Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-11-11
LOCAL FINANCIAL NEWS.

In the current gossip that Is heard In
financial circles the report is circulated with
some presidency that a plan Is under con-
sideration for removing the headquarters OF
the Union Trust and Storage Company to
the building that is to be vacated by the
American Security and Trust some time
next fail and establishing close business re-
iations between that institution and the
Commercial National Bank which occupies
,he ad1oining building. Men who are close
iy Identified with both concerns stated this
morning that there is absolutely no founda-
ton for such -rumor
Mr. Frederick c. Stevens. the president of
the Commercial Bank, goes further and
states that as far he can direct the pol
icy of the bank that 1t will continue as il
is at present, an entirely Independent in
stftution. He believes that the interests of
the stockholders and of the depositors will
be best served by carrying on the business
without entering into relations with other
institutions. either on 1.-The community OF
interests" plan or on any other plan by
which the affairs Of separate concerns are
more or less merged.
The dealings at the meeting of the stock
exchange today seemed, in the opinion OF
some, to give confirmation to the rumors
that an effort Is being made to
secure a large block of the cap
ital stock of the National Safe
today reached the 300 mark, the highest yet
attained by this stock. At the time Mr. Il.
francis Riggs purchased a large block of
the stock of this company was quoted ut
about l60 and was not in great demand.
This was some eight days ago. Ii is stated
that offers for blocks of the stock have
been made outside the exchange which are
as high as 20. There is no knowledge OF
the identity of these alleged purcha or
what the object is. ----
Yesterday $50 was bid for the stock and
$50 was asked, and today the dealings be-
gan about on the same level and a sale
made at 19l- 1t was evident there was a
disposition to buy and the bidding ran up.
The offerings were rather cautiously
made. and when a block of ten shares
was offered at 300 and promptly taken a re-
Spouse came in the shape of bid of 200
The asking price was then 205 and 2o4,
but there was no trading on the higher
levels. The bid receded somewhat. but
was again regained. and another sale was
made on the 200 level.
1t was apparent there was not much
stock for sale at these figures, and at the
close the bid was 1879 and the asking
price POI. In all lis shares were traded
In at prices ranging from 191 to 200.
There was quite furry in Lanston and
the trading became what may be term
ed exciting, at least il was as COM
pared with the usual procedure. The rush
to buy was so great that it was difficult to
make out exactly what was going on. AS
1t turned out the aggregate of the sales
was not large, comprising only some 200
shares, not including options. a good ad-
vance was made IN the price. as at tho
close the bid was IL and the offering 1874.
Yesterday the closing bid was 12A, while
IFS was the asking price. The bulk of the
sales today was made at IL. while options
sold as high as 133s
The trading in Washington Railway pre-
ferred was good and the prices ranged
from T1Is to rs. Altogether one thousand
shares were traded in. At the close the bid
was III and the asking price 17%
The common stock sold for 23ss and then
the bid was renewed on the same level.
Ua A ho rin ha
bid was withdrawn and % was substituted.
Capital Traction stock was in demand at
the higher prices that have been regained
during the past day or so; lbs was paid for
seventeen shares, and the same bid was
made for twenty-eight shares; 134N was
bid for twenty shares. but there was nona
offered under l37 ". 1900
There were no changes of consequence
made in the quotations in the list of bank
shares each of Traders Bank stock; 167
was the price paid. and their the bid was
166h. and the asking price 1874.
An advance was made in the bid for
for Metropolitan-Citizens' stock to 374h.
After call 3I5 was bid for 1000 shares Of
the latter stock.
At meeting of the directors OF the Dis
trict Title Co. yesterday. N. II. Shea and
Meyer Cohen were elected members of the
board to I'LL vacancies. The annual divi-
dend was increased from 2h to per cent.
Today's Government Receipts.
National bank notes received today for re-
demption. $742.375: government receipts
from internal revenue, 1856. go: customs.
81. 1859. 7I5: miscellaneous, So lbs; expendi-
lures. S2.5900OO.
Available cash balance, 44.2s1. J64.0s.
Washington Stock EXCHANGE