Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-25
UTILITIES CONCERN
EXPANDING IN D. c.
North American Co. Reports
Construction Here Will
Cost $4,000, 900.

The consolidated balance sheet as o
June 80 of the North American Co. ant
subsidiaries, including the Washington
Railway g. Electric Co., Potomac Elec
trio Power Co. and the Braddock Ligh
6; Power Co., shows total assets o
S807 ,49s,339 compared with total as
sets of 1868, 67l ,243 on the same date o
last year. Current assets were $50, AIS,
Current liabilities were $10,083,l 1876
compared with $11, 627 SAG at the end o.
June of 1929. Surplus amounted Il
Sl37,4S5,552, against $l09 273,10
In June of this year the North
American Co. sold its interests in it:
California subsidiaries to the Pacific
Gas & Electric Co. in consideration Of
common stock of that company The
assets and liabilities of the Californis
subsidiaries, including their preferred
stock and funded debt obligations, &C.
cordingly were eliminated from the
consolidated balance sheet of June 80
The Pacific Gas e. Electric is included
in investments. without any adjustment
to reflect the excess of market value OF
that stock over the value at which the
interests In the California subsidiaries
were carried prior to the transfer.
New Construction Here.
In discussing progress in Washington
on new construction for its local cor
porations, Frank L. Dame, president OF
the North American Co., in a letter to
stockholders explains
New building construction now in
progress by North American subsidiaries
in the District of Columbia represents
a capital expenditure of approximately
100000. The new official building
of Washington Railway g. Electric Co.
and Potomac Electric Power Co., which
will be ready for occupancy in the
Spring of 1891, was made necessary by
the Federal Governments acquisition
of the present site as part OF its plan
for concentrating public buildings. The
service building for the engineering,
maintenance and construction depart
nents of Potomac Electric Power Co.
will be ready in the Fall of 1880, and
shortly afterward the large new bus
garage now being erected for Washing
ton Railway & Electric Co. will be
available. Construction Is proceeding
according to schedule on the addition
to Benning power plant"
The property of the North American
Co. in this city is described by Presi-
dent Ham as follows:
Washington Railway & Electric Co.,
Light e. Power Co.; electric service in
Washington, D. c., and 80 communities
in adjoining sections of Maryland and
Virginia; territory served, area 629 square
miles, population $40, 900; plant .capac-
ity, $4,000 kilowatts; customers, 1877
974 IL months output, 468,0l1 200 kilo-
watt hours Electric railway and motor
bis service in the District of Column
bia and adjacent suburbs in Maryland"
d. C. Exchange.
Capital Traction Co. was somewhat
active in trading on the Washington
Stock Exchange today, several blocks OF
stock changing hands on slight fuctua-
tons of price, from a low of 60%, clos
ing at a high of 61A. Washington
Railway e. Electric preferred brought
95ls and Potomac Electric 5la preferred
109 Three shares of Columbia Sand
Sz Gravel sold at 81
Among unlisted securities held largely
in Washington Wardman Real Estate
Properties 61a per cent first mortgage
bonds sold at auction last week in
Philadelphia at 49%. When issued
they sold originally at slightly under
100. The auction sale totaled $1,000.
Mayf1ower Hotel first mortgage per
cent bonds due 1948 are being offered
By dealers at So.
Heard in Financial District.
Charles D. Boyer, cashier of the Fed
eral-American National Bank, has re-
turned from his vacation.
Laurence A. Slaughter, vice preSi-
dent of the Commercial National Bank,
has left for his vacation at Upper Sara
nae, N. Y.
C. j. Goeckeler, vice president of the
District National Bank, is expected to
return shortly after Labor day from his
vacation at Ventnor City, N. j.
c. Bowie Chapman, resident manager
of Hartman g. Co., is expected to re-
turn to the Capital about September
10, on his yacht, from Castine, Me-,
where he has been spending the Sum-
mer,
Charles c. Lamborn, treasurer of the
National Savings g. Trust Co., will re-
turn next Tuesday from vacation at
Manassas, Va.
Frank p Morse. Washington mana
ger Of j. g. w. Seligman & Co., who
is on vacation along the New Jersey
Coast, will spend the holiday next Mon
day with Robert v. Fleming, president
of Riggs National Bank, at Spring Lake,
N. j., returning the next day to WASH
1ngton.