Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-08-21
LOCAL FINANCIAL NEWS.

The incorporation of a company to carry
on the business of selling, renting and
storing automobiles marks phase in the
development of this line of business in this
city. The new company is known the
Willard Automobile Station, Incorporated.
and as typical to some extent of what this
new device has accomplished the building
occupied was formerly used at livery sta
BILE. Charles Jacobsen is the president of
the new concern. Louis p. Hall vice presi-
dent and Albert L. Kull is the secretary
and treasurer. These officers together with
Henry Hammond and Eugene s. Cochran
form the board of directors. The capital
is s25 600.
Owing to the cost of the average ma
chine as compared especially with that of
the bicycle, which. is generally regarded
as the Immediate predecessor of the auto
mobile in the line of what are known as
popular facts. larger capital is needed to
carry on the business. AS a rule 1t is done
by the large concerns engaged in making
the machines establishing agencies at the
various selling points and that has been
the practice here. Now however, it is
proposed to form an independent business
representing possibly several makers of
which will be adequate to meet the demand
from those who want to buy well as
for those who merely want to rent a ma
chine.
The extent of this line of activity in this
city and it's rapid development shows that
the market here is a remarkably good one.
There are other indications pointing to the
same conclusion, such the organZa ton
by the District authorities of board for the
purpose of determining the fitness of per-
sons applying for a license to manage a ma
chine of the general type of an automobile.
The corps of bicycle policemen is now large
ly employed to properly regulate the opera
ton of this style of street vehicle, and the
number that Is daily seen indicates that
it has come into very general use, not only
for pleasure riding, but for business pur-
poses.
Mr. William T. Galliher has been elected
member of the board of directors of the
National Union Insurance Company to fill
a vacancy on the board.
A demand rather slight in character for
bonds of the issue of Columbia railroad IS
and Telephone SIS was in evidence at to-
days meeting of the Washington stock ex-
change by a slight advance made in the
prices bid over recently recorded quota
lions. One hundred and five was bid for
the railroad bonds and 1O4 for the telephone
bonds. None was offered of the first named
security and the latter could be had at 1O5,
but that figure did not suit the would-be
purchaser.
There was also an effort made to get some
gas certificates. and us was bid for 500
and 1161a for $1,000 without getting an offer
Ten shares of Capital Traction were sold
at 125, but there were no further transac-
tons, although the stock was offered at
125h. There were bids made at a less figure
than 125, and if the stock had been offered
in that range it is probable there would
have been purchasers.
A rather wide difference between the bid
price on the stock of the National Safe De-
post Co. and that at which it was offered
prevented any transactions. The prospec-
tive buyers were willing to pay 1851 while
the holders of the stock wanted 80.
The bid made for the Union Trust and
Storage stock was 1851. but two shares
were offered at 100 and were taken There
was no more stock offered at that price and
no higher bid than 1854.
There was a demand for the stock of the
Commercial Fire Insurance Company, and
81 was bid for twenty shares, but there
was no stock offered at that figure, or any
other
A bid of 5Sas for ten shares of gas stock
and an offer to sell that quantity at 59M
was the only record made in that stock as
no transactions took place.
One or two odd lots of few shares NJ
Mergenthaler brought ia. The bid for the
stock was 112, and ten shares sold for 1721k
Quite large block Of Graphophone com
mon sold for 49, but no more was forth
coming, although bids at the same figure
were made