Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-11-01
LOCAL FINANCIAL NEWS.

The appraisal of the value Of the
Georgetown Gas Light Company plant at
S4,oII7.3o by the auditor OF the Supreme
Court Of tie District which was submit
teL yesterday did not seem 10 be looked
upon in financial circles, where there is
naturally much interest H. this matter
as unfavorable. even though 1t did not
conc up 20 the estimate Of 100000 made
on behalf of the company during the hear
ing before the auditor.
The latter figure included the value of
the consumers service pipes, which 1t is
claimed belonged to the company, but
which claim was not admitted by the au-
ditor. 1t is. however thought. although
there is no very definite information, that
what is Sd q to be the original design Will
be carried out and that three shares of
new stock will be issued for each one Of
the old, making the capital stock $3.50 900
instead Of $4,000.
According to the same authority, that
is the current talk of the street, there Is
TO be no delay in presenting the applica-
ton to the court for an increase in the
capital stock OF the Washington company,
and II Is also still maintained, although
with some doubts here and there. that
the n" tap. tai. Cation of this company
W III tt i've times tldI oil the present Is
sue. namely, $4,000 900. instead OF S.
Geo 600.
The relief to the money market by the
increase IN the national bank circulation,
which is now going on, will. Of course,
have a h5neficial influence here. although
not a a direct character. Owing to the
nature Of the interests here there is not
that need for cash which is felt else
where. and the supply here is ample to
meet all demands.
With bur Jew exceptions all the national
banks in this city have circulation
up to the legal limit. which is the
amount OF the capital stock. with
tie increase in the amount OF available
money from this source. as well as from
the clearinghouse certificates, 1t is felt
the supply has been well replenished
1t IS likely the discus lion Of the subject
of providing for greater elasticity in our
currency Will gain new interest from the
present experience, and that the adVo-
Gates of the various plans-from those
who adhere u the present system OF a
government bond-sacurad circulation to
those who favor an asset circutation-WiI
be apt to gain more general hearing,
There was nothing of consequence done
at the meeting of the stock exchange to-
day The character o the trading, as
well as its volume, remained about the
same as 1t has been for some days past.
comparison of the condition of the
country. its resources as indicated by Its
population. its wealth, its trade balances
tic. with conditions at other periods of
financial depression leads to the COnClu-
sion by competent authorizes OF the
or at strength of the country at this
time. The prediction is freely made, based
on statistics of this nature. that the flu
'ture viii show an enormous growth.
dated from this time. The best feature
of the situation now is said to be the eX
traordinary agricultural prosperity.
AS TO the railroads, it is asserted the
Indications now that this autumn
will be much like its predecessors in that
there IS much more grain, coal and mer
Chandise TO move than can be handled
promptly It Is also claimed that if the
railroads cannot borrow the money needed
for additional facilities they Will have to
take the time and do the best they can
under the circumstances.
1t - believed that the industrial depres-
sion at this time will not be great
was the case in 1893, the period Of the
last financial disturbance. On account Of
the lessening in activities in various drec-
tons and the consequent reduction in the
calls for money. it is believed that the
increase 50 that when the weekly bank
statement of the New York banks is re-
suned after the clearing house certiti-
Gates are called in, the bank reserves will
be expressed in large figures. when com
pared with those of the last statement
prior to the issue OF TIE certificates.