Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-12-30
LOCAL FINANCIAL NEWS.

In some respects the year that IL drawing
to a close has been the most remarkable
in the financial history Of this city. In
spite of the depression affecting the stock
market and the violent declines In stock
values which had a direct or indirect in
fiuence on business throughout the country.
the financial condition of this city. as
brought out In the statements OF the banks
and trust companies was so excellent as to
attract general attention throughout the
country. AS far financial strength went,
there was no city that made a better record
during the uncertain months that have just
past.
This is attributed to the care and judS-
ment displayed in the management of local
institutions. and more especially to the
freedom from promotion schemes OF any
sort In addition TO maintaining a sound
condition, when financial panic seemed
to be imminent, the resources of the local
financial institutions have actually in
creased during the past year, the amount
being nearly nine millions of dollars. Fol-
lowing the Increase Of the capital and sur
plus of Riggs National Bank to 81 100000.
In each instance which was brought about
In the year 1902. during the year just closed
new national bank was started. namely,
the American National Bank. with a capt.
tai OF $250.00 The Citizens and West
End Banks were consolidated, giving to the
one institution a capital OF half million
OF dollars, previously divided between the
two, and the American Security and Trust
Company increased its capital from 81 250-
OO0 to 100000 and it's surplus from $780,
600 to $1.5O00c0.
From these and other circumstances 1t is
the general opinion of the men prominent In
financial circles that the new year opens
with assuring prospects for business. 1t Is
the belief that a continuation of prosperous
times are in store for Washington, and that
the material interests will be largely adj
vanced during the coming twelve months.
The dealings in the bonds of the WASH
fngton Railway Company in the stock
change today were limited to the sale of
one bond at IFS. They were offered at this
price, but the best bid made was TIA; Al
was bid for the preferred stock of the COM
pany, but none was offered at less than %.
Ten shares of the stock of the Washing
ton Loan and Trust Company were sold at
30. and that seemed to satisfy the de-
mand. and the further bid price for ten
shares was 200 The stock was offered at
212. Union Trust and Storage stock was
sold, ex-dividend at 105as. which was the
asking price The closing bid was 105.
The best bid that could be obtained for
the National Union Fire Insurance stock
was Ga. The stock was offered at Ga, but
there was no trading
There was only half point between the
bid and asking price of gas stock and in
the case Of eleven shares less than that as
that lot was offered at 57A. The bid for
quotation lots was 81 and the asking price
was 57h. There We're no sales.
A number of fractional lots of Mergen-
thaler was sold at prices ranging from
176as to III. The stock was freely offered
at 176A and one lot went for that and an
other lot at an eighth less. Fifty shares
were offered at 1769s without takers. There
was as little disposition to trade In this
stock as in any of the others on the list
and neither buyers nor sellers were In evil
dence.