Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-12-16
LOCAL FINANCIAL NEWS.

The outlook at the beginning OF a new
week in the financial world Is regarded
as promising for improved conditions IN
the near future This view is entertained,
although the record shows that during the
week just closed the prices in the New
York stock market indicate decline as
compared with those of the preceding
week, but this is looked upon as rather
favorable condition than otherwise, as II
Is thought the rise during the preceohs
two weeks had been too rapid, and the
recent recession OF few points Is heip-
full than otherwise in securing the perna-
nent recovery which is confidently De-
lieved to have set in, and Will become
more and more in evidence during the
opening weeks Of the new year.
The bank statement from New York
at the close OF the week was regarded
as giving substantial evidence Of improve
ment, as it showed a large decrease In
loans and good increase in cash. 1t Is
the opinion of competent judges that
fairly active season for trade from New
Year to the opening OF spring may oe
looked for, and by that time the premiun
on money will disappear. loanable funds
In the banks will be increased and the
rate Of interest will decline.
1t is also thought that as the volume OF
business was large at the time the recent
disturbance in the money market became
acute it will not take a long time for
a normal state Of business to be regained.
There was no indication of any change
In the situation to be derived from what
was done at the meeting Of the stock ex-
change today. The levels of the slight
trading that was done were about the
same as have prevailed for some DAYS
past.
The usual request sent out by corpora
tons prior to an annual meeting notl1ylng
stockholders of that event and request
ing them to forward proxies on the STOCK
held by them in the event they Will NOT
be able to attend the meeting was re-
ceived today by stockholders from the
Washington Railway and Electric Com
rany.
1t is supposed the interests now In con-
troll will use such proxies IN connection
with the stock they already own ana that
the new board of directors that Will be
elected by such votes will be composed OF
local men representative of the stock of
the company which is now mainly held In
this city.
AS is generally understood. efforts have
been recently made to secure proxies on
this stock to be used in the coming cleo
ton, but exactly in whose behalf Is not
clearly known. although as ar as any
policy has been announced localizing the
management is favored. There Is no
ton in some quarters that these enorts
to gain control Of the property y either
securing stock in large or in small guam
titles or by combining various interests
have not thus far been successful and 1t
seems probable that before the Date OF
the election an understanding will have
been reached between all the parties con-
cerned SO that all will be given q repre-
Sentation on the new board.
In that case In addition to the present
management what are known as the
Stevens interests, the Hibbs interests and
also the Mclean interests Will all have
a place on the board, which may be In
creased from seven to nine members.
Government Receipts.
National bank notes received today for