Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-11-13
LOCAL FINANCIAL NEWS.

According to one of the current rumors
another OF the local banks intends to en-
large its capital. The one mentioned 10
the Bank OF Washington, which proposes
according to what is commonly reported,
to enlarge its present capitalization of $1D1.-
GOO so as to bring 1t up to half million
In the event this il DONE 1t Will be the
third OF the national banks In this city to
Join the ranks OF the haIf-miIiion dollar
class. There are two now in a higher
class. one with q million capital and the
other within SDo.o00 Of that mark. In the
case of the latter it il expected that the
million dollar mark Will be reached In the
course OF the next few months
1t Is probable that there will be another
institution with q million capital to Join the
ranks before long, which, however. VIII be
brought about by the combination OF two Of
the existing banks. At the present time.
including the probable changes in institu-
tions and. in capitalization OF the Twelve
national banks there are three with a capt.
tai of a half million and two with a capt.
tai OF million or more than half a million.
The need for enlarged capital has only
been manifest within the past few years,
as prior to 1908 there was only one bank in
the city that had a capital of half million.
All the changes above outlined have taken
place within that brief period and 1t seems
likely from present indications that the
near future will witness number OF others
1t Is understood that plan is being given
some consideration for separating the stor-
age department of the American Security
and Trust Co. from the banking department
by turning the former over to company
to be organized for that purpose, the di-
rection being unchanged. The interests of
the present company will be represented by
stock In the new concern, certain portion
of which is to be distributed to the stock
holders of the parent company.
The plan has not as yet been formally
acted upon and it is not known that 1t will
be carried out, but thus far. according to
that has been proposed for the considera-
t1on or the directors of the company.
The condition at today's session OF the
stock exchange was. generally speaking.
that there was more stock for sale than
there was a demand. In some instances
slight concessions were made in the prices
with the view of inducing trading, but that
had little effect
1t brought about some trading In the case
OF the preferred and the common stocks of
the Washington Railway and Electric Com
pany, the former selling on range of from
S31s to 1874, and the latter from 42h to 417s
The most active trading was in the bank
stock list, which seSI1s to continue to alb
sorb the main interest Of brokers. One of
shares of American Bank stock on q range
of from 1855 to 1s5. which il about the
level of that of recent days.
The bid for Lincoln Bank was resumed
OF the basis Of the last days record and
was met rather promptly with the response
OF sold but the buyer was not deferred
and continued bidding until he got all there
was at 40. and as far as any one knows
All that there was on the market for there
was no more stock offered at any price
Two lots of Second National Bank stock.
making in all twenty-five shares, were Of
fered for $50, but the bid did not rise above
11e. which is some ten points less than the
highest selling range Of recent days.
Gas stock was to be had in fairly good
quantities at COZ. but the bid did not quite
come up to that level, and as there were no
concessions nothing was done except the
sale of one quotation lot of twenty five
shares at 60h.
There was no change of consequence made
In Lanston and the only sale was at ISL.
The bid continued at Is. with the asking
price a quarter Of a point in advance.
Today's Government Receipts.
National bank notes received today for
redemption. s1o11 .449; government re-
ceipts from internal revenue, 81, 53S So;
customs, S7s6,972: miscellaneous, 1888, ;}Ss:
n ist,