Evening star., 1939-01-07

QueSted an eX-
preston from the membership on
where public accountants should
make their comments on contingent
tax liability: in the text of the re-
port. as a footnote to the balance
sheet or in the liabilities as a re-
server for taxes or contingencies. A
lively discussion is anticipated.
The following new members have
been admitted to the institute:
John Stoy, Louis r. Lucas, Theodore
McGann and H. B. Turner, jr.
Washington Gas Common Jumps.
Announcement that the directors
At the Gas Light Co. had raised the
quarterly dividend on the common
stock from 30 cents share to 37h
cents was quickly reflected in the
quotations on the Washington Ex-
change.
Before the dividend was an
nouneed the stock was quoted at "a
bid and ~ asked. On the day OF
the announcement the common
Jumped to % bid and 30ha asked.
A four jump in the bid for stock
selling around 25 is most unusual
and aroused much comment among
exchange members.
The 371a cent dividend is at the
rate of 81 so a year. Should that be-
some the regular dividend. it would
mean a yield of S per cent on the
stock. With no u per cent District
tax, the stock would yield 51z per
cent, which in these days is a most
attractive return. The asked price
moved up so fast yesterday that
there were no sales, all the actual
trading being in the preferred stock
st 107.
The high for 1888 on Washington
Gas common was 23as, with % as the
low mark. Trading was very light.
GobeI Plans Completed.
H. r. Bullock, chairman of the
Board of Directors of Adolf Gobel,
Inc, issued the following statement
in New York regarding the court or
der discharging the company from
section 77-b proceedings:
The order in the matter of Adolf
Gobel, Inc. debtor, made on Decem-
ber %, 1898, was formalsorder evil
dencing the fact that the plan of re-
organization approved in the early
part of 1885 has in all respects been
fully executed and that all claims
against the debtor existing on or
prior to April 26, 1885, have been
discharged"
The company has had plant at
Renning in this city for many years
and the stock is listed on the New
York exchange.
Bank Clearings Of Slightly.
Bank clearings in Washington for
the week ended Wednesday totaled
s22 ,439, ,666 SO, compared with S22,-
$50 ,94382 in the corresponding week
last year. Compared with the pre-
vious week, clearings increased 17.8
per cent.
Washington holders of American
Telephone stock are must interested
In the report that the company plans
TO expend more than $500 900 600 in
construction during 1899. This is
believed to mean that the 50 divi-
dend will be maintained during the
next u months, otherwise so large
an expense budget would not have
been adopted.
J. w. Phipps, jr.. who has been
assistant general freight agent of
ma Baltimore &c Ohio r r. in Wash
ngton. has been transferred to
Cleveland. His successor is John H.
Hague, who has been district freight
agent At Cincinnati.
IpatitHte Plans Dinner.
Harry G. Culshaw, assistant treas
urer of the Pennsylvania Co. for In
surance on Lives and Granting An
nuities, Philadelphia, will be the
guest speaker at the midyear educa-
tional dinner meeting of Washington
Chapter, American Institute of
Banking, at the Willard Hotel, Tues
day, January II. He Is past preSi-
dent Of Philadelphia Chapter.
e. The annual Washington Balti-
more life insurance sales conference
will be held in this city this year. on
January 20, it was announced today.
This Is one of the most important in
surance meetings of the year for the
District Life Underwriters Associa-
tion.
The voters of the country during
the year 1888 authorized a total of
Aa07,177.572 in State and municipal
bond f1otations. This is the largest
total since 1888, when authorizations
amounted to 07,121.176.
This tremendous total is accounted
for largely by heavy authorizations
during the last flve months of the
year. when the P. w. A. program
really got under wey, according to