Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-04-16
LOCAL FINANCIAL NEWS.

The advance In prices In the New YORK
market attributed to the action of the
Treasury Department in placing public
funds In the banks was not reflected In the
trading at today's meeting of the local
stock exchange. The predicted bull market
appears to have started fairly In. az far as
the general market is concerned. but locally
the same condition prevails that has existed
for some weeks
There was nothing in the trading today of
general interest, and in fact what was done
was confined to a few brokers. and there
was nothing general In the buying and
selling.
what was done in Washington Railway
stocks. and they remained on about the
same level, and. while there was no great
anxiety to buy, there was none to sell.
The common stock made a better showing
in the figures quoted than did the pre-
ferred stock
Owing to the near approach of the SEMI
annual dividend period there is good deal
of speculation as to why the preferred stock
does not reflect that fact by any advance.
A theory has been started that perhaps the
general talk that is said to have taken
place in the committees of Congress to the
effect that the railways are not taxed suf-
ficiently has something to do with the pres
ent condition.
1t is not known, of course, what sort OF
legislation is going to be enacted, but any
thing like that Is likely to effect the net
earning power of any corporation Is apt TO
influence in one way or the other marhet
standing of the securities On the other
hand 1t is possible that such talk may nave
been started for the purpose of market
effect, as is claimed is done in the caseof
the gas company
of legislation harmful to the interests OF
the latter corporation, at least from the
poinpt Of view of speculator and investor
in the stock. Some question, 1t Is claimed,
has arisen as to the price PAID per lamp
for the lighting OF the city streets. and
naturally Nhe aim Is supposed to De to re-
duee the present rate, and therefore the
gross receipts of the company.
In neither ease, according to the general
knowledge has any steps been taken OF a
positive nature, but 1t is all merely vague
talk based to some extent on the assertions
Of individual members of the legislative COM
mittees. The presence of Congress and
what that body might do or fail to do has
always been useful as a stock market buga-
boo, and it seems that 1t still apparently
has considerable vitality.
In regard to the contributions which DIS
trict corporations of various kinds pay to
the District it Is Interesting to note that
for the past two years or since the per-
sonal tax law went into force the taxes paid
by corporations have been at the following
rates: National and Incorporated banks
and trust companies, per cent per year on
the gross earnings: gas company, . per
cent; electric lighting company and tele-
phone company. 4 per cent and street rail-
way companies. per cent.
In addition. of course. each one of these
corporations pays the usual tax on the real
estate which may be held.
The orgauiza ton OF the Citizens Savings
Bank is being perfected. with the purpose
of opening the doors of the new institution
for business on the first of the coming
month. The capital stock is $l00Ooo, ana
the officers will be headed by Mr.. James A.
Sample as president.
No location for the banking house has as
vet been selected. but site somewhere in
the section between 18th and 10Th streets
and not farther north than New York ave-
nue. is what those interested in the new
concern Wouid prefer.