Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-06-29

ket situation is attributed by the Wal
Street Journal to the fact that Il does moi
Include the operations OF the trust COM
ranies. as the latter are not members of
the clearing house. A partial remedy is
suggested by having the weekly statements
show the amount OF deposits due other
banks and due trust companies instead ot
Jumping these with individual deposits in
one sum-
The prospect Of the clearing house." 1t
Is stated. making any such changes as
these In the bank statements does not
however. appear very bright. While the
public and investor are continually
handing a larger measure of publicity tie
banks themselves. as a rule. are strug-
CLING against IL. When our two leading
banks. by tricks OF bookkeeping in the
statements which they were obliged to adj
vertise from time to time. manipulate the
reports of deposits so to conceal the
amounts due to trust companies II GER
tatnly does not appear very likely that the
clearing house will institute a speedy re-
form in the matter OF their weekly state
ments Sooner or later. however. the de-
nand for this reasonable publicity wai be
too strong to be rssisted."i - tls'--
When the bank stocks were reached in
the call at the meeting of the stock ex-
change today a broker OFFERED for sale rf-
teen shares Of Bank of Washington stock
at 40. He sold 1t at that fgure. and then
he began buying all the stock that was Of
fered, and at the close he had purchased
40 shares at prices ranging from 439 to
500
One hundred shares were offered at 400
and another 100 were offered at the same
time at 500. He took them both. and then
bid 800 for another 100 shares There was
practically no stock for sale. If there had
been the broker who was the purchaser all
along was evidently prepared to take It.
AT tn, close of the trading the bid was
425 and the asking price 525. Yesterday the
bid was 400 and the asking price 439. 1t IL
seldom the stock of this bank figures In the
daily transactions OF the exchange. and the
purchase OF such block naturally created
considerable comment. The capital OF the
bank consists OF 1000 shares The dividend
paid Is 1o per cent annually.
Attention was called after the trading
was over In the Bank OF Washington
stock to the absence of the usual mark
which is attached to stocks posted on the
board Of the exchange for the period dur
ing which the books are closed for the pur-
pose of paying dividends. The secretary
Mr.. Thomas l.. Hume. stated that no noti-
fcatfon had been received from the bank
officials announcing the payment OF the
dividend. and under the rules the stock
could not be starred ex-dlvidend. The stock
of only one bank in the entire list had
star. although in the case of a large number
of the banks dividends for the half year
are paid July !.
In reply to an inquiry the president OF
the exchange. Mr.. Charles p. Williams
said that under the rules of the exchange
the bank stock just sold would not be
dividend The purchaser of the stock u.s.
therefore. entitled to the half-yearly div
idend on the stock and the loss will fall
on the stakeholder who when stock is sold
ex-dividend recelves the semi-annual pay
ment
The best bid on Mergenthaler during tho
call was 173h, while the asking price was
174k. After call the bid advanced to 173A,
and by gradual advance of an eighth of a
point. the last bid was ia. Four ten-shars
lots were sold at each of these stages with
the exception of 1731s. when two lots were
secured.