Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-06-17
LOCAL FINANCIAL NEWS.

A handsome stock dividend has been re-
ceived by the stockholders Of the Central
National Bank in consequence of the recent
increase in the capital stock from S2O,0tO
to $4,000. 1t Is stated that 1000 shares
Of the new stock has been allotted to the
stockholders at par. on the basis Of one
share of the new stock to every two shares
of the old stock. 1t Is thought that the
market price of the stock when listed VIII
be $3.50 per share, and in that event tbs
profit to each stakeholder will be $50 on
each share Of assigned stock.
1t is stated that 1900 shares Of the new
stock was sold to a syndicate composed OF
men who are identified with Riggs Ma
tional Bank. and the price paid was $50
per share. In this way an addition to the
surplus will be made Of S1OO,OOO. which win
give the surplus and undivided profits an
aggregate Of $261. 200. Il s-f.-
:. At the last meeting of the Washington
Chapter Of the Institute of Bank Clerks
an interesting sketch was given by Mr..
George w. White the cashier of the Com
mercial National Bank on the Panama
canal and the Importance of this under
taking to the commerce of the world.
In the course Of the paper 1t was Incl
dentally stated by the speaker that he I'M
derstood the republic of Panama had adopt
ed as it's national air the song entitled Il
Got White Man Working for Me-" ,.
There Is quite a demand for seats on the
exchange. as those who made applications
under the recent plan which was not car
rfed out would like to secure a membership,
even If they have to pay more than $500.
which Vas the price fixed for the seats to
be sold by the exchange in case the entire
stipulated number of ten could be sold.
The money on deposit in the trust COM
panies and national banks of the city on
the 10Th of last month. the date of the con-
troller's call, as compared with the CORE
spending period of last year, shows an in
crease of So. So, 3O8.
The dealing in Lanston was not eager
at tOdays meeting of the stock exchange
as has been the case for the past day or so.
w nile the stock was bought on somewhat
lower level than was possible yesterday, yet
the decline was not more than an eighth Of
a point.
There was no stock to be had yesterday
less than 171s. while today nearly one-haIf
OF the entire sales went at IT. The
total of today's trading was about 100
shares. and that included one 50O-share lot,
for which 171s was paid
The stock was offered freely at 17h, and
at one time there were 800 shares for sale
on that level. The bid, however. did not
go beyond II. and at the close that was
COutiHUeu anu was asked.
On account of the speculation that Is in
this stock, well as for other reasons,
there are generally indications of the inter-
est which the general public takes in 1t
when any movement is in progress
Today. in spite Of the sultry heat of the
room. the space set apart for spectators
was fully occupied AS soon as Lanston
had been passed in the call the crowd scut-
tied out rapidly
National Safe Deposit stock was for sale
and at the outset the bid was on the same
level that has prevailed for some time
past, namely, 1872. However, it was not
until an advance of half a point was made
in the bid that ten shares were secured.
Then another lot went at 1881 and finally
an advance in the bid was made, and be-
fore the trading ceased the stock was SELL
ing at 100.
Some 100 shares In all were dealt in. and
the principal buyer expressed his willingness
Fifty shares were offered at 200 and ten
were to be had at the same price, but there
was no further trading.
Some forty shares comprised the trading
in Mer2anthaler. the prices ranging from
1S5 to 1856. At the close 1856 was bid and
1851 was asked.
There was but little interest taken in the
street railway securities. $1,000 of the
Washington Railway and Electric Com
pany's bonds were sold for SSA and that
was still bid and 50 was asked
A couple of lots of the common stock
sold for 34A and 3424. The bid was then
34S. and 35h was asked.
A bid of 93H for the per cent bonds Of
the Bristol Light and Railway Company
secured bond. The bid then fell Il
point lower and another bond was sold.
Then the bid dropped still another point,
but there was more offered less than 93.
The hot weather has set the brokers talk
ing about the Saturday holiday which
usually begins the first of July and is con-
tinued until the first of September.