Evening star., 1936-03-14

on July l this
W. J. Waller. year and $780,
900 Washington Gas Light 10-year 6
per cent mortgage gold bonds, series
'B are due on october /, next. This
means that some kind OF important
action on new financing should be
taken by both corporations before very
long.
Both issues have had long listing on
the Washington Stock Exchange. The
Potomac Electric Power SIS are now
selling around 10o1a, while the Wash
ington Gas Series B" IS are quoted
around 1OOA and sold at that figure
recently. Both quotations are only a
little above par simply because the
bonds expire this year.
Holders of the present bonds are
wondering what the two companies
may offer into which they can switch
their funds when the present issues
are taken up. Will the new bonds be
offered present holders of the old
bonds, and what will the interest rate
be? These are the questions most
often discussed.
Neither company has made any pub
lie statements yet as to plans under
consideration for the new financing.
No Official requests are before the
Public Utilities Commission, asking
approval for any new issues. and no
registration papers have been filed
with the Securities and Exchange
Commission. Yet the time for action
S not far distant.
In addition to meeting the $780,
oCo series "B" bond payments the
Washington Gas Co. also has certain
bank loans which, according to re-
ports in the financial district, will be
Iaken care of with the same financing.
This would indicate, investors say.
hat the new financing may run
Iround S3,o0O,00 instead of $780,
200. 1t may be even higher figure.
Waller Has Fine Record.
Wilmer j. Waller, who was this
week made a director in the Hamil-
son National Bank is a former presl-
lent of the District Bankers AsSocla-
ion, serving the organization in 1929.
He has been vice president for the
District of Columbia of the Ameri-
IAN Bankers Association, served as
president of Washington Chapter.
American Institute Of Banking, IN
1921, and has always shown an active
interest in institute affairs.
He entered banking as a runner.
Born in Sabetha, Kans., he came to
Alexandria, Va, during his boyhood,
md was educated in the public schools
If that city. His first position IN
Washington was with the old Amer
can National Bank in 1906. He filled
Ill the clerical positions and was
elected assistant cashier in 1917.
Three years later he was made cashier
md on consolidation with the Federal
National became vice president OF the
merged institution, the Federal-Ane
can National.
When the Hamilton National Bank
:ame into existence, Mr.. Waller was
elected vice president and cashler,
which positions he now holds. He is
4 member of the Association OF Re-
,erve City Bankers, has been on the
Advisory Council of the Stockholders
Association of the Federal Reserve
Bank of Richmond. A fine golf player.
ae is an official in the Belle Haven
Country Club.
Millions of pounds of cotton, accord
ng to the Cotton Textile Institute,
will be utilized in the Nationwide
demonstration, authorized by the De-
,artment of Agriculture in $780,
300 allotment, of the practicability OF
ising cotton in highway construction.
Forms outlining the departments
program will be forwarded to Bureau
IF public Roads District Engineers
Who will encourage highway officials
md engineers of every State IN the
Union to requisition both cotton fab
ic for reinforcing bituminous-surfaced
highways and cotton mats for curing
concrete pavements.
1.-THE DEPARTMENTS action in making
:his sum available will be gratifying,
,aid DR.. Claudius T. Murchison, presl-
;ent of the institute. ito the entire
industry as some definite evidence OF
he Governments interest in expand
nn outlets for American cotton. rms
sa work of tremendous importance to
cotton growers and cotton manufac-
lrers alike, and one on which this IN
iustry. through its institute. has con-
.entrated efforts uninterruptedly LOT
nearly a decade"
The immediate potential market for
.otton reinforcing fabric, according
20 the institute, which for nearly nine
years has sponsored development OF
he new technique and upon whose
,pplication for an allotment the De-
,artment of Agriculture acted, is in
.icated in the construction annually
Of from 10000 to 10000 miles OF ol-
summons surfaced roads.
Heard in Financial District.
Daily average sales of variety stores
Tor February, 1896, were about per
cent lower, in dollar volume, than for
February, 1885. but l per cent above
those for the same month Of 1884,
according to the Department Of Com
merce.
Sales for February increased about
D per cent from January, or less than
The estimated seasonal amount. The
aggregate value Of sales for the first
two months of 1885 was 31a per cent
above that for the same period Of the
previous year.
Virtual agreement on a regulation
which will govern the making Of bank
loans for purchasing or carrying Sc
curities have been reached by the
Federal Reserve experts and members
Of a special committee of the Ameri-
can Bankers Association, says the
Wall Street Journal.
Emergency crop and feed loans
through the Farm Credit Administra-
ton are now available prior to March
IS. Gov. w. I. Myers has announced.
The same method and procedure as
In past years will be followed. Pref
erence will be given to applications
of farmers whose cash requirements
are small, and no loans may be made
for purchasing live stock or machin-