. controller of
the currency.
Both have their advocates at court,
both are capable officials. Central,
eastern and midwestern bankers are
staunch advocates of W. P. G. Hard
ing, while the action of the reserve
board in the deflation period has in
and agricultural countries to the
former governor. and have been ac-
tive in their efforts to prevent his
reappointment.
Everybody Admits 1t Now.
Practically everybody admits now
that there never was a syndicate
that desired to pay for 27,500 shares
Of stock, common stock. in the Wash
ington Railway and Electric Com
pany.
Those. who professed to believe it
at the time are big skeptics right
now.
II it was a conceived bull move
ment to help along the stock of the
Washington Railway Company in its
midsummer advance it was not en-
tirely devoid of cleverness.
The ownership of that 27,500 shares
carries with it control Of the prop
erty-there is no question as to that
with the following that would be at
tracted by any issue for the better
nlent Of the property merger, etc.
/, 1t is still just as powerful a factor
las 1t ever was. and mayhap some day
the late quests of the Shoreham"
may be seeking accommodations
again on inquiry bent. And it may
go through, for the bankers are in a
mood to accept a generous bid.
Merger Bill.
The Senate again reconsidered the
merger measure that 1t adopted last
week and passed it over again, but
this time with q tax proviso on oper-