The Washington times., 1901-07-13
Views of business Men and other
Matters of Interest.

w B. Hibbs: II returned from New
York today with not a very rosy view of
the market situation. Sentiment In Wall
Street is not optimistic, and the reasons
for the change from the confidence ex-
pressed by many a few weeks ago seem
good The market has been over-bought,
and with the money outlook not good
and the crop scare, a very real one, 1t
was not surprising that the break should
come Cali money was easy this after
noon after settlement hour, but this fact
has no real significance. 1t is a fact that
time money is dear in New York, and that
the bankers are expressing anything but
confident opinions as TO the outlook, I'm
less there are heavy rains in the corn
belt / look for lower prices and even If
the rains come 1t would not surprise me
TO see prices drift to a tower level.
1T is the opinion of some very astute
financial people in the street that the re-
latious between the Morgan and Harri-
man interests are not all that they might
be for friendliness. To many the break
today in Union Pacific looked like Nor
gan selling, through Mr.. Keene, perhaps
for the purpose of giving the Hartman
stock was very rapid. and there seemed
to be no effort TO sell to the best advan-
taGe, but rather the other thing, TO get
the price off as much as possible.
The local stock market Will probably
feel the big break I'm New York. The
holdings of New York stocks by Wash
ingtonians are heavy. as Is usually the
case; some investments in local securi-
ties may be sacrificed to protect margin
accounts in New York securities. / do
not look for any very bad decline locally,
however"
Mr. Hibbs has been a bear on the mar
ket for several days.
The Union Trust and Storage Company
of the District yesterday placed on file
with the Recorder of Deeds a mortgage
for s3CO, 600 to Charles G. Dawes, I'm his
official capacity as Comptroller of the
Currency, and to his successors in that
office The mortgage is on the real estate
of the company. comprising its storage
warehouses. and all of square 713, bounded
by h and l. Streets and Delaware Avenue
and First Street northeast, on which they
are situated. The mortgage is given in
compliance with the provisions of the act
Of Congress Of october l. 1890, under which
the trust companies of the District are
incorporated, which provides that such
companies must deposit with the Comp
troller of the Currency such securities as
he may require, TO the extent of one
fourth Of their capital stock, as a guar
autee for the faithful performance OF ndu-
ciary matters
II is optional with the trust companies
ana with the Comptroller, under this law,
whether bonds a.-d other like securities
shall be deposited with the Comptroller
or a mortgage be given. The usual plan
has been the giving of Il mortgage, as
this is more convenient, both 10 the Comp
trolieT and TO the company. avoiding as
it does the possibility of the loss of the
securities in any way, and also avoiding
the trouble which occasionally might arise
in the case of a desire TO transfer
curities deposited The Union Trust and
Storage Company. when 1t was formed
deposited securities with the Comptroller.
but has now made the change to the
mortgage plan. The change would have
been made some time ago, except that