Evening star. [volume] (Washington, D.C.) 1854-1972, 1924-11-24
NORTH AMERICAN
ASSETS INCREASE
Years Statement Indicates
Enlargement in Every Line
Over Last Year.
BY CHAs. p. sCHAEFFER.

The consolidated balance sheet Of
the North American Co. land sub
salaries as of September 30, 1924.
maze public this morning, evidences
the continuance of the remarkable
growth which this company has en-
1oyeo for several years.
On September 80, property and pIant
account amounted to s274,333,512. an
increase of $32,312,s60 during the IL
months Current assets, which
amounted to $35,325,172, were 81 1903
'Si larger than the year before
Wnlle current and accrued liabilities
decreased $S,S19,6oo. resulting in an
increase of s1s.723.3s1 in net working
capital. Cash and United States Gov
ernInent securities, which last year
AGGREGATED s5.624, $50, increased to
S9'9oo.lo9 after reduction of loans
from S77S3.S74 to s194.s13 Invest
ments and cash on deposit with
trustees amounted to s21,647,407 or
Slo,O02.3S3 increase. The company is
sued $1o,002.S00 additional preferred
stock and s4.259.520 common stock,
ana It's subsidiary companies issued
s2S'346,26S bonds and s13,767,3o0 pre-
ferred stock
The company's stock featured the
public utilities division of the New
YORK Stock Exchange in this morn
ing trade, and was taken in large
Diocks at 40, new high record for
| the year.
Veteran Banker IS To-day.
Charles c. Glover, sr., chairman OF
| the board of the Riggs National
Bank, Is today celebrating in his US
ual active style, his seventy-eightf
birthday. Floral tributes adorned
ms desk and myriads Of Fluctuations
Moved in necessarily.
Mr.. Glover began his banking
| career 60 years ago with Riggs &
Co, the original name Of the present
| institution. From the obscurity of
the iowliest clerkship he has risen
10 the dictatorship of the mightiest
bank in Washington
| Trading ON Local Exchange.
Common stock of the WASHINGTON
| Railway and Electric Company to-
| day recovered a point and a half OF
| Saturdays decline from the new high
| inquire of the year when sales of Ia
shares were made at 851z. The is
sue was decidedly firm throughout
| the session. closing at S4h bid"
| with none offered.
! Washington Gas Light stock was
! slightly easier, ~ shares selling at
81 Is. Capital Traction remained firm
| at SO, as did Railway preferred at
: 7Sk. Riggs National Bank sold at
| 800. and Railway 4s. the only active
bond issue, brought ISL.
/ Would Issue New Stocks.
The Bangor and Aroostook Rail
! road today asked the Interstate Com
| merce Commission for permission to
| issue 1920 shares of stock of $50
par value.
The new shares will be exchanged
| In connection with rearrangement
Of the corporations financial struc-
ture for $500 shares of common
! stock of a 800 par value now out
standing, the applicat ton stated, and
| Will make no change in the present
par total of security issues.
Program at Institute.
The local chapter. American Inst
tute Of Banking, will suspend classes
on Thursday night of this week. Also
there will be no credit class on Fri
day night.
The educational program, modified,
is as follows:
Tonight. standard banking. Bank
Reserves" by F. J. Donohue: Tues
day accounting, "Ledger-Purchase
and Sales Journals" by Joseph n
Meyer; Wednesday, commercial law.
Carriers and Bills of Lading." by r.
B. Dickey, and Friday, standard eco
nomics, Sources of Working Capt.
tal," by F. J. Donohue.
Plans for Holiday.
! The financial markets of the coun-
try, the Washington Stock Exchange
and all local banking institutions will
ing day.