Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-04-14
LOCAL rnArc1Ar NEWS

The Suggestion that originated in New
York Of the adyisahality Of constituting the
National City Bank q sort OF central bank.
in which number OF banks would be In
terested. was discussed to some extent to-
day by local dnanciers. The idea Is not
q new one by any means. al those who are
familiar with the purposes OF ths manage
nenf Of the National City Bank believe
that It - the aim to make that Institution
the principal bank In the country.
This wxs to be accomplished not merely
by gathering the largest total OF deposits
of any other bank, as that was done some
time ago, but by making II the nucleus OF
bringing together such an aggregation OF
the banking capital and influence or the
country as to exercise what would be q
controlling force, especially along certain
lines.
At the present time the fluctuations of the
money market is pointed to as furnishing
an opportunity for the exercise OF whole
some influence by a bank of that sort Has-
ing the control of a good part OF the money
available for current uses, Its disposition
could be regulated, 1t Is argued. that
money pancs would be avoided. or at least
the present liability to them
There would be no change in the rate OF
money. but the making of loans would be
determined by the bank. but il a loan, was
made then the interest rate would be uni
form.
The advantages of system of centraliz-
ing the money of the country and doing
away with the opportunity now afforded OF
creating money scare for the purpose Of
Affecting the market, which might be emu
merated. does not blind careful observers
to the possibilities OF danger from placing
such an immense power In the hands of q
few men.
While this Is a very obvious objection to
such a banking institution, just as II was
In the days of the old United States Bank,
still it is looked upon as none the less we'll
grounded.
The proceedings of the stock exchange
| TO-DAY were not of very important char
acter, as it was evident there was not much
in the way Of orders ter fill, and what was
done was more In the way of by-play among
the brokers than any serious business.
Gas stock was traded in ex-dividend.
which amounts to 30 cents per share. The
bid, advance. however. was within three
eighths of the bid of Thursday, so that
there was an actual advance OF an eighth
OF point as compared with the figures of
yesterday.
The officials of the gas company as we'll
as Of the street railway companies and OF
ether corporations doing business of that
character in the District, would like very
much If the statements of recent orator
in the House OF Representatives Were true
and that corporations here did not pay
taxes. The fact Is that the tax amounts TO
. per cent upon tHeH BIOsS IeteiptS III couic
cases, and the exact amount of money re-
ceived each year has to be put In a sworn
statement and sent to the District office.
am upon that statement the tax Is levied.
When the average corporation gives up 3
cents out of every dollar 1t takes in in order
to pay one kind of tax then 1t appears,
at least to the management. that it is en-
titled to some sort Of place In the pro-
cession of the taxpayers of the District on
the occasion of any public demonstration in
Congress
Today's Government Receipts.
National bank notes received today for
redemption, S786.776. Government receipts: