Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-13
GAS CO. MAY BUY
PLANT IN VIRGINIA
OFFER for Fredericksburg Mu-
nicipaI Works Is Before
Iii City Council.
By EDWARD C. STONE.

Il
"a dispatch to The Star from Fred
eucksburg, Va, received this noon, says
e'An offer for the purchase of the
municipality owned gas works has been
placed before the Fredericksburg Com
mon Council by representatives of the
Washington Gas Co. Of Washington,
D. O.. and although the negotiatie-~.
have failed to result in a definite de-
cieion from the making body, it
issbelieved that an eventual sale will be
made.
1.-THE acquisition of the local gas
works by the Washington Gas Co. would
be marked by considerable reduction
in the present rates, the representa-
tives stated, and better service to con-
silmers.
1.-The offer Of the washington con-
Germ has been referred to the Commit
tee on Light and Finance, the city
manager and city attorney for further
consideration"
The above dispatch is of special in
terest in view of the recent acquisition
by the Washington Gas Light Co. Of
the municipal utility plant at Alex
andria, Va. The company in many other
ways is also expanding its business
steadily.
Finance Convention Arranged.
Business in 1881 in the light Of pres
emit credit and irlstallment selling con-
ditions viii receive the attention OF 400
specialized commercial bankers, meet
ing Chicago November Is and 10, at
the seventh annual convention OF the
National Association of Finance Com
panieS.
Operating figures of the finance COM
panies show that installment selling
has weathered the business storm and
has had no part in limiting the pur-
chasing power of the public this year, "
said C. G. Hanch, general manager OF
the association. THE problems OF
these companies involve manufacturers
merchants, bankers and the public. The
consistent demonstration during the
past year of the soundness OF INSTALL
ment selling on standard terms Is OF
interest to the whole business world. ="
Rome c. Stephenson, president OF the
American Bankers Association, will
address the meeting on Credit and
Progress" Selling Motor Cars in 1881"
will be discussed by Paul @. Hoffman,
vice president of the Studebaker Cor
poratior. of America. The official
Spokesman of the association viii be
Its president, Victor L. Brown OF MIL
waukee.
Nathan B. williams, Washington law
yer, will take up the problems Of auto
mobile seizures for violations of the
prohibition laws. Open discussions will
take up several hours of the convention
with such topics as the bank attitude
toward automobile paper, used car
problems, collections credits. financing
of commodities other than automobiles
and the problems Of the dealers.
Auditors Meet This Evening.
Ralph Endicott, chairman of the
auditors section Of the District of Co
lurnbia Bankers Association, has called
q dinner meeting of the section at the
National Press Club for 6 o'clock this
evening. The special committee APP
pointed at the last meeting viii render
its report upon system to prevent
fraudulent use Of bank drafts, cashiers
checks and certificates of deposit.
r. G. Marx, auditor, Riggs National
Bank, and Robert A. Sisson of the
washington Savings Bank will read
papers on Duties of bank auditor in
connection with examination by direc-
tors"
Credit Situation Is Improving.
The National Association of Credit
Men, with which the local organization
Is affillated, reports further improve
ment in the collection situation, de-
claring an advance Of at least s per
cent over a month ago. The announce
ment states that part Of the improve
ment is due to a more conservative
credit policy and to the use Of more
vigorous collection methods. OF the
total of 103 local associations report
ing for October, four rated collections
as good" IS fair" and 81 slow.
This compares with one good" 81
flair" and 43 SLOW" in September.
Today's Trading on Exchange.
Capital Traction opened at 81 on
the Washington Stock Exchange today,
but closed with three 1o-share sales at
so. Potomac Electric Power So per
cent preferred came out at 1881 and
closed at 108. while the per cent pre-
ferred closed at Ill. Mergenthaler
registered SO and Washington Railway
share turnover at 80. L.anStOn sold at
103. UP u from yesterdays close.
Moderate trading was recorded in the
bond division with Potomac Electric
Power and washington Gas issues SELL
ing around recent levels.
Financial District Notes.
The present business depression and
its causes, together with summaries and
comment upon the worldwide aspects,
with mention of the geld and repara-
tons influences and comment from ex-
pert foreign sources comprises the cur
rent issues Of the. Washington Loan g.
Trust Co. financial bulletin edited by
Norman K. Towson.
Directors of the G.. c. Murphy Co.
have declared the regular quarterly div
idend Of 40 cents per share on the COM
mon stock, payable December /, to
stock Of record November 90
Local banks are completing their
plans for the opening Of another CO.
operative Christmas Savings Club cam
paign. The new clubs will be opened in
Just q little over two weeks, as they
start on Saturday, November 90. The
number of members and the amounts
subscribed have increased every year
since 1925, and ar effort will be made
to reach another new peak again this
year.
The weekly luncheon attended by
leading local bankers at the Willard
yesterday drew the largest representa-
ton Of the season. Bankers have plenty
of live subjects to talk about in these
strenuous financial days and yesterdays
discussions proved particularly interest
ing.