Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-01-11
LOCAL FINANCIAL NEWS.

According to the gossip today in financial
circles the much-talked-about deal Affecting
the control of the Lincoln National Bank
had finally gotten down to definite propo-
sition. which was to be considered at the
meeting Of the board of directors which
was held this afternoon. The details OF
this offer were not known, except that the
price was SEQ per share either for the en-
tire capital stock or for control.
Mr.. Sitter. the cashier of the bank, was
asked this afternoon in regard to these
statements, and he put in a general denial
Of the entire business and said that as far
as he knew no proposition Of that kind or
of any other for change in the control of
the bank was up for consideration.
meeting OF the board. he said, was
called for this afternoon for the purpose Of
organizing after the recent election, but he
said that he did not know that any bust
ness of that sort would be brought UP or
that there was anything of the kind to be
considered.
Nothing of the sort was Indicated at to-
days meeting of the stock exchange when
the stock of the Lincoln Bank was called,
as the bid Of $50. which was made yester-
day, was repeated and no effort was made
to trade.
There was every appearance of something
going to be done in the case of the Bank of
Washington stock when four shares were
offered and taken at $50. which is twenty
points higher than was bid yesterday for
quotation lot of ten shares. The bid was
run up from this point until it reached $40
for ten shares, and then was withdrawn.
The bid was then SIS for ten shares, and
that amount was offered at $50, with the
statement that a similar lot would be forth
coming at an advance of ten points for each
lot until $50 was reached. The broker who
was doing the bidding then bid $40 for
thirty shares which had been offered in
that fashion. but it was not accepted
There was nothing done. and as a result
no marked change in the figures, except the
asking price was somewhat below that of
yesterday, which probably will not be re-
garded as of much significance. AS there is
practically none of the stock for sale.
There is none of the common stock of the
Washington Railway and Electric Company
that can be bought for less than 49, AT
least, that would be the conclusion from
the trading today. A bid of that amount
was made for 5000 shares. or for any part
but it met with no response and the broker
who is the largest dealer in that security.
withdrew his bid. The bid however, at
the close remained at that. level and the
stock was to be had at a quarter in adj
vance.
The bid for fractional lots of the pre-
ferred was 81, and some lots sold at slight
ly higher prices. The lowest asking price
was 81 and the best bid was 90A.
Nothing was done in the case of Capitol
Traction stock, except a somewhat better
bid, which was 14S.
The trading in the bonds of the Washing
ton Railway and Electric Company, as has
been the case for several days, was on a
higher level, and the range of the sales was
from 1914 to SsR
Mr.. George D. Boteler, who is business
man in Georgetown, has been chosen gen
eral manager of the Old Dominion Railway,
which Is being built on the west side of
the Potomac from the Aqueduct bridge to
Great Falls. Mr.. John r. Mclean is the
president of the company.