Evening star., 1934-10-29
BANKERS PREPARE
LOAN PUBLICITY
Advertising Series to Stress
Availability of Ample
Funds Here.
nv EDWARD C. STONE.

.ng series of announcements stressing
the availability of ample funds for
loans to Washington business cor
porations, as well as to individual
borrowers.
The banks here are anxious to
loan a great deal more money IN
an effort to speed up business re-
covery. And they have it in their
vaults, plenty of it.
The plan to bring the loan situa-
ton before the public in this special
way was announced a week ago by
F. P. H. Siddons, president of the
local association. Since that time
the members of the associations Ad-
vertising Committee have been giving
special attention to the announce
ments which will appear in the near
future.
The action taken by the District
Bankers Association is similar to
that being started in many other
cities all over the country. Francis
M. Law. retiring president of the
American Bankers Association, re-
ported while here that the clearing
house associations all over the coun-
try are urging the banks to make
more vigorous efforts to extend loans.
If the demand for new loans spreads
rapidly all over the country at the
same time, it is believed this move
will have a decidedly helpful effect.
If the public does not want to borrow
money, the banks can do nothing
about it. They will have done their
part in offering loanable funds in
unlimited amounts. OF course, the
loans must be sound, bankable as
they are called.
The new move will show that the
banks are willing and anxious to
grant more loans The campaign
will refute the idea prevailing in some
circles that these financial institu-
tions are not interested in making
loans. Banks live by loans. Their
money must be made to work and
work hard.
Georgetown Gas Net Lower.
The monthly report of the George
town Gas Light Co. just filed with the
Public Utilities Commission yesterday
afternoon shows net loss for the
month of September, 1884, of $2,926,
as compared with net loss OF S46l
in September year ago. Interest de-
ductions for September, 1884, and
September, 1898, were $4,646 and
S5,O37, respectively. Operating rev.
enues increased $1,355 to a total OF
S82,7 ,746 in September this year, but
this was Offset by an increase OF
$2,558 in operating expenses, this
years September figure being S8l .O29,
as against S78,471 in September, 1888.
Incorporating revenue in Septem-
ber this year decreased $1,653 from
September year ago. This resulted
in gross corporate incomes OF Sl,72O
and S4,576 for 1884 and 1888, respec-
lively, which after interest deductions,
showed the net losses noted above.
Nine months figures this year indi-
cate an increase of ,288 in operat-
ing revenues, reaching a total OF
S986,040 Operating expenses, how
ever, totaling $965,l99 this year as
against S862, 1895 last year offset the
improved revenue showing with an
increase of $102,304, resulting in a
S13,016 decrease in net operating rev.
enue
incorporating revenue for the nine
month period ending September, 80,
1884, decreased $8,235 to total of
S6,911, resulting in a gross corporate
income of $27, ,752 this year as against
S49,003 in 1888. Interest deductions
this year totaled $44,687, an increase
of $2,OO8 over 1888, resulting in net
loss this year of $16,935, compared
with a net income of s6,324 year
ago.
d. c. Bankers At Conclave.
Several Washington investment
bankers are attending the annual
ers' Association at White Sulphur
Springs, w. Va. Among them are
Y. E. Booker of Y. E. Booker & Co.;
James M. Johnston of James M.
Johnston & Co. and William Miller,
with Brown Brothers, Hartman &
Co. The convention is considering
every phase of the investment situ-
alton.
From early reports from other cities
the gain of more than $20,000000 in
bank deposits in Washington since
the June 80 bank call was larger pro-
portionately than that enjoyed by
similar institutions in many other
places.
Two weeks from today the broker
age Offices in Washington will be
closed, as Wall Street will be cele-
brating Armistice day. Coming on
Sunday, November II, it will be OBJ
served on Monday. =
Western Maryland Railway reports
for nine months ended September 80,
1884, net income of $687,234 after
taxes and charges, equal to S387
share on 1T ,420 shares of per cent
first preferred stock on which no
dividends have been paid. This COM
pares with $526,733 or $297 share
on first preferred stock in nine months
ended September 80, 1888.
Today's Trading on Exchange.
With some of the exchange men,
bers attending the investment bankers
convention, trading was dull on the
Washington Stock Exchange today.
Washington Gas Light 5s, 1860, opened
business with a $500 sale at the strong
price of 1922. In the stock division
Washington Railway & Electric pre-
ferred again sold at 10012. Bid and
asked quotations were firm.
George E. Fleming. vice president
of the Union Trust Co., has been back
at his desk for several days, following
a short vacation trip through rural
England and short visit in Paris
Norfolk g. Western Railway reports
for nine months ended SEPTEMBER 80,
- 1ff
taxes and charges, equivalent after
dividend requirements on per cent
preferred stock, to $40 a share on
1,406, ,483 shares of common stock
This compares with $15,879,414, or
$1,000 a common share in first nine
months of 1893.