Evening star., 1926-05-20
PLAN BOND ISSUE
FOR AUDITORIUM
$3.50, 900 to Cover Expenses
Incurred Since Building.
improvements Needed.
BY EDWARD G. STONE.

II Is announced DE the W dSHlHStVl
Auditorium corporation that new
$3.50 900 bond issue is now being con
sidered to meet additional expense
which have come up since the audi
tOrium was constructed. meeting
OF the stockholders has been called
for June 2. at the company Once,
119 South Fairfax street, Alexandra.
to act upon the recommendation Of
the directors. Notices OF the meeting.
signed by Robert y. Harper. presi
dent, and T.. j. Murphy, secretary
have just been forwarded To all
stockholders.
The letter states that when the
Washington Auditorium proposition
was started, it was believed that $500
900 would be sufficient for the pun
chase of the ground and the cost of
the building. The directors later
found that it would he desirable l"
install q pipe organ and make other
additions and these enlarged plan@
brought the actual cost of the audi
torium up to approximately 81 ,0o0.ooo.
The stockholders are informed that
there now remains due and unpaid.
including the balance due on the or
gan, sums aggregating about S2O9o
and the communication further states
that the property has been appraised
by the Washington Real Estate Board
at S1,250,000, exclusive of the furni-
ture and organ. The notice adds.
The capital stock of the corpora
ton is S400 600, and there is an out.
standing bond issue of 100000
secured by a first mortgage on tho
real estate payable in 1910. This en-
tire issue Of stocks and bonds was
sold by officers. directors and friends
without any charge whatsoever 10
the corporation. Ordinarily the cN-
pense of financing would have run
into thousands of dollars.
additional money also is required
for improvements, including suitable
and necessary decorations and TO pay
ing of outstanding bills. This IS WHY
the directors deem the new bond issue
necessary. The success of the cor
poration for the first year has been
most gratifying. although many diff
ficultieS had to be overcome.
New Issue Listed on Exchange.
Prices of stocks and bonds on the
Washington stock exchange were
little changed today from recently
prevailing quotations. Washington
Gas Light was the most active stock
on the board. 90 shares changing
hands at 6S1a. Two bank stocks
were out, one share of Riggs National
bringing ass and 10 shares OF Union
Trust going at 224. Ten shares of
Columbia Title Insurance co. stock
sold AT ga. One sale of Mergenthalef
Linotype was recorded at 1O6lt ana
one transfer in Lanston MonotEpT
took place at S4ts. Washington Rail
way and Electric stood AT S93.. Cap
ital Traction sold stock at 1"3l2.
GEORGETOWN Gas 5s opened trading
in the bond division. selling at S1l4
Washington Gas 6s recorded al
$1,000 turnover at 103l2 and the seN
sion closed with a $1,000 transaction
in Capital Traction IS at 100i,.
Lanston Monotype was down on the
| stock list today as eX-dlVldend. II
was announced by the board OF gov
! ernors that American Telephone
! TELEGRAPH interim certificates had
/ been listed for trading on the local
! hoard on when issued basis.
! The certificates We're quoted today as
| az, bid and 6i4 asked.
! Palmer Interested in Land.
| Eormer Attorney General y. Mitch
! ell Palmer, now a Washington lawyer.
| has become interested in Florida land.
/ having just been made chairman OF
| the board of directors of the Boca
| Ration Bond & Mortgage Co. organ
/ lied TO finance the building of homes.
/ business buildings and apartment
| houses in that section. Mr.. Palmer
| first went to Florida for the beneht
| of his; health and soon developed
| much interest in real estate.
| Mr.. Palmer seems fairly enthusi-
astic over Florida. In commentlnG on
his action. he said. Il am convinced
that Florida and the southeastern dis
! trict are sound to the core. l am 80
thoroughly sold on Florida that eN'
meet 10 spend six months year
there" Itch.
the new corporation and Will act as
Joint counsel with Miami law hrm
which is looking after the legal mat
tors in getting the new business estab-
lished.
John Joy Edison Felicitated.
Iohn Jov Edison is still receiving
MANY felicitations over the celebration
of his eightieth birthday, the obServ-
ance of which was noted at length in
MONDAYS Star. June II being the big
rest date in Mr.. Edson's career. Mr.. Ed
son. who is chairman of the board of
directors of the Washington Loan and
Trust Co. and a former president, has
a desk at the bank and still takes Il
yery active interest in all hnancldl
matters. He is one of the charter
veteran banker and philanthropist has
always taken an intense interest In
charitable and civic organizations of
all kinds. he has recently been eSpe-
cially concerned in planning for the
financing and erection of the new Ma
tional Press Club Building, slowly GO
ing sl<yWard at + and Fourteenth
streets.
Various Financial Notes.
Spring cleaning" at the District
National Bank has made the exterior
of the building look like new. The
heavy brass doors at the entrance
to the Riggs Bank also have been
brought out to public view by some
fine polishing. Removal of the desk
reveals the fact that they are really
very handsome doors.
Great interest is being shown by
the members of the local chapter.
American institute of Banking. over
the tie vote for membership on the
governing board between j. T. Fletch-
all of the Potomac Savings Bank and
James c. Dulin, jr., of the American
Security and Trust Co. The voting
to settle the contest is sure to he
lively.
The next big game in the Bankers
Base Ball League takes place between
the HibbS and Riggs teams next Sat
urday afternoon at diamond No. !.
Seventeenth and b streets. 1t is eX'
pected this will be the deciding game
of the first series. Both teams are
said to be playing good ball.
The Electrical World reports that
industrial activity in the South reach
ed the highest mark in April that has
been reported in the last three years.
The industrial situation is based on
electrical consumption.
Bids for Equipment Trusts.
A new department will be made by
.ho NNnStarn MARYLAND Railway in the