Evening star., 1906-03-15
LOCAL r1nAHcIAL NEWS.

The development IN the afHairs Of the
Union Trust Company. as was brought out
by the placing on record yesterday Of
deed transferring the Colonial Hotel prop
erty to trustees for that company and the
announcement Of the purpose Of the COM
peny to ereet q building on that site for
its use made the stock of that company
stock exchange today of more than ordinary
interest.
There was not much hesitation shown In
bidding for the stock. but there seemed to
be q reluctance about Offering 1t for sale.
and 50 the bid advanced about two points
and half above the best selling price OF
yesterday without bringing out any offers
of the stock except ten-share lot at 1s7.
At the close of the cali lot was sold an
eighth less and another one at 167, and for
one share i6o was paid. This constituted
the extent of the trading. bat 1t Is thought
that q higher level is booked for the near
future. Since the first Of the year this
stock has been lettering about LIB 40 that
the advance which was caused by this
change In the situation OF the company has
not been as great as might be supposed.
If the opinion that Is heard in current
talk Is of any value Il might be SAID That
1t is all in line with commencing the ousi-
ness sagacity which prompted this change
of sites. There Is some gossip as to the
method which will be adopted for financing
the proposed expenditure. which for build
ing and ground, it Is thought, will rtraca
about sc00,oeO and that is. 1t will be done
through syndicate OF stockholders which
will supply the money and erect the build
ing and the company will pay what will
amount to the annual interest charge.
OF course, it will be possible to use the
funds of the company for this purpose and
that may be done.
Another bit of Interesting gossip about
the future of the company relates to an al
legged plan for forming company to which
will be turned over the storage business or
the company. 1t Is said that the capittliza-
coo.
The happenings in the course of the bal
ance of the trading for the day We're not
very numerous fmportaEt. The volume
of the business done was NOT large. Scme
higher records We're made without bringing
out any of the stock. as. for instance, In
the advance of 2 points IN the bib for the
stock of the Washington Loan AMI Tiust
Company and of points in tine bid Tor the
stock of the Central Bank both of which
gave rise to remarks which ware under
stood to be purely humorous as to the pros
poets Of both of those institutions seeking
the locality which seems 70 have found
favor with some. and which for some time
past 1t has been thought that the name
of the Wall street OF Washington VIII be
appropriate. il not at this time certainly
in the near future.
The announcement was made that the
directors of the Farmers and Mechanics
Bank had declared eXtrt dividend OF 1
per cent, which had been usual for some
time past, and might be called regular
dividend The regular annual dividend IS
per cent.
An advance was also made in the bid for
the Capital Bank stock, which led some
banker in entire confidence to announce TO
the board that ii was understood the bank
had an option on the building of the Lii
brary of Congress, which 1t intended to oc-
cupy for its business in the near future or
as soon as they could get rid of Librarian
Putnam.
The only thing Of consequence that oc-
Cured during the call of the stocks in the
fire insurance list was the advance Of the
bid for the stock of the Metropolitan Com
pany from So to 80 and of the Corcoran
from So to 80. Whether this occurrence
has any Significance in connection with the
rumored movement that is said to he going
ON to secure control of enough of the local
companies to form one company with
large capital stock Is not known.
Today's Government Receipts.
National bank notes received today for
redemption. S733. lib. Government receipts
From internal revenue. $s62, ,459: customs,