Evening star., 1925-08-04
BANK AND TRUST CO.
.D|SPOSESOF RUMOR
~
Merchants Denies Consider
ing Lease in Proposed New
10-Story Building. 80
BY CHAS. p. SHAEFFER.

Emphatic denial that the Merchants'
Bank and Trust Co. was considering
the leasing and occupancy of the sec
ond floor of the Washington Building,
the 1o-story edifice to be erected on
Fifteenth street between New YorL,
avenue and G street. was made TODAY
oy Peter A. Drury, president of the
trust COMPANY f.''
original building plans of the struc-
tufe provide for bank quarters on the
mezzanine. These quarters were Of
Tered to the Merchants Bank and
trust Co. about a year ago, when the
idea for the building was first born
Failure to agree on the asked rental
Tor the space abruptly concluded neRo-
tlatlons at that time, and the subject
mas never been reopened, according
to Mr.. Drury. .
The Merchants Bank and Trust Co,
upon taking over its present quarters
at Fifteenth and H streets, signed A
2o-year lease. This lease. which stiH
lacKs anout ~ years of maturity.
would have been assumed by tbs
builders of the new structure at a.
talr cash consideration. If negotiations
could have been effected o..
Ihe denial was prompted by insist
ent queries on the part of prospective
lenders, who will aid in the financing
of the structure.
Loans on Housing Property.
Loans totaling S1I9.4oo. sufficient
70 provide housing accommodations
Tor "a families in Washington nd
suburbs, were authorized at the last.
meeting of the Metropolitan Life In.
surance Co real estate committee
Ihe loans were splaced through n
large local savings bank
Since the first of the year this in
M ~
loans totaling well over half a mil
non dollars on housing property IN
this city and hereabouts. The com.
pdnys housing loans for July. GOV
ering all sections of the country, 10
tailed $12 ,330.342, sufficient TO provide
housing accommodations for 3951
families.
Gross L. S. Public Debt.
The gross public debt of the United
States on July 81 amounted TO 500.
81,237. 1874, compared with s20.51s
l95,ssf on June so. according to a
statement by the Treasury Depart
ment. The figure shows a sizable re.
auction from the same date a wear
ago, when the gross indebtedness wa =
81 l,Zo4 .492,167. and huge decrease
from the wartime peak, which was
$26 ,596. .701 648 on August 81. 1919
Bond issues maturing this month
Will aggregate 500. 900 900. compared
with only S56, 6,375.700 in July and with
S45, ,4l4,900 in August of last year.
Total maturities for the first eight
months of this year. amounting l.,
about S577 .o51 $50. exceeds the high
figures for 1923, when $3.50 .455.65O was
shown for the same period For the
first eight months of last year the
total was only s206.159. .720.
Largest p1af1trifiac ,,,an@L
represented by S15.756, 700 Dunlop Tire
Water OIL Gas.
New Offering on Market.
Public offering is being made today
by Bonbright Co, Inc, of a nsw
issue of $4,000 shares Of Electric In
vestors. Inc. preferred stock of no
par value. which pays cumulative
dividends of S6 per share per annun
The shares are priced at 95 to yield
$50 per cent. and are redeemable at
ITO in whole or part.
The borrowing company, which was
organized in September. 1924. was
consolidated in December of the same
year with the Electrical Utilities Cor
poration as an investment company
TO acquire and hold securities OF pub
lie utility companies.
Personal Mention.
Clyde B. Asher director of the Lib
erty National Bank. returned 10
Washington today after a weeks gclt
at New Canaan. Conn.
Wade H. Cooper. president Of the
United States Savings Bank and the
Continental Trust Co, will embark
for Europe tomorrow for two-nonth
tour of principal cities.