Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-09-30
LOCAL FINANCIAL NEWS.

No change of consequence was made in
the figures the list at the meeting today
of the stock exchange. sThe trading
slight, and there seemed to be but little
disposition to either buy or sell. Even the
notice sent out by George Mitchell to the
stockholders Of the Mitchell Mining Com
pany, advising them to withhold proxies
until he can be heard from, seemed to have
but little effect on that security, as prac-
tcaly alteration was made in the quo
tat:ons. as compared with those of Satur-
day.
The surmlse was raised by one of the
brokers on the floor that this action on the
part of the recently deposed president of
the company meant that he intended to
contest the action taken by the board o.
directors in divesting him of the presi-
dency of the company. But as yet it Is not
known what will be the outcome of this
new move.
It is thought by some who are interested
in gas stock that within the next day or
so there will be something known as to the
course to be pursued in the case of an ap-
plication to the court for an increase in
the capital stock of the Washington Gas
Company.
The point of interest in this connection is
the amount of the enlarged capital stock
When that Is known then 1t is thought
u ere Will De some OASIS OF uuslHB VI tliC
value of the information that has been
leaking out of recent weeks In regard to
the surplus of the company and It's net
earnings.
subject all that is available is based on the
statements of those who are supposed to
know, but who, after all, might possibly De
m1slnformed. In tie event the plan TO De
carried out provides for issue OF new
stocks share and share alike for the out
standing stock, then. of course. it becomes
important to know the ability of the COM
pany to pay a dividend the enlarged
issue and the size of such dividend.
AS to the latter, the current talk heard
in financial circles varies from per cent
to 6 per cent. The present dividend Is ~
per share on 1900 shares Of a par value
of 81, 100000. while the lowest rumored pro-
posed dividend is 81 per share on 10000
shares of a par value of sl3OOo.Ooo.
There is. of course, a possibility that
something may be attempted to be done
with the s26OO,OO0 of gas certificates which
can be called In at the option Of the COM
pany after the close of the year 1908.
Stockholders OF the Mitchell Mining Com
pany have received the following circular
dated New York. September l3 and signed
George Mitchell president:
Send no proxies to any one for any
reason until you get letter from me show
ing how an attempt has been made to take
control away from us. and to throw the
company into litigation during my absence
in Mexico.
An authority In financial matters thus
sums up the general market condition for
the past week: healthy condition of
money markets the world over. better
bank statement than had been expected.
Our own money market has acted re-
markedly we'll for the last week in Sep
TENDER. The banks are in better condition
than could be hoped for month ago. Call
money is cheap enough. while time money.
If stiff, is not understandable, and Is not
being borrowed for speculative purposes.
Calls from the interior for crop movement
have been offset by the operation of treas
ury deposits.
The copper situation is still an i'm
portant factor. The reduction of output is
now we'll under way while consumers are
still holding off. The market. therefore,
may be considered as still unadjusted.
In the steel trade there signs Of re-
cession which cannot be mistaken.