Evening star., 1940-04-19

chief, Division of Commercial At
fairs, Department of State. Anoth-
er Washington man, Ellsworth G.
Alvord, is to speak at general ses-
sion on Solving the Tax Problem"
Other speakers are Ralph j. Wat
kins, economic adviser, National
Resources Planning Board, and
Representative Howard W. Smith,
chairman of the House committee
investigating the National Labor
Relations Board.
Another Representative, Clarence
F. Lea, chairman Of the House Com
mittee on Interstate and Foreign
Commerce, will speak on transpor-
tation. Admiral H. R. Stark, Navy
Department, will talk on national
defense, while Lewis H. Douglas,
now president of the Mutual Life
Insurance Co. of New York, is listed
for the annual banquet. The pro-
gram as a whole is considered one
of the best in years, the sessions
coming at a time when there are
unusually vital economic matters
clamoring for consideration.
Insurance Officers Elected.
Henry E. Bittinger and Robert
e. Buckley were reelected for three
year terms at the 05th annual meet
ing of the policyholders of the Mu-
tual Fire Insurance Co. of the Dis
trict of Columbia. it was announced
today. The other directors are
Charles Kattelmann, l.. Pierce Bote-
Ter, Charles NJ Boteler, Charles F.
Crane and w. &. H. Church
Charles Kattelmann was re-elect-
ed president; l.. P. Boteler, secre-
tary; Henry E. Bittinger, treasurer;
and William Reed Macgill, assist
ant secretary. Mr.. Kattelman has
been director over 80 years and
president nine years; Mr.. Bittinger
a director and treasurey for nine
years; Mr.. Boteler has been con-
nected with the company for As
years and Mr.. Macgill over 40 years.
Secretary Boteler, in his annual
report to the policyholders. stated
that business during the past year
compared favorably with other re-
cent years. The annual meeting
was held a. 1901 H street NV
Gas Light Rights on Market.
Washington Gas Light Co. rights,
which allow common stockholders
first opportunity to purchase the
new preferred stock at $103 a share,
are now selling in the financial dis
trict around 3 cents a right, it was
reported today.
The rights expire on April 80 when
q syndicate of Washington invest
ment firms, which has underwrit-
ten the issue, will place the unsub-
scribed balance of the preferred
stock on sale to the public.
AS announced recently, the Wash
ington Gas Light Co. is offering
an issue of 24,4O0 shares of $3.50
cumulative preferred stock for pub
lie SALE The common stockholders
are permitted to purchase STA shares
of the new stock for every 100 shares
of common stock now held.
AS a good deal of the stock is
carried in far smaller than 100
share lots, there are many fractional
shares to be adjusted. In case a
small holder does not wish to eXer-
else his rights, it is said he can't
sell them at a profit as the COM
mission takes all he might make.
Brokers said today they are get
ting many subscriptions for the bal
ance of the stock. They cannot
agree definitely to fill these orders
as they do not know just how much
stock will be left after the common
shareholders have completed their
subscriptions.
Marx to Conduct Session.
Raymond G. Marx, controller of
the Riggs National Bank, will pre-
side at tomorrow mornings session
of the Eastern Regional Conference
of Bank Auditors and Controllers,
In Baltimore. Lester A. Pratt, Wash
ington accountant, will be one OF
the speakers.
Mrs. Helena D. Reed, assistant
trust officer of the Lincoln National
Bank, will be the chief speaker at
the annual dinner of Utica On. "
Chapter, American Institute OF
Banking, next Monday.
In the first two months Of 1940
the Pennsylvania Railroad earned
20 cents a share on the stock against
8 cents a year ago. .
In the first quarter of 1910 the
Chesapeake Railroad earned 81
cents 4 share on the common stock