Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-08
LOCAL FINANCIAL NEWS.


the controller OF the currency which ID
designed to place all Incorporated banking
institutions in the District under the SUPER
vision of the Treasury Department. An au-
thority of this sort as is well known. 10
extended over the national banks. and the
movement to provide some form of puolic
inspection for banking institutions other
than national banks was quite recently
given an impetus when a hearing was held
at the District building
The opinion of the representatives of the
savings banks. which will be the institu-
tons affected, as expressed at this hearing
was in favor of change in the present
conditions. AS result, Commissioner Mac
farland asked the controller of the cur
rency to frame a bill. which is now being
done. The increase in the number of saw
ings banks. as well as the increase in the
deposits of those institutions, has been one
OF the marked phases of the late financial
development of this city. There are one
or two which have deposits which aggre-
banks have come to occupy more impor-
tant place in the business life of the Dis
trict than ever before
The stockholders of the Union Savings
Bank held their annual meeting at Har-
pers Ferry. w. Va, Saturday last and re-
elected the old directors. They also voted
TO increase the number of directors from
eleven to fifteen. and to increase the stock
of the bank from $4,000 to 100000.
The directors reelected were as follows:
George H. Harries. l. G. Kimball, Wilton
j. Lambert, A. NJ Lothrop, Theo w. Noyes,
E. Quincy Smith, j. II. Ralston, John b.
Sleman, jr., F. II. Smith. E. N. Waters, s.
w. Woodward.
Over two hundred shares of Mergenthaler
were traded In at tOdayS meeting of the
stock exchange about One-half during the
call and the balance at the after call
The selling proved to be better than the
buying, and the prices went from the lowest
selling figure of Saturday, about one and
three-quarters of a point, still lower, The
stock was offered at first at go and then
down to 1891, but for some time no bid of
any sort was made. Finally 1919 was bid,
which elected a prompt response of sold, +"
and the bid was not repeated. but con-
tinued on a declining scale to 1914, which
was the closing bid. The asking price was
then 1917.
There was no stock sold less than 1871.
bid of S1a was made for the rights. but
the lowest offering was GA.
There was good deal of trading in Lans-
ION, but it was confined mainly to two
brokers, who dealt in 5oO-share lots as well
as in quotation lots.
There were sales at 1917 and 1875. but the
bulk of the transactions was at IA. At the
close that was the bid and the asking price
was 141s. There seemed to be stock foc
sale at that figure outside of the two
VINO were DONG the truQlHS. nor, on the
other hand, were there any purchasers at
the asked price. Saturday TIE closing bid
was 1875 and IA was asked
There was no trading in gas stock The
level of Saturdays lid G1A, was taken at
the start and the stock was offered at 81
and that was the asking price at the close
with the bid a 81.
The aggregate of the sales of the bonds
of the Washington Railway and Electric
Company was large, as compared with re-
cent transactions in that security. OF the
SO, 900 traded in all but 81 900 sold at S9k.
the balance in four lots going for 1895 and
S9A
Although most of the bonds were bought
by broker and sold by one broker the
seller outstayed the buyer, the bonds at
the close were still to be had at S97s The
bid then was S0A
A bid of 93% was made for an option on
one hundred shares of the preferred stock
of the Washington Railway and Electric
Company. There was none for sale at less
than "a.
The bid for the stock rose to 93A, but
there was no stock offered less than 93Ia
At the close the bid was %.
For an option on the common stock 36A
was bid. The bid for fifty shares or a
quotation lot, did not go beyond 36A. but
for block of five thousand shares 361a
was bid At the close the asking price
was 36as and 36ls was bid