Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-09-12
LOCAL. FINANCIAL NEWS.

At the meeting OF the stock exchange to-
day there were several blocks of the COM
mon stock Of the Washington Railway &
Electric Co. that was for sale by one OF
the brokers and he disposed Of 1t at 393h
and when his supply was exhausted there
was no more to be had at that figure. The
offering was at the close an eighth OF q
point only In advance. but no effort was
made to find out how much stock was for
sale at that price.
The preferred stock was to be had some
what less than the offering Of yesterday:
but the bid remained the same, namely. 81
and nothing was done.
The recovery of gas stock was continued
and today the bid was fve-eighths OF
point better then was the case yesterday.
There was.~ however. no great inclination
to trade and the separation OF the bid and
the asking prices was very slight
Mergenthaler again manifested a tendency
toward higher level. as has been the case
for some time past. The bid was at 200. 3
half point better than the closing bid OF
yesterday, but there was not much done.
although the asking price was only half
point In advance.
The interest in this stock at this time
and the advance which has taken place Is
attributed to the gossip which has gained
currency to the effect that an extra divi-
dend is contemplated. which Is to take the
form Of a new issue of stock on the basis
of about one share to every ten outstand-
ing.
This would add about a million to the
present capitalization. which Is I'll, O00, 900.
1t Is not known. OF course. what IL In the
minds Of those who control this corpora
ton and whether an extra dividend will
take that form or not but generally when
the stock goes up to it's present level with
indications that it is probably destined for
higher range than 1t may be cincluded
RYnQCfo6
the management.
City National Bank stock was again a
feature of interest in the days trading and
the advance which has been made in the
past few days was maintained and an addi-
tional gain made. AS compared with the
closing bid Of yesterday. the gain of today
was over point as 1873 was reached and
held without bringing out great quantity
of the stock. There was one block Of sixty
shares that was easily taken, and after
entire available amount was to be had at
that the entire available amount that was
to be bad at that figure reached only TWEEN
ty-five shares.
At the close. the bid was 1873 and there was
an offering at a point in advance. but be-
fore the close the asking price had advanc-
ed to 140. Those interested In the bank at
tribute this clearing of the market Of stock
at lower figures as due to the success of the
bank which was opened for business some
eight months ago and whose deposits have
now reached over $SJOOOO.
At the annual meeting held yesterday Of
the stockholders of the Merchants and Me-
chanics Savings Bank it was decided to
increase the capital stock from $4,000 to
$1O0.0OO the stockholders waving their right
to subscribe for the entire issue in order
that about 80 per cent Of the new stock
can be secured by those not now identified
with the bank.
It was stated that the bank would be re-
moved to the building recently purchased
at the northwest corner of 7th and G.
were elected directors: E. N. Richard E.
f. Gordon. A. g. Chaplain, Charles q.
Walker, E. L. Adams L. D. Cole, r. E.
Burks. Anthony Gaegler, George R. Lin
kins, Tucker Johnson, J. NJ Crute, ]. /.
Peyser. P. J. Nee, Charles w. Darr and
p A. Drury,