Evening star., 1938-11-15

port, resources of Perpetual increas-
ed by over $2.000,000 during the year,
bringing total assets up to $48 ,000,-
900. 1t was stated at the meeting
that no other association in the
United States has as large a bal
ance sheet.
The report also disclosed that dur
Ing the year loans were made aggre-
eating $15,5OO,OOO while surplus and
reserve accounts increased to 50 8OO,-
900.
Directors named were Samuel
6crivener, DR.. William C. Schaf-
hirt, Vernon G.. Owen, John G. Sco-
field, R. K. Espey, F. w. Harper, E.
C. Baltz, A. C. Bishop and the presi-
dent, DR.. Gusts.
Bondholders Buying Stock.
Holders of Washington Gas Light
5 per cent bonds, due in 1858. are
buyers of much of the Washington
Gas Light preferred stock which is
now being purchased on the WASH
ington Stock Exchange, it was
learned today.
mand for Washington Gas prefer
red that the price hit 104 today, a
new high for 1898, arousing wide
interest in the financial district.
1t has been the most active issue
on the exchange this year
AS already noted. the $8,500000
Gas IS, due in 1858, have been called
for redemption and new issue put
out at lower interest rate and sold
to six large insurance companies.
The redemption date on the old
bonds is January 8, 1889. at 10412
Owners of the bonds, however, do
not have to wait until that date
but may surrender them at any
time at the Riggs National Bank
here or the Chase National in New
York and receive the principal, pre-
MUM and accrued interest up to
January 3, at once
Many holders of the bonds have
already sold them and are switch
ing into the company's preferred
stock. At present quotations the
yield on the stock is over per cent,
which is better than the average
return on a great many other stocks
Advertisers Honor Baltz.
Honor guest Of the Advertising
Club of Washington, Edward c.
Baltz, president of the United States
Building and Loan League, and Sec
retary of the Perpetual Building
Association, was paid many glowing
tributes on his 50th birthday, at a
luncheon at the Raleigh Hotel yes
terday. His many achievements, es-
pecially his success in the building
and loan field, were accorded un-
stinted praise.
Alvin @. Ehrlich, Ad Club presi-
dent, introduced as the first speaker
DR.. Allan Davis, principal of Busi-
ness High School when MI. Baltz
was a student there. The second
speaker was Hugh j. Fegan, assist
ant dean of the Georgetown Uni
versity Law School, where the honor
guest got his law degree.
DR.. Marvin A. Gusts, president of
the Perpetual Building Association;
Arthur G. Bishop, president District
Building and Loan League; Godfrey
L. Munter, president of the District
Bar Association; Francis A. Muir
ray, president of the Washington
Real Estate Board, and 10 V. Nor
gan, representing the District Com
misSioners, added to the gaiety of
the occasion with brief and witty
remarks.
Replying to the laudatory remarks
Mr.. Baltz thanked the Ad Club
members and the Representatives
of so many other organizations for
their kind expressions. The luncheon
adjourned promptly in order that
Mr.. Baltz might fly to Chicago for
the opening of the National Build
ing and Loan League Convention
there today. The happy affair was
planned by Charles j. Columbus,
secretary of the Advertising Club.
Loss Is Turned Into Profit.
For the first 10 months of 1888
the Pennsylvania Central Airlines
earned net profit of $967.42, against
net loss in the same period in 1887
of $117,613, it was announced here
today. In october net profit totaled
S16.844, against loss last year of
1888 in the same month. So far
in November business has been the
best of any November on record,
the report said.
Receiver Cary A. Hardee of the
Commercial National Bank states
that more than 5000 checks are still
awaiting depositors in connection
with the latest dividend payment of
10 per cent, which totaled $3.50, 900
Many of the 1912 depositors have
already called at 1886 New York
avenue for their money. the re-
ceiver says, but many others have
not paid any attention to the recent
posal card notices.
j. Stewart Mcdonald, chairman
of the Federal Housing Administra-
ton. is attending the A. B. A. con-
Vention at Houston, to address one
of the section sessions. A large
number of other Government Off
cials are also present.
Washington Gas Again Higher.
Washington Gas Light preferred
stock reached 104 on the Washing
ton Exchange, another new 193t
peak and full point above yester-
days high mark. 1t closed with lOs
bid and none offered. Fifty shares
changed hands.
Action of the London Stock Ex-
change gripped attention OF early
arrivals at the brokerage offices here
today, the German situation being
the chief topic of conversation
Prices held flrmer than some traders
anticipated.
The American Bank & Trust Co.
Suffolk, Va, has Joined the Fedora
Reserve System, the Richmond Re-
serve Bank reports.