Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-08-05
LOCAL FINANCIAL NEWS.

III was noticed at the meeting of the
stock exchange today that the higher
levels reached in recent days in the case
OF the typesetting machine stocks and
the copper stocks were maintained for
the most part, although the volume Of
trading was but slight.
This change is not as marked in the
case Of Mitchell Mining stock as in that
of Greene Cananea. The former is af-
fected by the uncertainty as to what is
going to be done in the way of financing
the company. while the latter Is reported
to have its plant in full swing and turn
ing out copper which can be disposed of
on a rising copper market.
The typesetting machine stocks appear
to be commanding higher prices in the
market because OF improved business.
which means In the case of the Mergen-
thaler continuation of the regular divi-
bends and the payment of extra, while
with the Lanston company 1t Is construed
to mean that the next dividend period
will witness return to the practice Of
sharing with the stockholders the earn
ings of the company.
After call there was something done
in the common stock of the Washington
Railway and Electric Company. The
broker who bought the bulk of the stock
at the recent activity in the trading in
that security was out today for some
more. He secured a few lots at 34H
and go shares at 80. and then continued
bidding on that level, but did not get any
more. which indicated that the supply at
that price had become exhausted
The executive committee Of the Employ
ers' Association of the Building Trades of
the District has sent a circular to the
stockholders of the Washington Gas Light
Company. stating that from interviews
with officers of the company the conclu-
sion has been reached that the policy of
the officers ''is one of unjust bias and dis
elimination against contractors who re-
fuse to be dominated by the labor unions
or dictated to by the walking delegate,
and that this policy is carried to
such an extent that the gas company in
sists that clause be inserted in it's con-
tracts calling for union labor exclusively"
The committee adds that this policy Is
so closely adhered to that it refuses the
lowest bidder If he employs open-shop
men. even to the financial detriment of
the company"
According to the latest circular issued
by the national board Of fire underwriters
the average annual loss by fire in this
country In the past five years has been
$251 .OOO,O a sum large enough to pay the
annual interest upon the public debt Of
the United States. England, Spain, Mexico
and the Netherlands
The New York Stock Exchange has de-
cfded that one of its former members.
whose firm recently suspended, Is in
eligible for reinstatement because of reck-
less and unbusinesslike dealings
The average market price for twenty
five active railroad bonds in January,
1908. was SS66 while in July. 1908. the
figures were 1897. This level of prices
for July. 1907, was $685.
The Massachusetts railroad commission
has sustained the six-cent fares required
In the Newton system of street railways
In the outlying Boston suburbs. This &C
ton OF the commission was based on the
showing made by the railway company
that it was unable to earn a fair return
upon its capital.
Since the year 1900 the national banks
have increased in number from 1917 to
1855. During the month of July past 81
new banks have been organized and of
this number q have a capital Of less than
$4,000 and IA have a capital of $5O.OOO
or over.