Evening star., 1924-01-04
W. R. &E. EMPLOy
MAY BUY STOCK F..
New PartiaI-Payment Plan
Goes Into Effect With
Men Tomorrow.
DETAILS OF LATEST MOVE
Trading on Local Exchange-Gross
Government-0ther Finan.
ciaI Notes.

A plan whereby employees of the
Washington Railway and Electric
, Company may share in the profits of
the company through the purchase OF
It's cumulative 5 per cent preferred
STOCK on partial-payment plan will
be declared operative tomorrow. ac-
cording TO circular letter received
by employees today from William F.
| liam, president of the carrier. III
! furtherance of this plan the COMPANY
| mas already purchased in the open
market, there being no unissued stock,
| several hundred shares of the issue
| "hlcn explains the rise OF several
points in the security in the last week.
| onder the plan employees in service
one year and over may purchase not
exceeding ten shares of stock on tho
| OASIS OF one share for each $500 OF
annual wage or salary for the pay
| nient or 50 per share cash and S. per
| snare per month until the stock is
| iuliy paid for, the final payment 10
| incLuue interest at per cent on the
ueterred payments. Dividends will be
| pap TO subscribers as declared and
| paid by the company. Present nrice
or the stock is about $74 per share
par value 800. but the stock hereto
fore purchased by the company in the
open market averaged about S125o
aio wnien price 1t Will be sold to en-.
proves as long as it lasts; thereafter
Iurtner orders will be entered at the
current market price on the Wash
| ington Stock Exchange.
ne COMPANY will hold the stock
as security until subscriptions are
ifluny paid. and no stock will be de
ilVered until fully paid for, but nav
inents may be anticipated
me preferred stock is generally
fconsidered sea soned investment Sc
lcurlty, having paid dividends of s.
per share each year for almost TWEEN
ty years. and yielding about a I PEI
cent return upon the actual cost 3;
the present time.
Danzis's New Currency Plan.
The senate of the free state of Danzig
| rency, the Danzig gulden," for present
needs, which has been supplemented
! by final currency. according to
"ord received in Washington by letter.
The new currency is issued by the
Danzlger Centralkasse. 4. e.. founded
| for this purpose. The final issue will
be made later on by the Bank OF
I Danzig, which will be founded Tor
| ehat purpose. The Danzig gulden is
! hased on the pound sterling, twenty
| hve Danzig gulden being equal to
/ one pound sterling.
! Under the act of the senace, the
panz1ger Centra1kasse, A. d, is bound
to issue gulden notes for circulation
only against bank cheques on London.
telegraphic transfer London, or pay
. ment in notes of English currency.
on the other hand, the Centralkasse
is bound to exchange, on demand, the
| gulden notes for cheques on London.
The Danzig gulden was brought
into circulation on November 20, and
although the German mark con-
| tinued to remain legal tender up to
the end of the year, it disappeared
almost Immediately on the intro
duction of the new currency as
| everything. including rates and taxes,
post fees and railway fares. has been
based as from November l on the new
gulden.
The board of the Danzig Stock Ex-
change has decided to make all quo
tations for foreign bills as well as
for stocks in Danzig gulden. The
only exception is the English pound
note, which Is quoted in Rm. Ger
man currency In order to get
standard for the valuation Of the
reichmark and to bring the DanziG
guldenin relation to same.
Gross Government Debt.
The gross government debt, less net
balance in the general fund. totaled
S21,5s9,l60,346 on December 81 last,
decrease of almost one billion dollars
from the s22,44S,456,s96 reported Oh
December 81, 1922. The peak of the
war debt. August 81, 1919, was, less
met balance in the general fund, s25.-
i41S,592.113.
Ranking Course Resumed.
The credits course of the local Chap
ter American Institute of Banking, VII
be. resumed tonight under the leadership
Of Carl V. Starllloff who will lecture
on Financial Statements.
Trading ON Local Exchange.
Washington Railway and Electric
common today held the limelight on
| the local board, a total of 100 shares
| selling at 70A, the recent prevailing
/ level Capital Traction was unchang-
ed at s5, but Washington Gas was
firmer at 50 Merchants Bank and
| Trust company sold at 129. and Amer
| lean Security and Trust Company at
302
Gas 6s of 1888 at par and a hair
! were the only bond sales.