Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-01-23
LOCAL FINANCIAL NEWS.

The upward tendency In prices IN the
case OF some Of the more active stocks Inst
ed on the local exchange was again in evil
dence at the meeting, Of the stock ex-
change today. as was the case yesterday.
Some Of the bonds Of the washington Raif-
way ana Electric Company sold for ssk.
and the bid rose to s5A. where II remained
at the close. The asking price was q
quarter Of point IN advance.
For the common stock Of the company
the bid rose to 40. and 100 shares sold on
that level An option was taken at 4o9s.
There were bids for largo blocks at ss9k.
which were not filled. The stock was to
be had at 40aS. and at the close tho bid
was asa.
Sales Of the preferred stock were made
at ssh and at ssh. and at the close the
bid was ssx. which was separated from
the asking price by only an eighth OF q
point. Yesterday this stock sold up 10
Ssk, while a sale OF 100 shares OF the COM
mon was then made at 40.
The only transactions in the bank stock
list were sales Of several lots OF Metropoi-
itau Bank stock at 32O and one at 32lh,
and then the bid was 321 and the asking
price 325.
There was nothing done in the stock Of
the Second National Bank. The hgnres were
not changed much as compared with those
Of yesterday. The bid today was ioo. ana
the asking price a quarter of point above
1t.
The advance in the stock Of the National
Safe Deposit Company made yesterday was
more than maintained today, as the STOCK
was quoted today without the dividend OF
a dollar and a half a share. On this basis
the bid at the close was 1904, while yester-
day the stock sold for 1872 and the bid at
the close was 1917.
Today. sales were made on range OF
fror To
in all. 1t is stated that the market Tor
this stock at the better figures which has
been In evidence for the past two days
Is due to the record made by the company
during the past year. Its earnings. which
reached 10 per cent net over expenses, are
the largest ever made in the history OF the
company.
The president Of the company, Mr.. T. r.
that an increase In the capital stock OF
the company was contemplated. SAID that
was not the case and that the subject
had not even been preached at meeting
of the board of directors.
At the recent annual meeting OF the
stockholders authority was given to Apply
to Congress for the right to change the
name of the. company. from the National
Safe Deposit, Savings and Trust Company
of the District of Columbia to National
Savings and Trust Company.
1t is stated. by Mt. ,Beall, who is one OF
the organizers of the United States Trust
Company, that when the time for receiving
subscriptions to the stock of the company
expires at the close of business tomorrow
the. total amount of stock taken will
exceed one million Of dollars. 1t is esti-
mated by Mr.. Beall that of the total sub
scriptions 30 per cent fs In cash.
AS the law requires one-half of the capt.
tai stock to be in cash before the doors
of the company can be opened for busi-
ness, it Is calculated by those interested
that this requirement will be met early In
the coming month, and then, after the char
ter has been secured, 1t will be possible to
begin business about the LIST Of March.
At the present time 1t is thought that
the home Of the company will be In the
building on 18th street which Is to be va
Gated by the Metropolitan Bank about that
date.