Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-12-30
LOCAL FINANCIAL NEW 8.

The feature of the trading at today's
meeting Of the Stock Exchange was the
sale Of Greene Cananea Copper on q
range of 6x to IN. a higher level than
has been reached in this stock for some
time past. Saturday the bid waas six
and the asking price a half a point
higher.
The trading today. which included sew
eral large blocks, was confined mainly
to two brokers. but the cause OF the
sudden rise in the figures did not seem
to be generally understood. A recent tip
given out in the general market Is TO
the effect that an English syndicate Is
engaged in buying largely of copper prop,
critics in this country, but no special
properties are mentioned, and IT is not
known whether or not this alleged move
ment has anything to do with what &C.
CURED today on the local market.
At any rate Mitchell Mining. the other
copper stock listed on the exchange. was
net affected. and the same prices pre-
vailed that were quoted Saturday, and
there were no transactions.
Nothing was done in the securities Of
the Washington Railway Company. NO
change was made in the quotations for
the bonds, but lower figures replaced
those that have been listed of recent
days in the case of the common stock
After call the only transaction In the
preferred stock took place when fifteen
shares sold for 6S. One-eighth of point
was added to the bid price as compared
with the bid of Saturday. A bid OF Ssh
was made for a six months option on
500 shares, and the same was onered Tor
Il.
A number of stockholders Of the COM
pany today received another copy of the
announcement sent out on the 14th IN
slant, signed by the secretary OF the
company, giving notice OF the annual
meeting Of the stockholders for the cleo
ton Of directors to be held January IL
and also inclosing blank proxies to be
used In the event the stockholder recelv-
ing 1t does not wish to attend the meeting
and vote in person.
Accompanying the notice was the 1oi-
lowing statement, which "shows the an
nual gross earnings from operation and
the annual surplus after payment OF OPP
Grating expenses and fixed charges. ISUo
to 1907, inclusive the gross earnings tor
the current month being estimated:
1900 5000 1923: 1901. 81. 49,. $50. 81; 1902.
81, 325 1882: 1903. 81 ago.. 294 SO; 1904. 81
GA 800. 40: 1906 s.. COS 907. So; 1906 50, 1885,
24O.52; 1907, So. 3s5, 900.
Annual surplus after fixed charges
Year 1900. deficit, s15s JO9; 55:. 1901, sur
plus. $11s.535.1 10: 1902 SOL. 1913 78; 1909.
$221 .S7S97: 1904. S35S522. rs; 1905. $47s,
1891; 1906 s523. 62O.99; 1907. $685., 900.
The above financial statement dated
the 18th instant. In order to get at the
net surplus. based upon the figures given.
1t is necessary to deduct the amount of
the dividend paid during the year on the
preferred stock. which is $425, 900, from
the surplus Of 1907. The net surplus is
thus shown to be $4,000. or $4,000 more
than per cent, upon the common stock.
The stockholders of the Second Ma
tional Bank are to receive at the coming
dividend period an increase In the amount
of the earnings distributed of ! per cent.
which will be at the rate of per cent
year, instead Of 8 per cent
I'm the last week of 1884, says the
Wall Street Journal Of today. in looking
out upon the new year Of 1908 the key
note of the situation should be courage.
The worst Is behind US.
Whatever may be experienced from
now on, and undoubtedly the next few
months. are to be months of hardships
in many directions. with presidential
election to complicate and unsettle the
markets and with mighty readjustments
to be effected and new alignments OF
financial forces to be established. there Is
just as much reason now for a courageous
view Of the outlook as there was year
ago for perplexity and doubt.
THE very intensity and Suddenness OF
the reaction is in itself a reason for be-
lief that the depression VIII be COM
parativeIy short and that the rebound,
when it starts. will be equally sudden
and sharp"