Evening star., 1938-01-06
MARYLAND SETS
TOSALESPACE
Registrations in November
Run 81 Per Cent Ahead
of Year Ago.
By EDWARD C. STONE.


Maryland annexed the best record
in new automobile sales in November
Of any State in the Fifth Reserve
District, according to the latest report
from the Reserve Bank of Richmond,
the announcement being based on
neW-car registrations.
During November, 1887, Maryland
registrations totaled 3,186 against
3013 in November, 1886, or an increase
Of ST. per cent.
New cars sold in the whole fifth
district in November dropped 10 per
cent behind the number sold in the
same month in the previous year.
District of Columbia sales totaled 1,74l
cars against 2,297 in November, 1886,
a decrease of "a per cent.
Virginia's November sales totaled
3,204, as compared with 1888 for
November of the previous year, drop
of 5.4 per cent West Virginia sales
were off 6.5 per cent, North Carolina
10 per cent and South Carolina II
per cent.
In the first II months of 1887 Mary
land automobile sales were 10 per cent
better than in 1886 Sales in Wash
ington totaled 26,789 cars, were lO.6
per cent under last year, but Virginia
sales were 39 per cent ahead of 1885,
West Virginia sold practically the
same number as in the previous year;
North Carolina boosted sales IS per
cent and South Carolina 10 per cent,
Market Bonds to Be Retired.
Proceeds from the sale of an issue
OF 100000 first mortgage 15-year
sinking fund Az per cent bonds of
the Terminal Refrigerating g. Ware
house Corp. will be used to retire
100000 Washington Market Co. first
IS and S390000 first mortgage 51a per
cent notes, both of which fall due on
April l, 1888, it was learned in the
financial district today. The $500 900
Issue has already been registered with
the Securities and Exchange Commits
sion.
The new issue will be a portion of
an authorized issue of 81 100000. The
indenture provides that the additional
S3OO,OOO bonds authorized may be
issued only for the purpose of paying
for permanent additions, extensions,
betterments or improvements to the
real property and fixtures.
An annual sinking fund of 3 per
cent, or $4,000, is provided, which
will retire As per cent of the loan bv
maturity The bonds will be secured
by first mortgage on the real estate
embracing the two large plants of the
company located and Fourth and D
streets and Eleventh and E streets
S.W, and the machinery and equip
ment. These properties and their
equipment have been recently ap-
praised at $2,565,597.
The company has outstanding ST.
100000 of capital stock of $50 par
value, which is listed on the Wash
1ngton Stock Exchange, and on which
it has paid per cent, plus extras, for
many years. The company and its
predecessor-the old Washington Mar
ket Co.-have an unbroken dividend
record which goes back to 1876.
Messrs. Frost, Myers and Towers
represent the company in connection
with the handling of the legal details
OF this issue before the Securities and
Exchange Commission. Y. E. Booker
q Co. are named as the underwriters.
Institute Faculty Announced.
Paul j. Seltzer of the American Sc
curlty & Trust Co., chairman of the
Educational Committee of Washing
ton Chapter, American Institute of
Banking, today announced the faculty
for the next semester, as follows:
Real estate and home loans-In-
etructor, Harry :. Kane, jr., assistant
secretary. Columbia Title Insurance
Co. and instructor at Columbus Uni
versity.
Investments II-James c Dulin, ir,
treasurer, American Security & Trust |
Co.
Law Raymond B. Dickey, dean
and member of the District bar, and
Bolitha j. Laws, member of the Dis
trict and the New York bar.
conomics-Norman E. Towson, as
sistant treasurer, Washington Loan g. |
Trust Co.
Credits Harold w. Burnside, as
sistant cashier, Riggs National Bank.
Banking III-Ralph Endicott, as
sistant treasurer, Washington Loan & |
Trust Co.
The real estate course is new to the |
chapter and is expected to fill real |
need among junior bankers for home |
mortgage investment information.
Dividends Payable Shortly.
The Washington Gas Light Co. will |
pay 30-cent quarterly dividend on |
the common stock on February l, to |
stockholders of record January is, !
and the quarterly dividend of s1121a
share on the $3.50 preferred stock
February 10, to stock of record jan
uary 81.
Three $1,000 transfers in Capital
Traction IS on the Washington Stock
Exchange yesterday at IS were un-
changed from other recent sales
Washington Gas preferred gained a
half point in selling at 971a and
Washington Gas SIS, 1860, were strong
at 116. Volume appears to be improv-
ing.
The Federal Reserve Board and
Federal Deposit Insurance Corp. have
called for the condition of banks
which were not included in the con-
troller of the currency's request. The
insurance corporation also asks for
earnings and dividends records for
1887.
Heard in Financial District.
President William Montgomery of
the Acacia Mutual Life Insurance
Co. was presented a scroll on which
were the names of 258 associates, on
the occasion of his birthday, last
week. He has just started his forty
seventh year with the company.
The will of w. j. Harahan, late
president of the Chesapeake g. Ohio
Railroad, showed an estate valued
ct more than $321,000. Richmond
dispatches said today.
Baltimores overseas commerce in
the first IL months of 1897 increased
"a r>er cent over 1919