Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-12-19
LOCAL FINANCIAL NEWS.

The announcement was made at the
meeting today of the stock exchange that
the stockholders of the Bank of Wash
ington would receive from the earnings
of the six months which end at the close
OF the present month a dividend OF per
cent. 1t was further stated that $50,
had been added to the surplus.
The first dividend paid by this institu-
ton since the merger with The Central
National Bank was effected last spNng
was per cent, which was eceived by
the stockholders the list of last July.
Inc present rate is an increase Of l pc
cent and Is regarded as a ssmi-annual div
ldend; The president of the bank. Clar-
ence r. Norment. was congratulated upon
the showing rade
There was but little In the slight vol
ume of the -rading that made p the
business OF the day that indicated any
thing OF interest or any change In the
situation. Even the railways ere with
out significance and that is rather re-
markable for the reason that the Wash
lngton railway securities are more dis
cussed than perhaps any other on the
list.
The approaching annual election when
the stockholders viii assume charge of
the property, displacing the voting trust.
accounts for portion of this interest. as
1t is commonly thought a decided change
Will be made in the personnel of the
board of directors. This latter body is
to choose the officers. and some who are
interested in the property are inclined to
deprecate in advance of the election of
directors any discussion of their probable
action in the choice of officers. especially
that of president.
1t seems to be conceded that in any
event the new board Will he composed of
representative local men whichever OF the
several interests that are said to be de-
sirous of coming into control Will be
shown to have such control. 1t is posi-
BILE those who think the gossip about the
probable president is out of place at this
time are anxious to bring about what
they consider the more important matter
and that Is a board of directors so con-
stituted as to invite and secure the
largest measure of public confidence.
There seems to be no question that the
new board will be made up of such men
and then 1t will be for it to act In
harmony with such policy and choose
man to be at the head of the system who
also will carry the public with him. 1t
is also believed. but Of course cannot be
known definitely. that the major portion
of the securities of the system is now
held in this city.
At the same time. 1t seems to be the
general opinion that sufficient interval
of time has not elapsed since the bulk oil
the stock came into the hands Of local
holders to allow the change to be made
into compete ownership. The strength
of the securities would materially be IN
creased, it is thought, II larger block
was free from the danger of being shaken
out Of collateral loans every time
change was made in the market quota
tons Such a process. it Is recognized,
takes time, but 1t is said to be going on
constantly, SO that from this point OF
view the securities are gaining.
&c feature about this
property which seems to be generally
conceded, which is that 1t is growing
proposition. and that its receipts, ooth
from its railway lines and from its cleo
trio light and power plant. are steadily
increasing and are bound to increase az
long as the city continues to grow. This
is the experience of the other railway
system which, of course, has no electric
power to sell and is without that sourc
of revenue. and it is also true Of most all
are found In the real estate field or in
financial or commercial lines.