Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-01-09
LOCAL FINANCIAL NEWS.

The election of officers of the various ma
tional banks as rule follows in the course
of a day or two the choice of directors. 1t
is not expected there will be any changes
except those which result from alterations
in the board of directors or to fill vacancies.
Elections of officers have already been held
in some cases and as noted in yesterdays
Star the board of directors Of the Bank OF
Washington chose officers, re-electing Mr.
James and selecting Mr.. c. w. Howard to
fill the position of vice president. Mr.. Chas
T.. White resigned as cashier and the assist
ant cashier. K Edward White. is acting In
his place. 80
Mr.. G. F.. Norment, it is expected. Will
be chosen president of the bank at the
meeting of the directors which is to be held
tomorrow. 1t is expected when the directors
of the Traders Bank meet tomorrow tnat
Mr.. c. J. Rixey, the vice president, Will &c
made president and the vacancy thus
caused will be filled by the election OF AR
Arthur G. Plant. who is at present in charge
of the savings department of the bank: Mr..
George Mitchell the president of the Mitch,
ell Mining Company, is to be the second
vice president
At the meeting of the board of directors
of Riggs Bank tomorrow 1t IS expected
that the vacancy in the position of first
vice president, caused by the resignation
of Mr.. Thomas Hyde, will be filled by the
choice of Mr.. Milton E. Allies. who Is now
the second vice president, while the lat
ters place will be taken by Mr.. w. ).
Flather. who Is assistant cashier
In spite of the lower rates for money In
New York the change in conditions does
not correspond to the extent that 1t was
commonly thought would be the case Inc
revival of activity seems to be delayed for
some reason, and, while the situation mere
is about the same. it is accounted for to
some extent by a lack of confidence
Some observers are of the opinion that
money is not more plentiful for general
bny hnf
terest began to go toward the normal
point. and they attribute that fact to a
feeling on the part of bankers that the
demands of the government for money IN
the near futurc must be provided for. 4 his
consideration. in the view of some, Will De
enough TO discourage large undertakings
for some weeks to come.
On the other hand there are those who
consider thai the proposed issue OF Panama
bonds will Offset to some extent the lessen
ing of the basis for bank circulation caused
by the payment of the As which mature
next July, and the releasing of such a
large amount of money as will be done
when the As are redeemed is looked upon
"A favorab Bile factor.
AS shown by the meeting of the stock
exchange today there is very little interest
manifested at this time in the securities
listed by that board The trading was
slight, as has been the rule lor some time
past.
The only feature of interest was the SAFE
of several lots of Mergenthaler on range
of from 202l2 TO 202s. the highest point
reached since the last dividend. At the
close the bid remained at 202.
The highest price was also paid for the
Bank of Washington stock, as five shares
We're taken at $50 and that was the bid for
"a quotation lot OF ten shares This Is the
best figure ever paid for the stock. and
when some further knowledge is had Of the
nature of the assets of the bank it can be
determined whether the value of this stock
has been over Or under estimated.