Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-09-24
BA N K r q M O R
DENIAL OF SToKY OF SALE OF
CITIZENS BANK.
Proposition Made for New York Inves-
tors, but No Deal Yet Con-
summated.

A rumor prevailed very generally in bust
ness circles today that a controlling inter-
est in the Citizens National Bank had been
sold. 1t Is stated. however, on the part Of
those who are IN a position to know the
facts that no deal of this description has
been contaminated. This story was espe-
cially prevalent on the stock exchange at
the regular meeting today. Very little
business was done. and the usual call was
not accompanied by any large amouat of
business. What was done was not ini-
portant. and the session was comparatively
brief. This was not due. however, 10 the
fact that the members were so interested
in the alleged bank deal that they could
not attend to business. as that item of news
was only part of the interchange which
is usual at these daily meetings.
Following so closely as 1t does on the COM
pletion of the deal by which the control of
the Traders Bank passed into other hands
the revival Of this story in regard to the
Citizens Bank aroused considerable inter-
est. 1t was recalled that 1t was generally
supposed when the Traders Bank deal went
through that an effort had been made to
buy the Citizens Bank and, that failing, the
other institution was secured. 1t was stat
ed at that time that agreement was not
reached in regard to the price. Now, how
ever, it is rumored that the negotiations
have been renewed and that practically
through the same parties.
1t is said, however, the proposed pur-
chasers are not the same as those who
now control the Traders Bank and that
there is no idea in securing the Citizens
Bank to consolidate the two. On the con-
trary, 1t Is claimed that those who are I'M
derstood to have made a proposition for
the purchase of the Citizens Bank are in
no way associated with those who own the
traders Bank. The latter are believed to
De investors who live in and about Boston
and whose object In buying the bank was to
secure an investment for their money Now
IL is believed that the alleged proposition to
buy the Citizens Bank comes from the
same class of people. but they are under
stood to be residents in and about New
York.
Speaks Well for Washington.
1t is thought the circumstances speak
well for the banking institutions of this city
that outside capital to the extent that has
been the case. and promises to be, finds
local banking institutions sufficiently invit-
ing as an investment to put their money in
them and rely upon the regular sources of
panking business for profitable return
upon the money.
1t is, of course, not known what was the
figure named in the proposition which it is
stated was made to the Citizens Bank for
the purchase of a controlling interest in the
capital stock, but the sum of $275 per share
has been mentioned as likely to be the fig
bank, Mr.. Frederick c. Stevens, is at pres
ent out of the city and at his country place
in New York state, but he is represented
here by Captain Moore, the vice president
of the bank. who has been associated with
Mr.. Stevens for some time past in the bank
ing business, and who was with him before
the West End Bank bought the Citizens
and consolidated those two institutions.