Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-12-26
LOCAL FINANCIAL NEWS.

of the American Graphophone Company, TO
be held next month, the stockholders, ac-
cording to a circular just issued, are to be
asked to vote on proposition to increase
the capital stock from s5,000,0 900 to $1,000
Co., and to change the par value OF the
shares of the capital stock from $40 10 WV.
The increased stock is to consist or vooVo
shares OF common stock of the par Falue
of $1O0, or that the capital stock VIII
henceforth be s2,500.OO0 Of preferred stock
and s7,50000O Of common stock. The d.
rectors are also to be given the power 10
sell below par the whole or any part OF
the authorized common stock remaining
unsold, including the proposed new issue.
The board of directors is to be Increased
from fourteen to seventeen, III the Stock
holders SO direct.
The purpose of the increase in the STOCK
Is stated In the circular to be the contin-
ued rapid growth of the business ana
1.-THE constantly increasing demand for its
output makes a further increase of capisai
desirable
At the annual meeting of the stockholders
of the National Metropolitan Fire Insurance
Company today directors were chosen as
follows: w. H. Hoeke, Sam Cross, Ed
ward F. Droop. William A. Gordon, WI
liam F. Mattingiy c. F. Norment. Edward
H. Droop, George C. Hennng and 2. v
De Graw.
The organizing OF club which might be
called downtown club, business men SIN
called downtown club, business mems
club, or a lunch club, is being discussed to
some extent by men who are interested in
such thing. 1t is rather surprising to find
out how many are interested, and. In fact,
Ii is said that no one has as yet been round
who is opposed to the idea.
AS everybody fayors 1t and there are I'M
doubleday enough men to furnish adequate
oil
nothing in the way of starting one. While
that is the case to an important extent,
still the question of a location IS funda-
mental, and that has not been found SO
easy to settle.
1t seems to be the opinion that some place
in the general locality of 14th street, north
of Pennsylvania avenue, would be the most
desirable, but suitable building has NOT
as yet been discovered, and no doubt IL
any one thinks he has what Is wanted In
that particular and would let Mr.. Edison
or Mr.. Mearns know, not only those gen
tlemen would be grateful, but the organi-
zaton of the club would be fastened
What is wanted is a place where men can
meet their business acquaintance during
the day and also where they would be sure
to get lunch decently and promptly
served and at a reasonable price
The biliousness of the aftermath OF
Christmas was not in evidence at today's
meeting of the stock exchange. The brok-
ers were cheerful enough, as If what they
had eaten in celebration of Christmas had
agreed with them, and that they had PAID
the bills. The brokers were all right, but
they had few orders, and that was the
main reason so little was done in the way
of business
The announcement made to the stockhold-
ers of the Graphophone Company of the pro-
posed increase in the capital stock of that
company served, no doubt, to give rise to
the trading in that stock. The common
stock which is to receive the entire in
crease sold off 81 Chilly from the last prices
quoted, and went down to AS, which is,
however less than half a po mt below the
bid price of Saturday. The preferred stock
sold from to SIS.
The bid for Mergenthaer ran up to 1917,
and at one time il looked as If there might
be some trading, which, however, was not
realized.
Lanston sold down to 141s, which is
somewhat lower level than that which has
been current for several days past.
An advance was made in the bid for the
stock of the Columbia National Bank of
some 10 points, but it did not make any
difference, as there was none offered at any
price. A further advance of five points
was made for fractional lot with the same
result
The bidding up of this stock, of which
there is but very little on the market, is
attributed on the part of some to plans
which may be in mind to enlarge the scope
Of the business of the bank, providing it
can be done through some changes in the
stock holdings.