Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-02-19
LOCAL FINANCIAL NEWS.

A financial statistician announces as his
conclusion that only a little more than
one-thtrd Of the total stock OF money In
the United States is held by the banks
After allowing for the amount in the
United States treasury he concludes that
the balance, which reaches the tidy sum
of over billion and a half of dollars
is in circulation outside of the banks and
the treasury. accepting these figures as
representing the actual condition, he
comes to the conclusion that the habit of
boarding money and retaining 1t in In
divfdual possession still prevails to a
large extent In this country, In spite OF
the increase in the number of banks and
savings institutions and the facilities af-
forded and the inducements offered for
the intrusting money to their care.
In fact. 1t may be said that the reason
for the increase In the number of institu-
uons inviting deposits of money may be at
tributed TO this condition. It is calculated
that a good proportion of deposits In new
banks comes not from the withdrawal OF
accounts from other banks, but from peo-
pie who have been using the traditional
stocking as place of deposit OF their
earnings. There Is no doubt general
impression that nowadays the use OF banks
is practically universal, but it is evident
from the statistics given that there is stu
a respectable portion of every community
that holds aloof from this medium of keep
ing In safety surplus money.
The new street railroad system, or.
rather, line for up to this time 1T COM
sists of only one line, is to start on reg
uiar schedule some time this week, and
people who live on the Virginia side of
the Potomac river between the George
town end of the Aqueduct bridge and the
vicinity of the Great Falls will have
chance to ride to town on electric cars.
The officers of the Old Dominion and
Great Falls Company are arranging for
an early beginning of business.
A rather new feature of suburban rail-
road mana cement will be the use of tick
cts on the portion outside of the old Dfs-
trict line which is the boundary of Alex
andria county. Six tickets for quarter
are to be sold, and that three of them will
be required after passing the Alexandra
county line to ride to the Great Falls.
These tickets are designed so as to sug-
gest a connection between the north and
south by this medium, as the portrait of
Grant will appear on one side and that OF
Lee on the other, while the colors used
will be blue on one side and gray on the
other.
There is some talk that the completion of
the new highway bridge may lead to the
building of the mile or two of track that
will be necessary to bring the cars on the
Falls Church line by that route into the
city. There is also gossip in regard to the
probability of the Old Dominion Company
building branch of their present line into
Falls Church, and there are also those who
are confident that a merging of the inter-
ests of these two roads is one of the likely
events of the future
There was no change of consequence in the
situation in the local stock market as result
of the meeting held today. The disposition
to trade was just about as keen today as
has been the case for some days past.
Greene Copper was about the only stock
that showed any upward tendency In the
price, and it sold somewhat higher
level. and ex-dividend at that. The bid at
the close was half point better than the
closing bid on Saturday.