Evening star., 1925-05-08
S9()O,OlD IS ADDED :
TO OPERATING FUND
Potomac Insurance In
creaseS Capital and Sur
plus Accounts.
BY CHAS. r. SHAEFFER.


ital stock account and the addition
of 100000 10 surplus was announced
this morning by the Potomac Insul
ance Co. of the District of Columbia
This net increase of $500 900 in the
firms working capital has been ef
fected through the sale of 10000 nov.
shares at S15 each to present stock
holders at the ratio of three for ever.
old one held. Par is S2j.
This action gives 10 the company
total assets of S2,I49.S67. The CAPT
tai stock account now totals $500 00u
with a net surplus OF Sl,OO7.763 The
stock is very closely held and is MOI
listed, having been withdrawn from
the local stock exchange several
years ago.
The Potomac Insurance co. is i
landmark of the District. It was
chartered by act Of Congress in 1881
Charter subscribers included Franci-
Dodge, Raphael Semnes, Waite
Smith, John Kurtz, William
Nichols, l.. G. Davidson. John Mar
bury, Joel Crittenden, O. NJ. Limits
! cum. James Dunlop. William q
Ridgeley, Samuel Humphreys ana
William Hayman
Present officers Of the company arc
! George We White president. Thomas
I
ager; Edmund d. Rheem. second vice
| president; Alexander X Phillips
| secretary, and II. T, Howard. assis-
| ant secretary.
North American Sales
| Record gross and net earnings fol.
the year ended March 81 are reportel
by the North American Company. Ths
gross was $81 $50 900, an increase Of
] ~ -
OoS,927, gain of $3.9944S7 The ba
ance after depreciation, all othe-
tcharSes and preferred dividend-
amounted to S9,2S6.437. a gain I'd
S1,10l ,941. equivalent to 81 per cent OF
the common stock outstanding
In a circular to stockholders the
company makes first official mention
OF its extensive interest in transpcE
tation systems here. II states the slr-
vey of the traffic transportation here.
now being conducted, lis 10 be . COM
prehensive dia gnosis of the conple..
problems, forming a basis for various
traffic experts recommendations as 10
permanent remedies, TO the end thai
Washington may have cheap. safe and
expeditions transportation. Because
the District commission has iurisdic-
ton over all public utilities : we'll IS
over the city government, il is eE-
pected that d particularly well co-oraI-
mated transportation plan NAV be
worked out after the facts have been
assembled; plan that may serve aS
a model for other metropolitan cities ~
The circular reiterates the North
American Company is neither for mon
against merger at this time TIE
company, II says, is frankly interested
and desires to have the facts impair
italy determined. 50 that it can La-e
its future actions thereon.
Bank to Open on May Is.
The Central Savings Bank viii Of
ficially open next Friday, May Is.
Charter has been obtained and 81
per cent of the apitaI stock has
: been paid in.
The first deposit in tho new jn-ri-
ton was made this morning and the
banks initial loan also was nceo-
tiated today.
Local Stocks Strong
Stock of the Capital Traction co.
and of Lanston Monotype Machine
Co. featured the Washington stool
Exchange today.
The former was particularly strong
advancing to 50 p. new years high
on sales of so shares. while the latter
netted an advance of full point OF
y -
ment, a total of $40 shares selling
upward to S4l2, or half a point under
the years best price.
Another stock in good demand was
Washington Gas. which sold 10 tho
extent Of 165 shares, netting a frar-
: tional gain to 56is. Riggs eased off
to 3S5i2 on % share sales and IA
!, tional Bank OF Washington was quiel
at 225.
} Bonds were firm but unchanged
No Dividend Advance
| No consideration to an increase 5h
the common stock dividend Of the
Southern Railway will be given until
the suit of the preferred stockholders
is out of the way, Fairfax Harrison
president of the carrier. said today il
! a fiat declaration. There has been
no discussion Of an increase to date.
he added, and l don't know when
there Will be
4 Rumors that the annual dividend
would be increased from s. to s. re.
Gently resulted in a brisk advance in
the stock to a record high price or
96Ss a share.