Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-27
M'LACHLEN BANK
BRANCH WILL OPEN
DOORS TOMORROW
Many Invited to Attend For
NAL Event at Fourteenth
Street Institution.
STEAMBOAT co. RIGHTS
ARE QUOTED AT II BID
Eighteen and 0ne-half Asked on
When Issued Basis-Base Ball
Stock Is Higher.
BY EDWARD C. STONE.

building will be ready for business and
public inspection tomorrow when the
new home of the McLachlen Banking
Corporation will throw open its doors
at $40 Fourteenth street southwest, di-
rectly across from the Bureau of En-
craving and Printing. Announcements
have been sent to bankers all over the
city and to many business men invit-
ing them to look over the bank.
Already the new bank has attracted a
great deal of attention from passerSby
on the arterial highway leading from,
Washington into Virginia. The build
ing Is designed In Georgian style and
differs in appearance from any other
bank In the city. Striking quaintness
has been obtained through the con-
struction of large chimney ends and
steep sloping roof of rough black slate
surmounted by a white cupola.
The new building has a 50-foot
frontage, is 20 feet deep, one story in
height and has a mesSanine. A wing
houses o private garage and the boiler
room. The first-f1oor space Is subdi-
vided, the bank occupying approximate
~ three -fifths Of the area, the re-
mainder being leased for other business,
but available in the years to come for
banking business should the need for
expansion arise.
The buildings facade has Q base of
black polished marble and is faced with
granite of mixture Of warm and cool
tones, resulting in a general tan color.
The doorway, cornice and other trim is
of buff limestone. In the soffit panels
of the cornice are rosettes, each with o
light bulb as its center, giving at night
q soft illumination of the front. The
cupola is adorned with clock.
Cageless Counters Adopted.
The banking room has been carried
out in early American style by the use
of plaster walls and ceilings of sub
dued color and Of knotty white pine, In
antique finish, for all woodwork includ-
ing the banking screen. The open
counter plan has been adopted. This
unusual type OF bank was planned by
Arthur B. Heaton and built by G. Wohl-
gemuth, jr. It is a distinct credit to
the new bank buildings which have
been erected in Washington in recent
years and has every facility for modern
banking. The location Is considered
better than the branch's former location
which the Government took over.
The officers Of the bank, which has
its main Office at Tenth and G streets,
are Lanier P. McLachlen, president;
A. MaSse, vice president and treasurer;
Archibald McLachlen, secretary and as
sistant treasurer; Guy D. Cowl, assistant
treasurer, and e. L. w. Goldney, auditor.
The directors include F. r. Horner,
Thomas r. Harvey, John A. Masse,
Archibald McLachlen, K. p. McElroy,
Edwin H. Etz, Lee G. Corbett, L. p.
McLachlen, Henry e. Bittinger, George
Miller and William B. Kerkam.
Steamboat Rights on Exchange.
Norfolk & Washington Steamboat Co.
rights appeared on the Washington
Stock Exchange yesterday, following
Fridays listing by the board of gov
errors. They were quoted on a when
issued basis at II bid and 1872 asked.
The Saturday market opened with
Washington Railway & Electric pre-
ferred selling at esq, American Security
Paper preferred at so and Mergenthaler
at 10TH.
After call, Potomac Electric Power 6
per cent preferred came out at 112k,
the 512 per cent preferred at 10SL2, and
Federal-American National Bank at 280.
In the bond division $4,000 Capital
Traction IS changed hands at 95, $1,000
Railway & Electric As moved at 871a
and $500 Washington Gas IS, series A
bonds sold at 1929.
The unlisted securities were called of
and few changes during the week in
quotations noted. The bid price on
Washington base ball stock was ad-
vanced from As to so and the asked
price from SIS to 60, indicating the be-
lief on the part of leading local f.
nanciers that the Senators are going
to land farther up the list than last
year.
At the request Of George A. Harris
president Of the Potomac Joint Stock
Land Bank, the banks 5 per cent 1884,
81 issue OF Land Bank bonds were with
drawn from the trading list, beginning
Monday. The bonds have recently been
quoted at SO bid, offered at 90. The
last sale was made at 81.
Washington Gas March Net on.
In its monthly report filed yesterday
with the Public Utilities Commission
the Washington Gas Light Co. reported
q net income in March of $56,403 Is,
compared with $50, 1883 In March 1929
Operating revenues amounted tc
$477, 142.04, compared with $485 ,320.7e
a year ago; expenses and taxes required
S360,019.78, against 1851 ,85426 last year
having total operating income of $117,-
1925, in comparison with $l23, 466.5C
in the same period in 1929.
For the first three months of 1896
the gas company reported operating
revenues Of $1,545, 566.87, against ST.
sos, 341.80 a year ago. Operating ex-
penses amounted to $993,610.33, com.
pared with $1,013,980.01. The usua
other deductions left a net operating
income Of $453, 726.69, against $780,
269.20 a year ago.
After all deductions the company re-
ported q net corporate income for the
quarter of SASS 925.25, in comparison
with $472,523.30 In the first quarter ir
1929.
Georgetown Gas Reports Gain.
In the monthly report of the George
town Gas Co. net operating revenues
for March were given as $50, 431 AT
against $85, 68884 expenses and take,
required $50, 1883, against ST. ,431 81 6
year ago, leaving operating revenues o!
$40, 537.e4, compared with $l4,258.93 II
March 1929. After all the regular de.
auctions the corporation reported a ne
corporate income for the month amount
ing to $16,666.50, in comparison with
the smaller figure Of $10,459.93 las
year.
reported revenues from operation:
amounting to $299, 454,40, against 1884,
1889. Expenses in the three months
required $210,214.33, compared with
s2il ,65l 95 in March of last year.
After payment Of expenses and take
the Georgetown concern had an oper