Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-10-19
LOCAL BONDING COMPANY
Meeting of the Incorporators Held Yesterday
Afternoon.
The Prospects for Early Organixa-
ton Relieved to be Good
The Subscriptions.

A meeting of the incorporators of the Ma
tonal Bonding Company, the local financial
concern the presidency Of which District
Commissioner John b. Wight is expected to
assume. was held yesterday afternoon. The
meeting was a brief one, and adjourn
ment was taken until next week, when it is
expected definite action will be taken rela-
tive to the time when the company will
commence active operations.
1t is proposed that the capital stock of
the company shall be 10000 shares of the
par value of $500 About half of the
amount, it is stated, has been disposed Of
4,o1O shares of the stock having been sub
scribed for here, it is understood. An en-
deavOr has been made during the past sew
eral weeks to dispose of stock in New ork,
chicago and st. Louis, and 1t was expected
that reports from the cOmpany'S agents in
those cities would be presented at yester-
days meeting. Full reports were not, how
ever, received from them. and the admis-
sion is made that the stock has not been as
rapidly taken it Was hoped would be lie
case. Those interested in the enterprise
tary of the Navy Herbert submitted a
che ering report from New York where he
has lately been actively engaged in the in
terest of the company. Stock will be placed
IN Boston and in a number of western and
southern cities, and the prospects of a full
subscription within a reasonably short time
are said to be most encouraging.
Increase of Subscriptions.
Within the past two or three weeks the
local subscriptions have notably increased,
and it is explained that the organzat ton of
the company during the summer months
has had much to do with the delay in plac-
ing the stock, a majority of the moneyed
people being then out of the city. Then
too, according to one of those interested
in the enterprise, there has been persist
ent effort made by outside parties, interest
ion Nr f1iroty 1,E-
Germs, to circulate rumors to the detriment
of the local company.
1t Is stated that the head of a New York
company engaged in the business proposed
70 pc done by the company here has visited
Washington for the sole purpose of dis
cCuraStng the organization of the District
enterprise. Reports have been, and are be-
ing made that there is little money to be
concerns, 1t Is charged, have also en-
deavored to deter would-he subscribers
Encouraging Reports.
This, It is stated. has affected the sale of
the stock to certain extent, and it is said
that at one time the advisability of allow
ing the whole matter to rest until impress
sions created by such reports had passed
away was discussed. Reports of such an
encouraging nature were received and are
being received, however, that it was deter
mined to go ahead, especially as it was be-
isved the sole motive of those who started
disqufeting rumors respecting the success
OF the local company was to prevent, if
possible, the organization of an opposition
enterprise.
OF course, until the entire capital stock
has been subscribed for the company can
not commence active operations. IndeeI,
the incOrporators would not do otherwise
even If it We're possible, and money is to
be paid in until all of the shares have
been taken. As has been heretofore ex-
planned in The Star. Mr. Wight will not re-
Hnquish the position of member of the
beard of District Commissioners until the
company has been fully prepared to COM
mence business and he has been duly
chosen as its president