Evening star., 1928-05-20
BY 1. A. FLEMING.

washington securities have In recent
years attracted much attention from IN
vestors and capitalists in other centers'
The story of the entrance of the Nortn
American Co. into the utility field mere
Is now a matter of general knowledge.
The price at which they bought ther
first big block of Washington Railway
e. Electric common, was around SOL a
share. II is now quoted at 422 BID with
the North American Co. in complete
control
Moreover the company has absorbed
enough stock of the Capital Traction
Co to give it a strong position there.
Another very useful and promising
local utility is now said to have at
tracted the attention of foreign capital.
Indeed. the story is that accumulation
in interest of outsiders has been going
on for some time In Washington Gas
Light Co, low for the year UP to date
being "a, with 972. the high, after which
It again dropped back in the low gus
coming again now with closing on
Friday at 95.
Gas Distribution Success
The success that has attended the
local gas distributors during the past
few years has demonstrated the per-
manency of the use of gas as a cooking
fuel. While electricity has made some
inroads into the gas business this COM
petition has been of small Importance.
The rapid development of the Nortn-
west section of the city has resulted IN
greatly increased business Tor tne
GEORGETOWN Gas Co., a subsidiary OF tne
Washington company, SO that acquisi-
ton of stock control OF the washington
will IL q fNnnNn0IV
under the Public Utilities Commission.
The CAPITAL stock of the Washington
Gas Co. is just the same as 1t was
many wears ago, $2.600,000. Congress
having steadily refused to permit any
increase. The par value is $50.
Mergenthaler Strong Corporation.
Merpenthaler Linotype Corporation
suffered from too many used cars last
wear, If YOU will but substitute machines
for cars. The last few years have VIII
ness the consolidation OF many news
papers and the passing OF NUMBER Oh
important journals from the neIo OF
newspaperdom.
Each consolidation or elimination has
thrown many secondhand or after the
latter day name, used macnines on
the market and this has greatly inter-
1t is a great corporation, and has a
record of honorable effort and large
return back of it.
II must be remembered that 1t has
not dollar of debt. bonded or to
banks. that ii has 81 500. 900 cash on
hand, practically accepts the fact that
patents, good will. etc, etc." have no
value for presentation TO shareholders,
that it completed a fine new factory
building last year at cost of nearly
81, 500 900, and that the corporation
has the most advantageous foreign con-
nections in England and Germany and
elsewhere.
Philip T. Dodge, president for years.
stepped aside recently TO be succeeded
by his son Norman, as president. f.
II. Mckinney of this city was named
as his successor on the borad of direc-
tors. The retiring president remains
on the board OF directors and will give
much OF his time 10 matters connected
with the development of Mergenthaler
affairs.
The declaration OF the dividend of 6
per cent, the usual basis. has been made
for the next dividend date. nor is there
any likelihood Of any change in the near
future.
Full Of Meat.
The May number of the American
Bankers Association Journal for Nav
is full OF meat Articles that will be
OF interest TO every banker, containing
much useful information, judicial opin-
ions and findings and interesting cases
Tor adjudication are contained therein
The cover page, is. as usual, attrac-
tive. bright with color, illustrating a CO.
lonial apothecary making change, using
a cold chiSel 10 change a dollar, so as
TO give the customer 25 cents in change
SlipShod directors are thoroughly
roasted. interest and costs for service
freely discussed.
Not q Cent for BIackmaiI.
John Joy Edison. victim In recent
regrettable accident. was for many
years president of the Washington Loan
a. Trust Co. A few years ago. shortly
before resigning To accept the position
OF chairman Of the board of directors
OF the corporation, he was the subject
Of an attempted blackmaii plot
Ten thousand dollers was demanded
via the post ONCE, general delivery, on
threat of determination. Mr. Edson's
Office was at that time In the northeast
corner Of the bank, readily accessible te
any and all OF the hundreds OF business
men and women who entered every das
and in plain sight OF the muititudet
passing on and Ninth streets.
Mr. Edison at once communicated with
the police authorities. IL was before the
present administration, and was advised