Evening star., 1925-01-19
DIRECTORS SILENT
OND|V|DEND ACTION
Deferred Disbursement on
Railway Common Held Un-
likely in Near Future.
BY CHAs. r. sHAEFFER.

BY CHAs. r. sHAEFFER.
4 back dividend on common stocl.
or the Washington Railway and Eiec-
for the lean years from 1919 to 1922.
when no disbursements were made.
appears remote as far as the imme
date future is concerned
This became known this mornins
when ii was authortatively learned
the question was not even casually
discussed at either the annual meet
ing of stockholders or the subse-
duent meeting of directors on Satur-
day.
The attitude of directors on this
question, which affects $1,000 shares
of stock, is that some return should
be made to owners of the company
for the barren period stated above.
As far as is known. this attitude Is
unanimous, at least in so far as prin-
ciple is concerned. What reimburse
ment is meted out is another matter.
A number OF the board have voiced
the thought that the full amount in
arrears, 26A per cent, should be dis
bursed.
Officials Of the carrier ere now
giving almost their cole attention 20
repayment OF half the impoundef
fund to light consumers. as set forth
by the compromise some weeks ago
This disbursement will be made about
! the middle of the year IL presenf
plans eyentuate. To meet the eS-
penditure the company plans TO dis
| pose Of its Liberty bond holding
these representing the most liquid G.
| the i1upoundage.
suburban Sanitary Bonds offered.
". \. Hartman & Co, Inc, are o.
| ferins today a new issue Of s250.0po
| Of Washington Suburban SsnitaT.
| District 1 L per cent bonds. dated
| January /, 1925, and due JanUaTg !.
| 1875. optional January !, 1855. at
| price TO yield 4.3o per cent TO op
tional date and 40 per cent there
after.
This district. which includes por-
| tions of MONTGOMERY and Prince
| Georges Counties. Md, was created -
| supply water and sewer facilities 80 q
| number of substantial suburbs o.
| Washington. The bonds are payahle
| from direct taxes upon all of the as
| sessable property in the district as
| we'll as from the proceeds of water
! rates They are. Furthermore, unCou-
| ditionally guaranteed by indorsemert
/ by Montgomery and Prince George
! Counties, Md.
Trading on Local Board.
! >
| lished new high level on the Wa-h
Ington Stock Exchange this mornins.
i when 0 shares changed hands at o..
/ There was a paucity of shares avail
able. 55t4 being offered for the Issue
as the session closed. with 65St asked.
| The general tenor of the msrhe'
was strong. a hundred shares o.
! Railway common sold at 100, and 10
I shares of Continental Trust GO.
sold at s6. Union Trust Co. brough'
I17S. but Railway preferred eased OF
/ 10 Sis after selling an eighth high
er National Mortgage and Invest
ment preferred brought sss.
/ on the unlisted department 10"
shares OF Citizens Savings Bsnk
changed hands at Is, and IL shares
I of Munsey Trust Co. sold for 121.
! The bond list was neglected.
! 81, 900 Potomac Electric first So, Al
] par and par and a quarter, and $1,000
! Potomac consolidated 5s at 90 being
the only transactions.
New Financing Unnecessary.
Flotation of a 2125, 100000 bond is
sue by the American Telephone and
Telegrap PHI Company recently Will
| make it unnecessary for affiliated
members of the Bell system to do
! new financing at this time Part Of
the proceeds derived from the sale
IL Is unQSTSlOO0s VIII De used TO &C
quire a block of Northwestern Bell
Telephone stock and so enable this
company to retire a $50 100000 bond
issue. Other subsidiaries also will be
financed through loans or similsJ
| stock purchases.
! The course in negotiable instru-
| ments of the local chapter. American
Institution of Banking, will be opened
Wednesday night, with r. 3. Dickey in
charge. On the following night al
oper meeting and informal dance by
the chapter and friends viii be held
| al the headquarters. These viii con
| stitute the only breaks in the regular
schedule.
Tonight +. !. Donohue Will Lecture
! before the STANDARD banking class on
collection. and tomorrow night
Joseph X. Meyer viii address the II
counting class, on Cash and Dis
| counts on Friday night the stand
ard economics students will hear +. i.
Donohue. on Public Regulation" ana
r. Gordon Finney will conduct the
credits class on Buying Commercial
Paper"