Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-14
Warner BROTHERS
!. STOCK ISSUE NEAR
Interest Aroused Locally by
Report of New Financing.
Own D. c. TheaterS.

There Is much interest here in tht
rumored new financing Of Warner Bros
Pictures, Inc, which owns several
theaters In this city. and whose stock
is widely held in the National Capital
Latest reports point to a new issue
of l 1000 900 shares Of common stock To
shareholders at price of $22 share
the offering TO be put out by Goldman
Sachs g. Co.. with Hayden, Stone a.
Co. participating. There is rumor
that Kuhn, Loeb e. Co. may participate.
Warner Bros. own the Metropolitan,
Earle, Tivoh, Ambassador and many
other tfeaters in Washington.
The new financing becomes necessary,
1t is reported, on account Of rapid ex-
pansion of the chain of theaters
throughout the country. understood TO
have been purchased recently largely
by stock.
Reports that John J. Raskob. who is
q stockholder, may assume q responsible
post in the management of Warner
Bros. continue, and 1t was stated today
in circles here that RaSkob was one
of those who opposed the payment Of
a dividend which was passed last
week. Rumors that the dividend
would be paid in either notes or a
OWN 0AfA0ChN uRRNoANA pSANs W W
unfoundeG.
See Recovery in Stock.
Stock of Warner Bros., which de-
clined from a high of 80I4 this year to
a low of 2434. recently has been on the
upgrade Today it was hitting around
20 before noon.
operated with such success as chair
man of the Finance Committee Of Gen
eral Motors, Is taken in financial cir
cleS as q helpful influence In the man.
agement Of the amusement enterprise,
and there were unofhcial predictions
here today that after the refinancing
the stock would in all likelihood begin
o steady recovery.
Frank w. lee, vice president OF the
Mount Vernon Savings Bank. has re-
turned from vacation at Atlantic city.
He not only has resumed his reSpon-
Sibilities at the bank, but Is planning
new activities for the campaign OF or
ganized labor In this city to raise
$2o, 600 to complete financing Of the
District of Columbia World War Me-
mortal MIR. Lee. who is chairman Of
the Executive Committee OF the Gen.
trail Labor Union in charge of the cam
psign, reports steady progress toward
the goal. Labor is raising the total in
hand from S135, 600 to SIS 900, needed
for construction.
Directors Named.
Representative william Z. Hull Of
Illinois and A. R. R. ,Onyun of the
Washington Times were elected two
new directors OF Vasco Products, Inc.
at the annual stockholders meeting at
Brentwood, Md. c. j. Mains, president,
reported sales increase, and profit IN
crease of 30 per cent for the first seven
months of 1890 over the corresponding
period last year. This is the largest
volume In the company's history, Mr.
Mains reported. The majority Of the
stock Of this company is held In WASH
ington.
with washington concerned over the
many ups and downs Of the street car
situation here, there is interest In re-
ports showing that q number of street
railways located principally III up
State New York show an unbroken
eoluHln Of decreases in trafiic Each Of
the companies reported a decline in the
number OF passengers carried in the
four weeks ended August 2, 1880. as
compared with the same period year
ago. Rochester. with a decrease Of
61B,16l passengers, showed the great
est. decline in actual riding. The de-
crease for the entire Tbup was 2,3lS,-
1877, or 1871 per cclIS.
Trading On D, c. Exchange.
Local utilities comprised the entire
trading on the Washington Stock Ex-
change, no other stocks appearing in
the sales column.
Bonds we're more active than stocks,
and prices generally held firm. Cap
ltai Traction stock sold at 81 and Wash
1nEt0n Gas IS at 1914.
w W. Deal, mortician. with funeral
home ut El6 H street northeast, who
resides At s402 Sixteenth street, has
been elected member Of the board of
directors Of the Northeast Savings
Bank Mr. Deal has taken an active
part in the civic and business AFFAIRS
OF the community. he b a member Of
the Northeast, Business Mems ASsocia-
ton and also a member Of the Indian
Springs Golf Club
Gross operating revenues of Virginia
Public Service Co. and subsidiaries for
the second quarter of 1880 were ST.
S53, e66, compared with 81 SOS Ala in the
second quarter Of 1923 Balance avail
able for bond interest was $685., 42S,
compared with $3.50, 1923. Net for re-
tirement and dividends was $44s, 1873,
compared with S339,6o3.
Gatley's Health Improves.
. Albert S, Galley, executive vice pres
ident of the Lincoln National Bank,
who Is treasurer of the District Bank
ers' Association, lis gradually improving
in health at home, after. severe illness
from . cartIncle. but is not yet ready
to return to bis post. II may be some
time yet before he returns, IL was said
Nf M nj