Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-06-24
FINANCE AND TRADE IN
MARKETS OF THE WORLD

pie OF the city generally, and an evidences
that reasonable and careful methods Of
living and expenditure are growing in popu-
larity. The marvelously prompt payment
OF the enormous German indemnity by the
French after the Franco-Prussian war was
due to the fact that the French. while at
that period without savings institutions,
were known the world over as the old
stocking nation" No wage is 80 small in
France that the workman will not put by a
part. however slight. for hard times and the
rainy day.
If it be true as many argue, that the or
gan1zadon and success Of savings banks IL
healthy sign in the community, surely the
people of Washington are learning the ways
OF provident living, for these institutions
now have place In almost every section Of
the city. While the list OF savings banks is
heightened, it appears that-there is soon to
be an addition to the roll of national banks.
The promoters are not disposed to talk
much about the matter but 1t Is understood
that the movement for the establishment of
a. strong uptown national bank in the vi
clnfty of Connecticut avenue and L street
has gained entirely satisfactory momentum,
and that number of prominent business
men In the city have signifed their inten-
ton to associate themselves with the new
institution, which 1t is said. will be capt.
talized at $35O,000.
The little relief secured in the prevalent
inactivity on the local stock exchange dur
ing the past week was due to fair move
ments in the bond market. The strong
was illustrated In the fact that on Friday
ST 900 of these bonds were promptly mar
keted at prices ranging from 104A to los.
as against sales in the early part OF the
week at 104. The high point on yesterday 8
market for this security was 104%. WASH
ington Railway and Electric per cents, as
usual, claimed fair share of interest dur
ing the week, and closed Saturday firm at
81 On Tuesday last 81, 600 Chesapeake and
Potomac Telephone per cents sold at lot,
and as was the case during the preceding
uyao In dof 1yy pan - \, -%1 al n< 10
company was not productive Of business
the bid and asked price yesterday remain
ing $500. 1t is said that the new eastern
or Lincoln exchange, and the absorption OF
the Independent lines In Montgomery and
adjoining counties, viii add largely to the
business Of the company.
In stocks business for the week has been
dull and fluctuations generally without
significance except, perhaps, IN the WASH
ington railway shares Of both classes. Cen
eral LIQUIDATION both in common and pre-
ferred has been evident throughout the
week. Nervousness in New York on ac-
count of the uncertain political and none
tary situation resulted in dribbling liqu1-
dation in this market. partly for account
accounts held by brokers locally security
against New York stocks. Then, too. the
tightness of the local money market is to
insist that the local difficulty in that re-
gard Is shared by all the money centers
of the country. Money strngency Just now
Is, of course. to be accounted for from
natural causes, July l being the second
largest dividend and interest disbursing Pc
Rod of the year.
In any event, whatever the explanation,
the common shares were yesterday bid
down to 40A without result. and the pre-
ferred covered a downward range from
S65a to S5ia, the latter being the record low
quotation for nearly two years.
In the mining stocks the liquidation in
Mitchell was said to be due to the failure
of the company to float its bonds, and
Greene copper has been depressed In SYM
pathy with New York prices. Fluctua-
lions in other stocks that generally COM
mand local interest have been immateriaI
for the week, and without such significance
as to justify the usual daily notes on the
situation.