Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-03-13
LOCAL FINANCIAL NEWS.

It Is the aim of the projectors OF saw
ings bank that Is planned to be organized
in the near future In the vicinity OF the
navy yard 70 supply banking facilities for
those employed In the gun establishment
there as well as those living IN that gen.
eral locality.
A building site Is to be purchased some
where on sth street between the navy yard
and Pennsylvania avenue and 9 suitable
building is 10 be erected, which Will be
the new home of the projected Washington
Mechanics Savings Bank. This institution
is to have a charter from the state OF
Virginia and the authorized capital Is to
be $4,000. At present II Is not the design
to place more than $4,000 of the stock, as
the purpose Is 10 get It out in small lots and
among the people who will likely be inter
ested in the bank and bring to 1t business.
Mr.. Ezra Gould who has been active in
promoting this enterprise. Is to be the pres
ident while on the board of directors Will
be the following: Charles Squeres. An
drew Johnson. jr.. John I. White and
George Hayes. all of whom are employed
in the navy yard. In addition TO MIR. Gould
will be William NJ. Dove of the j. Maury
Dove Company and Henry X. Dougherty OF
the Spanish claims commission. IL Is the
intention TO increase the board of directors
be those engaged In business in that section
of the city. For the present r.. s. Won or
the American National Bank VIII act as
temporary treasurer and secretary. II Is
expected that In the course OF the next
three months the new building Will be
ready. and then the bank Will be opened for
business.
Several members of the exchange who
have been missed from their places have
returned. Mr.. j. T. Hendrick, who has
been the farthest away. has just come
back from a three weeks trip, which In
cluded New Orleans and Havana, while
Mr.. Walter HieSton has been In New York
city and Mr.. R. II. Lynn has returned from
case Of mumps which he had In the usual
orthodox style.
Lanston seems inclined to take the mid
die of the stage for while and give an
exhibition of how TO go up. Today at the
meeting of the stock exchange there was
more than the usual volume of trading In
the stock, and the range Of the prices was
from 1414 to 141s, which is a higher level
than has been reached for some time past.
An option was also sold 14ss, and at
the close the bid was l41z, with stock to
be had a quarter of point in advance
Mergenthaler seems to be taking the pack
track in It's course and today the bid for 1t
was a quarter of point below the closing
bid of yesterday. and the stock was to De
had at 1877. which was the yesterday DID.
The closing of the books for the payment
is to take place Saturday.
Quite a lot of Greene Copper was sold at
about the range which has lately been
reached and at the close there was not
much change In the figures as compared
with those of yesterday. s
The trading In the railway securities did
not develop much business or result In any
material change in the figures. Better
prices were paid for the bonds of the
Washington Railway and Electric Com
pany, as ali the sales were made at a figure
within an eighth Of point of So.
Tomorrow the books in the case of the
Capital Traction Company closes for the
payment of the quarterly dividend of $1.0O
per share, and today the only dealing was
In fractional lots, which brought, with the
exception of one share. 147.
The stock of the linton Trust Company
seems to be in demand a. the present high
figures, and also better. Today some
orders were filed at 153 and 1872. and the
bid was on the level OF the last at the
close.
Fifty shares of the Commercial Fire In
surance Company stock sold for g. which
has been the bid for the stock for some
time past and then the same bid was re-
peated for fifty more, which were not
secured
Forty shares Of Washington Title Com
pany was for sale at 7. but the best bid
was the one that has been made for sew
eral days past for a quotation lot, name
~, 5iz.
Any part Of one hundred shares of gas
stock were offered for 81, but the best bid
was COZ.