Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-11-22

| A plan for tho separation of the storage
| from the banking business OF the American
Security and Trust Company has been APP
proved by the board OF directors OF the
company upon the recommendation OF the
executive committee and will be submitted
for the approval Of the stockholders at the
annual meeting In January.
As the principal stockholders have given
their consent to the plan. there Is no doubt
partment of the company. located at 11i0
10th street. will be under the manage
ment OF a company that will be known as
board Of directors chosen from the mem
bers of the board Of directors Of the Ameri-
can Security and Trust Company. 80 that
the management viii remain unchanged.
The capital stock of the new company will
be 100000. OF which $3.50. 900 will be held
by the parent company and the balance OF
Size. 600 will be allotted to the stockholders
OF the American Security and Trust Com
psny at par. As there has already been
offered for the new stock S120 per share. the
privilege of subscription which will be
given to the stockholders of the trust com
ira dividend.
It is likely that the stock OF the new COM
pany will be listed on the exchange, where
N yet there 10 no stock OF q company that
Is specially devoted to this class of business
Another company Is about to be formed, or
rather one has been organized with Mr.
Justice Brewer of the Supreme Court of the
United States as the president. 1t is known
as the Fidelity Storage Company. A build
Ing for Its use IL being erected on the south
side of u street between 14th and 18TH
streets and will be completed, 1t is expect
ed early the coming winter.
Mr.. James L. Karrick is putting up this
structure, which Is nine stories In height
and is built of brick an dsteel and cement.
The exterior walls are Of brick. while the
beams and Orders are of cement reinforced
with steel. The building will have about
one thousand rooms for the storage of
goods OF every description.
There has been some suggestion that per-
haps there might be an effort made to bring
together q number of the storage companies
into one concern, but as far as known moth
Ing has been done except to make the sug-
gestfon in a Very general way.
There was nothing done on the stock ex-
change that made the meeting today any
different from the ones that have been held
for the past week or so, or since the bust
ness has fallen off to such an extent that It
Is difficult for even an expert to find much
OF II left.
There is one feature of the situation that
is consoilng and that Is while there seems
to be lack Of buyers. there Is also lack
of sellers. SO that the market remains sta
ionary and at the same time prices con-
tinue firm. In this respect the Washington
market possesses, no doubt. a unique
feature.
In one particular the situation today was
somewhat remarkable. as 1t will 60 into
record as one day for some time past that
has not had fresh bank rumor. The In
genutty even Of guessing has been exhaust
ed. as well as also that practically every
thing has happened to the banks In the
way OF expansions aud combination and
community OF interests that seems possible
for the time at least.
Today's Government Receipts.
National bank notes received today for
redemption. $76O.220: government receipts
from internal revenue, 1895, $40: customs.
$1.297 .s45: miscellaneous. $3s. 444; expendi-
lures 81 $50 600