Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-03-07

The dullness Of the New York market
as shown In the dealings In the early
portion OF the day found no counterpart
at the meeting of the stock exchange to-
day, especially when the street railway
stocks were up. While the actual volume
OF trading was not large. still the de-
mand, particularly for the common stock.
was strong and we'll sustained. There
did not seem to be stock at the range Of
the bidding that was to be had: at least,
1t was not offered. The bid for options
and for calls ran up to "a. and Inquiries
for large blocks resulted In practically
no offerings. The bid for any part OF one
thousand shares rose to AN. and bids for
options on large blocks were made with
out result
For quotation lots after the trading was
over. which was on q .nge Of from 42A to
436. the bid for q quotation lot Of 90 shares
was 43 and the asking price a quarter OF
a point In advance. There appeared to be
more buyers than sellers OF this stock.
The asking price of yesterday IN the case
of the preferred stock became the bid price
of today at the close. In spite of the bet
ter figures very little stock was brought
out and the bid remained at S9ta, which
was also the bid for an option The stock
was to be had for a point in advance.
Quite a good deal was done In Capital
a point. leaving the bid at the close at
14GA, with the asking price at LAT, which
was a reversal of the asking price OF yes
teriay with the bid price of today. just as
was done In the case of the preferred stock
There was demand for the stock Of the
Bank of Washington, and as one result
the bid ran up twenty points to $50. but
fllnro M nfP In ID.
An advance was also made In the BID
for Columbia Bank stock Of ten points ana
more, but 2S01z did not tempt any holder
to even offer 1t for sale.
A further advance was made In the quo
tations for Mergenthaler, but there was no
trading In the stock. A half point increase
In the bid was made, but the lowest asking
price was three-quarters of point In ad-
vance.
The change that has been made In the
ownership of the stock of the Washington
Savings Bank which has been brought about
by the purchases of stock made on behalf
of those in control of the Union Savings
Bank resulted today at a meeting of the
directors Of the former institution In a
number of designations OF officers ana MEM
bers of the board and the filing Of the va
cancies thus caused by the choice of those
representing the new interests.
The new members of the board of d.
rectors of the Washington Savings Bank,
chosen from among the members OF the
board of directors of the Union Savings
Bank. are as follows: S. w. Woodward,
Theodore w. Noyes George H. Harrfes,
Jackson H. Ralston, NJ. NJ. Moffitt, George
o. Watson, E. Quincy Smith and 1. G. KIM
ball.
Homer Guerry and Scott Nesbitt of the
board Of directors of the Washington Saw
ings Bank were retained on the board and
Justice Thomas H. Anderson, a stakeholder
In the Washington Savings Bank, was also
elected a member of the board.
The new officers chosen were: President.
f. Quincy Smith: vice president, g. w.
Woodward and cashier, George o. Watson
representative Of New York city
bank has been in the city for some days
endeavoring to secure an interest in one of
the existing banks Of the city with the view
Of establishing a banking connection here.
Thus far the efforts In this direction have
not resulted In securing a foothold of that
character and now 1t Is announced that
an entirely new bank will be started.
The growing Importance of this city as a
financial center Is being more and more
fully recognized, and this effort is only In
line with other movements of the kind.
1t Is also understood that the project of
establishing here bank or trust company
or some sort of a financial institution
which was talked of some weeks age has
not been abandoned. but the projectors have
1t still in mind, and as soon as attention
can be given to it. 1t is stated that some
active steps will be taken toward carrying
it out.
The character of the business that is pro-
posed to be done differs somewhat from
what Is carried on now by existing fnsti-
tutions. as 1t is the Idea to go into schemes
of promotion of various kinds and under
writing and place on the market lines of
bonds and do business Of that sort with
special relation to projects in this general
section Of the country.