Evening star., 1924-07-24
WHITE MADE NEW
LANSTON DIRECTOR
Putting Bank Head on Board
PIeaSes Stockholders.
Phone Report Out.
BY CHAS. p. SHAEPFER.

manifestations oe hearty concur
renee over the result OF yesterdays
election of Lanston Monotype Ma
cnlne Company officials, the full re-
port or which was received this morn
ing from Philadelphia, were heard on
every side in Washincton's financial
district today.
In this election j. Thilman Hem
drick. local director, was elevated
TO the Craftsmanship OF the executive
committee, and subsequently, on Au-
gust 6, will be named chairman of
the board of directors, which office
will be created in the interim. Mr..
Hendrick has arranged so that lie
Will be able to give considerab BILE OF
his time to the affairs of the COM
pany in the future.
Election of George W. White presi-
dent of the National Metropolitan
Bank, to the directorate to fill the va
cancy caused by the death of J,
Maury Dove, was made at the insist
ence of Mr.. Hendrick and one other
local stockholder in the belief local
shareholders interests could best be
protected with larger representa-
ton. HIS election was somewhat OF
surprise in local circles.
The election concluded with the
naming of Harvey d. Best, for some
years second vice president of the
company. to succeed the late Mr.. Dove
while William Usher Parsons of New
York, was named a vice president to
fill the place left vacant a short time
ago by the death of First Vice Presi-
dent Camp.
Directors will also take dividend ac-
ton on August 6.
Bell Phone Report Out.
The statement of The American
Telephone and Telegraph Company
as of March 81, 1924, shows total as
sets of s1,324,5e9,321, with a cash to-
tai of s23,1S4,399 and surplus fund
of s134,1e5,2s7.
The balance sheet as of the above
date shows the following: Assets
Stocks of associated companies, s759,-
524,244; bonds, notes and advances
to associated companies. s1S9,340, SOS;
stocks, notes, etc, of other companies,
sl16,262.453; plant a.sd equipment.
s12%3S5.401; telephones, s34,492,567:
real estate, sl2,101,702; furniture and
fixtures. s976,94S; accounts receivable,
s10,725,077; temporary investmentD,
s4S,605.T22: cash, s23,1S4.399.
Liabilities-Ca pital stock. s76o,5s6.-
9S1: funded debt. s277,591.300: ac-
counts payable. s43,996,554; dividends
and taxes. sS.965.151; employees bene-
fit reserve fund, s593s.5S0: reserve
for deprecia ation and contingencies,
s76,5i0.S30 surplus, s134,165.2S7.
Banker on Vacation.
Lanier =. McLachlen. president of
the McLachlen Banking Corporation.
is touring Canada, accompanied by
Mrs. McLachlen.
Bond Issue Approved.
The Chicago Rock Island and Pa
cific Railway Company today received
authority from the Interstate Com
merce Commission to pledge and re-
pledge from time TO time. TO December
81. 1926. all or any part of sI.9S4, 600
of first and refunding mortgage Pc
cent bonds aS collateral security for any
notes the company may issue.
Trading on Local Board.
Railway common. to all appear
anceS. today started another upward
movement. with 10 shares selling a
~, or about . points upward from
the previous close. Traders We're
wide apart IN their views, a S-poinr
difference separating them at the
close. when 40 was offered. with -
asked Preferred was off slightly to
75.
Capital Traction continued to dis
play strength. selling S5 and fraC-
tinnaliy higher, with MergenthaleT
also UP to 15S. National Mortgage
and Investment preferred brought
SIS and SH.
Bonds were inactive