Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-02-16
FINANCE AGENCY ;
REPORTS INCREASE
International Corporation
Adds $4,000 to Surplus.
Other Notes.
BY CHAs. p. SHAEFFER.

BY CHAs. p. SHAEFFER.
An increase of $4,000 to approx
mately s1.130.000 in the total capital,
surplus and undivided profits after pay
ment of a dividend of $4,000, was re-
ported by the International Finance Cor
poration today for the year ended De-
cenfber 81 last. as compared with the
previous 12-month period.
Capital stock outstanding approx
mates $939,300. mainly in preferred "a
cumulative 8 per cent, with surplus
created through the sale of common
stock OF $137.52S. and undivided profits
or $4S,516. The common stock has no
par value. The dividend disbursed sew
erai months ago marked the first pay
ment in the last two years and was
made at the rate of 8 per cent on the
cumulative preferred stock issued for
the months of April, May and June Of
1922
1t has been the policy Of the company
curing the last two years, or since
ernest f. Herrell became its president,
10 ABSORB losses and liqutdate bad &C
counts out OF the earnings of the com
pary. which has left its capital and sur
plus unlmpaired. In the opinion of Of
iicers the company is in better shape to-
oay ulan 1t has been since its forma-
.ion. All pad accounts OF major proper
unsavory items still appear on the books
the way Is clear to a complete bill OF
health through the medium OF gradual
aosorptons in the ordinary course OF
business
Following the presidents statement.
directors unanimously reelected the
Following officers for the ensuing
year: president, Ernest z. Herrell;
vice president and secretary, Arthur
lNanDa. "a
Boesch, and assistant treasurer, Henry
w. Forster.
New Haven Loan Far Reaching.
Announcement that subsorfutiors
received to the refinancing loan Of
the New Haven Railroad are sufficient
70 pay In cash and in full the holders
or the bonds Of the s23,o0O0O0 issue
maturing April next and apprecia-
ton of the part played by New Eng
iand industries in helping to float the
ne" ponds are contained in letter
rom PRESIDENT Pearson Of the carrier
10 the head of the Manufacturer As
ISOLATION of Connecticut.
Mr. Pearson states that. In rernonss
10 requests from many holders Of the
oonos. IL has also been arranged m
give them the option of exchansinx
All or part Of their holdings for
ike amount of the new bonds on the
Va Par LOT par. Bonds for ex-
cnanse must be placed with the com
p ts aenositories by March IA, while
the subscription lists for the ney.
| issue Will be closed on March T :
IN expressing his spprecfa tio, re
ene cooperation OF the industries To-
GATED along the lines of the Ne,v
maven which have subscribed to sew
erai million dollars worth of The re-
| financing bonds, Mr.. Pearson declares
ehat this cooperation has already
produced results of great present sn5
future value, both to the ROAD ana -
New England interests as q whole
ne states however, that further sub-
| scorpions are still desired in orde-
mat substantial degree of over
SUBSCRIPTION may impressiyeIy dem
! onstrate the unity of TRANSPORTATION
ana industrial interest for the com
| mn eooo OF New England, and also
80 mn the proportionate scaling
u all subscriptions above $1,000,
Breezy Personal Notes.
George O. Watson. president of the
aioerty National Bank, with Mrs
maison, returned to Washington this
chimes. III SoolneI II
| me remainder of the list was quiet
| and unchanged
Mr. Watson spent the last two
weeks OF his stay with I. A fPoD4
fieming, dean of local fnsncj.I
writer's who is Wintering In Mel
bourne and brings back the pleasing
information that Mr.. Fleming is hale
ana nearly, and gaining considera BILE
proWess as hiker
| Washington was we'll renrese,+aa
the annual banquet of the New VOL
Chapter, American Institute of Bank
ing IN New York last Saturday night
Inc local attendance included w. w
Spaid. w. j. Waller. Robert V. FIsm.
ing victor B. Deyber, Harry V. Hav-
mes {. f. Jacobsen and H. W. Burn
! side.
John Poole. president of the Fed
G Iai-Amerlcan National Bank is ir
New York City attending the board
meeting of the Chesapeake and Pc.
tomac Telephone Company.
! ROBERT V. Fleming is spending ths
nrst part Of the week at Atlantic
City.
| Riggs Reaches New Peak.
J Riggs National Bank and CONNER
| cial National both recorded new highs
| on the Washington Stock Exchange
this morning, the former selling IN
ward to S51 and exceeding its bes,
previous mark by one point, while
the latter at $50 established a modern
peak by several points.
Program Mt Institute.
The local chapter, American Instf-
tute of Banking, announced the fol-
| lowing schedule for the week:
Tonight, standard banking class
lecture. Live Stock Loans" by r. J.
Donohue: Tuesday, accounting class
controlling Accounts and the Cor
poration," by JOS. X. Meyer; Wednes-
day, negotiable instruments, Form
and Interpretation" by r. B. Dickey;
Thursday, elementary banking class
lecture, Bank Statements" by Elio;
H. Thomson and public speaking and
debate class, conducted by Rufus
Lusk, in Washington Stock Exchange
rooms; Friday, standard economics
Income Tax" lecture by F. ]. Dono-
hue and credits. class lecture, by +
Gordon Finney, Real Estate Loans"