Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-06-01

state bank superintendent. The principal
criticism of the present relations in that
state OF state banks and trust companies
Is that while the latter does banking
business well that for which they
were specially organized they are not sub
ject to the rather strict requirements of
the banking laws and the supervision of
state officials.
In this District the situation is quite
different the trust companies are sub
ject to the same supervision as national
banks. They are included in the list when-
the controller of the currency makes a
call the national banks and are also
subject to examination by the government.
There Is no antagonism between the two
classes of Institutions here as seems to be
the case in New York state. although TO
some extent the same class OF business IL
done by both. To the existence here or
these two varieties of financial institutions
Is no doubt due the comparatively recent
Introduction OF the practice on the part
of some of the national. banks In paying
interest on certain kinds of deposits. This
change in banking customs here Is believed
to have been brought about by the need
felt on the part of the banks to meet the
competition in this particular of the trust
compan MES
The general relations however. which
exist between the two classes of institu-
lions are doubt sufficiently Indicated
by the fact that they associate In or
ganization known as the Washington Bank
ers' Association. the objects of which are
largely to promote acquaintance among
the members.
A call has been issued for the payment OF
the first instalment of the capital stock
of the recently organized Merchants and
Mechanics Savings Bank. The total cap
ftal Is $4,000 and the amount called for is
% per cent of each share. the par value OF
which is $40. The payments are to be made
to Robert N. Harper, the president OF the
American National Bank who is the tenn
porary treasurer.
Washington railway bonds were dealt in
today at the meeting of the stock exchange
with the knowledge that the semi-annual
per cent interest coupons. due June 1. were
not included as a part of the bonds. The
change in the quotations about represented
the value of the coupon. with a slight adj
vance. however, as compared with yester-
days figures. During the call 752s was bid,
while the asking price was I5ts After call
the bonds were offered at 1JLa. and sales
were made at that figure. Then 75h was
bid for large or small quantities. and the
bonds were offered at 75S. There was.
however. no further trading.
The Washington Railway preferred stock
also reached a higher level, although only
two lots sold. A quotation lot of leo
shares brought 55& Yesterday the stock
was offered at o5k During the call o5Is was
bid and the asking price was 557s After
call the bid price advanced to 55ss and the
asking price was 55A.
certificates and in telephone bonds. One
thousand dollars of the certificates were
sold for III, while the asking price at the
close was 111A with 11G7s bid.
One hundred and four and five-eighths
was bid for telephone bonds. while yester-
day 104A was bid. The asking price re-
manned the same, at 105ie.
There was but little interest shown in
Mergenthaler and the bid did not advance
beyond Tin.
A bid of 8 secured 100 shares of Lanston.
Then the bid became ~. with 81 offered.
There has been quite falling off appar-
ertly in the interest taken in Graphophono
stock. which is generally attributed to the
recent announcement proposing increase
in the capital stock. There was no bid
made for the common stock today and the
asking price was f. For the preferred a
record was made of 81 bid and 81 offered.
A broker offered for sale ten shares OF
Washington and Norfolk Steamboat stock.
He bid go for IT. and with others bidding
the figures ran up to 235. This was the bid
OF the broker who offered the stock and he
bought 1T at that price.
Today's Government Receipts.
National bank notes received today for
redemption. S764, 652. Government receipts:
From internal revenue. S1s2 1916; customs
$5S2, I95; miscellaneous. S151, 10f. Expendi-
lures, S1.G00.0C0. Available cash balance,
s163. 2S7 ,515.S2.