The Washington herald., 1907-09-19

Business was in small volume on the
Washington Stock Exchange yesterday,
the same tactics being Fresorted to Of
animated bidding with few securities for
sale. The transactions Of the day were
S2,O0O in bonds and 10 shares Of stock
Conditions on the exchange were we'll
illustrated on the regular call Of the
bond list. A broker stated that he de-
sired to buy some of the Columbia Rail
road per cents. for which he was willing
70 pay the market price To accentuate
his determination to buy this broker bid
the bonds from l02 "a to l03 -, but the
best offering ne could get was a full point
above his bid Had he advanced his bid
judging from the way things have gone
for several days, the offering at l4 IL
would have been Withdrawn as the bid
approached II, and set at a higher figure.
There was really none of these bonds for
sale at the price.
More Inclination to sell
It was noticeable yesterday. however.
that as prices gradually advanced by
fractions there was more inclination 10
sell than has been shown for some time,
and in this lies the hopeful view OF the
situation. For example, number OF
brokers wanted scraps and quotation lots
OF Washington. Railway preferred. The
first sale was at Y rs. Then came sale
al Il. and almost Immediately the fact
developed that this stock would come
out In small quantity at that figure.
Finally twenty shares were sold at 70 l-2
and twenty more at 20 Ii.
BY a strange coincidence the next
stock sold was Washington Gas and it
sold at 70 "a Considerable interest inn
medlateIy developed IN this stock. and
the closing bid was pegged IT 70 IL. and
after call better bids were made. with
none Of the stock soid. The strength IN
this issue is only what may De expected
with large lines out for il. and all the
brokers watching TO buy RS low as possi-
bic. Naturally those having 1t for sale
are waiting for better figures
Mitchell Mining Sngs.
Mitchell Mining was neglected. though
there was plenty Of news on the ex-
change relative TO the internal affairs Of
the company Il was learned that at
the directors meeting yesterday George
Mitchell was relieved OF the presidency
OF the company upon news from Mexico
I that the directors az the Ia Discha and
Smelling Company had deposed him
/ from the. control u, that company. 1t
was also stated that a new president had
been elected. who is a Washington man,
and that steps had been taken TO protect
I the property Of the company, pending q
fun inquiry into its legal status and a
/ reorganization Of its affairs which is eX-
pecied 10 take some weeks.
/ Little is known in Washington as 20
I the exact condition. Of the company as
sets AZ this time, as even the board Of
directors have not been fully informed,
( but as soon as certain legal forms can be
compiled with q fun investigation VIII be
made. and the condition fof affairs re-
IveaIed TO the stockholders. Meanwhile
there is little to boost the stock. and it
/ Is prohable that IL may continue IT'S sag
ging tendency still further.
L. :. Trust shares sell Wen.
! Considerable business was put on rec
I ORD Yesterday in the shares Of the United
States Trust Company. A number Of
Ideals were made at g. and one at the
tcl5se OF the call al sS. with the stock Of
fered AT par
| The condition Of national banks. as
shown by the cOmptTolier's call Of August
/ p. is interesting. Since a year ago there
/ has been an increase Of 40I banks, with
! an Increase of $379,6Il652 in loans and dis
counts. an increase of $lis073,G2 In de
posits. and an increase of $374. .307.S35 in
/ total resources.
! Since May % there has been a decrease
Of S5S. $50 g25 in the amount due from ma
tionai banks. an increase OF 81. 750.397 in
capital stock, an increase i'm surplus OF
! slA4447l5, decrease of Sg0.Gf6.64 IN the
amount due national banks. &c; de-
I crease in individual deposits of $3SH. 75S
and a decrease in total resources OF $50
1851