Evening star., 1932-12-20

tthe S4 ,OOO.OOo Gas
Light per cent,
series A, bonds are Verne p. Simmons.
also due in 1888.
The refnancing is largely to take
,care of these two maturing issues which
together call fc. stSSv,<)0. 1t is said
the gas company also has some ST.
1000 900 in bank loans required in the
normal operation of the big utility
plant, so that the officials decided to
make the new issue S8,400 900.
. President Marcy Sperry and the di-
rectors have been working on the details
for some time. 1t is understood that
the gas company will refund to Wash
ington investors the District OF Column
bia Intangible tax of /. of per cent,
thus making the net yield equivalent
to that received on per cent taXible
bond. The bonds will also carry to 2
per cent Federal income tax free
covenant.
The issue will be offered simultane-
busly throughout the country. In view
ef the fact that approximately s6,O0o.-
p0O Of the maturing bonds are held in
Washington, it is considered quite prob
able among local financers that there
will be a lively demand here for the
new issue 1t is stated that the new
bonds will have the same standing as
the Washington Gas Light IS. series B,
now have.
The washington Gas Light Co. was
, established in l848 and has never yet
passed a dividend. This is the first
financing the company has undertaken
since 1923 when Ord Preston, now
president of the Union Trust Co., was
head of the concern.
Simmons Urges Christmas Thrift.
n o<
staff of the United States Bureau of
Efficiency, made strong plea for men,
bership in Christmas savings clubs, in
"a radio address last night, sponsored
by the Bank of Commerce g. Savings.
Mr.. Simmons said in part:
present conditions require that more
attention be given to our individual
financial programs. Practically every
one is receiving diminished incomes
and at the same time. more demands
and requests for financial aid. These
conditions make it more difficult for
the individual to plan the budget. and
saving becomes more vital than ever.
Unless provision is made to deduct
from income at regular intervals
specific amount however small, the
average salaried person and wage Garner
will find that current income will
seldom exceed current expenses. On
the other hand, if provision is made
to make weekly payments on a Christ
mas savings account you will find that
the remaining income will still meet
expenses and. in addition. you will be
building a reserve for relief of an al
ready ever burdened financial load. 1t
is long step toward financial inde-
pendence. So 1 suggest that you set
aside your savings first. Then you can
spend the rest.
Il call upon you, fathers and mothers.
to recognize the value of saving and to
teach your children accordingly. The
family circle is the one institution that
must keep going as all progress depends
upon it. There rests with every parent
a responsibility transcending all others
in Importance of guiding their children
in forming the proper habits of living
and saving. A child cannot practice
other ways We know that the habits
formed in childhood have greater in
11uence on the life OF the individual
than any other element,
This is one way rebuilding can come
v-the rebuilding of America-the re-
building of the entire world. If We will
save and become thrifty We can do
our part to raise the nations of the
world from the chaos of devastation
and Gebt Thrift is patriotism, and as
one great leader stated In peace or in
war thrift is the strong right arm of
civilization
Bond Club Holds Luncheon.
The Washington Bond Club held its
first luncheon meeting of the season
yesterday noon at the Carlton Hotel
It. Baker Robinson partner in Y. E.
Booker & Co. being in the chair. There
was large attendance present and the
year started of with considerable en-
thusiasm
The guest speaker was David Law
United States Daily. Mr.. Lawrence
gave a very interesting talk on the
Hnanclal outlook as he sees it.
The opinion among the Bond Club
members is that things will be better
during the coming year even though
there are still many adjustments to be
completed. They believe that the bot
tom was hit and passed last July
In addition to President Robinson
this years officers include Frank P
Morse, vice president, James P Nolan,
secretary treasurer. and James H.
Lemon and Carl R. Kurt, members of
the board Of governors.
Regular Dividend Voted.
The regular dividend, at the rate of
3 per cent per annum. was declared to-
day at the regular monthly board meet
Ing OF the directors Of the Prudential
Building Association The dividend is
payable on January l. 1888 to the
stockholders of record as of December s.
The annual meeting Of the stock
holders Of the association will be held
January 10, at the Offices of the as
eociation, in the Second National Bank
Building. Directors of the association
are John B. Colpoys, Hugh Reid, T.
Howard Duckett, Harvey L. Cobb,
Thomas E. Hampton. Curtis Walker,
Luther C. Steward and Thomas D.
Lewis.
Today's d. c. Exchange Trading.
On the Washington Stock Exchange
today Capital Traction IS were active,
opening at 38 and closing at 37l,. Cap
ttal Traction stock was stronger, clos
ing up to Az, after several sman-lot
transfers. Georgetown Gas Light IS
moved at 1O2