Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-02-21
LOCAL FINANCIAL NEWS.

The bidding up of the stocks OF two OF
the local fire insurance companies on the
exchange has revived the talk which Is
heard now and then about bringing to-
gether of a number OF those local concerns
and the formation of one company with
large capital There does not seem TO be
anything very substantial for such gossip.
except, perhaps, that the companies had
very good year last year and the prospects
for continuance of a paying business are
favorable.
On this account 1t may be considered that
1t Is good time for seeing what can be
done In that direction. Except In very
general way, and perhaps confined almost
exclusively to the minds OF few men.
there has nothing been done toward bring
ing such a combination about
Owing to the fact that the stocks of the
companies that shared in the recent ad
vancement in prices. namely the German
American and the National Union, were the
on the list that were thus affected. Rumors
are Dating about that some plan for the
merging of these concerns is contemplated
AS far those Immediately identified with
the companies concerned. nothing is
known of anything of the sort being I'M
der way.
The capital stock of the German Ameri
can Company is 100000 and the par value
of the stock is 800, but during the past
five years the few sales recorded the
local exchange have been on range of
from S2l2 to 1910, the latter being the bid
recorded yesterday with no offerings and
$50 today. The bid that has been made
for some time past has been S240. The an
nua1 dividend is II per cent.
The company owns the building which 1t
occupies on 7th street between + and +
streets, and its surplus amounts to about
$1Sl,000
The capital stock of the National Union
Company is s1oo,0o divided into shares OF
s. each. The range of the prices paid for
this stock during the past five years on the
stock exchange is from Sl2 to 81 per snare.
The prevailing bid for the stock for some
time past has been about 81 20 Yesterday
however a couple of hundred shares sold
for IS, and the closing bid was SS.62'a. with
no stock offered. Today the bid was So"
and 50 was asked.
The annual dividend is per. cent. The
company occupies large Office building
which it erected and owns at DIS f street
It's surplus amounts to about Sl26.coo
At the first meeting of the board of direc-
tors following the annual meeting OF the
stockholders of the Chesapeake and Po-
tomac Telephone Company. which was held
at the offlce>of the company. ~ l2th street
northwest today, Mr.. Charles L. Cutler was
reelected chairman of the board or olfec-
tors, and Mr.. L. N. Bethel president OF TIE
company. -,
Mr. F. II. Bethel was advanced from the
position of general manager to that OF vice
president and Mr.. B. W. Trafford was ap-
pointed general manager.
Mr. F. II. Bethel was elected vice preSl-
dent of the Bell Telephone Company of
Philadelphia at a meeting of that company
held in Philadelphia yesterday, ana MI o.
w Trafford comes to this city to ne gen
eral manager of the Chesapeake and 20
tomac Telephone Company from Philadei-
phia where he has been general contract
agent of the Bell company in that place.
Mr. A. P. Creushaw. who. has been In the
service of the company for over twenty
seven years, was elected secretary ana
treasurer.
from nine to eleven by the stockholders.
All the members of the old board were re-
elected. and Messrs. F. H. Bethel of this
city and Gen. Thomas j. Shryock OF BaItl-
more were added to the board.
There was a fractional decline in the fig
ures for the preferred stock OF the WASH.
fngton Railway and Electric Company at
| todav's meeting of the stock exchange, as
compared with the quotations of yesterday;
The range of the transactions eNtendea
from SSa to SS1A Prices below SS3s were not
| for quotation lots. At the close the asking
price was SSss and the bid SS1s
The demand seemed to be slight one,
and was soon supplied.
| A better demand appeared to exist for the
common stock. A bid was made OF 40 for
! 5000 shares, or any part. The stock was
| not offered for less than 1915, and the bid
remained at 40ra, which was the closing bid
! of yesterday
The bonds sold fractionally higher than
| the nSUreS or yesterday Will OilS ipl an
| eighth of a point lower. There was no
change in the figures for the stock of the
Capital Traction Company, and there were
no transactions. A couple lots of the bonds
of the company went for 107.
According to the official statements of
President Bethel of the Chesapeake and Po-
tomac Telephone Company, the increase in
the business of the company will make 1t
necessary, in the Immediate future, to ex-
| tend considerably the large equipments at
| the main and north offices in this city
| 1t will also be necessary, he states, to Sc
cure the erection of large building and
| install the equipment to care for the bust
| ness in the eastern section Of the city, the
| exchange at % B street northwest having
become too small for the purpose.
A suitable lot near 9Th and B streets
northeast has been secured by the Amer
| lean Telephone and Telegraph Company,
! and arrangements have been made by
which that company will proceed with the
erection of building during the coming
year.
| Up to December 81 last the American Tel
! ephone and Telegraph Company has invest
| ed In lots and buildings in this city and in
| Baltimore, for the use of the Chesapeake
and Potomac Telephone Company, the sum
| of S9O3 SD.