Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-09-25
LOCAL FINANCIAL NEWS.

On account OF an engagement OF Mr.. Tur-
ner Of the middle department Of fire insur-
ance companies the conference. with a COM
| mlttee OF the Business Mems Association.
Which was to have taken place today. will
be held Tuesday next. Mr.. Hamilton. the
manager Of the local board Of fire under
writer's. will also meet with the committee.
when the subject Of insurance rates on
commercial risks in this District will be
considered.
1t Is the desire Of the committee to have
the rates as low as possible, and. no doubt.
on the other hand, the representatives of
the companies will endeavor to show that
the present figures are reasonable. AS is
well known, all business property Is in
sured according to a schedule which theo
retlcally Is absolutely equitable. But the
application is apt to be affected by the
judgment Of the person applying the sched-
ule and hence Inequalities sometimes arise.
Property owners when dissatisfied with
insurance rates can go from the board
companies to those outside of that organi-
cation. and there is also recourse to the
mutual companies and to individual under
writer's
While apparently there is a monopoly in
the business owing to the extensive organ
ization among insurance companies, yet
there is still considerable genuine competi-
ton for business. which results favorably
for all classes of insurers.
Some of the members of the Bankers AS
ISOLATION are also members of the stock eX-
change and daily attendants. and at to-
days meeting Of the exchange the places
Of those that had gone down the river on
the annual outing of the association were
vacant.
gin gave the informant that the absen-
tees had reached their destination without
| missing single meal. Some of the men,
bers suggested that the stock of the COM
frnN vIyhi ha hnl mo-
party had been chartered ought to be
worth more on account of the increase In
the receipts due to the payment for the
use of the vessel. However as the stock
seldom comes on the market this suggcs-
ton was not considered to be of much
practical consequence.
A meeting of the directors of the COM
pany that has been organized for the pur
pose of building an electric railroad from
the Aqueduct bridge to Great Falls was
held in this city today. 1t was decided
to at once ask for bids for grading the road
and as soon a contract Is awarded the
work is to be begun.
1t Is expected the rebuilding of the Aque-
duct bridge SO as to permit the laying of
tracks will be finished at an early date. and
then it will be possible to begin the running
of the new road some time next summer.
local stock exchange today was the sale of
some $1,000 in gas certificates, the price
paid being 1920 AS the interest on these
securities is per cent, the present selling
price is on the basis of per cent.
Fifty shares of gas stock were offered al
61h and were promptly taken. AS for the
other securities on the list there seemed to
be but few sellers and fewer buyers.
One of the brokers announced that he had
100 shares of Capital Traction stock to sell.
The highest bid he could get was 120, and
SO he concluded there was no demand for
that particular stock.
A certificate of Incorporation of the
United States Government Advertiser was
placed on file here today. The company
was organized for the purpose of printing d
newspaper under the name mentioned Its
capital stock Is $4,000 The incorporators
are Charles H. Ridenout, John E. jerks
and Walter b. BergeYin.
Today's Government Receipts.
National bank notes received today for
redemption. $5OS. $685. Government receipts
from internal revenue. $3.50, 426: customs,
81 ,230. 1896: miscellaneous, $57 162. Expendi-
lures, 81. 100000.