Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-11-17
LOCAL FINANCIAL NEWS.

Changes In banks of various kinds still
form the staple of the talk In local finan-
cial circles. A further contribution was
made to the general stock of information
today at the meeting of the stock ex--
change. when Mr.. Glover, the president of
Riggs Bank. referred to the publication in
this column yesterday of the current Cos
sip to the effect that melon was expected
to be cut for the benefit of Riggs Bank
stockholders.
With that characteristic snap of his
square Jaws which always accompanies any
statement that he wishes to make emphatic,
Mr.. Glover declared that there was not
word of truth in the stories.
This statement was given that respectful
consideration which would naturally be ex-
pected from a group of local financiers
when the president of the principal bank in
the place sees fit to make a statement about
the affairs OF the bank. Mr.. Glover. how
ever, did not go Into details, but was sat
tsfied with the nature OF this denial
Nothing developed In the call that would
throw any further light on this matter, ana
nothing more was said. The same could
not be asserted in regard to the stocks OF
other banks on the list. In fact, 1t may be
said that the course of the trading. while
not OF much consequence as Tar as the
amount of the trades were concerned might
be looked upon as OF considerable signln-
to be going on.
The bid for the stock of the Second Ma
tional Bank advanced from TO, which was
bid yesterday, to $50, bat there was none to
be had at that price except five shares, ana
then the bid was repeated. There was no
offering under 1856
Ten shares of Lincoln Bank were offered
for 1874 and were taken, which was three
points in advance of yesterdays bid. There
was still further offering at 1874 but the
bid did not go beyond 1917.
A couple of ten-share lots of American
National sold for 1S9 and 1891.
There are those who group these three IN
situations together as on the ground that
they are approaching a point where their
interests will be intimately connected Ac-
cording to the belief of some there is to be
a merging of the two downtown banks with
controlling some substantial interest
In the new organization on the part of the
uptown bank.
Gas stock was about the only one on the
list that observed the method In quotations
that was followed in the imitation offtciai
stock list that served for a menu at the
annual dinner. The bid and asking price
was only an eighth of a point apart and
yet no one availed himself OF the prlvi-
lege accorded under the rule and quoted IN
the banquet menu OF trading with himself
on that basis, and certainly there was not
much effort made on the part of any one
to trade with others.
The only possible echo of the prevailing
gossip of which Riggs Bank Is the center,
or perhaps It would be more correct to say
was the center piece to today's declaration
made by Mr.. Glover, was the bid for the
stock of the Bank of Washington of 51O.
However the bid has been higher than that
on recent days, and so there is not much
Importance to be attached to the change In
the figures. fer that was all that was done,
as no stock was sold although some was
to be had at 525.