Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-12-10
LOCAL FINANCIAL NEWS.

Some interesting tables have been COM
piled by the Wall Street Journal from the
statements made by the national banks to
the controller OF the currency, which show
the character OF the loans made by these
Institutions. A comparison based on these
figures shows that during the past year
there has been an increase OF over twenty
three millions in security or collateral
| loans. while in commercial loans. which
are mainly based on individual or firm
notes, the gain is 16S millions. In New York
city for the same period there was an
tual loss in security loans, while the gain
was In the amount of the commercial loans.
The increase in security loans for the
tire country during the period between 1897
and 1901 is attributed to the growth of spec
uiation and promotion which was notable
at that time. In spite of the large increase
| IN the percentage of bank deposits used for
loans on securities, the banks have emerged.
as the Secretary of the Treasury states
without showing any signs Of weakness
1t Is important and reassuring" adds the
Journal Ito know that the security loans
| H the banks are assuming a more normal
proportion to the total loans, for this indi-
Gates a desire on the part of the directors
OF these institutions to hold their course
strictly to the line of their special duty.
rms does not imply, of course, that they
should stop altogether loaning money upon
such securities. AS matter of fact many
mercantile businesses obtain credits upon
their holdings of stocks and bonds. The
punt is maue tflat nat1Onaf banks as COM
mercial banks should keep the security
side of their business strictly subordinate.
leaving to the trust companies and private
bankers the main burden of supplying the
credit necessities of the specula tors invest
orS and promoters and underwriters line
of business which their organization spe-
cially fits them for
Some interest was shown in the list of
fire insurance stocks today at the meet
ing OF the exchange. which is rather I'M
usual. as on most days the quotations
are recorded without interruption caused
by trading
Sixty shares of Riggs Fire Insurance
Company were offered for sale and sold
to the highest bidder for So while %
shares Of Arlington brought 81. A bid of
ga for 30 shares of Peoples was made
but no stock was for sale at that figure
rather light record. that is of recent
days. was made in limited sales of Capital
Traction stock. as two lots comprising re-
spectively. twenty and three shares brought
lS5a4. The stock was offered at 124, but
there were no buyers at that figure.
The market for Washington Railway pre-
ferred stock also somewhat animated
and rs result the quotations advanced
Forty shares. in two lots were sold OF 4OIa
and fifty shares at 40s and then at 4Os.
and then an eighth lower, while 40is was
bid.
Seventy-one and one-half was bid for the
bonds of this company, and one $500 bond
was sold for -
An offer to sell four shares of Washing
ton Loan and Trust Company at 205 was
made. without being taken, as was also
seven shares of Riggs Bank at $50 The
highest bid for the latter was 575 There
were seven shares of Farmers and Mechan-
les Bank sold for 316, an advance over the
last recorded bid price of SIG on the share
The usual bid of 100 for Lincoln Bank
stock was made. but it was promptly ac-
cepted, and ten shares sold. After call a
bid of l2s was made for the stock without
result.
Eight shares of telephone stock were of.
fered at 4oA. but the highest bid was 36M
and there was no trading DONE pur-
chaser appeared for Georgetown gas and
offered 20 and then advanced to Il for ten
shares. but no one Sold The bid price for
twenty-five shares is g.
There was some sparring over Mersen-
thaler in the way of bidding, the range be-
ing between 1S4 and 1S5, with slight differ
ences between the asking and bid price
One quotation lot OF 10 shares went for
lS4a4 and two small lots for 1876 and 1S4L,
The price is, of course. affected by the an
proach of the date for the payment of the
extra dividend of per cent.
small lot of Lanston stock brought g
but the bid for 100 shares was 7S and the
offering was s. There was no further trad.
ing done.