Evening star., 1935-07-26
BOND RETIREMENT
PLAN IS AWAITED
1925, 900 Worth of Anacos-
tia and Potomac Issue
to Be Purchased.
BY II. b. ROGERS.

Much interest is being shown in
financial circles here in the method
to be used soon by the Baltimore
National Bank, at Baltimore, trustee.
In retiring about S325,000 worth of
first per cent bonds of the Anacostia
g. Potomac Ri er Railroad.
Cash was paid over to this bank
as trustee on July l for retiring
block of these securities, and it was
reliably reported here today that a
plan is now being developed for tenders
to be announced to bond holders very
soon.
The bank was said here to be wait
ing for official word from the Capital
Transit 60. in the matter. Yester-
day was the regular meeting day for
the transit beard and it was consid-
cred likely that some kind of COM
munication may have gone to the
bank.
First IS Studied.
On account of the lower price OF
the first SIS. it was believed here that
the retirementS would come out OF
this issue, instead of the guaranteed
SIS, which now are considerably above
par
Four of these 81 900 first SIS sold to-
day in trading on the Washington
Stock Exchange at 93 the first trans
action in this issue for some time.
They closed at SO bid and "a asked.
The first IS issue is outstanding i'll
the sum of S2,45l 900. maturity date
of l949 The guaranteed SIS of the
Anacostia outstanding in the sum OF
S455,O 900, due 1949, have been bid at
1861.
Gas Light Net Gains.
The Washington Gas Light Co.
shows a gain of 3.227 in net income
for the month of June as compared
with June 1884, but falling of In
net income of S78,201 for the first SIX
months of this year as compared to
the same period of 1884.
In its monthly report, filed with the
Public Utilities Commission, net op-
Grating revenue for the month of
June of s135, $50 compared with Sl20,-
O04 for June of last year, an increase
of Sl5,246.
Operating revenue for June. s479,-
426, compares with S443.573 for June
q year ago, an increase of s35,853.
Operating expenses, including taxes
and uncollectible bills, increased
s2O,6o7, this years figure being S344,-
176, against $323,569 in June, 1884.
this year, increasing sl27 from last
years total of s16,430 to $16,557, re-
suited in a gross corporate income OF
s151,8O7, as compared with S136, ,434,
an increase of $15,373.
Interest deductions of s71.s47 for
June, 1885, were $2,l46 more than last
years figure of s69,7o1, resulting in a
net income of s79,960, compared with
$685. for June, 1884, an increase OF
S13,227.
GEORGETOWN Loss Shown.
The Georgetown Gas Light Co.
showed a net loss for the month of
June, 1885, of S4,188 as compared with
q loss of s4,l82 for June last year.
Operating revenues this June were
sS5 ,954, as against $500, $50 for June,
1884, a decrease of $4,406. Operat-
ing expenses, including taxes and
uncollectible bills, decreased 1882,
this years figure being s86,316,
against $90,128 for June, 1884.
incorporating revenue was $4,477
more this year than last year. re-
sulting in a gross corporate income
of SAILS, compared with an income
of s232 for June, 1884, an increase
of s3,883. Interest deductions in
creased s3,889, this years figure being
ss,303, against s4,4l4 for June. 1884.
Acacia Assets Soar.
The Acacia Mutual Life Insurance
Co. made record progress during the
first six months of this year. accord
ing to reports submitted to the Board
of Directors by William Montgomery,
president.
Assets of Acacia increased to more
than $50 100000, a peak total and
a gain of more than S2000,000 In
the first half of 1885. The insurance
in force now stands at more than
$3.50, 100000.
A % per cent increase in the net
gain over the first six months OF last
year also was reported by President
Montgomery, and the siX-month in
come of approximately $7,000,00O was
shown to be the greatest for any
corresponding period in Acacia's an
nails. During the same period ap-
proximattely $3,250000 was paid to
policyholders and beneficiaries.
Indicative of improving economic
conditions generally, and the effec-
tiveness of Acacia's traditional en-
phasis ON conservation. is the fact
that during the first half of 1885
IA per cent improvement was eStab-
lished in the company's conservation
record.
Cites Examiners Reports.
During the course of the meeting
President Montgomery cited to the
directors the highly favorable report
made by the insurance examiners of
the District of Columbia. Indiana,
Louisiana, Oklahoma and Virginia,
who recently completed the regular
triennial examination of Acacia. Pres
ident Montgomery quoted the follow
ing conclusions of the examiners:
"As a result of this examination
the company was found to be in an
excellent financial condition, with the
investments we'll diversified.
The company is economically and
efficiently managed. The reserves are
ample to meet all statutory require
ments and to provide against lm-
foreseen contingencies as a result OF
f1uctuation of securities.
"A consistent growth is being made
in business and assets under the able
and conservative management which
has remained unchanged for many
years"
The board adopted unanimously
resolution expressive of the deep sense
of loss felt by the company in the
recent death of Vice President j. P.
Yort, who had been associated with