Evening star., 1936-04-18

able Trust co. IN
Baltimore. P. H. Whaley speaks to-
night. Herbert R. O'Conor, Maryland's
attorney general, being the banquet
POSTMASTER. The record delegation
from the Capital shows how wide
awake the Auditors Section of the
District Bankers Association has been
this year.
Gas Bond Issues Outlined.
In applying to the Securities and EX-
change Commission for exemption OF
fling declarations under the Utility
Holding Company Act of 1885, the
Washington Gas Light Co., which pro-
poses to issue 100000 refunding
Va mortgage bonds, due 1856, out
lined plans for several issues by sub
ndiaries in Maryland and Virginia.
Besides the So ,000,0 900 issue, four other
issues were described.
The application of The Georgetown
Gaslight Co. stated that it will issue
b196,OOO of General Mortgage IA per
rent bonds, series A, due March l,
1856. The proceeds from the sale OF
The bonds are to be applied to the re-
auction of existing Indebtedness of
The company to Washington Gas Light
Go. Application for authorization OF
The issue and sale of the bonds has
oeen filed with the Public Utilities
Commission of the District OF
Columbia.
The application of Washington Gas
Light Co. of Montgomery County,
Md, stated that it will issue Sl05,4 400
Of general mortgage 4A per cent
bonds, series A, due March l, 1856.
It is stated that the proceeds from
The sale of the bonds are to be ap-
Piled to the reduction of existing in
iebtedness of the company to Wash
hgton Gas Light Co. The issue and
,ale of the bonds have been authorized
oy the Public Service Commission Of
Maryland.
The application of the Georgetown
Gas Light Co. of Montgomery County,
stated that it will issue S128,000 of
general mortgage Az per cent bonds,
Rries A. due March l, 1856. 1t is
stated that the proceeds are to be
applied to the reduction of existing
indebtedness of the company to Wash
ngton Gas Light Co.
The application of Rosslyn Gas Co.
stated that it will issue $78,700 of
general mortgage Al per cent bonds,
series A, due March l, 1856, proceeds
rom the sale to be applied to the
reduction OF existing Indebtedness of
Va tn UoShiTu Gas 7 .iul1f
20. The issue and sale have been au-
thorized by the State Corporation
Commission of the Commonwealth of
Virginia, the statement said.
March Rural Sales Mount.
Daily average sales of general
merchandise in small towns and rural
areas for March were about 91a per
eent higher in dollar volume than for
March 1885, and were "a per cent
lbove those for the same month Of
1884. These changes were revealed by
preliminary estimates of the Bureau
of Foreign and Domestic Commerce,
based on rural chain store and mail
order sales.
Sales for March increased about
l8 per cent from February. or con-
nderably more than the usual in
crease at this season of the year
The seasonally adjusted index, there
fore, rose to 1862 for March, on the
basis of 1929-31 as 100, from SO for
February and 961a for January.
Sales for the first quarter of the
year were 7A per cent above those
Tor the corresponding period of 1885.
Heard in Financial District.
George r. James, former governor
Of the Federal Reserve Board, is re-
covering from his recent illness. and is
expected to leave washington for
Memphis, Tenn, soon.
The Federal Reserve Boards regu-
lation "U," which relates to loans on
collateral by member banks in the
Federal Reserve System, goes into
effect on May /. This is the rule
over which there is so much discus
sion among bankers just now.
The report by T. H. McInnerney of
the National Dairy Products Co. that
earnings are running 7 per cent ahead
of the first four months Of last year,
Is good news to Washington, where
the company's securities are widely
held.
Earnings of American Stores Co. in
March showed 81 per cent gain
over last year and were up 3.3 per cent
In the first quarter. They were also
much better than in February of this
year.
For the twenty-ninth consecutive
year American Metal Market has pub
lished Metal Statistics and now is
distributing it. The book contains
statistics on miscellaneous economic
subjects, which have wide interest and
value to the iron, steel and metal
industries.