Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-11
LOCAL FINANCIAL NEWS.

The announcement made today In another
column Of the purchase for 311O.oO0 by th>
National City Bank. the new institution
which Is now being organized. of the G
street portion of the building Of the Ameri.
can Security and Trust Company. 1905 G
street. will be read with much interest by
those who have to do with the manage.
ment OF banks tn this city 1t Is recog-
nized that 1t means another competitor for
business and a general enlivening OF the
situation in financial circles.
The new bank is to have a capital Of $780,
600. and by selling the stock at a premium
plus fund of $4,000. This has been done
in the case of the last two national banks
organized here, and also in both OF those
cases a purchase was made OF banking
buildings
The Commercial Bank. which was organ
lied in October of last year. paid about
$1S0.00O for the building at the northwest
corner OF 14th and G streets. Its capital
Is now 100000, and according to the last
statement, the surplus and undivided profits
amounted to $116.741 and the deposits to
81 .566,OT6.
In the case Of the American National
the capital is now $5OO.O00, the surplus and
undivided profits $114,323 and the deposits
$l.977.697. The price paid for the build
ing 1918 F street. was s2l5.000
day an option of five hundred shares of the
preferred stock of the Washington Railway
and Electric Company was sold for Us. the
seller buying a similar block for 021z. There
were sales of two tifty-share lots at e2A
and two lots at 92h. An offer was made
to buy sell the stock at the latter figure.
which was not taken. An option, on nifty
shares was taken at 93.
At the close the bid was syn and the
asking price 93n.
Fifty shares of the common stock sold
for 3Ok and then an offer made to
buy or sell at 333s, which was not taken
The closing bid was 391s and 1895 was
asked
The bid for Columbia Bank stock was run
UP from $50. which was recorded yesterday.
to 235, by broker in competition with an
other for ten shares. There was no stock
offered for sale
The stock of the Potomac Fire Insurance
Company was wanted end better price
was bid for it, namely, 26, but there was no
stock offered for sale. During the past two
weeks this stock has advanced about point
and half.
The bid for the stock of the Commercial
Fire Insurance Company advanced half a
point compared with yesterdays bid. and
100 shares were sold at 51s. The bid was re-
newed on that level but the lowest Offering
WAS q.
Gas stock sold to the extent Of three
twenty-fve-share lots on range from G37s
to G3B and 1t was still to be had at the lat
ter figure until 1t was finally withdrawn
and u substituted. The bid at the close
was G3A.
There was not much done either in Mers
genthaler or In Lanston. A quotation lot
In each case constituted the transactions.
For the former 1881 was paid and for the
latter l5A. During the call the best bid
for Mergenthaier was 1891, while for Ian
thn ,;cxIn
A large block of the 5 per cent bonds OF
the Potomac Electric Light Company. sg-
gregating $4,000. sold for 1041z. and a
sI.000 bond went for 104A. The bid ad-
vanced to 104s. but there were none for
sale at less than 1861.
A couple of five-share lots OF Capital
Traction stock comprised the dealing in
that security. The prices paid were 146
and 145A.
Today's Government Receipts.
National bank notes received today for
redemption 81 100 3S7: government receipts